Monthly Report – May 2021

A note from Lauree Sahba

Throughout the country, May is recognized as Small Business Month. More than ever before, we are all-in for celebrating the passion and resilience of San Diego’s small businesses, the backbone of our local economy. Over the last 14 months, the COVID-19 pandemic turned our economy upside down, impacting small businesses in ways we could never have imagined. And yet against all odds, many are surviving. EDC is committed to addressing the systemic inequities that exist in this region and across the country. With and through our investors, we continue to work toward building a more resilient economy through programs like MetroConnect and the Export Specialty Center; eliminating barriers to opportunity through programs like Advancing San Diego and the Anchor Collaborative; and creating pathways to growth, especially for economically disadvantaged business owners, through a program that will launch soon in partnership with GoSite. Stay tuned for more.

Read more from EDC’s COO.

By the Numbers

  • 6.9% San Diego County Unemployment Rate
  • 181 Businesses Assisted year-to-date
  • 8K Jobs Impacted year-to-date
  • 92% Higher median household income associated with ESOP business model

Featured Stories

Investor Recognition

  • BioMed Realty
  • Cox
  • Cultura
  • General Atomics
  • National Core
  • San Diego County Regional Airport Authority
  • San Diego County Water Authority
  • San Diego Fluid Systems Technologies
  • Scripps Health
  • Strategic Communications
  • Sudberry Properties
  • The Burnham Foundation

See our June Monthly Report here.

Monthly Report – April 2021

A Note from Dr. Clarke

A note from Dr. Clarke…

When we relaunched World Trade Center San Diego (WTCSD) in 2015 as an affiliate of EDC, it was with the goal to align the global competitiveness agenda of the region with its economic development priorities. More than five years later, the global economy faces some of the most significant disruptions in a generation. And yet, if this year has taught us anything, it is that we are a global society that is inextricably connected. San Diego’s economic evolution has demonstrated that global competitiveness and domestic resilience reinforce each other. That is why, alongside civic and business leaders, we were proud to launch Go Global 2025: San Diego’s Trade and Investment strategyRead more.

By the Numbers

  • 8.1% San Diego County Unemployment Rate
  • 168 Businesses Assisted year-to-date
  • 7.9K Jobs Impacted year-to-date
  • 512K Impressions across EDC social channels n Q1

Featured Stories

Investor Recognition

  • Brookfield Properties
  • Cisterra Development
  • City of San Marcos
  • Colliers International
  • MAAC
  • San Diego & Imperial County Community College Association
  • SeaWorld San Diego
  • Solar Turbines
  • Unibail-Rodamco-Westfield

See our May Monthly Report here.

Monthly Report – March 2021

A Note from our CEO

One year ago, almost to the day, we decided to move our EDC board meeting online and announced to our team members that we would be closing the office for a few weeks. We decided to cancel all in-person meetings and events as well. Little did any of us know then how the next 12 months would unfold. The past year has been difficult on everyone in immeasurable ways. To try to recap any of it would almost cheapen the challenges, loss, successes, struggles, triumphs, and trials that so many have gone through. Yet through it all, we continue to draw inspiration from those who have been on the frontlines, supply lines, and everywhere else where citizens and workers have stepped in to do their jobs to ensure the safety and stability of those around them. This economic recovery we find ourselves in will be long, challenging, and at times, heartbreaking. But it will also make us stronger, more resilient, and more mindful of our connectedness to each other. Read more.

By the Numbers

  • $2.7B VC investment in San Diego’s healthcare industry in Q4 2020
  • 121 Businesses Assisted year-to-date
  • 7.7K Jobs Impacted year-to-date
  • $18B North County manufacturing economic impact

Featured Stories

Investor Recognition

  • Bank of America
  • Carrier Johnson + Culture
  • Eastridge Workforce Solutions
  • Greater San Diego Association of Realtors
  • H.G. Fenton
  • Kaiser Permanente
  • LBA Realty
  • Otay Mesa Energy Center
  • ResCare
  • San Diego Gas & Electric
  • San Diego Zoo Wildlife Alliance
  • South Bay Community Services
  • Stockdale Capital Partners
  • Takeda

See our April Monthly Report here.

Monthly Report – February 2021

A note from our CEO

Over the last few years, our work at EDC has shifted to focus on our full economic footprint across the county. In everything we do, we strive to implement programs, strategies, and services that will help us double our supply of skilled workers, enable our small businesses to create more competitive jobs, and increase the number of thriving households throughout the region. Now more than ever, we know that our work needs to be both meaningful and measurable to meet these goals. And we have little time to waste. Read more from Mark.

