Industry Profiles are back…and better

EDC’s Industry Profiles are back…and better than ever. Consistently our most visited pages on the former EDC site, we took some time to give them the refresh they deserved.

Not sure what we mean by ‘Industry Profiles’?

With breakthrough technology companies and research organizations, the largest military concentration in the world and a strong tourism industry, the San Diego region has one of the most dynamic economies in the country. Created by our Research Bureau, these profiles take a deep dive into the industries that make San Diego the innovation hub that it is, with data on employment, businesses, wages, and more.

San Diego regional industries to explore:

Visit our Research Page to see the new profiles

A note from Mark: Our commitment to values, not partisanship

“With malice toward none; with charity for all; with firmness in the right, as God gives us to see the right, let us strive on to finish the work we are in; to bind up the nation’s wounds…to do all which may achieve and cherish a just, and lasting peace, among ourselves, and with all nations.”
–President Abraham Lincoln, Second Inaugural Address, 1865

It is clear that when President Lincoln wrote and shared these words, it was to bring together a terribly divided nation that had been through its most horrific chapter to date. And yet more than a century and a half later, it is also clear that not all of our wounds have healed.

The weeks leading up to this election have been marked with anger, frustration, fear, resentment, hatred, and a barrage of disinformation coming at all of us from all political levels. And unfortunately, the weeks that follow will likely bring more of the same. But behind it all, we are also seeing record voter registrations, a remarkable number of early votes being cast across the nation, and a new and different generation of voters seeking new and different strategies and solutions.

Regardless of election outcomes, individually and as a team at EDC, we will continue to do all we can to work with all leaders, at all levels of government. Time and again, we have seen that it is public and private-sector leadership working together that creates the best possible outcomes for our economy and our community.

As we move into the final months of 2020, our focus will remain on supporting our local businesses through economic recovery, and in creating the jobs that will lead to more thriving households in all corners of our region. We look forward to another year of working with and through all of our investors and partners to rebuild and strengthen San Diego’s economy and to ensure that our core values of integrity, accountability, collaboration, and inclusion are seen and felt in all that we do.

Wishing our region and our nation a great and peaceful election today. May we all strive to finish the work we are in—with malice toward none, charity for all, and a firmness in what we know to be right.

With respect, admiration, and hope,

–Mark Cafferty

October Monthly Report

EDC Monthly Report – October 2020

A note from our CEO:

Well, we’ve made it to October. It’s hard to believe that this tumultuous, lesson-filled year is nearing its end. While our nation and our community have faced many challenges in 2020, there is still much worth celebrating here in San Diego. This month we celebrate National Manufacturing Day, as well as San Diego Startup Month—two areas of our economy that have demonstrated resiliency in times of crisis. Read on for more.

By the Numbers

  • 9.9% San Diego County unemployment rate
  • 311 business assisted year-to-date
  • 6.5K jobs impacted year-to-date
  • 108K manufacturing jobs in the region

Featured Stories

Investor Recognition

  • ASML
  • Brown Law Group
  • City of Carlsbad
  • City of Oceanside
  • Kyocera
  • MAAC
  • Port of San Diego
  • San Diego Foundation
  • San Diego Housing Commission
  • San Diego Regional Airport Authority
  • San Diego Workforce Partnership
  • San Diego Padres
  • Sanford Burnham Prebys Medical Discovery Institute
  • Sentre Partners
  • Systran
  • Taylor Guitars
  • TaylorMade Golf
  • The Clay Company
  • UC San Diego
  • Willis Allen Real Estate

See our September Monthly Report here

A look back at Career Exploration Day

Advancing San Diego is a multi-faceted initiative to strengthen relationships between industry and education systems in San Diego. The vision behind the initiative is an environment where more San Diegans have access to quality job opportunities, and employers of all sizes have established effective recruitment partnerships with locally-serving education institutions.

In ‘normal’ times, EDC hosts on-campus events throughout the year for San Diego employers to connect with students. The unique opportunity of a virtual event is that we are not limited to one campus and one group of students. On October 20, with support of our title sponsor Qualcomm Incorporated, EDC hosted Advancing San Diego: Career Exploration Day and Virtual Career fair – a free event that brought together employers and students of San Diego schools for a full day of career exploration, professional development, company information sessions, peer learning, and networking. Throughout the day, 150 students logged on to chat with employers in the virtual career fair and listen in on a webinar series on job search strategies. Attendees represented schools throughout San Diego, including San Diego State, CSU San Marcos, UC San Diego, Community Colleges, National University, San Diego Code School, a handful of high schools, and more. Nearly half of attendees were first-generation college students, and 65 percent were studying either computer science or engineering. Representatives from more than 20 San Diego companies participated in the event, and 244 job applications were submitted directly through our platform, vFairs.

