Tag: life sciences

Rep. Peters, Mayor Gloria to lead France trade mission to strengthen economic ties with EU

By Bree Burris,

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

In order to foster vital global economic partnerships, Congressman Scott Peters, San Diego Mayor Todd Gloria, and World Trade Center San Diego (WTCSD), the international team at San Diego Regional Economic Development Corporation (EDC), are leading a 2025 trade delegation to France. During the September 21–September 26 trade mission, business and civic leaders will promote the region’s key industries and seek to establish and strengthen business relationships across biotechnology, clean energy, maritime technologies, and tourism.

As geopolitical tensions, trade policy uncertainty, and supply chain realignments reshape the global economy, it is more important than ever for San Diego companies and institutions to strengthen ties with trusted partners in Europe. France—home to leading firms in aerospace, life sciences, clean energy, and advanced manufacturing—offers natural synergies with San Diego’s innovation-driven economy. This trade mission aims to open new pathways for collaboration, investment, and market access that will help San Diego businesses remain competitive and resilient in a complex international landscape.

“With years of enduring collaboration between France and the U.S., now is the time to reinforce our regional commitments on the world stage,” said Congressman Scott Peters. “I am eager to join WTCSD on the road—now for the fifth time—to strengthen our global collaboration, drive investments in innovation and R&D, and bolster public-private partnerships across critical industries.”

San Diego and France have shared expertise in knowledge-intensive industries, including biotechnology, aerospace and defense, and clean energy. France is San Diego’s third largest foreign investor, contributing $5.6 billion since 2014. Further, the country’s research institutions have built long-lasting relationships with San Diego’s premier universities including San Diego State University and UC San Diego. France is ranked third in Europe for R&D spending, with the Paris region ranking first worldwide for FDI in R&D and corporate projects.

Companies have also capitalized on these synchronicities. On the heels of its acquisition of San Diego-based Inhibrx, France’s largest life sciences company Sanofi announced its commitment to invest at least $20 billion in the U.S. by 2030. French aerospace giant Safran also calls San Diego home, with aerospace jobs making up nearly one-fifth of the region’s innovation employment.

Boasting one of the cleanest energy grids in Europe and producing more than half of the European Union’s nuclear energy, France is also home to the ITER fusion energy project—the largest international scientific collaboration in the world. As the project aims to create fusion energy at power plant scale, San Diego-based General Atomics is one of its largest contributors, fabricating the world’s most powerful pulsed superconducting electromagnet for ITER.

“San Diego is an undeniable force in the global marketplace, and our future prosperity depends on strengthening those ties,” said Mayor Todd Gloria. “From pandas returning to the Zoo to nonstop flights to Amsterdam to new tech jobs here at home, global engagement is delivering real results for San Diegans. I’m proud to continue this work alongside World Trade Center San Diego and Congressman Scott Peters, and to celebrate our new Sister City partnership with Marseille“

Over the five-day trade mission in Paris, Marseille, and Saint-Paul-lès-Durance, San Diego will look to build lasting institutional relationships and attract foreign investment in industries critical to the future.

Agenda items include:

  • The celebration of key partnerships including a new San Diego-Marseille Sister City Agreement; an MOU between life sciences trade organizations Eurobiomed and Biocom; and agreements for France’s Centre National de la Recherche Scientifique to place leading researchers at San Diego State University and UC San Diego.
  • Opportunities to showcase San Diego’s innovation economy and major regional development projects to foreign investors.
  • Ahead of the 2028 Los Angeles Olympics, tours and meetings with the organizers of the Paris Olympics for a best-practices discussion on infrastructure, tourism, and economic development.
  • Meeting and tour of ITER, where General Atomics’ recently-completed central solenoid magnet will be housed—a significant accomplishment for San Diego and clean energy innovation.
  • Formal meetings with major entities with investment interests in both countries, including Sanofi, LVMH Group, Dentons, and the Port of Marseille.

“As the rules of global commerce continue to shift rapidly, San Diego firms of all sizes need strong partnerships to navigate this moment,” said Nikia Clarke, executive director of World Trade Center San Diego and chief strategy officer at San Diego Regional EDC. “That’s why we lead trade missions as a region—with a diverse cross-sector delegation of both the region’s largest and smallest employers working together to find opportunity in uncertainty.”

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 nearly three dozen San Diego delegates include representatives from ASML, Ambix Ventures, Cubic Transportation Systems, General Atomics, San Diego Zoo Wildlife Alliance, and smaller businesses including French Bio Beach, GEN2X, and La Jolla Labs. Also in attendance are delegates from key agencies, academic institutions, and civic organizations such as the Port of San Diego, San Diego Regional Chamber of Commerce, SoCal French American Chamber of Commerce, San Diego Tourism Authority, Biocom, San Diego State University, University of California Office of the President, UC San Diego, and others

The trade mission is organized by World Trade Center San Diego, the international team at EDC, with assistance and support provided by the U.S. Embassy in France, the SoCal French-American Chamber of Commerce, and Dentons Paris, and sponsorship by Qualcomm, Ambix Ventures, General Atomics, and San Diego Tourism Authority.