By the Numbers

  • 8% San Diego County unemployment rate
  • 26 business assisted in 2020
  • 267 jobs impacted in 2020
  • 2.5% Of reported spend by local anchor institutions can be traced back to San Diego

Featured Stories

Investor Recognition

  • Junior Achievement
  • National University
  • Sharp Healthcare
  • Verizon

See our March Monthly Report here.

Monthly Report – January 2021

A note from Dr. Nikia clarke:

Every year at EDC, our team spends November and December moving through a structured goal setting process together with our investors, our executive committee, and our board. We work to establish objectives for the year that are responsive to the demands of current economic conditions; that are led by the businesses that create jobs for San Diegans; and that have measurable outcomes that contribute to prosperity and competitiveness across the binational region. Learn more about our 2021 goals.

By the Numbers

  • 6.6% San Diego County unemployment rate
  • 365 business assisted in 2020
  • 8.2K jobs impacted in 2020
  • 476 Companies assisted with COVID-19 relief in 2020

Featured Stories

Investor Recognition

  • Burger Construction
  • CDC Small Business Finance
  • City of Encinitas
  • Cubic
  • Dexcom
  • ESET
  • Illumina
  • ICE
  • ITjuana
  • Layton Construction
  • ReproMagic
  • Southwest Airlines

See our February Monthly Report here.

December Monthly Report

EDC Monthly Report – Deceember 2020

A note from our CEO:

This year was unlike anything anyone could have predicted. Our communities grappled with unimaginable loss brought on by COVID-19, a social and racial justice reckoning, an ever-contentious political landscape, and so much more. And yet, here we are—turning the page into the New Year, still with the same problems of 2020, but with greater resilience, forward thinking, and commitment to inclusion. With and through our nearly 200 investors, EDC worked directly with nearly 500 San Diego businesses through crisis and recovery. Learn about this work and more in our Top 20 in 2020, and read on below for our month in review.

By the Numbers

  • 7.7% San Diego County unemployment rate
  • 359 business assisted year-to-date
  • 8K jobs impacted year-to-date
  • 15 Programs identified as Preferred Providers of business talent

Featured Stories

Investor Recognition

  • Alexandira Real Estate Equities, Inc.
  • Insulet Group
  • Junior Achievement
  • Meyers Nave
  • Mitsubishi Motors
  • WD-40

See our January Monthly Report here

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

September Monthly Report

Monthly Report – September 2020

A note from our board chair Julian Parra:

As I take on the role of board chair for the next two years at San Diego Regional EDC, I am fortunate, blessed, and humbled by the opportunities that life has given me. I also recognize that my story is not the norm for Latino immigrants in this country and that my journey thus far is not particularly common for a city kid from Chicago. I feel both an obligation and responsibility to use this time at EDC wisely, effectively, and purposefully. And as the threats and realities of COVID-19 and racial injustice continue to grip our community and our economy, like many, I feel the urgency and the need to accelerate the recovery that lies in front of us. From the years following the Great Depression to those following the Great Recession, every recovery that the American economy has experienced has increased systemic poverty and widened the inequalities in Latino and African American communities. Too often, in a rush to restore economic normalcy for some, entire segments of our communities have been left further behind and unable to find and maintain their footing on a new and changing economic foundation. Our commitment at EDC is to do everything we can—drawing on the breadth and depth of every partnership and relationship we have— to get this recovery right. Read more.

By the Numbers

  • 12.3% San Diego County unemployment rate
  • 299 business assisted year-to-date
  • 6.3K jobs impacted year-to-date
  • 43 interns places in small companies

Featured Stories

BD Deemed Essential; Remains Operational Amid Uprise of COVID-19

Reopening Your Small Business

San Diego Science & the Global Pandemic: A Recap

Investor Recognition

  • City of Vista
  • Clearway
  • CMTC
  • Gafcon
  • General Dynamics
  • Intesa
  • Kilroy Realty
  • Murphy Development
  • Nfinit
  • PLNU
  • ResMed
  • SDSU

San Diego is one of the first regions to deliver medical specimens via drones

Blood samples delivered by drone? Medical specimens via drones may soon become a reality thanks to a new partnership between UPS Flight Forward and Matternet, in conjunction with UC San Diego Health.

Drone on black stand at UC San DIego in front of large building

Medical specimens take flight

Last week, the first medical specimens were delivered by drone as part of a larger effort to integrate drones into San Diego’s airspace as part of the Integration Pilot Program. UC San Diego Health will be utilizing UAS as a means to deliver medical specimens and supplies to expedite health care services. It has become common practice for labs to operate separately from a hospital. This new partnership may mean faster diagnosis, treatment, or even peace of mind.