“As a company of Inventors, we know that it takes diverse skills, experiences and cultures to develop and enhance world-changing products and technologies like 5G,” says Heather Ace, Executive Vice President Human Resources, Qualcomm. “Events like Advancing San Diego’s Career Exploration Day are critical to engaging students from all backgrounds by providing exposure to innovative companies and real world advice from employers who are all looking for top talent in the region and beyond.”

With so much uncertainty around the job market, workplace environments, and career opportunities, students are in somewhat uncharted territory when it comes to career exploration in 2020. Speakers throughout the event offered consistent advice to students navigating their career path through challenging times: lean in, stay focused, and be confident in yourself, your abilities, and your value. Below are some key takeaways for students.

  1. Lean in

We are fortunate to live in a time where we have access to technology to help us adjust and stay connected through a global pandemic. Lean in to your career exploration by actively updating your LinkedIn profile. Take time to research companies and jobs you may be interested in and direct message representatives from those companies on LinkedIn, and ask for an informational interview (people are more accessible than you may think!). Build your network by joining a club or getting to know your professors, and activate that network by staying in touch with friends, family, and professors for guidance. Your network will gladly open doors for you when you need them to.

  1. Stay focused

You may be spending more time at home these days. Stay focused on the things you can control and use this time to invest in learning something new outside of school. Research free online courses, trainings, conferences, or certificates related to your career interests. Pursue passion projects, or volunteer. Whether it’s blogging or coding or drawing, set aside time to apply and refine your new skills often. Your first job or internship may not be your dream job, but don’t be afraid to bloom where you’re planted, and use that time to develop your skills so you can figure out where you want to go next. Make a short-, medium-, or long-term term plan for your professional development. No one expects you to be an expert early in your career, and employers will be impressed that you’re working towards a goal.

  1. Know your goals and own your value

People at every age, in every type of job, have experienced imposter syndrome, or feeling like you lack the qualifications to be taken seriously for a job. Before you can start planning for your career, define what your goals are for a job or internship and what skills you bring to the table. If you have little or no professional experience to reflect on a resume, be sure to include your college job, volunteer work, or experience in a club. Think critically about how skills you gained in those experiences will translate to a professional position. Define the environments where you thrive and use that to guide you in selecting a company or job that is right for you. For example, if you have an entrepreneurial spirit, enjoy flexing your creative muscle, and are adaptable in a fast-paced environment, a smaller company or startup might be right for you. If you appreciate defined processes, structure, consistency, and clear direction, a larger company might be a better fit. Use internships as a time to learn about different roles and company cultures, and seek out mentors.

Leaning in, staying focused, and knowing your goals will help you identify jobs that are aligned with your strengths and values. Building your professional brand means knowing what you bring to the table, and having the confidence to own and communicate those strengths. Believe that you belong there and that you belong in that job, even before you’re there! Finally, always remember, you’re interviewing the company as much as they are interviewing you.

Best of luck in your job search.

–Team EDC

Learn more about Advancing San Diego

Good News of the Week – October 30, 2020

Every week, ‘Good News of the Week’ features a curation of positive headlines from San Diego, delivered straight to your inbox. A blend of aggregated stories from San Diego’s most trusted news sources and original EDC-created content, GNOTW provides a comprehensive recap of the region’s best stories from the past week.

For the week of October 30, 2020, here’s what we’re reading:

…and here are the events we’re (virtually) attending:

What does it mean for us to Build Better?

The pandemic and social upheaval of the past year have laid bare the wealth and health inequities across our society borne so heavily by low-income, BIPOC, and other marginalized groups. Join EDC and San Diego Grantmakers on November 17 for a virtual summit bringing together leaders from across sectors to challenge thinking and inspire action toward a more inclusive and equitable economy.

Learn More and Register

San Diego business resources:

Amidst everything happening in the world, we need a reminder that there’s plenty of ‘Good News’ to go around in San Diego. We have also compiled additional resources for businesses and individuals seeking additional guidance.

For businesses:

For individuals:

Be in the know – sign up below to receive future editions of GNOTW.

Want to submit your event or news update to our weekly newsletter? Contact us for more information.

Heather Dewis
Heather Dewis

Sr. Manager, Marketing Communications

Good News of the Week – October 2, 2020

Small business export center instituted at World Trade Center San Diego

Partnership with Small Business Development Center aimed to support San Diego’s small businesses in going global

San Diego and Imperial Small Business Development Center (SBDC) has contracted with World Trade Center San Diego (WTCSD) in a unique partnership that will bring an Export Specialty Center to the region, housed at WTCSD. Announced today, the dedicated center will focus on small business export advising and training that serves to increase the number of export-ready firms in the region.

