Monthly Report – April 2022

A note on progress from OUR Senior Director

In 2018, EDC and a steering committee of the region’s largest employers determined that for our region to continue to grow and remain competitive, by 2030, San Diego will need:

  • 50,000 quality jobs in small businesses,
  • 20,000 skilled workers per year, and
  • 75,000 newly thriving households.

However, to do so, inclusion needs to be our focus. To achieve these goals, we must invest in and support the segments of our community that have been historically and systemically excluded from growth and prosperity—not simply because it’s the right thing to do, but because it’s an economic imperative.

Read EDUARDO’s full update

By the numbers

  • 40 regional leaders convened for EDC retreat
  • 4% unemployment rate in San Diego County
  • 16.5K San Diego payroll positions added in Jan, Feb
  • 20% increase in pre-pandemic employment in Scientific R&D

Featured stories

New and renewing investors

  • Breakthrough Properties
  • Bridgewest Group
  • CBRE
  • Cisterra Development
  • City of San Marcos
  • Colliers International
  • Cushman & Wakefield
  • Jacobs Center for Neighborhood Innovation
  • JPMorgan Chase & Co.
  • Kaiser Permanente
  • LBA Realty
  • MAAC
  • Marsh Mclennan
  • National CORE
  • Rady Children’s Hospital San Diego
  • ResCare
  • San Diego International Airport
  • Scripps
  • Soral Turbines

See our current Monthly Report

Monthly Report – March 2022

A note from OUR COO

EDC’s team, investors, and partners do our best work when we are together; this reflects our values of collaboration and inclusion and is core to our mission. But it’s been a minute…

While we safely begin to gather again, we recognize many things are different. Whether you have trepidation about returning to in-person gatherings or are eager to get from behind the Zoom screen, EDC will meet you where you’re at—offering opportunities for both interactions in the months and year ahead. Hearing from and being with our investors and partners in either setting is essential.

Read Lauree’s full update

By the numbers

  • $2.6 billion in VC funding raised in Q4 2021
  • 2.75M square feet of demand for lab space
  • 15 MetroConnect VI companies
  • 5 designated ‘Preferred Providers’ of life sciences talent

Featured stories

New and renewing investors

  • Amazon
  • Bank of America
  • H.G. Fenton Company
  • Jerome’s
  • JLL
  • SBCS

See our current Monthly Report

Monthly Report – February 2022

A note from Bree Burris

The long talked about ‘war for talent’ is more competitive than ever, with established firms upending whole hiring systems to meet the demands of today’s applicants—and still, not getting enough. You are not alone; this is not a one-company problem. In our countless conversations with HR leaders and executives, it’s clear firms across industries and size are struggling to fill their open positions (EDC included).

In a survey of 200 local businesses, hiring difficulty reached a new high in December. That same month, local San Diego employers posted more than 158,000 unique jobs—nearly half of which were new positions and predominantly in STEM. And yet, there are just 61,000 people currently unemployed in the region.

Read more from Bree

Featured Stories

See our current Monthly Report

Monthly Report – January 2022

A note from Dr. clarke

Like we do every year, our team spent the last few months of 2021 working with EDC’s executive committee, board, and investors to establish annual goals that are informed by current economic realities, led by employers, and have measurable outcomes that contribute to prosperity and competitiveness across the binational region. As San Diego emerges from a global pandemic to an economy full of contradictions—strong job growth, eye-watering VC numbers, and massive capital investment as well as widespread labor shortages, small business closures, and housing prices almost 30 percent higher than 2019—it is abundantly clear that smart economic development is inclusive economic development.

In 2021, EDC reframed our organizational goals around these fundamental building blocks of a strong economy—quality jobs, skilled talent, and thriving households—and committed to working with and through our investors to accelerate progress towards the Inclusive Growth goals.

Read more from Nikia and see EDC’s 2022 goals

Featured Stories

See our current Monthly Report here.

Advancing San Diego, employers identify highest regional talent needs

Now in its sixth round, Advancing San Diego (ASD) addresses skilled talent shortages and increases diversity in high-growth, high-demand jobs. A program of EDC and key community partners, ASD leads employer collaboratives that recognize local training programs most effectively preparing San Diegans for quality jobs; pairing students of those programs with local employers for paid internships; and strengthening community partnerships to power San Diego’s talent pipeline of tomorrow. 