Learn more about France and San Diego’s connection here, and follow along during the trade mission: #SDinFR. 

SD-FR data sheet

WTCSD has previously led trade missions to Singapore, South Korea, The Netherlands, Germany, the United Kingdom, Japan, Vancouver, and more.

About World Trade Center San Diego
World Trade Center San Diego (WTCSD) is the international team within San Diego Regional Economic Development Corporation (EDC). WTCSD works to further San Diego’s global competitiveness by building an export pipeline, attracting and retaining foreign investment, and increasing San Diego’s global profile abroad. WTCSD.org

For media queries or other questions, contact:

Bree Burris
Bree Burris

Sr. Director, Communications & Community Engagement

A note from Eduardo: San Diego’s 2025 mid-year check-in

By Eduardo Velasquez,

At the top of each year, we try to look ahead to which trends are most worth tracking for the potential impact each can have on our local economy. We began 2025 watching AI and affordability, as well as whether massive investments from both corporations and the federal government would translate into job growth.

We also began 2025 flagging that there would be many wild cards in the year ahead that could knock us off course. As we enter the second half of the year, we want to pause to take stock of what has been a very tumultuous six months, with both immediate impacts and long-term implications.

Affordability and AI

The housing affordability picture looks mostly the same as it did in January: dire. Mortgage rates have bounced around a narrow range while staying above six percent, and the median home price remains just above $1 million, translating to a monthly mortgage payment of about $5,300. This means the annual household income needed to qualify for a conventional loan is more than $260,000, which roughly 12 percent of all households in the region can afford.

AI adoption remains one of the most profound questions in workforce development. San Diego has once again been identified as a ‘star hub’ for AI capacity and adoption, predominantly as a region with high rates of firm readiness and job exposure to generative AI. Tech giants continue to race for AI dominance, which has led to eye-watering compensation packages, record valuations for chipmakers, and $70 billion announced in new federal investments for data centers and power grid upgrades.

What the cut?

Speaking of federal funding, the impact of federal investments on local job growth is more immediate. That’s because all the money that the federal government lined up to invest in re-shoring manufacturing, capacity building for semiconductors, and sustainable energy projects in the last few years has been cut off, significantly scaled back, or temporarily tied up. Oh, and don’t forget state and local public funding cuts.

It is worth noting that much of this remains to be settled as the courts figure out what the Trump administration can legally defund. Yet, much of it is already impacting San Diego’s economy.

New jobs data shows that through the first half of 2025, the region lost 4,900 jobs. This is not as bad as the first six months of 2024 but still trending in the wrong direction. June’s unemployment rate jumped to 4.9 percent (from 4.0 percent in May) as the number of people unemployed rose 14,200—the largest month-over-month increase since the pandemic lockdowns of April 2020.

Private sector job losses are even deeper, down 8,400 year-to-date. Every major sector in San Diego has shed jobs through mid-2025, with the exceptions of Healthcare and Social Services, Leisure and Hospitality, and State and Local Government.

Way too many wild cards in this deck

The pace of new policy directives from D.C. has been overwhelming. The lack of clarity as to whether these policy proposals will be implemented, or are legally enforceable, has been paralyzing. Whether it’s consumers, homebuilders, or manufacturers, the sentiment remains weak.

In San Diego, it’s not just bad vibes. The impacts are real.

The newly-created Department of Government Efficiency (DOGE)’s contract cancellations have started chipping away at our federal workforce, including DoD which spent $20 billion here last year. Proposals to reduce indirect costs associated with federal research grants have led to hiring freezes and layoffs in higher education and could evaporate nearly $448 million from the regional economy. The proposed cuts to NIH and NSF funding would nearly cut in half the region’s $1.1 billion that fuels the research that has led to 99 percent of drugs approved a decade ago. Congress’ latest tax law is set to increase the population of uninsured patients by 1.7 million across California and is already manifesting in workforce reductions at local hospitals, which hasn’t yet showed up in the data.

The up and down tariff threats are the top concern of local businesses that sell in global markets. As one company executive put it, retaliation from countries like China has “completely changed the growth strategy.” These impacts are felt locally in jobs losses to industries like Transportation and Warehousing (down 10 percent, year-to-date) and Retail (down almost five percent). These impacts are also felt by $1 billion less in venture capital, $500 million less in export sales, and 770 fewer employers looking to hire than a year ago in San Diego.

“If you want to go far, go together.”

There are many famous quotes about navigating uncertainty and how resilience drives success. At EDC, we often quote an African proverb: “If you want to go fast, go alone. If you want to go far, go together.”

Collaboration has often defined success in this region; it’s what makes us different.

Whether the winds change and we need to adjust our sails, or whether we fall seven times but pick ourselves up eight, let’s do it together.

As I look into my crystal ball again, I see the next six months will continue to be riddled with uncertainty and unexpected challenges. I also still see a region that is a top three Life Sciences market, a top three market for startups, has the largest concentration of military assets in the world, and the busiest land port in the Western hemisphere. So, we have a lot to build on. As your business works to navigate changing rules, reach new markets, or find talent, don’t go it alone. EDC is here to help.

