Category: Press Release

Samsung Semiconductor opens customer engagement office in San Diego

By San Diego Regional EDC,

Together with Mayor Todd Gloria, EDC celebrated the opening of Samsung Semiconductor‘s new customer engagement office in San Diego, supporting Southern California customers.

“Samsung Semiconductor’s Memory and Foundry businesses are poised for growth as we innovate and fuel the future of AI, mobile, and automotive,” said Samsung Semiconductor’s U.S. President Jinman Han. “We are expanding in San Diego to better serve our customers in Southern California.”

“Just a few months ago, I led a delegation to South Korea where we visited Samsung’s Biologic offices and other tech giants to strengthen business relationships and to try to grow more quality jobs here at home,” said Mayor Todd Gloria.

“Today, we’re thrilled to see Samsung Semiconductor doubling down on its local tech footprint and making an important and valuable addition to San Diego’s globally connected innovation economy.”

Located in Del Mar, the new San Diego office is home to Memory and Foundry customer engagement teams totaling approximately 20 employees. Both teams support innovations that power AI, mobile, automotive, IoT, the data center, and more.

  • The Memory team partners closely with major local customers to develop and validate memory solutions for mutual end-customers across applications.
  • The Foundry team is responsible for the end-to-end support and engagement with customers in Southern California. This includes identifying the best Foundry technology for Samsung Semiconductor customers’ needs to sustaining production using Samsung’s process technologies ranging from 150nm all the way to 2nm.

Samsung Semiconductor has had offices in San Diego since 2010, with an R&D center focused on SOC, modem systems, RF systems, multimedia, AI, and commercialization. The company employs more than 200 employees in San Diego with plans for additional growth.

About Samsung Semiconductor

Samsung Semiconductor is a world-leading semiconductor company with a wide range of products that power the tools you use every day – including smartphones, electric vehicles, hyperscale data centers, IoT devices, and more. For more information and the latest news, please visit the Samsung Newsroom at semiconductor.samsung.com.

About EDC

San Diego Regional Economic Development Corporation (EDC) is an independently-funded economic development organization that mobilizes business, government, and civic leaders around an inclusive economic development strategy in order to connect data to decision making, maximize regional prosperity, enhance global competitiveness, and position San Diego effectively for investment and talent.

Meet the MetroConnect VII companies!

By World Trade Center San Diego,

Add these to your ‘companies to watch’ list

Together with Mayor Todd Gloria and underwriters Booz Allen Hamilton, Deloitte and JPMorgan Chase & Co., World Trade Center San Diego (WTCSD) unveiled the seventh cohort of companies selected to participate in MetroConnect, the region’s comprehensive export assistance program helping local companies accelerate their international growth.

Since the program’s debut in 2015, 95 MetroConnect alumni have collectively added 302 new jobs to the region, signed more than 522 new contracts, and set up 22 new overseas facilities. On average, cohort companies grow their exports by an average 63 percent and revenues by 40 percent as part of the program. Alumni include Novo Brazil Brewing Co., Access Trax, White Labs, Dr. Bronner’s, Bitchin’ Sauce, Scientist.com, Aira (acquired by Blue Diego Investment Group), Cypher Genomics (acquired by Human Longevity Inc.), and many more.

Now, WTCSD is pleased to welcome the newest set of MetroConnect companies representing the diversity of San Diego’s innovation economy.

Meet the MetroConnect VII companies

  1. Aquacycl
  2. Epitope Diagnostics
  3. Fieldsheer
  4. GALT Aerospace
  5. Harland Brewing Company
  6. Health Innovation Products
  7. Lotus Sustainables
  8. Promo Drone
  9. Selk’bag
  10. Sunday Golf
  11. Surf Loch
  12. VECKTA
  13. VeV Scientific
  14. Visaic
  15. Wearable Sensing

Learn about the companies

The MetroConnect program is highly competitive, with just 15 companies selected based on a variety of criteria, including interest in new foreign markets, assessed impact of funds, current international traction and more. Applicants were assessed by a panel of senior level representatives from Biocom, Connect, CMTC, WTCSD and the U.S. Commercial Service.

“Since its launch, the City of San Diego has been a proud supporter of MetroConnect and the nearly 100 businesses it has helped grow internationally,” said San Diego Mayor Todd Gloria. “As Mayor, I’m committed to supporting the small businesses that power San Diego’s economy, and international connectivity is an important tool in building economic resilience.”

Why go global?

Amid economic uncertainty, it is more important than ever to help local SMEs build resilience by facilitating increased sales in global markets.

In 2022 alone, San Diego exported more than $32 billion in goods overseas, as well as billions more in services like software, cybersecurity, engineering and research. SMEs produce 92 percent of those goods—driving home the importance of programs like MetroConnect.