“Right now, most biological samples must travel between sites by courier car, within designated hours,” said James Killeen, MD, clinical professor of emergency medicine and director of information technology services at UC San Diego School of Medicine in UC San Diego’s announcement. “That leaves the system vulnerable to the vagaries of road congestion, accidents, construction, and more. Travel time can be slow and unpredictable. A drone can fly over such obstacles in a much more direct way, and take just a few minutes to cover the same distance.”
If successful, drones may even be used for organ transport in the future.

Why San Diego is creating a drone hub

According to the FAA Aerospace Forecast and Drone Analytics, the global drone industry is projected to be worth $43 billion by 2024. As a region, San Diego has made a name for itself by capitalizing on nascent technologies that turn into major economic engines – think genomics and ICT/satellite technology.

That’s why in 2017, EDC – in collaboration with the City of San Diego – spearheaded San Diego’s application to serve as a site for the Federal Aviation Administration’s (FAA) Unmanned Aerial System (UAS) Integration Pilot Program (IPP). San Diego as one of 10 jurisdictions that received the designation and the densest urban environment selected.

Today, EDC serves a much larger role as the program manager through an agreement with the City of San Diego. In addition to streamlining the process and clearing regulatory hurdles for operators (think companies like Matternet), the IPP also looks to position San Diego as a UAS center of excellence by encouraging the growth of the industry and building homegrown talent.

To achieve these goals, the IPP has four focus areas (International Relations, Environmental Survey, Public Safety, and Package Delivery), and boasts over 20 private, non-profit, government partners.

How the IPP launched SD’s first medical specimen flight

On  February 25, the FAA officially approved the UC San Diego Health flight route that enabled Matternet, as the UAS operator, to carry out this mission until April 2023. UC San Diego is the second hospital system in the nation to transport medical specimens via drones.

Related EDC articles and research:

Two years after expanding to San Diego, Canadian company enters clinical trials with drug to treat metastatic breast cancer

 5 business leaders in front of PMD sign to celebrate their expansion
Phoenix Molecular Designs announces expansion to SD in June 2017

In June 2017, Phoenix Molecular Designs(PMD), a Canadian biotech company working on a breast cancer therapy, announced it was expanding to San Diego during World Trade Center San Diego’s Trade Mission to Vancouver. Over two years later, PMD- which now has an outpost at JLabs – is now one step closer to bringing its life-saving treatment to market. And it’s happening because of PMD’s clinical work in San Diego.

Phoenix Molecular Designs’ therapy is developed to treat triple-negative breast cancer. This aggressive form of cancer is often likely to become metastatic, and has a poorer prognosis than other forms of breast cancer. In 2019, nearly 270,000 individuals will be diagnosed with breast cancer in the US alone. Up to 20 percent of those new cases – over 50,000 – are estimated to be the triple-negative type.

But thanks to PMD, there’s a new form of hope.

The company has officially entered Phase 1/1b clinical trials for PMD-026 with the FDA, meaning they are able to administer the drugs to their first patients.

“Dosing the first patient in this newly initiated clinical trial is a paramount milestone for PhoenixMD,” said Andrew Dorr, M.D., chief medical officer of Phoenix Molecular Designs. “We believe PMD-026 to be a promising new approach to treat advanced breast cancer and we look forward to building upon this momentum in the pursuit of a potential treatment option for individuals living with advanced forms of breast cancer.”

International partnerships take time

When World Trade Center San Diego – EDC’s international affiliate – set its sights on Vancouver in 2017 for its first international trade mission, it was in hopes of spurring international partnerships in the life sciences and clean technologies sectors.

WTCSD first met Dr. Sandra Dunn, CEO of Phoenix Molecular Designs, when the international BIO convention was in town in 2017. After a quick conversation, it was clear that in order to meet their lofty goal of bringing a treatment to market, Phoenix Molecular Designs needed to expand somewhere in the U.S. with a strong biotech sector and access to top-tier clinical talent.

A few weeks later, City of San Diego Mayor Kevin L. Faulconer, World Trade Center San Diego, and a delegation of 20 senior-level San Diego leaders were in PMD’s board room in Richmond – right outside of Vancouver – helping the company plan its expansion.

Today, PMD’s presence has grown to nearly 15 employees in San Diego and with the latest funding round, may see additional growth. And its engaged other companies along the way. PMD has partnered with WuXi STA, another international company with a presence in San Diego, to develop and manufacture PMD-026.

At a time of mounting global uncertainty, it is important that San Diego continues to show up in international markets and forge partnerships. The next life-saving treatment is out there, and if San Diego’s regional track record is any indication, we may play a part in bringing it to the world.

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