Amidst a pandemic-induced economic crisis, rapid shifts in global and regional supply chains, and changes to the country’s trading relationship with major world powers, it is critical that home-grown businesses are equipped with tools to compete in the global marketplace.

“The partnership with SBDC allows our team to build upon the export support that we’ve delivered for more than five years through our MetroConnect program. While MetroConnect serves a competitively-selected cohort of export-ready companies each year, the SBDC work will really focus on getting small businesses to a point where they are positioned for international growth, which we know will grow jobs, increase revenues and improve resiliency here at home,” said Nikia Clarke, executive director, WTCSD.

Launched in 2014 as an affiliate of San Diego Regional Economic Development Corporation (EDC), WTCSD will receive additional funding from SBDC to expand its export portfolio of small businesses, hire a new full-time employee, and tap into SBDC’s diverse network to funnel companies into its export accelerator program MetroConnect.

“By formalizing this partnership with WTCSD, the SBDC network now has a dedicated center focusing on export issues and advising here in San Diego and Imperial County. Exporting makes companies stronger and more resilient—especially important amid an economic downturn spurred by COVID-19,” said Daniel Fitzgerald, Associate Regional Director, SBDC.

The contract will run from October 1, 2020 to December 31, 2021. WTCSD has hired coordinator Ajogwu (Jeff) Adegbe to help lead these efforts.

About WTCSD
World Trade Center San Diego (WTCSD) operates as an affiliate of San Diego Regional EDC. WTCSD works to further San Diego’s global competitiveness by building an export pipeline, attracting and retaining foreign investment and increasing San Diego’s global profile abroad. sandiegobusiness.org/wtcsd

About SBDC
The San Diego and Imperial SBDC, hosted by Southwestern Community College, is funded by the U.S. Small Business Administration (SBA) and the California Governor’s Office of Business and Economic Development (Go-Biz). It provides business advising on how to start, manage and grow a business, with most workshops and training at no cost to small business owners to provide economic impact for our region. The SBDC network includes eight service partners in San Diego County and one in Imperial County hosted by the Imperial Regional Alliance. San Diego County locations include: North San Diego SBDC (MiraCosta College), East San Diego SBDC (East County EDC), South San Diego SBDC (Southwestern College), the Brink SBDC (University of San Diego), Export Trade SBDC (WTCSD), Connect SBDC, Alliance SBDC (Asian Business Association) and International Rescue Committee SBDC. Services are provided in English, Spanish, Arabic, Farsi, Swahili, Dari, Vietnamese, Mandarin and others. sdivsbdc.org

Good News of the Week – October 23, 2020

Every week, ‘Good News of the Week’ features a curation of positive headlines from San Diego, delivered straight to your inbox. A blend of aggregated stories from San Diego’s most trusted news sources and original EDC-created content, GNOTW provides a comprehensive recap of the region’s best stories from the past week.

For the week of October 23, 2020, here’s what we’re reading:

…and here are the events we’re (virtually) attending:

San Diego’s Economic Pulse: October 2020

This edition of San Diego’s Economic Pulse covers September 2020 and reflects some effects of the coronavirus pandemic on the labor market.

  • Regional unemployment falls to 9.0 percent.
  • Long-term unemployment continues to increase.
  • Investments in workforce development and retraining become increasingly more important.

Read More

San Diego business resources:

Amidst everything happening in the world, we need a reminder that there’s plenty of ‘Good News’ to go around in San Diego. We have also compiled additional resources for businesses and individuals seeking additional guidance.

For businesses:

For individuals:

Be in the know – sign up below to receive future editions of GNOTW.

Want to submit your event or news update to our weekly newsletter? Contact us for more information.

Heather Dewis
Heather Dewis

Sr. Manager, Marketing Communications

Good News of the Week – October 2, 2020

Good News of the Week – October 16, 2020

Every week, ‘Good News of the Week’ features a curation of positive headlines from San Diego, delivered straight to your inbox. A blend of aggregated stories from San Diego’s most trusted news sources and original EDC-created content, GNOTW provides a comprehensive recap of the region’s best stories from the past week.

For the week of October 16, 2020, here’s what we’re reading:

…and here are the events we’re (virtually) attending:

Innovate78 launches new website

North County has changed a lot since we launched the five-city collaborative partnership, Innovate78. Now, we’re excited to debut Innovate78’s new website and brand highlighting what it’s like to live and work along San Diego’s 78 Corridor, how the program can assist local companies, and up-to-date information on the five cities. Explore the New Site

San Diego business resources:

Amidst everything happening in the world, we need a reminder that there’s plenty of ‘Good News’ to go around in San Diego. We have also compiled additional resources for businesses and individuals seeking additional guidance.

