Category: News

In just the first half of 2017, the region has seen the official launch of two direct flights, of which WTC San Diego and EDC have assisted the San Diego County Regional Airport Authority in attracting: Condor Airlines’ direct service to Frankfurt, Germany and Edelweiss’ direct service to Zurich, Switzerland.

This week, Edelweiss launched its inaugural flight. WTC and EDC assisted in hosting a private luncheon earlier this year with Swiss-owned and San Diego-based companies seeking business opportunities in Switzerland. Switzerland is an important market for San Diego, especially for the life sciences industry, with more than $1.6 billion in investment from Switzerland.

EDC is proud to take part in the BIO International Convention, the largest life sciences convention in the world, hosted right here in San Diego from June 19-22.

Join us Monday, June 19 as we celebrate the region’s ever-growing life sciences cluster. Here’s how:

• 1:00 – 2:15pm: Panel event for the launch of EDC’s economic impact report on San Diego’s genomics industry. Details here.*
• 5:00 – 7:00pm: San Diego Innovation Council Reception. Register here.

*must be registered for BIO to attend.

San Diego knows how to build companies that the rest of the world values. Case in point: Last month, El-Cajon based Calbiotech, a diagnostics company, was acquired by ERBA Mannheim, a medical device manufacturer based in Mannheim, Germany.

In 2016, Calbiotech was part of MetroConnect, World Trade Center San Diego’s flagship export assistance program. As part of the 2016 cohort, Calbiotech received financial and programmatic resources to support their plans to expand internationally.

Calbiotech has a global footprint of more than 200 products, which are distributed to 60 countries worldwide. With the expansion announcement, Calbiotech will maintain its footprint in San Diego because of the access to key reference labs and other biotech customers throughout the region. It will also serve as ERBA’s hub and gateway to the Latin American market.

The company was referred to the MetroConnect program by Jo Marie Diamond, head of the San Diego East County Economic Development Council. “I’ve been working with Calbiotech for years,” said Diamond, “They are representative of everything positive about the San Diego economy – a focus on innovative products, a strong sense of commitment to the community, and an incredibly grounded and highly diverse team.”

“We’re excited to hear of Calbiotech’s next step and were very impressed with the company during their time in MetroConnect”, said Lauren Lindner, director of World Trade Center San Diego who oversees the MetroConnect Program. “Their team was incredibly savvy in their rollout to international markets, and we’re not surprised to see that a leader like ERBA took notice.”

“San Diego, and specifically East County, have been an integral part of the Calbiotech success story,” said David Barka, Vice President. “San Diego is home to companies that are leading the world in innovation in science and medicine. Being in San Diego gave us access to an amazing talent pool that really helped our company grow.”

The acquisition will help Calbiotech increase access to markets across Europe and Asia add to EBRA’s extensive and far-ranging product portfolio.

M&A is an important growth strategy and capital source for San Diego companies. According to a 2016 EDC study, nearly 70 percent of San Diego’s capital in 2015 came through M&A.

Calbiotech’s acquisition mirrors the region’s strengthening ties with Germany, including the announcement of Condor’s new direct flight to Frankfurt, Germany, which began operation on Monday, May 1.

Financial details of the acquisition were not disclosed.

Applications for the MetroConnect 2017 round are now open. To apply, click here.

Calling all companies looking to go global…

MetroConnect, World Trade Center San Diego’s flagship export assistance program, is now accepting applications for its 2017 cohort.

Made possible through a grant provided by JPMorgan Chase & Co., small to mid-sized companies in San Diego can apply for a $10,000 grant and programmatic services to assist with international expansion efforts.

Fifteen local companies will be selected. Apply now through June 30, 2017.

Apply Now

To date, the 30 companies that have gone through the MetroConnect program (2015-2016) have collectively generated $10.5 million in new export sales, signed more than 70 new contracts, added 50 new jobs to the region, set up nine new overseas facilities and seen three successful company exits.

Past participants include Calbiotech, Rough Draft Brewing, Deering Banjo Company, Cypher Genomics (now part of Human Longevity Inc.), ROBO 3D and more.

Learn more at metroconnectsd.org and apply here.

According to EDC’s newly released Quarterly Economic Snapshot, the region added 29,600 jobs year-over-year, a 2.1 percent increase in total employment since Q1 2016. However, the San Diego region saw a quarterly decline of 10,900 jobs, primarily due to seasonal workers transitioning out of retail following the holiday season.

Meanwhile, San Diego’s unemployment rate rose by 0.1 percentage points during Q1 2017, but is 0.7 percentage points lower than the same period a year ago.

Key findings from the snapshot:

• San Diego closed Q1 2017 with an unemployment rate of 4.2 percent, the 14^th lowest among top U.S. metros and below the nation’s and state’s rates of 4.6 and 5.1, respectively.
• The construction sector saw the largest quarterly and year-over-year growth in employment, adding 2,800 and 5,700 jobs, respectively – indicative of the overall health of the economy.
• The median home price fell 0.7 percent from the previous quarter, but is still up 5 percent compared to a year ago.
• VC dollars in the region increased 15.2 percent compared to the previous quarter.