“Booz Allen is proud to support international business connectivity in San Diego through MetroConnect,” said Jennie Brooks, EVP at MetroConnect underwriter Booz Allen Hamilton, and EDC board chair. “The metrics don’t lie—it’s clear global companies are more competitive, efficient and successful. We’re committed to continuing this important work in San Diego’s business community.”

Next up for MetroConnect VII

The cohort will gain access to a suite of resources to support expansion into international markets, including executive workshops, flight discounts, language translation, and up to $30,000 in grant funding.

“2024 is filled with great opportunity for those who are prepared to navigate an uncertain and dynamic environment,” said Nikia Clarke, executive director of WTCSD. “Now with new tracks focused on technology, health and consumer goods, the MetroConnect program will ensure San Diego’s rapidly growing firms are equipped to access global markets, share our region’s life-changing innovation with the world, and create high quality jobs here at home.”

Interested in growing your business internationally?

World Trade Center San Diego works directly with companies – free of charge – to help them expand internationally and grow in San Diego. Whether your small company is interested in learning about exporting and international growth, or your SME is ready to export and grow internationally, WTCSD is here to help.

Ready to get involved? Click here to receive our monthly Global Brief Newsletter, delivered straight to your inbox.

Mayor Todd Gloria to lead South Korea trade mission to strengthen economic ties in Asia

By Bree Burris,

WORLD TRADE CENTER SAN DIEGO CONVENES REGIONAL LEADERS TO HELP BUSINESSES IN SAN DIEGO MEGA-REGION EXPAND GLOBALLY, CREATE LOCAL JOBS

In order to foster vital global economic partnerships, San Diego Mayor Todd Gloria, SANDAG and San Diego County Board of Supervisors Chairwoman Nora Vargas, and World Trade Center San Diego (WTCSD), an affiliate of San Diego Regional Economic Development Corporation (EDC), are leading a trade delegation to South Korea. During the October 27—November 2 trade mission, business and civic leaders will promote the region’s key industries and seek to establish and strengthen business relationships across biotechnology, semiconductors, clean energy, and infrastructure.

Monumental federal legislation (IIJA, IRA, and CHIPS and Science Act), combined with a generational shift in U.S. industrial strategy aimed at reducing American reliance on China, have positioned South Korea as a natural partner in critical industries. As the federal government continues to incentivize the reshoring and nearshoring of activities aligned to national priorities, leaders from across San Diego, Imperial Valley, and Tijuana are maximizing growth through global connection.                         

“South Korea is a critical global market and a natural partner for San Diego as we share complementary strengths in the life sciences, clean energy, and biotechnology sectors,” said Mayor Todd Gloria. “I’m proud to again join the World Trade Center San Diego on a trade mission to strengthen business relationships and grow quality jobs here at home for San Diegans.”

Home to Asia’s third busiest cargo airport and seventh largest port, South Korea is an emerging hub for global trade and business. As the U.S. strengthens its alliances in East Asia, San Diego finds in South Korea an economy with shared expertise in knowledge-intensive industries, including personalized medicine, semiconductor research and manufacturing, and clean energy. South Korean-based companies directly employ more than 850 San Diegans, predominantly in the technology and manufacturing industries at companies like Samsung and Hyundai. Notably, the U.S. and South Korea hold the #1 and #2 spots, respectively, in global market share of the semiconductor industry. Further, South Korean investment into the U.S. is accelerating, with $18.2 billion in new investment since mid-2020 alone. South Korea is the #13 country investing venture capital into San Diego by deal count, closely behind Germany and Singapore (2014—2020), primarily in the pharmaceuticals and technology industries.

LEARN ABOUT THE TWO REGIONS

 “The binational mega-region has always been a remarkable place, but at this moment for the global economy, we can compete like never before,” said Nikia Clarke, executive director of World Trade Center San Diego and senior vice president at San Diego Regional EDC. “With San Diego’s innovation ecosystem, Imperial Valley’s clean energy leadership, and Tijuana’s advanced manufacturing prowess, we have all the necessary pieces to anchor the supply chains of the future: collaboratively, efficiently, and sustainably.”

“I am looking forward to showcasing the advancements in clean energy technology, life sciences, and port infrastructure to elevate the best of what our binational region has to offer and identify new partnerships with South Korea to foster innovation and economic growth for both our regions,” said SANDAG and San Diego County Board of Supervisors Chairwoman Nora Vargas. “This is an opportunity to increase trade and share new ideas that will help develop lasting solutions to improve our region’s infrastructure, transportation, and economy for the residents of San Diego County.”

Over the four-day trade mission in Seoul, Incheon, and Gyeonggi Province, San Diego will look to build lasting institutional relationships and attract foreign investment in industries that are critical to the future.