Onward and upward,

Eduardo Velasquez
Eduardo Velasquez

Sr. Director, Research & Economic Development

More FROM EDC’s research bureau

More on inclusive growth

A note from Eduardo: Looking into the 2025 crystal ball

By Eduardo Velasquez,

The map is not the terrain

As I return to the crystal ball in 2025, never have I seen such a wide range of possibilities. Both the national policy and technology landscapes are primed for major disruptions that could shape San Diego’s economic fortunes in more ways than we can count. While the map provides a fairly clear direction, the terrain is difficult to predict and sure to throw us off course at some point, at least temporarily.

What is certain is that we have just wrapped up what should be viewed as another solid year for the U.S. economy. The nation added 2.2 million jobs, a growth rate slightly above the average of the last 10 years. The economy expanded at an annualized growth rate of 3.1 percent, primarily driven by consumer spending, exports, business investment, and federal government spending. Inflation has continued to moderate with the price of energy and goods falling, while the price of services continues to rise.

I see the money, show me the jobs

Locally, San Diego continues to draw venture capital to fund young companies in both Tech and Life Sciences, to the tune of nearly $6 billion in 2024. The region also added jobs, but at about half the rate of the U.S. Recent job growth has been driven by locally serving industries like full service restaurants, whereas our innovation industries have shed jobs during the last 12 to 18 months. Some of this is right sizing after a pandemic fueled surge in Life Sciences. Some of it is driven by federal incentives that have led to relocation and expansion of Manufacturing jobs outside our region.

Federal funding has fueled a half trillion-dollar investment into new manufacturing facilities nationwide over the last three years. Pre-pandemic, manufacturing employment growth in San Diego outpaced both the state and nation; since then, that trend has completely reversed.

Meanwhile, there are $132 billion in federally appropriated funds for renewable energy that remain unspent. San Diego has a small but growing Cleantech cluster that continues to innovate and provide high-paying jobs.

Additionally, the private sector has more than bought into the promise of AI, with a third of the large companies looking to pour tens of millions of dollars more into the tech and build upon the positive returns on the past investments. The question here is whether San Diego can catch the wave of investment that is going into all these foundational and enabling technologies so that our region can also benefit from the growth will bring.

AI’s double-edged sword

Speaking of AI, 2025 may be the year that will truly test the hype. Yes, investment is up, way up (see last paragraph), but job postings requiring skills in developing AI have barely budged since the launch of ChatGPT in November 2022.

Yet, the application of GenAI is seemly impacting the skills employers are looking for in new hires. Since 2019, six of the 10 fastest growing occupations in Life Sciences have been for non-scientific and non-technical roles. In Tech, seven of the 10 fastest growing occupations have been non-engineering, non-software roles. In fact, demand for software developers has fallen 80 percent during that time—the occupation that has topped job postings lists for the last decade in San Diego. Time will tell if the AI hype is real, but for now, there are fewer Tech jobs in San Diego than there were pre-pandemic and AI’s impact on the labor market is certainly a factor.

Affordability is about payments, not prices

Another factor impacting San Diego’s Tech cluster is remote work availability, which was lower in 2024 than in 2023 and lags the national average. Remote jobs outside of the region can be especially attractive considering San Diego’s high cost of living.

However, 2024 did bring some relief in terms of housing costs. Rents in San Diego grew much more slowly compared to recent year, up 2.6 percent. The median-priced home fluctuated throughout the year but ended where it began at just above $1 million. However, mortgage rates continued to rise, driving up the monthly payment on that same million-dollar home by $730. There are signs that it is less of a seller’s market: homes have not sold above asking price for most of the past 12 months and for-sale inventory is higher than it’s been in years. Still, the big variable in the housing market is whether mortgage rates can fall enough to spur owners currently locked into historically low rates to sell.

The year ahead

These trends—converting capital to job growth, harnessing AI to boost productivity, and unlocking home sales—will help define our regional economy in the year ahead. Of course, so will several other wild cards, such as looming public budget constraints, the prospect of trade wars, global conflict, and climate change impacts. Nonetheless, the goal remains the same: to maximize San Diego’s economic prosperity and global competitiveness through an inclusive economic development agenda, and doing so with and through our network of 150+ investors and regional partners.

In 2025, EDC will focus on amplifying the economic impact of large-scale, mixed-use developments to grow and retain quality jobs and deliver much needed housing. We will also work to elevate the value of our unique assets as a military economy, cross-border region, and innovation hub. We know where we are and where we want to go—getting there will certainly be a ride.

Happy new year,

Eduardo Velasquez
Eduardo Velasquez

Sr. Director, Research & Economic Development

 

Read 2024’s edition: Looking into the 2024 crystal ball

Read 2023’s edition: Looking into the 2023 crystal ball

More FROM EDC’s research bureau

More on inclusive growth

Harnessing the power of cross-border manufacturing in San Diego

By Lindsey Silvia ,

This blog post is a part of a larger series in celebration of Manufacturing Month, sharing key trends from our report on San Diego’s Manufacturing sector.

