San Diego Regional Economic Development Corporation released a study— Qualcomm’s Contribution to San Diego’s Economy, showcasing how the company’s investment in the community has impacted the industry, economy and region as a whole. Since its humble beginning in 1985, Qualcomm has been at the forefront of innovation, entrepreneurship and research and development (R&D.) It settled with a home base in San Diego, providing a significant economic impact and tremendous contributions to our region since its founding.
Qualcomm is not only a technology industry leader in our region; it also engages the marketing, accounting, legal services, consulting, environmental and engineering industries in San Diego, in-turn creating jobs and opportunities along every step of the company’s tech journey. Just in 2018, Qualcomm had an economic impact of approximately $4 billion in the San Diego economy. To put that into perspective, it’s the equivalent of 41 Breeder’s Cup World Championships, 27 San Diego Comic-Cons and 3.6 San Diego Convention Centers.
Further, in 2018, Qualcomm created approximately 1,600 job postings, recruiting top-tier entrepreneurial talent while continuing to dedicate resources to strengthening our communities and educating the next generation. To its core, Qualcomm understands the importance of investing in the workforce of tomorrow. They have done just that through an interactive tutorial program called Thinkabit Labs, which engages students from different backgrounds and inspires them to be the next generation of inventors – combining science, technology, engineering and mathematics (STEM) for an educational and hands-on learning experience. Through Thinkabit, students mature by learning real-world problem-solving skills, collaborate in teams and motivate creativity on a myriad of levels. Qualcomm has hosted students from 107 schools across San Diego, inspired close to 22,000 local students and helped them create more than 5,000 inventions. Over the course of this program, Qualcomm has expanded and collaborated with 20 school districts and organizations.
Just as Qualcomm has invested into our youth, it has equally invested into our local communities. Since 2000, Qualcomm has donated more than $355 million to the San Diego community from both Qualcomm and the Qualcomm Foundation. Just in the last five years, Qualcomm employees have donated to more than 1,000 local organizations, requested matches for more than 17,900 organization and contributed more than $26 million to local communities. Qualcomm truly is a trailblazer for local philanthropy.
Many people think of Silicon Valley as the premier technology hub in America, however Qualcomm is working tirelessly to bring that title to San Diego. It’s no secret that Qualcomm is one of the leaders in 5G and also a premiere leader in creating technology the world loves. More than 130,000 patents and patent applications have come from Qualcomm in the past year. While it couldn’t have been done without our San Diegans, this type of technology and innovation is something that should be celebrated. Roughly 12 percent of the region’s total tech talent is employed by Qualcomm. To break down the impact on local jobs, Qualcomm has created: 10,170 induced jobs, which come from the result of local spending of labor income; 7,680 indirect jobs, the effect of local, inter-industry or B2B spending through existing economic structure; and 10,030 Qualcomm employees, which all adds up to an outstanding 27,880 total jobs. Because of this, for every job at Qualcomm, an additional 1.8 jobs are supported elsewhere in the San Diego economy. It truly is the job multiplier – integrating other companies and industries to provide support and collaboration that leads to industry-leading technology.
Our economic study “Qualcomm’s Contribution to San Diego’s Economy” shows some of the great contributions that Qualcomm has given to the San Diego region, but it wouldn’t be possible without the people. Thank you to the communities, employees and organizations that are helping build San Diego.
**Read the full economic impact assestment.**
*Qualcomm sponsored this study and provided employee data for EDC’s impact analysis.*