Agenda items include:

  • The celebration of a partnership between San Diego-based medtech company Dexcom and South Korean-based tech giant Kakao, which will enable Dexcom to bring its next-generation glucose monitoring capabilities to the South Korean market
  • Opportunities to showcase major regional development projects for foreign investors, including the Seaport Village redevelopment, Lithium Valley in Imperial County, as well as San Diego State University and UC San Diego’s campus expansions
  • Meetings with Port, Airport, and infrastructure partners to better connect our regions through nonstop air and liner service, as well as sharing energy transition innovations
  • Government convenings with the Governor of Gyeonggi and the Mayor of Siheung together with Mayor Todd Gloria and SANDAG and County Board of Supervisors Chairwoman Nora Vargas
  • Formal meetings and tours of major employers in both regions, including Qualcomm, Illumina, and Samsung Biologics

Delegates will participate in upwards of 15 meetings over the course of the trade mission, sharing best practices and driving business connectivity across many verticals. The two dozen San Diego delegates include representatives from Illumina, Qualcomm, Viasat, ASML, Cubic, General Dynamics NASSCO, Gafcon, and small businesses including Tioga Research and Nano PharmaSolutions. Also in attendance are delegates from key agencies, universities, and civic organizations such as Port of San Diego, San Diego International Airport, UC San Diego, San Diego State University, San Diego Association of Governments (SANDAG), Imperial Valley EDC, Tijuana EDC, and others.

The trade mission is organized by World Trade Center San Diego, an affiliate of the San Diego Regional EDC, with assistance and support provided by the U.S. Embassy in South Korea, and sponsorship by Dentons, Townshend Venture Advisors, and Qualcomm.

Follow along with the trade mission: #SDinKR

REFLECTIONS ON OUR KOREA TRADE MISSION

WTCSD.ORG

Thank you to our trade mission sponsors:

Study: San Diego’s cyber talent grows by 10% across 1K firms

By EDC Research Bureau,

EDC, CCOE study quantifies impact of region’s cybersecurity cluster

Together with the Cyber Center of Excellence (CCOE), EDC released “Cybersecurity is Everyone’s Business: San Diego’s Cyber Cluster.” The fifth update since 2014, the report quantifies the economic impact of the region’s cybersecurity cluster and explores the firms, technology, and talent working to help thwart cyber risk across San Diego and beyond.

As cyberattacks and ransomware threats extend beyond technology and begin to impact even our built environment, the importance of cybersecurity cannot be overstated. Not only are the consequences costly—reaching an average of $9.44 million in the U.S. per IBM—but they have profound impacts on human health and safety.

“San Diego is leading the charge with more than 1,000 cyber firms, top-ranked education and research institutes, and the Naval Information Warfare Systems Command (NAVWAR). This collaborative ‘Ecosystem in Action,’ as highlighted by the White House, is developing new technologies, solutions, and diverse cyber talent to create a more secure digital community for all,” said Lisa Easterly, President & CEO, CCOE—commissioning organization of the report.

Marking the 10-year anniversary of CCOE, the biennial report includes a deep dive into San Diego’s $4 billion cyber cluster, a metro-by-metro comparison, a roster of local resources and assets, and business sentiments of local firms.

KEY report FINDINGS

  • Cybersecurity is everyone’s business. With increasing cyber threats to physical infrastructure, the security of data and communication is of critical importance, leading to a sharp rise in global demand for cybersecurity talent across industries. In San Diego, 59 percent of private sector cybersecurity jobs are in industries outside of technology, such as manufacturing, architecture, and engineering.
  • San Diego’s cybersecurity cluster is expanding its footprint and impact on the regional economy. There are 13,383 jobs and 1,016 establishments tied to the cybersecurity cluster in San Diego, up eight percent and 17 percent respectively in the last two years. Altogether, this amounts to a $4 billion regional economic impact.
  • Local cybersecurity firms remain deeply linked to the Federal government, including the Department of Defense. A majority (65 percent) of San Diego cyber firms work directly or indirectly with the government. Nearly one-fifth indicate government-related work as their primary focus, explaining why 23 percent of local cybersecurity firms are in the defense and aerospace industry.
  • Fast growth and resilience define San Diego’s cybersecurity talent. The region’s talent pool has grown by nearly 10 percent since 2018, five times faster than all other occupations combined. The cybersecurity talent base experienced significantly smaller job losses during the pandemic and recovered both more strongly and more quickly than other occupations. 
  • Demand for cyber talent far exceeds local supply. Three out of four cybersecurity firms in San Diego report having difficulty finding entry- to mid-level as well as experienced applicants. Increasing compensation and diversity can help address San Diego’s talent shortage.

Cyber is an important and rapidly growing piece of the San Diego regional economy. The cluster supports 26,000 local jobs, most concentrated at NAVWAR, the preeminent provider of information warfare capabilities for the U.S. Navy. In all, the economic impact of San Diego’s cyber cluster is about the same as 24 Comic-Cons.