READ THE NEW REPORT

Cross-border manufacturing in San Diego has significant untapped potential. With five ports of entry, the Baja California region is one of the most accessible and lucrative for international expansion. While some companies are just beginning to explore it, many of San Diego’s most successful, innovative brands have already established a manufacturing presence in Tijuana and surrounding cities.

According to Tijuana EDC, Baja California already has 960 manufacturing facilities with plenty of room for growth. The manufacturing industry represents 65 percent of Tijuana’s GDP. Just 30 minutes to the south, manufacturing in Mexico offers cost effective products without compromising quality, backed by a steady supply of highly skilled labor.

Here are three common myths about cross-border manufacturing and how San Diego companies have been able to flourish in the binational region.

    1. The myth: Lack of infrastructure makes it more expensive to manufacture in Mexico than advertised.

      The region has made significant strides with modernizing infrastructure including upgrades to many points of entry. For example, major investments in the Otay Mesa II Port of Entry, funded primarily by the US, are set to reduce traffic congestion by up to 50 percent. This improvement will further enhance the cost efficiency of cross-border trade and manufacturing operations, making it even more attractive for San Diego companies to consider these opportunities.

      Taylor Guitars is a prime example of a San Diego company benefiting from cross-border manufacturing. Its operations in Tecate are thriving due to cultural alignment and strategic advantages. A business leader at Taylor Guitars highlights the key benefits and programs it utilizes, such as the IMMEX program, which allows temporary importation of goods that are transformed or repaired and then exported.

      “Manufacturing in both San Diego and Tecate gives Taylor Guitars a competitive advantage. Our Tecate operation allows us to produce quality guitars at accessible price points, reaching a broader audience, while our San Diego facility focuses on more specialized, premium instruments. Together, they enable us to deliver a diverse range of products without compromising on craftsmanship or innovation.”

      – Ed Granero, VP of Product Development, Taylor Guitars

    1. The myth: Mexico doesn’t offer high-quality manufacturing. 

      Many manufacturers in Tijuana work with leading global companies in high tech industries including Medical Devices, Electronics, Automotive and Aerospace. These companies require high quality and rigorous quality control measures to ensure compliance with international standards. For instance, ResMed operates a manufacturing facility in Tijuana, producing advanced medical devices like CPAP machines with stringent quality assurance protocols. Similarly, other high-tech firms like Qualcomm and Medtronic trust local partners to deliver precision-engineered products that comply with their exacting requirements.

    1. The myth: There isn’t a strong talent pipeline present in Mexico.

      The presence of high-quality manufacturing and modernized infrastructure is complemented by access to a highly capable talent pool, supported by top universities in Tijuana and advanced manufacturing capabilities in the region.

      Tijuana provides a hub for a strong pool of high-skilled workers. Baja California is home to many world class universities, 37 of which are in Tijuana. Among these include top-rated schools University of Tijuana and the Tijuana Institute of Technology, which contribute to more than 3,700 annual degrees in STEM fields. Many graduates choose to remain in the region, where they can live at a lower cost and help drive the local economic growth.

Cross-border manufacturing offers San Diego companies a powerful combination of cost efficiency, advanced capabilities, and access to world class talent. By leveraging the benefits of San Diego’s proximity and relationship with Baja California, manufacturing companies not only reduce their costs but also enhance production capabilities and increase competitiveness. As infrastructure investments continue to improve cross-border logistics, and with the support of programs like IMMEX, the future looks bright for San Diego’s cross-border manufacturing landscape.

Resources to explore cross-border trade opportunities

  • World Trade Center San Diego and its Export Specialty Center works directly with companies—free of charge—to help them expand internationally and grow in San Diego.
  • Tijuana EDC provides specialized business consulting and logistics services for companies that are considering choosing contract manufacturing in Mexico to grow.

This blog post is a part of a larger series in celebration of Manufacturing Month. Click here to look at our previous deep dive on San Diego’s strong manufacturing talent pool. To read our full analytical manufacturing report click here.

Building a bright future: The faces of San Diego Manufacturing

By Lindsey Silvia ,

This blog post is a part of a larger series in celebration of Manufacturing Month, sharing key trends from our report on San Diego’s Manufacturing sector.

READ THE full REPORT

San Diego’s Manufacturing sector is not just a cornerstone of the local economy; it also provides unique and well-paying career opportunities for San Diegans with great prospects for advancement. With an average wage of $103,000 per year, manufacturing jobs in San Diego pay 31 percent more than non-manufacturing jobs in the region on average. The industry supports approximately 100,000 jobs across a diverse array of industries including Craft Brewing, Life Sciences, Aerospace, and Tech as well as emerging fields like Cleantech.

Talent is a key driver for many manufacturers looking to setup or expand in the region. Companies are actively seeking local graduates, offering summer internships, and creating opportunities for individuals from historically underrepresented communities. This proactive approach to talent acquisition ensures that manufacturers in San Diego continue to thrive and innovate—and supports real San Diegans in building meaningful careers.

EDC sat down with a few local manufacturing experts to hear their experiences and insights. The goal is to showcase the diverse range of individuals and companies within the manufacturing sector and highlight the opportunities available to those interested in pursuing a career in this industry.