To help students build meaningful careers in local, high-demand jobs in key industries, ASD welcomed its Business and Manufacturing cohorts this year, pairing 48 student interns with 25 small companies, of which 19 were woman-, person of color-, veteran-, or disabled-owned. All of the 48 student interns were considered priority students, meaning they identified with a historically under-resourced population, are a first generation or community college student, or currently live or went to high school in a low income neighborhood of San Diego. 

ASD is currently convening employers from the Healthcare industry and has recognized seven programs as Preferred Providers for their work in training Medical Assistants. Students from those programs will be placed in internships beginning in early 2022. See the full network of Preferred Providers here

Advancing San Diego by the numbers, 2021

48

student interns placed

25

small companies paired with high-demand talent

99

job applications submitted on Career Exploration Day

A core part of this work includes direct collaboration with industry. ASD convened six working groups made up of industry leaders from San Diego companies including Northrop Grumman, Rady Children’s Hospital, and Takeda, among others, who together shared the most-needed roles in their firms by sector. Each of their findings were summarized in the talent demand reports below:

These reports serve to inform curriculum for universities and education programs to develop our regional talent pipeline.

Learn more and get involved here, or contact us!

Taylor Dunne
Taylor Dunne

Manager, Talent Initiatives


Monthly Report – December 2021

A note from Mark Cafferty

The last year has certainly been interesting. Depending on who we are and where we sit, it may have seemed like a curse, a blessing, or anything in between. But without a doubt, it will all be behind us in a few weeks as we usher in the new year—full of new opportunities and new possibilities.

At some point in the years ahead, we will all look back on 2021 (and 2020 that in many ways is bundled in) and relive its ups and downs—its starts and stops. We’ll remember where we were and who we shared this year with. Beyond my closest friends and family, I will remember sharing this year with all of you, on screen or otherwise. And as we look back, the joys, successes, hardships, losses, opportunities, and challenges will likely have new perspective and clarity that only time can provide. But unmistakably—in the moment—I want to express my sincere gratitude for all of it, and for all of you.

Read more from Mark

By the Numbers

  • $25K MetroConnect grand prize awarded to Blue Sky Network
  • 54.1 San Diego Business Recovery Index
  • 5.3% unemployment rate in San Diego
  • 99 job applications submitted to local firms at Career Exploration Day

Featured Stories

New and Renewing Investors

  • Ace Parking
  • Gensler
  • The Gildred Companies
  • GoSite
  • Mitsubishi Motors
  • Taylor Guitars

See our current Monthly Report here.

Monthly Report – November 2021

A note from Mark Cafferty

As my mind continues to focus on the health of our community and our economy, I find so many of my conversations centering on the work of San Diego’s Life Sciences industry. Long an anchor of our region’s innovation economy, the Science and Biotech sectors are taking center stage in more ways than ever before—leading in vaccination and testing innovation, and in inbound financial investment and commercial real estate demand.

With all of this swirling around us, it is no surprise that a great deal of EDC’s work continues to focus on the growth and support of the skilled workers and quality jobs that power San Diego’s Life Sciences industry.

Read more from Mark

By the Numbers

  • 950 Life Sciences companies call San Diego home
  • 2.2 additional jobs are created for every job in Life Sciences
  • 5.6% unemployment in San Diego
  • 4 MetroConnect V finalists

Featured Stories

New and Renewing Investors

  • Alexandria Real Estate Equities
  • AT&T
  • Booz Allen Hamilton
  • Chevron
  • City of Chula Vista
  • HomeFed Corporation
  • Intesa Communications Group
  • National University
  • Northrop Grumman
  • Stockdale Capital Partners
  • Suffolk Construction
  • University of San Diego
  • Viasat
  • Walmart
  • WD-40

See our current Monthly Report here.

Monthly Report – October 2021

A note from Mark Cafferty

Just as we kickoff the final quarter of 2021, British Airways (BA) will resume its nonstop service between San Diego and London Heathrow. The flight that took our region’s global economic connectivity to a whole new level is finally back.