“Firms in every industry face cybersecurity risks. This is driving up the demand for cybersecurity talent and solutions. To keep pace and remain competitive, San Diego must leverage its unique assets, such as the military, as well as its incredibly diverse pool of talent,” said Eduardo Velasquez, Senior Director of Research and Economic Development, EDC.

“We have a national shortage of cyber workers—to the tune of 663,000 in the U.S. per Cyberseek. Opening the aperture with accessible and skills-based training helps seed and diversify the talent pipeline, which is critical to advancing our country’s homeland security,” said Joseph Oregon, Chief of Cybersecurity, Region 9, Cybersecurity and Infrastructure Security Agency (CISA).

More competitive compensation, increased diversity in recruitment, and thoughtful consideration of degree requirements are all strategies that can help San Diego lead in cybersecurity innovation across the region and globe.

In partnership with CCOE, the report was sponsored by Booz Allen Hamilton, CyberCatch, ESET, Haiku, RiskRecon, and San Diego State University, and was unveiled today at an industry event hosted at Qualcomm.

SEE THE FULL REPORT HERE

LEARN more about cyber IN SAN DIEGO

About Cyber Center of Excellence (CCOE)
CCOE is a San Diego-based nonprofit that mobilizes industry, academia, and government to grow the regional cyber economy and create a more secure digital community for all. sdccoe.org

EDC report: 2023 Inclusive Growth Progress

By San Diego Regional EDC,

Report: San Diego affordability crisis threatens latest jobs and talent gains

Today, San Diego Regional EDC released its 2023 Inclusive Growth Progress Report. With updated data and bold objectives set around increasing the number of quality jobs, skilled talent, and thriving households critical to the region’s competitiveness, the report measures San Diego’s growth and recovery, and spotlights the greatest threats to prosperity.

2023.inclusivesd.org

Making the business case for inclusion, EDC releases this annual report to track progress toward the region’s 2030 goals: 50,000 new quality jobs* in small businesses; 20,000 skilled workers per year; and 75,000 newly thriving households**. Since its launch in 2017, the initiative has rallied public commitments from County, City, academic, and private sector leaders who are leveraging the Inclusive Growth framework to inform their priorities, tactics, and resource allocation. While much about the economy remains uncertain, intentional and consistent efforts by a diverse set of regional stakeholders will be key to achieving these goals.

“Large and small businesses, nonprofits, and government all play important roles in building a strong local economy and expanding economic inclusion,” said Jennie Brooks, Executive Vice President at Booz Allen Hamilton and EDC Board Chair. “Booz Allen is empowering its employees with training in technologies such as Artificial Intelligence and is committed to helping prepare local, diverse San Diegans for tech careers of the future. We are proud to partner with local nonprofits and small businesses to make advanced technology broadly accessible to students and create a supportive ecosystem in San Diego to drive inclusive economic growth.”

THE STORY BEHIND THE DATA

Over the past decade, the San Diego region has experienced a notable upswing in general prosperity, standard of living, average wages, and productivity, including a full recovery from the pandemic across virtually every sector. Yet, these gains have not been evenly distributed.

In terms of racial, geographic, and overall inclusion, San Diego has slipped; the pandemic has hit lower-income households and minority communities hardest. The relative poverty rate has increased while median earnings and the household wage gap between white and non-white populations has widened. Record-level inflation has hit struggling San Diego households hard, and high operating costs have degraded the ability of businesses to attract and retain talent.

Despite these obstacles, San Diego is once again making headway on the quality jobs and skilled worker goals; see charts below. 2021 saw an uptick in small business jobs as well as the highest increase in post-secondary education (PSE) completions in more than a decade.

However, decreasing affordability coupled with uneven economic prosperity not only threatens that progress but indeed may mean that San Diego falls even further behind its peer metros on overall prosperity. The region now needs to add 125,000 newly thriving households by the end of the decade to meet the goal.

The region’s expensive and limited housing market has exacerbated inflation across all categories, with fewer than 44 percent of San Diego households considered thriving. The affordability crisis will primarily impact Black and Latino households, of which more than half are low-income, and continue to challenge employers’ ability to attract and retain talent—posing the single greatest threat to the region’s economic growth.

“While EDC’s report demonstrates San Diego’s remarkable resilience in the face of the pandemic, our jobs and talent gains are being diminished by the region’s affordability crisis. Unless we get this right, San Diego will always be catching up,” said Lisette Islas, Executive VP and Chief Impact Officer at MAAC, and EDC Vice Chair of Inclusive Growth.

Join the movement

Using a demand-driven, employer-led, and outcomes-based approach, San Diego private, public, and community leaders must deploy creative solutions to achieve these 2030 goals. EDC invites the community to join us at one of two upcoming webinars to learn more about the data and how to get involved:

“We’re seeing HR departments dissolve degree requirements, big buyers redirecting procurement spend, governments streamlining permitting processes, and developers prioritizing on-site childcare. This is the level of regional adoption required to move the needle on inclusion, and EDC is committed to continuing to tell a data-driven story to make the business imperative clear. San Diego’s future depends on it,” said Teddy Martinez, Senior Manager, Research, San Diego Regional EDC.