Employee spotlights: Real stories, real success

ASML: Working at the cutting edge of technology

Austin graduated with a degree in materials physics from UC San Diego in 2021 and holds a master’s in engineering from UC Irvine. After his stint in Orange County, he was determined to build a life in San Diego and returned to the area seeking a career in manufacturing. Although his education opened doors at top companies nationwide, Austin knew San Diego was home and was determined to carve his path here. With experience in research, he pivoted to manufacturing where he could see the direct impact of his work. Now working at local tech giant ASML on the New Product Introduction team, he integrates new products into the manufacturing process and ensures they meet customer expectations. Reflecting on his journey, Austin emphasized the importance of internships for gaining industry exposure and building professional networks. His connection to the San Diego community, formed during his undergraduate studies, has motivated him to pursue a career in the region. Austin is optimistic about the future of the semiconductor industry, noting its growth and increasing demand for chips driven by AI, and computing and electric vehicles.

TriLink BioTechnologies: Cultivating a culture of quality and inclusion

Jennifer is a dedicated member of the TriLink BioTechnologies team, part of the Maravai LifeSciences parent company, which helps other businesses develop and manufacture products vital for understanding genetic processes and developing biotechnological applications like vaccines and gene therapies. A graduate of UC San Diego, Jennifer started her career as a lab assistant in 2001, and over the years has taken on multiple roles leading to her current role as Associate Director for Quality Product Lifestyle, where she is dedicated to enhancing quality control within the company. Jennifer is passionate about mentoring and advancing female leadership in the Life Sciences industry, aiming to elevate women in executive roles. She values San Diego’s collaborative Life Sciences ecosystem, where companies share knowledge to develop life-saving treatments.

Dr. Bronner’s: Growing up in the culture of care

Blanca has navigated an inspiring career since joining Dr. Bronner’s in 2007. Joining the Vista-based company directly out of high school, she found her niche in manufacturing, driven by passion for the products she helps create. Over the years, Blanca has ascended through various roles, culminating in her current position as Director of Production. She cherishes the culture at Dr. Bronner’s, which prioritizes employee care and work-life balance, and she appreciates the company’s approach to challenges like the high cost of living in San Diego. Blanca’s experience as a woman in a traditionally male dominated industry has equipped her with resilience and determination, and inspired her advocacy for other women. Her passion for San Diego’s vibrant, inclusive culture mirrors her dedication to shaping manufacturing in the region.

Finding skilled talent for your manufacturing facilities

San Diego’s manufacturing sector is not only an economic force but it’s also a community of innovators and skilled technicians where professionals like Austin, Jennifer, and Blanca have built rewarding careers with opportunities for advancement. More than offering a job, this industry can provide fulfilment and a well-balanced and thriving lifestyle in the San Diego region.

If you’re a manufacturer looking for skilled talent like those profiled above, leverage these recruiting tools:

  • Develop an apprenticeship program: In partnership with Apprenti, EDC can assist companies with establishing apprenticeship programs in non-traditional fields like advanced manufacturing, information technology, cybersecurity, and more.
  • Connect with Verified Programs: To strengthen your company’s talent pipeline, EDC can connect employers with local post-secondary training programs that have been vetted and recognized for strong efforts to teach relevant curriculum and serve a diverse student body.

What’s next?

This blog post is a part of a larger series in celebration of Manufacturing Month. Click here to look at our previous deep dive on San Diego’s unique manufacturing strengths and opportunities. To read our full analytical manufacturing report click here.

Manufacturing in San Diego: More vital than you think

By Lindsey Silvia and Emily Irion,

This blog post is a part of a larger series in celebration of Manufacturing Month, sharing key trends from our report on San Diego’s Manufacturing sector.

READ THE full REPORT

San Diego is known for its sunny coastlines, vibrant tourism, and thriving biotech industry, but its Manufacturing sector is equally as diverse and dynamic. Manufacturing in the region is done using the most cutting-edge technology as well as traditional craftsmanship. This diversity reflects the region’s ability to adapt and evolve while creating a robust economic landscape with opportunities across a variety of industries.

The impact of the Manufacturing sector on San Diego’s economy may go unnoticed, but it’s a crucial contributor to the region, generating more than $47 billion annually when accounting for direct, indirect, and induced effects on the economy.

By the Numbers

 

With significant job concentration in Life Sciences, Technology, and Aerospace and Navigation technologies industries, manufacturing in San Diego is both sophisticated and advanced.

Why San Diego stands out

Three key factors set San Diego apart as a Manufacturing hub: talent, innovation, and proximity to key customers. See how local companies are taking advantage of all three below:

    1. Staying close to key customer base

      Stone Brewing is a unique story and part of a larger narrative of the region’s diverse Manufacturing landscape. A homegrown brewery, Stone Brewing was founded in San Diego County in 1996, playing a key role in establishing the region as a thriving craft beer hub. Its strategic location keeps it close to target customers and suppliers, while the vibrant brewing community attracts top talent. Now the largest craft brewery in California and the ninth-largest overall in the U.S., Stone continues to expand, reinforcing its presence in San Diego. Acquired by Japanese brewery Sapporo in 2022, Stone invested $20 million to expand its Escondido brewery. Now branded Sapporo-Stone Brewing, the brewer makes Sapporo’s beers in addition to its own, doubling output and expanding the Japanese brewery’s reach into the U.S. market. Its San Diego presence remains a strategic asset, benefiting from the region’s collaborative brewing community and loyal customer base.