For businesses:

For individuals:

Be in the know – sign up below to receive future editions of GNOTW.

Want to submit your event or news update to our weekly newsletter? Contact us for more information.

Heather Dewis
Heather Dewis

Sr. Manager, Marketing Communications

Good News of the Week – October 2, 2020

San Diego’s Economic Pulse: October 2020

Each month the California Employment Development Department (EDD) releases employment data for the prior month. This edition of San Diego’s Economic Pulse covers September 2020 and reflects some effects of the coronavirus pandemic on the labor market. Check out EDC’s research bureau for more data and stats about San Diego’s economy.

Key Takeaways

  1. Unemployment falls to 9.0 percent.
  1. Long-term unemployment continues to increase.
  1. Investments in workforce development and retraining become increasingly more important.

Labor Market Overview

The region’s unemployment rate was 9.0 percent in September down from a revised 9.5 percent in August 2020, and still three times above the year-ago estimate of 2.9 percent. Unemployment continues to increase in San Diego’s unincorporated and low income areas, while falling in wealthier areas. The highest unemployment area in the region was Bostonia at 16.5 percent and the lowest was Solana Beach at 5.0 percent.

The region’s unemployment rate remains lower than California’s unemployment rate of 10.8 percent, but higher than the national unemployment rate of 7.7 percent.

 

Looking at monthly employment, total nonfarm employment increased by 11,700 in September. Government accounted for the largest monthly gains, adding 6,800 jobs last month, primarily concentrated in local government education (up 5,300 jobs). Even so, compared to a year ago, local government education is still down 11,700 jobs. Leisure and hospitality followed with an increase of 2,500 jobs. Job gains were driven by accommodation and food services, which added 3,200 jobs. These gains were offset by a loss of 700 jobs in arts, entertainment, and recreation. Educational and health services increase this month, adding 2,400 jobs.

Compared to a year ago, San Diego nonfarm employment remains down 117,700 jobs, or 7.8 percent. Leisure and hospitality represents the largest share, down 52,400 jobs. Accommodation is down 14,000 jobs over the year, and bars and restaurants are down 24,400.

 

Long-Term Unemployment Continues to Increase

Long-term unemployment has increased substantially during the past few months of the pandemic, though it remains significantly lower than the peak experience in the Great Recession of 2007-2009. In September, the number of unemployed persons in the U.S. who were jobless for 27 weeks or more increased by 781,000 to 2.4 million. During the Great Recession, the highest rate of long-term unemployment was 6.8 million in April 2010.

Long-term joblessness can have a significant impact on workers’ future career prospects. If out of work long enough, skills become outdated. Moreover, long-term unemployed workers often face continual earnings losses, earnings volatility, and more frequent unemployment throughout their careers. Finally, long-term joblessness greatly increases the risk of workers leaving the workforce altogether, which can have lasting economic impacts.

Workforce development and retraining are becoming increasingly more important, especially as more workers face long-term unemployment. Jobs currently in high demand include software developers and software quality assurance analysts and testers, registered nurses, and retail salespersons and supervisors, which had the highest total job postings in September. While the hiring of retail might be a good sign, this may be due to the reopenings of stores and retail which will eventual level off. The top in-demand skills include merchandising, auditing, accounting, and selling techniques. Working to adjust these skills to the changing work environment is essential. Read more about workforce development and retraining, and how EDC is playing a part.

For more COVID-19 recovery resources and information, please visit this page.

EDC is here to help. You can use the button below to request our assistance with finding information, applying to relief programs, and more.

Request EDC assistance

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Good News of the Week – October 9, 2020

Every week, ‘Good News of the Week’ features a curation of positive headlines from San Diego, delivered straight to your inbox. A blend of aggregated stories from San Diego’s most trusted news sources and original EDC-created content, GNOTW provides a comprehensive recap of the region’s best stories from the past week.

For the week of October 9, 2020, here’s what we’re reading:

…and here are the events we’re (virtually) attending:

Recap: What we’ve learned through MetroConnect V

World Trade Center San Diego (WTC) continues to support the 15 companies in its MetroConnect international sales accelerator program. As part of the year-long export education curriculum, WTC recently hosted two workshops with experts on international marketing and sales, as well as GDPR and data privacy. Read More

San Diego business resources:

Amidst everything happening in the world, we need a reminder that there’s plenty of ‘Good News’ to go around in San Diego. We have also compiled additional resources for businesses and individuals seeking additional guidance.

For businesses:

For individuals:

Be in the know – sign up below to receive future editions of GNOTW.

Want to submit your event or news update to our weekly newsletter? Contact us for more information.

Heather Dewis
Heather Dewis

Sr. Manager, Marketing Communications

Good News of the Week – October 2, 2020