Read the full report at 2023.inclusivesd.org, and all previous updates at progress.inclusiveSD.org. 

The initiative is sponsored by Bank of America, City of San Diego, County of San Diego, JPMorgan Chase & Co., San Diego Gas & Electric, Seaport San Diego, Southwest Airlines, and University of San Diego Knauss School of Business.

more at inclusiveSD.org

*Quality job = $45K wages + healthcare benefits.

**Thriving household = total income covers cost of living for renter- or owner-occupied households, at $79K and $122K respectively.

A tool for inclusive growth: The San Diego Investment Map

By San Diego Regional EDC,

New digital tool to help inform inclusive growth in housing, childcare, industry

Today, EDC launched the San Diego Investment Map, a new digital tool to inform strategic, inclusive growth across the region. As part of EDC’s Inclusive Growth Initiative, the Investment Map provides a first-of-its-kind interactive data tool to support decision making across core facets of the local economy: childcare, middle-income housing, and corporate site selection.

Pulling a variety of datasets into an easy-to-use dashboard, the San Diego Investment Map allows users to explore San Diego County through a different lens. The interactive dashboards include data and analyses, and serve to shine a light on the region’s greatest threats to economic competitiveness: a jobs and housing imbalance, among other affordability challenges.

Key takeaways:

  • CHILDCARE: San Diego has 327 childcare ‘deserts’ spread throughout the region, making up nearly half of all census tracts. The Investment Map can pinpoint gaps in childcare supply and help narrow sites for prioritization.
  • HOUSING: Seventy-four percent of San Diego’s population is middle- to low-income, yet only 2.5 percent of permitted housing development needed in the region accommodates these groups. The Investment Map can identify zones with existing building incentives, community plan updates, as well as new commercial development where workforce housing may be needed.
  • INDUSTRY: There are 15.6 million rentable square feet of commercial space being developed across the region, predominately concentrated in northern San Diego. While this includes enough office space for more than 42,000 employees, most workers live instead in the southern and eastern parts of the region. The Investment Map can assist companies in site selection based on occupation hubs, commute trends, and other infrastructure assets that meet their operational needs.

“The San Diego Investment Map serves as a tool for local policy makers, developers, and employers to make informed and deliberate decisions to prioritize the region’s inclusive growth. Using geographic storytelling, the map makes obvious the gaps in our economy—limited childcare; disjointed development both in terms of location and income-level; rising costs with no end in sight. Data-driven solutions to alleviate these challenges will safeguard San Diego’s competitiveness,” said Teddy Martinez, Sr. Research Manager, San Diego Regional EDC.

Explore the Map

About the Inclusive Growth Initiative

The innovation economy will continue to make San Diego more prosperous than many of its peers, but it is not accessible to the fastest-growing segment of the region’s population. This mismatch between our regional assets and our economy’s future needs will consistently erode the region’s competitiveness.

Launched in 2018, EDC’s Inclusive Growth Initiative serves to communicate these challenges, making the business case for economic inclusion across San Diego. By 2030, County, City, private sector and academic leaders have pledged their commitments to the initiative’s goals: 50,000 new quality jobs in small businesses, 20,000 new skilled workers annually, and 75,000 newly thriving households. See how we’re tracking here.

The San Diego Investment Map marks a new tool for employers and stakeholders to engage in this work, specifically tackling the thriving households goal.

“Inclusion is an economic and business imperative. It’s more than DE&I in the workplace—it’s about ensuring all San Diegans have the resources and infrastructure needed to thrive in this region. The Investment Map highlights all the work we still have to do to make that possible,” said Lisette Islas, EDC vice chair of Inclusive Growth, and EVP and Chief Impact Officer of MAAC.

The San Diego Investment Map was authored by San Diego Regional EDC, with support and counsel provided by Buzz Woolley and Mary Walshok.

Learn more about inclusive growth

Explore the Map

Interested in a demo, or getting involved? Contact EDC:

Teddy Martinez
Teddy Martinez

Sr. Manager, Research

 

Study: Artificial Intelligence has potential to supercharge San Diego Smart Cities efforts

By EDC Research Bureau,

EDC study assesses the economic impact of AI in Smart Cities

Today alongside underwriter Booz Allen Hamilton, San Diego Regional EDC released the fifth study in a series on the proliferation of Artificial Intelligence and Machine Learning (AI-ML) within San Diego County’s key economic clusters. “Designing the Future: Artificial Intelligence for Smart, Thriving Cities” explore the history and evolution of Smart Cities efforts around the world, and investigate whether these technologies can enable cities to be both more efficient and more inclusive.