    1. A hub for cutting-edge ideas

      San Diego consistently ranks in the top three Life Sciences markets in the U.S., often recognized as a hub for research and development (R&D). However, the region’s strength in manufacturing frequently goes overlooked.

      Founded in San Diego in 2017 by former Illumina leadership, Element Biosciences develops genetic analysis tools and human genome sequencing, reflecting the region’s cutting-edge genomics work. One of the key advantages to San Diego is the robust biotech ecosystem, specifically within Genomics, which fosters continuous innovation and cutting-edge ideas, creating an environment where a startup like Element can thrive. Element’s rapid growth in under seven years is partly due to the decision to continue manufacturing key components in San Diego, driven by proximity to critical R&D activities, access to top talent and reliable industry partners, and collaboration with local universities and industry giants. Like many Life Sciences companies in the region, Element stands out as both an R&D innovator and precision manufacturer, solidifying its role in San Diego’s innovation Manufacturing landscape.

    1. Driving San Diego’s next innovation cluster

      When people think of Manufacturing, they often picture large-scale assembly lines. In San Diego, smaller-scale Manufacturing with a greater emphasis on quality and precision is the region’s sweet spot.

      Aptera launched in 2019 out of co-CEO Steve Fambro’s garage. The solar electric vehicle company embodies the region’s burgeoning Cleantech hub, utilizing a micro-factory model. Aptera opts for smaller-scale operations and strategically selects markets close to its customer base. California’s environmental goals made the state an ideal fit for its innovative product. San Diego was also a natural choice for its founders, who had prior experience launching companies in the region.

      Beyond being a key market for customers, San Diego’s innovation ecosystem continues to provide access to top-tier talent for high-tech, cutting-edge roles. It also offers strategic supply chain advantages due to proximity to Los Angeles and, more importantly, to Tijuana, Mexico.

Supporting the ecosystem

Manufacturing in San Diego is a vital sector that supports more than 100,000 jobs, contributes significantly to local GDP, and fosters a thriving environment for innovation and growth. By focusing on nurturing talent, fueling innovation, and leveraging its strategic location, San Diego is well-positioned to sustain and grow its manufacturing expertise.

Local industry resources:

To read our full analytical manufacturing report click here.

Rep. Peters, WTCSD to lead Singapore 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, Congressman Scott Peters, San Diego Councilmember Raul Campillo, and World Trade Center San Diego (WTCSD), the international arm of San Diego Regional Economic Development Corporation (EDC), are leading the 2024 trade delegation to Singapore. During the September 30—October 4 trade mission, business and civic leaders will promote the region’s key industries and seek to establish and strengthen business relationships across biotechnology, medical devices, advanced manufacturing, and urban infrastructure.

A generational shift in U.S. industrial strategy aimed at reducing reliance on China, coupled with federal legislation like the Chips and Science and Infrastructure Investment and Jobs Acts, position Singapore as a natural partner in advanced industries. As national governments continue to incentivize the reshoring and nearshoring of activities, gateway regions like Singapore-Malaysia in Asia and San Diego-Tijuana in the Americas are perfectly positioned to take advantage of these global shifts.                                                    

“Singapore’s strategic position and expertise in innovation industries make it an ideal partner for our San Diego-Tijuana binational region,” said Congressman Scott Peters. “This trip with World Trade Center San Diego will help strengthen our global brand, drive investment, and bolster the resilience of our local businesses.”

Home to the world’s busiest transshipment port and border crossing, Singapore is a highly developed center for global trade and a hub for U.S. companies conducting business in Asia. Situated in one of the most strategically important locations on the planet, the city-state boasts a free and business-friendly economy with low corruption, low tax rates, a skilled workforce, and world-class infrastructure.

As the U.S. strengthens its alliances in Southeast Asia, San Diego finds in Singapore an economy with shared expertise in knowledge-intensive industries, including artificial intelligence, medical device manufacturing, and information communications technology. Singapore boasts satellite operations for some of San Diego’s premier innovators including Qualcomm, ResMed, and Illumina. Further, Singapore has poured $12.8 billion in FDI into the U.S. since 2019 in industries such as manufacturing, information communications technology, and energy. The U.S. has matched that amount, investing $12.5 billion during the same time period. Looking closer, Singapore is the #10 country investing venture capital into San Diego by deal count, just behind Denmark and India (2014—2020), primarily in the medical equipment and technology industries. Singapore also shares in San Diego’s binational identity, with Singapore-Johor seeing nearly 1.6x the number of border crossings per day compared to San Diego-Tijuana’s border (450,000 and 283,000, respectively).

“Guided by data and shifting geopolitics, each year WTCSD leads a trade mission to a strategic international metro. For 2024, Singapore was a standout choice for our delegation of public-private leaders,” said Nikia Clarke, executive director of World Trade Center San Diego and senior vice president at San Diego Regional EDC. “As gateway regions, Singapore-Malaysia in Asia and San Diego-Tijuana in the Americas will anchor the critical supply chains of the future. We’re here to deepen international ties and maximize our economic impact.”