Ten years ago, the BA flight set off a new focus within our region on the role that direct, nonstop service to international markets could play in growing our economy through foreign direct investment and global trade. It was the catalyst for our Japan Airlines flight to Tokyo, our Lufthansa flight to Frankfurt, and continued strategies to expand our global reach and connectivity.

The flight also played a key role in the rebuilding of our region’s World Trade Center. We learned quickly that trade-related jobs were the kind of quality jobs we were hoping to create for more San Diegans, and that engagement with international markets could have a significant and positive impact on our region’s diverse small business community. The return of the BA flight is one important step in getting our economy back to full strength.

Read Mark’s full update

By the Numbers

  • 7 newly designated Preferred Providers of Healthcare talent
  • 13% of regional jobs are in Healthcare
  • $790K in MetroConnect export assistance grants awarded to date
  • 19M sqft of available office space in the region

Featured Stories

New and Renewing Investors

  • ASML
  • City of Encinitas
  • City of Oceanside
  • Kilroy Realty
  • Kyocera
  • Manpower
  • Port of San Diego
  • The San Diego Foundation
  • San Diego Workforce Partnership
  • Sanford Burnham Prebys Medical Discovery Institute
  • Sony
  • Systran
  • TaylorMade
  • The Clay Company
  • Marine Group Boat Works

See our current Monthly Report here.

Monthly Report – September 2021

A note from Mark Cafferty

San Diego’s healthcare workforce accounts for 13 percent of all jobs within the local economy. These more than 186,000 jobs touch the lives of every San Diegan, every day. This has never been more evident than over the last 18 months.

When the pandemic started, I remember hearing my neighbors out in the streets cheering nightly for our healthcare workers. San Diegans jumped into motion to drop off food and other gifts for personnel putting their lives on the line to treat patients across the region’s hospitals. Yet over the last several months, finding anyone acknowledging the contributions and commitments of our healthcare workforce has been much harder to come by. The conversations in the streets outside my home and on my social media feeds have moved on to other issues and topics. Yet the stresses, challenges, frustrations, and weight that we have placed on the shoulders of our healthcare workforce have only grown.

Read Mark’s full update

By the Numbers

  • 6.9% San Diego County unemployment rate
  • 201 businesses assisted year-to-date
  • 9.3K jobs impacted year-to-date
  • 17.7K increase in Q2 employment

Featured Stories

New and Renewing Investors

  • BD
  • Bristol Myers Squibb
  • Burger Construction
  • Clearway Energy Group
  • DPR Construction
  • General Dynamics NASSCO
  • Point Loma Nazarene University
  • Red Door Interactive
  • ResMed
  • San Diego State University
  • Townshend Venture Advisors
  • UC San Diego

See our current Monthly Report here.

Monthly Report – August 2021

A note from Mark Cafferty

Every two/four years during the Olympic Games we not only see the world’s greatest athletes compete with one another, we also get to see a reflection of the world around them. And sometimes it isn’t pretty or easy to watch…

I am not sure that 20 years from now I will remember who won Olympic gold in 2021 in the long jump, or who started on the basketball or soccer teams—but I know I will remember Simone Biles.

So many people around us are carrying more on their shoulders than we will ever realize. The last 18 months have only added to those burdens and made life more complex for all of us.

By stepping away from the sport when she did, and by acknowledging that the pressure being put on our young Olympians in insurmountable moments, Simone Biles has no doubt modeled behavior that will help those who are approaching their own breaking points. And gold medals and floor exercises aside, it is within these actions and convictions where we find true greatness.

Read Mark’s full update

By the Numbers

  • 7% San Diego County unemployment rate
  • 199 businesses assisted year-to-date
  • 9K jobs impacted year-to-date
  • 116K new San Diego job postings in June

Featured Stories

Investor Recognition

  • Biocept
  • CMTC
  • California State University San Marcos
  • City of Vista
  • Gafcon
  • JONES
  • JPMorgan Chase & Co.
  • MarshMcLennan Agency
  • Cross Border Xpress
  • Pacific Western Bank
  • Rady Children’s Hospital-San Diego
  • San Diego Zoo Wildlife Alliance
  • SENTRE

See our current Monthly Report here.