By 2050, it is projected that more than two-thirds of the global population will reside in an urban area. This massive and rapid urbanization presents new challenges for cities around the world—San Diego included. Between 2010–2020, San Diego’s population increased 8.35 percent from 3 million to 3.3 million residents. As the region has grown, affordability, sustainability, and mobility have become major priorities for sustaining economic competitiveness and inclusion. AI-ML technology presents new opportunities, and new responsibility, for urban areas to unlock the potential of innovation to cultivate smart, thriving cities.

Underwritten by Booz Allen Hamilton, the web-based study—smartcities.sandiegoAI.org—includes San Diego case studies on use of AI-ML in Smart Cities, a ‘tour’ of Smart Cities efforts around the globe, and makes the business case for prioritizing economic inclusion in Smart Cities efforts, among other assessments.

“EDC’s AI series underscored that AI-ML adoption is creating new job opportunities, and the demand for these skills far outpaces the supply,” said Teddy Martinez, Senior Research Manager, EDC. “As we wrap with a focus on Smart Cities, it is clear that if done right, AI-ML also has the potential to advance economic inclusion and improve quality of life for more San Diegans.”

KEY FINDINGS

  • AI-ML integration with Smart Cities efforts is still in the early stages. Smart Cities initiatives have evolved around the world from connected sensors and devices to promoting sustainability, efficiency, and mobility. Yet, local governments and businesses in San Diego have not yet fully integrated AI-ML into Smart Cities efforts.
  • Demand for AI-ML talent is more than double the supply in San Diego. The region produced fewer than 3,000 AI-ML-related graduates in 2021, meanwhile, more than 7,800 local unique job postings required AI-ML skills in 2022.
  • San Diego has above average concentrations in key industries that drive Smart Cities efforts, providing 50,454 jobs and an economic impact of $21.2 billion. Seven industries within the Professional, Scientific, and Technical Services sector also have the strongest appetite for AI-ML skills, responsible for one-in-four unique job postings in 2022.
  • Moving from smart to thriving is the next chapter for technologically advanced cities. Smart Cities technologies have contributed to efficiencies, but do not yet drive economic growth. With greater intention, these technologies can improve affordability and quality of life, as well as support job growth and business expansion.

San Diego’s growing innovation economy has gotten rightful praise as a “World’s Smart City” by National Geographic, and recently as a “World Design Capital” alongside Tijuana. Home to established companies Booz Allen Hamilton and Qualcomm, or scaling startups like Kneron and Measurabl, the region is largely defying the ‘tech correction’ and experiencing massive growth to drive AI-ML innovation locally and beyond.

“Measurabl uses AI-ML to revolutionize how businesses approach energy management. By providing real-time insights about energy use and identifying areas of inefficiency, we empower our clients to make data-driven decisions that cut costs and reduce environmental impact—ensuring company ESG (environment, social, governance) goals are measurable, manageable, and auditable,” said Frank Pressel, Data Science and Data Engineering Manager, Measurabl, founded in San Diego.

“As a proud part of San Diego’s tech ecosystem, Booz Allen—with 1,300 employees in the region—is hiring in droves for roles in software development, AI-ML, data engineering, and computer engineering. Together with industry, research, and academia, San Diego has the ingredients to lead in a Smart Cities future,” said Joe Rohner, Vice President at Booz Allen Hamilton and a leader in the firm’s AI practice. “With the right integration and investments in AI-ML, our region can meet ambitious goals in sustainability, transportation, and inclusion. Developing the talent, and ensuring community buy-in, are critical to that success.”

The study series is underwritten by Booz Allen Hamilton and produced by EDC. Learn more about EDC’s research here.

read the report at smartcities.sandiegoAI.org

see the full ai series here

Study: San Diego’s Life Sciences cluster in the early stages of AI-ML boom

By EDC Research Bureau,

EDC study quantifies the impact of AI in region’s Life Sciences cluster

Today alongside underwriter Booz Allen Hamilton, San Diego Regional EDC released the fourth study in a series on the proliferation of Artificial Intelligence and Machine Learning (AI-ML) within San Diego County’s key economic clusters. “Diagnosing the Future: AI and San Diego’s Life Sciences Cluster” quantifies the economic impact of the region’s Life Sciences cluster and explores the proliferation of AI and ML technologies being used to diagnose disease and develop drugs, among other lifesaving products and solutions.

While the pandemic devastated many sectors of our economy, the Life Sciences cluster experienced a striking 11.2 percent job growth (51 percent over the last decade). The cluster boasts a $27 billion annual economic impact, with 1,800 Life Sciences firms employing more than 61,000 San Diegans—nearly three times as many Life Sciences jobs as the national average. Taking advantage of the region’s innovation ecosystem, San Diego’s Life Sciences cluster has increasingly integrated software and technology to maximize its impact, save time, and reduce costs.

