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 September Monthly Report here.

Monthly Report – July 2021

A note from Mark Cafferty

Over the last several months, our work at EDC has had to move and change in some significant ways to respond to the economic conditions around us. And while this is always a part of our work and planning, it is safe to say that 2020—and the early stages of 2021—challenged us greatly and taught us a lot about our work and our economy, as it did all of you.

Investors and community partners often ask me what a day or a week at EDC looks like—some are just curious what the actual work feels like on a day-to-day basis; others are interested in knowing what we are seeing and experiencing through the businesses we work with to better understand if their needs and priorities may signal bigger or broader economic trends, challenges, or opportunities for the region.

As always, we do all that we do with an eye on building a stronger, more inclusive economy, producing more skilled workers, creating more quality jobs within our small businesses, and establishing more thriving households and a better quality of life for businesses and residents in all corners of the San Diego region.

Read more from Mark.

By the Numbers

  • 6.4% San Diego County unemployment rate
  • 194 businesses assisted year-to-date
  • 8.9K jobs impacted year-to-date
  • $3.5B economic impact of region’s cybersecurity cluster

Featured Stories

Investor Recognition

  • CBRE
  • Charter Communications
  • City of Carlsbad
  • City of Escondido
  • Evans Hotels
  • Hines
  • HomeStreet Bank
  • Katz & Associates
  • Lowe Enterprises
  • Lytx
  • Newport National Corporation
  • Options for All
  • Padres Pedal the Cause
  • PCL Construction
  • Procopio
  • Qualcomm
  • San Diego Housing Commission
  • San Diego Padres Baseball Club
  • Steinberg Hart
  • Willis Allen Real Estate

See our August Monthly Report here.

Monthly Report – June 2021

A note from Mark Cafferty

Despite the State of California “reopening” last week, I think I have accepted the fact that things will not truly be back to normal for a very long time; yet at the same time, we see signs all around us that the way of life we all knew before the pandemic is starting to resume. In the months ahead, Team EDC will begin returning to the office much more regularly.

While numerous things have changed about our work at EDC, the regional goals that we set for 2030 remain unwavering. The need to develop more quality jobs within our small businesses, more skilled workers, and more thriving households across San Diego has only become more prominent. Now more than ever, these Inclusive Growth goals must be our guideposts in re-establishing San Diego’s economic resiliency, growth, and well-being.

Read more from Mark.

By the Numbers

  • 6.9% San Diego County unemployment rate
  • 181 businesses assisted year-to-date
  • 8K jobs impacted year-to-date
  • $763.5K median San Diego home price

Featured Stories

Investor Recognition

  • Bridgewest Group
  • Colliers International
  • Dentons
  • Jacobs Center for Neighborhood Innovation
  • Jerome’s Furniture
  • Neighborhood House Association
  • Paul, Plevin, Sullivan & Connaughton LLP
  • Teradata
  • ThermoFisher Scientific

See our July Monthly Report here.

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.
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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 – December 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