Over the four-day trade mission across Singapore, San Diego will look to build lasting institutional relationships and attract foreign investment in industries critical to the future.

Agenda items include:

  • The celebration of a recent partnership between UC San Diego and National University Singapore, as well the exploration of new opportunities around soft-landing space with Singapore commercial real estate developer CapitaLand
  • Opportunities to showcase San Diego-Tijuana and major regional development projects for foreign investors, including innovation developments by San Diego State University and Alexandria Real Estate Equities, Inc.
  • Local, small- to mid-sized businesses Biolinq and Visaic will pitch to global investment firm Temasek
  • Meetings with Port, Airport, Border, and infrastructure partners to better connect our regions through nonstop air and liner service, as well as sharing energy transition and urban development innovations
  • Government convenings with Deputy Prime Minister of Singapore Gan Kim Yong and other dignitaries
  • Formal meetings and tours of major employers in both regions, including Illumina, ResMed, as well as the Mandai Wildlife Group—a peer of the San Diego Zoo Wildlife Alliance

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 Cubic, Mitsubishi Electric, Qualcomm, San Diego Zoo Wildlife Alliance, and smaller businesses including Visaic and Biolinq. Also in attendance are delegates from key agencies, academic institutions, and civic organizations such as Port of San Diego, San Diego International Airport, UC San Diego, San Diego State University, MiraCosta College, Tijuana EDC, San Diego Tourism Authority, Connect, and others.

“As San Diego’s Economic Development Chair, I have two key goals: creating high-paying jobs and lowering costs for families in our city,” said San Diego City Councilmember Raul Campillo. “International trade and partnerships with businesses in Singapore and elsewhere bring advanced technology, high-skill workers, and robust tourism and investment to our local region. This strengthens our economy and delivers benefits like more affordable products that our citizens will see in their day-to-day lives.”

The trade mission is organized by World Trade Center San Diego, the international team at EDC, with assistance and support provided by the U.S. Embassy in Singapore, and sponsorship by Qualcomm, Ambix Ventures, San Diego Tourism Authority, and the San Diego Zoo Wildlife Alliance.

Learn more about Singapore and San Diego’s connection here, and follow along during the trade mission: #SDinSG. 

WTCSD has previously led trade missions to South Korea, The Netherlands, Germany, the United Kingdom, Japan, Vancouver, and more.

For media queries or other questions, contact:

Bree Burris
Bree Burris

Sr. Director, Communications & Community Engagement

EDC, WTCSD host international delegations for Invest in San Diego event

By Emily Irion,

Kicking off this year’s BIO International Conference, San Diego Regional EDC and World Trade Center San Diego (WTCSD) hosted an Invest in San Diego breakfast event together with Boston Consulting Group (BCG) and Biocom. The regional ‘pitch’ event played host to more than 100 attendees representing international delegations including South Korea, Canada, Taiwan, France, and more.

With idyllic views of the harbor and downtown, City of San Diego Mayor Todd Gloria kicked off the program highlighting the Life Sciences industry as a crucial pillar of San Diego’s economy. He underscored the region’s commitment to fostering industry growth through initiatives such as the Life Sciences Industry Accelerator, designed to streamline permitting for Life Sciences projects within San Diego.

EDC SVP and Executive Director of WTCSD Nikia Clarke then presented on San Diego’s competitive advantages:

  • San Diego is a top three Life Sciences market with a robust research and development hub and a growing manufacturing sector. With more than 60,000 total Life Sciences jobs countywide, 33 percent are dedicated to manufacturing.
  • The region boasts more than 80 research and 25 post-secondary institutions. Conferring approximately 17,000 STEM degrees annually, San Diego is growing its degree-holding population at a faster rate than any other California metro.
  • San Diego’s proximity to Mexico provides dynamic cross-border economic opportunities for businesses to access additional skilled talent and Baja California’s manufacturing expertise in medical devices and more.

The event concluded with a panel moderated by Miguel Motto, Vice President, Strategic Operations and San Diego Office Head of Biocom, together with panelists Matt Abernethy of Neurocrine Biosciences, Sarah Boyce of Avidity Biosciences, Alison Budelsky of Eli Lilly, and Jeff Labbadia of Element Biosciences. With representation from Life Sciences companies of all sizes, the panelists shared why they continue to expand in San Diego. Although their individual stories are unique, they all made one thing clear: they invest in San Diego because of its diverse and highly skilled talent pool, collaborative spirit, and unrivaled quality of life.

Interested in investing in San Diego?

EDC and WTCSD work directly with companies—free of charge—to help them grow in San Diego. Contact our team today:

Emily Irion
Emily Irion

Sr. Manager, World Trade Center San Diego

Learn more here

Looking into the 2024 crystal ball

By Eduardo Velasquez,

Sticking the ‘soft’ landing

Happy new year from your local, recovering economist!

After another year filled with uncertainty and the seemingly ever long tail of pandemic-related disruptions, we enter 2024 with a whole host of questions—some new, some recurring.