Underwritten by Booz Allen Hamilton, the web-based study—lifesciences.sandiegoAI.org—includes company case studies on local use of AI-ML, San Diego’s standing relative to peer metros in AI-ML integration, a timeline on the history of Life Sciences in San Diego, and the business case for economic inclusion within the cluster, among other assessment.

“This series serves to spotlight the importance of AI-ML application within the region’s key industries, helping drive productivity, job growth, and scientific innovation here and around the globe. With so many Life Sciences companies yet to fully tap into AI-ML, the impact we are already seeing in San Diego is just beginning,” said Mark Cafferty, president and CEO, EDC. “As always, EDC is committed to helping these firms thrive, creating more quality jobs for San Diegans.”

KEY FINDINGS

  • San Diego is a top Life Sciences growth market among AI-ML peer metros. The region has nearly three times as many Life Sciences jobs as the national average and commanded more than 13 percent of domestic venture funding into the industry in 2021.
  • San Diego’s Life Sciences companies are in the early stages of AI-ML adoption, paving way for exponential impact. While several San Diego Life Sciences subindustries have leveraged AI-ML technology in significant ways, just 18 percent of local firms are engaging with AI-ML.
  • San Diego Life Sciences companies have an outsized appetite for AI-ML talent but lag peer metros in accessibility and compensation. Local Life Sciences employers’ hiring for AI-ML talent largely demand post-secondary education but offer relatively low advertised compensation as compared to peer metros, which hinders the ability to compete for talent.
  • San Diego’s AI-ML talent pool is active and growing. The region already has a strong and growing supply of more than 15,000 AI-ML professionals across all industries. Rising degree completions in interdisciplinary fields, alongside new programs dedicated to producing AI-ML talent promise to deepen the talent pool.

“Whether for venture capital investment, jobs, talent, or innovation, San Diego is an undeniable leader in Life Sciences—changing the way patients around the world experience healthcare,” said Jennie Brooks, Senior Vice President at Booz Allen Hamilton—board chair and underwriter of the EDC study series—and leader of the firm’s 1,200+ person San Diego office. “For less time and money, the integration of AI-ML can help firms further accelerate scientific discovery, but we need the talent to make it happen. While the Life Sciences proved resilient amid the pandemic, talent gaps are pervasive—with pay and access as the primary threats to our economic competitiveness.”

Life Sciences is an integral and rapidly growing piece of the San Diego regional economy. In 2021 alone, San Diego Life Sciences companies pulled in 13.1 percent of the $38.6 billion invested into Life Sciences nationwide. Supporting this growth, San Diego ranks fourth (4,300 in 2020) in Life Sciences degree completions among peer metros. Future and ongoing investment in Life Sciences companies and talent—most especially around compensation and accessibility—will ensure the longevity of this high impact industry and support its ability to compete.

“Our Informatics and Predictive Sciences team in San Diego is deploying AI-ML to accelerate the drug discovery process. These approaches benefit virtually every aspect of drug discovery from accelerating the rate at which our chemistry teams can optimize compounds, to allowing us to better predict which patient populations are most likely to benefit from a novel medicine. The objective is to enable BMS to bring successful and safe medications to patients faster by leveraging AI-ML,” said Neil Bence, Ph.D., Vice President of Oncology Discovery and San Diego Site Head, Bristol Myers Squibb

The study series is underwritten by Booz Allen Hamilton and produced by San Diego Regional EDC.  Learn more about EDC’s research here.

FULL STUDY AT LIFESCIENCES.SANDIEGOAI.ORG

Read the full AI series

San Diego small businesses pitch for Dutch investment as part of mayoral trade mission

By Bree Burris,

Trabus Technologies and Nano PharmaSolutions join delegation to Netherlands to drive local growth

This week, as part of Mayor Todd Gloria’s trade mission to the Netherlands, coordinated by World Trade Center San Diego (WTCSD), an affiliate of EDC, San Diego small businesses pitched their technology solutions to potential international partners and investors. Trabus Technologies (TRABUS) and Nano PharmaSolutions, both San Diego-based, minority-owned small businesses, joined this three-day trip to establish business relationships, pursue investment, and grow local jobs.

San Diego is the birthplace of many successful large, multinational companies, including Qualcomm who is represented in the delegation as well. However, small businesses—those with fewer than 100 employees—are the backbone of the regional economy and drive regional economic growth and innovation. Small businesses employ more than 60 percent of San Diego County’s workforce, nearly double the national average, and represent nearly 98 percent of the region’s firms. Yet small companies face outsize barriers to international expansion.

“Having an economy driven by small, innovative companies has been great for San Diego, and we want to support their expansion into overseas markets so they can stay strong and competitive in their industries,” said San Diego Mayor Todd Gloria. “This trade mission gives us the chance to lay that groundwork for small businesses that face headwinds overseas.”