Kirby Brady, San Diego Regional EDC research director, explains, “A small uptick in unemployment and slowing home price appreciation are to be expected in the winter months. However, when you look at the overall trends, San Diego appears to be reaching full employment and real estate remains a seller’s market. If these trends continue, we’ll start to see wages rise.”

The Quarterly Economic Snapshot analyzes key economic indicators that are important to understanding the regional economy and the region’s standing relative to the 25 most populous metropolitan areas in the U.S. This releases includes data from January to March (Q1) 2017.

Read it here.

This spring, EDC continued its Link2 San Diego series – partnering with local colleges and universities to bridge the gap between young talent and the region’s growing industries. The spring series brought together 368 students, 18 companies, 13 high schools and three colleges. The forums provide an opportunity for students to network with and learn from local executives – with discussion around market trends, innovative technologies, entrepreneurship, sustainability of businesses, workforce requirements and more. Students across the spectrum, from high school to post-grad with diverse backgrounds and degree focuses, attended these free events to explore career options and make valuable connections with industry leaders. The details:

In April, EDC partnered with Cleantech San Diego on two events focused on topics including sustainability, climate action, electric and autonomous vehicles and more. Link2 Clean Transportation and Link2 Cleantech were both held on local community college campuses, hosting 250 students. The panel discussions and networking sessions featured representatives from SANDAG, SDG&E, ChargePoint, Green Charge, Lumeo and Mossy Toyota. </span”>

In May, EDC partnered with the UC San Diego Design Lab to host Link2 Game Design – an event focused on the growing alternate and virtual reality industry. The panel discussion featured game design experts from Daybreak Games, Tsunami VR, ThoughtSTEM, Jam City and VAVi Sport & Social Club. After the panel, more than 100 students participated in hands-on virtual reality demos and networked with industry representatives during the three-hour event at UC San Diego.

” Job postings aren’t staying up long, and unemployment is near record lows. I expect wages to start increasing as we approach full employment.” – Phil Blair, President and CEO, Manpower

Each month the California Employment Development Department (EDD) releases unemployment data for the prior month. This edition of San Diego’s Economic Pulse covers April data, including unemployment data, new business establishments, job postings and who’s hiring in San Diego.

Highlights include:

• The unemployment rate dropped 0.4 percentage points to 3.8 percent in April, the lowest seen since December 2006.
• Unemployment declined in 18 of 19 jurisdictions. Only Del Mar was unchanged, with an unemployment rate of virtually zero.
• Construction job growth accelerated in April, up 8.5 percent compared to a year ago.

Read San Diego’s Economic Pulse here.

This week, World Trade Center San Diego and UC San Diego’s School of Global Policy and Strategy (GPS) welcomed Alan Beebe, President of the American Chamber of Commerce in China, for the third and final Global Forum program of the year. The event was held in the Harbor View room at Tom Ham’s Lighthouse.

The presentation focused on the findings of the 2017 China Business Climate Survey Report, released by the American Chamber of Commerce. Alan Beebe provided insight on the obstacles American companies face in China today, and how these obstacles are leading to adjustments in strategy for the future. Following the presentation, Mr. Beebe was joined by Dr. Karl Gerth, Chinese Studies program director at UC San Diego for a moderated Q&A session.

Sponsored by Bank of America, the Global Forum initiative offers GPS’s high-profile, visiting scholars a chance to address the region’s local business community.

At 6pm on Monday, May 1, San Diego greeted Condor Airlines’ first ever flight from Frankfurt, Germany. Condor begins seasonal, nonstop service between San Diego and Frankfurt with up to three flights weekly.

“Germany is one of San Diego’s most important foreign markets. By providing nonstop service to Frankfurt from San Diego, we’re opening new doors to global markets that will attract exports and lucrative foreign investment for the region,” said City of San Diego Mayor Kevin Faulconer.

As a key global partner to the San Diego region, Germany currently ranks fourth in terms of foreign employment (2015) and seventh in terms of total exports from San Diego (2013).

Ringing in this new flight, more than 100 San Diego business and tourism officials joined WTC San Diego at Stone Brewing World Bistro & Gardens – Liberty Station for a kickoff event this Tuesday. Attendees included San Diego Mayor Kevin Faulconer; Jens Boyd, group head of long-haul, Condor Airlines; April Boling, board chairman, San Diego County Regional Airport Authority; Greg Koch, founder and Chairman, Stone Brewing; and Consul General Hans Jörg Neumann, Consulate General Germany Los Angeles. Stone Brewing Co is the only U.S. brewer to fully own and operate a brewery in Europe.

Besides Frankfurt, the service will provide travelers with convenient one-stop access to European destinations such as Paris, Vienna, Prague, Venice, Berlin, Rome, Zagreb and many more.

This year, San Diego International Airport will double its intercontinental routes. In addition to its current service to Tokyo, London and the new route to Frankfurt, it will also add a new flight to Zurich, Switzerland later this year.