The past year was dominated by the prognostications of a looming recession. Goldman Sachs famously gave it a 100 percent probability and even the Federal Reserve was bracing for an economic downturn as recently as the summer.

However, it is worth stating the obvious here that the United States did not go into a recession. Throughout 2023, measures of economic growth consistently beat expectations. In the fourth quarter of the year, the economy grew at an annualized rate of 3.3 percent fueled by consumer spending as well as business investment. We saw record corporate profitability, a strong labor market that added nearly three million jobs, and even inflation slow significantly and come close to the Fed’s comfort level of two percent.

Locally, we ended the year with 23,400 more jobs. Investment also came into the San Diego region from both public and private sources. Startups raised another $4 billion in venture capital funding and San Diego received $950 million in federal funding for cleantech development.

There are more jobs in San Diego than ever before, however there are fewer people available to do them. Over the last 12 months, the labor force declined and it is expected that our prime-working age population will shrink in the coming years. Part of this is due to accelerated retirements brought about by the pandemic; part is due to the ever-increasing cost of living. The median-priced home is now more than $1 million with a monthly mortgage payment of more than $5,300.

So, 2024…

Looking to the year ahead, we are approaching a unique moment to accelerate large scale transformation around the future of work and the built environment.

Employers are offering remote and flexible work arrangements at higher rates than during the height of the pandemic. The rapid adoption of generative AI tools is changing how work is done and re-defining what skill development means, favoring agility over ability. There are 32,000 employers nationwide competing for workers with AI skills. In San Diego, there have been more than 5,200 unique job postings seeking AI skills since the launch of ChatGPT just over a year ago.

The permanence of remote work offerings has led to a re-imagining of the office with a flight toward quality. Many employers remain unsure of when and who should return to the office (we can help). These decisions will have profound implications for the future use of office space across our region, of which there is more than 10 million square feet currently vacant, with several million more planned, under construction, or with leases coming due in the next year.

While affordability remains abysmally low, housing production has ramped up with permitting activity expected to match levels not seen since 2017. This is still not enough new housing to meet demand, but still very welcome development (pun intended!). Additionally, rent growth seems to have plateaued and returned to pre-pandemic rates giving renters a much-needed pause in increases.

And yet, nothing that our region will face in 2024 is inevitable. What lies ahead is both a familiar challenge and a new opportunity for inclusive growth. A challenge to meet the talent needs of our employers, and an opportunity to remove barriers to entry into the workforce. A challenge to promote quality job growth in small businesses, and an opportunity to shift spending toward local, diverse suppliers. A challenge to address affordability, and an opportunity to re-imagine our urban core to retain high-paying jobs and provide housing for working families.

It’s a tall order, but our region is hungry. Let’s get to work!

Eduardo Velasquez
Eduardo Velasquez

Sr. Director, Research & Economic Development

 

Read 2023’s edition: Looking into the crystal ball…

More FROM EDC’s research bureau

More on inclusive growth

A note on the new year

By Jennie Brooks,

Dear EDC partners and investors,

Reflecting on our past year at San Diego Regional EDC, I turn to the conversations and moments I’ve been privileged to share with many of you across the San Diego community.

Each month, on a Wednesday morning overlooking the greens at Torrey Pines (or via Zoom screen), more than 60 board members from across San Diego’s industries—life sciences to defense, breweries to sports—have created space to connect, collaborate, partner, and assess our progress toward the region’s Inclusive Growth goals: 20K post-secondary completions annually, 75K newly thriving households, and 50K new quality jobs in small businesses by 2030. We know this is a marathon, not a sprint, and we’re in it for the long haul.

Our Board represents businesses born and grown here, new market entrants, large businesses with global reach, small, family-owned firms, nonprofits, academia, and anchor institutions in between. All of us have one thing in common: a commitment to the future of San Diego.

If we have learned anything about economic development over the years, it’s that we can neither stay the status quo nor stick to our swim lanes. We must work together, in our different ways, to ensure a resilient and competitive San Diego for employers and residents alike. In 2024, here’s how you can lean into this work with us:

  • While every company grapples with its post-pandemic approach to employee retention and return to office, participate in EDC’s study to understand your workforce’s needs
  • Support talent pipeline development and host summer interns in computing, engineering, or business—paid for through grant funding and sourced from San Diego’s Verified Programs
  • Support small businesses through procurement by joining the Anchor Institution Collaborative
  • Endorse the Inclusive Growth goals and adopt strategies to create more quality jobs, skilled talent, and thriving households in San Diego
  • Stay tuned for World Trade Center San Diego’s trade mission to draw regional investment and elevate San Diego’s global identity
  • Join 150 local companies and institutions in investing in EDC’s programs, research, and goals

The steps we take on this journey will be underpinned by EDC’s Research Bureau, market strategy, talent initiatives—and reliant on your investment—to help grow San Diego’s economy.

Join us in this work in 2024.

In gratitude,

Ms. Jennie Brooks
Ms. Jennie Brooks

EDC Board Immediate Past Chair

Executive Vice President

 

Read EDC’s Monthly Report