In order to drive economic resilience, Mayor Todd Gloria and WTCSD have prioritized small businesses as part of the Netherlands trade mission. TRABUS and Nano PharmaSolutions—both innovative, minority-owned small businesses involved in WTCSD’s export accelerator program MetroConnect—pitched to the Port of Rotterdam and investors at the Leiden Bio Science Park respectively:

  • TRABUS and Port of Rotterdam: TRABUS is a service-disabled, veteran- and minority-owned small business providing innovative solutions to the U.S. government and private sector. The 50-person TRABUS team specializes in the development of technology across five major portfolios—wireless technologies, artificial intelligence and data science, maritime transportation, environmental informatics and cybersecurity. To be spotlighted in its pitch to the European port, TRABUS has developed the first AI-based voyage planning software, RippleGo, for the inland waterways. While the SaaS product is currently being tested on U.S. waterways, RippleGo could have tremendous potential to enhance voyage planning and supply chain logistics on EU based waterways for greater economic efficiencies.

 “We are excited about the potential partnerships and opportunities to work with the European maritime industry. The EU has an impressive, interconnected waterway network already. We hope to learn more about their network and offer up some of our technologies that can aid in waterway management and intermodal supply chain logistics,” said Art Salindong, Managing Director, TRABUS.

  • Nano PharmaSolutions (NPS) and Leiden Bio Science Park: A platform technology startup for nanodrug delivery of small molecule drugs, NPS offers improved solubility and convenient dosage form development. Founded in 2019, the company is seeking Seed and early-stage VC investment, with plans to expand into the European market and access increased pharmaceutical customers in the years ahead. NPS plans to co-manufacture clinical trial materials for their customers at Mikart Pharmaceutical, a contract manufacturing organization in Atlanta, GA, beginning Q3 2023. Mikart is a commercial scale oral dosage form company, which can support NanoTransformer™ nano-granulation and downstream dosage form manufacturing and QC activities.

“Not only does our NanoTransformer™ technology expedite drug development at a lower R&D cost, but it helps drugs absorb into the body more quickly and efficiently” said Dr. Kay Olmstead, Founder & CEO, NPS. “This is an incredible opportunity to share our story and build partnerships at the famous Leiden Bio Science Park, and we’re excited about what’s to come.”

“With the right partners, small companies that solve important problems—like TRABUS and Nano PharmaSolutions—become big companies that change the world. That has always been San Diego’s story, and it is why we work so hard to open doors for innovators and entrepreneurs both overseas and back at home,” said Nikia Clarke, executive director of WTCSD and SVP, EDC.

This session is one of a dozen meetings and programs on the three-day trade mission to the Netherlands, September 26—29, 2022. See a summary of the trip here and follow along for more: #SDinNL

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The trade mission is organized by WTCSD, an affiliate of the San Diego Regional EDC, with assistance and support provided by the Consulate of the Netherlands, and sponsorship by ASML, Lufthansa, and Qualcomm Technologies.

 

Mayor, WTCSD delegation cut ribbon on Qualcomm Amsterdam operation

By Bree Burris,

Today as part of Mayor Todd Gloria’s trade mission to the Netherlands, coordinated by World Trade Center San Diego (WTCSD), an affiliate of San Diego Regional Economic Development Corporation (EDC), Qualcomm Technologies Netherlands B.V., cut the ribbon on Matrix One in Amsterdam. In the Amsterdam Science Park, Matrix One will serve as Qualcomm Technologies Inc.’s largest AI hub outside of the U.S.

The cornerstone of San Diego’s technology ecosystem, Qualcomm is a global leader in 5G wireless technologies. Per a 2018 report, the company supported more than 28,000 San Diego jobs and had a $4 billion local economic impact. For every job at Qualcomm, an additional 1.8 jobs were supported elsewhere in San Diego economy.

“Nearly 40 years ago, a small tech company made a commitment to this region that would shape our innovation ecosystem—and our world—as we know it,” said San Diego Mayor Todd Gloria. “I’m proud to support Qualcomm’s continued growth in San Diego and around the world.”

Amsterdam Science Park is home to one of Europe’s biggest concentrations of scientific talent. The unique combination of high-quality education, pioneering research and knowledge-intensive business boosts the kind of innovation that will transform our society in the future.

“With our move into the new Matrix One building in Amsterdam Science Park, I am very happy to see us well positioned for further growth. Our highly innovative AI research in diverse topic areas and continued collaboration and co-location with the University of Amsterdam confirm us as the prime employer for AI & ML researchers and engineers in the region,” said Michael Hofmann, Director, Engineering, Qualcomm Technologies Inc.

The trade mission is organized by WTCSD, an affiliate of the San Diego Regional EDC, with assistance and support provided by the Consulate of the Netherlands, and sponsorship by ASML, Lufthansa and Qualcomm Technologies. This session is one of a dozen meetings and programs on the three-day trade mission to the Netherlands, September 26—29, 2022.

see a summary of the trip here

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