Tag: life sciences

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 an upcoming report on San Diego’s Manufacturing sector. To be the first to read the new report:

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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?

RSVP to the Manufacturing report launch event

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. Stay tuned for next week’s blog on our region’s cross-border advantages in the manufacturing industry, and for a full analytical manufacturing report at the end of the month.

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 an upcoming report on San Diego’s Manufacturing sector. To be the first to read the new report:

SIGN UP TO RECEIVE EDC EMAILS

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:

Stay tuned for next week’s blog on talent in the Manufacturing industry—and later this month for the unveil of a new industry report by EDC and Boston Consulting Group (BCG).

 

RSVP to the Manufacturing report event 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

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

Manager, Economic Development

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 Chair

Executive Vice President

 

Read EDC’s Monthly Report

Reflections on our Korea Trade Mission

By Nikia Clarke,

From San Diego to Korea: Collaborative partnerships to strengthen global competitiveness

It has been six years since World Trade Center San Diego—which EDC operates on behalf of the Port, the Airport, and the City of San Diego—ran its very first trade mission. Since then, we have taken annual targeted, cross-sector delegations to Canada, the UK, Japan, Germany, and the Netherlands. Led by Mayors and Members of Congress, flanked by Port, Airport, and University leadership, and accompanied by senior executives from our most innovative firms, these trade missions connect San Diego companies large and small to international markets, seek foreign investment that creates new jobs in our region, and tell the San Diego story: one of life-changing innovation and collaboration.

This year’s destination: Korea. And like every other year, San Diego showed up and impressed. Led by Mayor Todd Gloria—and joined this time by SANDAG and County Board of Supervisors Chairwoman Nora Vargas—this year’s trade delegation of more than 30 civic, academic, and corporate partners also included peer organizations like Biocom and the Tijuana and Imperial Valley EDCs, as well as companies like Qualcomm, Illumina, Dexcom, ASML, General Dynamics NASSCO, and more.

At a time when more than a trillion dollars of federal investments are aimed at modernizing American infrastructure, enabling a green energy transition, and building domestic capacity in strategic industries like semiconductors and biomanufacturing, Korea is a natural partner for the United States, as evidenced by the deepening collaboration between our two countries. Korea is second only to China in manufacturing intensity, and Korean firms produce almost 25 percent of all EV batteries and almost 60 percent of global memory chips used in phones and laptops.

Why Korea →

There is also perhaps no more complementary partner for an innovation incubator like San Diego than a country that scales innovation more efficiently than anywhere else.

The trade mission opened with a Sunday visit to the residence of the Governor of Gyeonggi-do, Korea’s largest and most dynamic province. Governor Kim and his cabinet hosted us for a roundtable discussion focused on revitalizing the MOU between the state of California and Gyeonggi. We delivered a letter from Governor Newsom and invited a return delegation to visit California in 2024 to continue the conversation on economic cooperation.

This set the stage for a whirlwind four days packed from morning to night with more than 15 briefings, meetings, and events:

  • With the help of Dentons and the U.S. Embassy, we convened representatives from more than 30 of the largest Korean companies for an Invest San Diego Luncheon. We provided an economic overview of investment opportunities throughout the binational mega-region, followed by quick pitches on manufacturing, energy, innovation, and real estate projects from Tijuana, Imperial Valley, and San Diego.
  • We visited the rapidly growing Korean offices of Illumina and Qualcomm, and announced a new partnership between San Diego’s Dexcom and Korean tech giant Kakao.
  • We toured and met with leadership of Samsung Biologics, which in just a few years has grown into the world’s largest contract manufacturer of biologics and is considering the location of a large investment in the United States.
  • We celebrated partnerships between UCSD and SDSU—both developing new state of the art innovation districts—and Seoul National and Yonsei Universities, two of South Korea’s finest.
  • We spent a day in the City of Incheon—a city of millions that has been master planned and developed on land reclaimed from the ocean over the last two decades and is now the innovation hub of the greater Seoul area. Incheon is also home to the international airport, completed in just eight years, as well as the Port, completed in four.

See the FULL agenda

Finally, we closed the trip with a VIP meeting with U.S. Ambassador to Korea Philip Goldberg to discuss the evolving political and economic environment in the region, followed by a reception at the Ambassador’s residence in the former legation district of Seoul. As is the tradition on these trade missions, this reception gave us an opportunity to reconnect with the hundreds of partners we met during the week, cement new friendships (and perhaps most importantly, make sure everyone knows which team to root for when the Padres play the Dodgers in the MLB opener in Seoul next March).

We returned home this week to a region in which the entire urban core is being reimagined—with massive mixed-use projects under construction from the border to the bay; to a country attempting to rebuild its infrastructure and establish new industries to take us into a cleaner, smarter future; and in a post-pandemic world where supply chains and geopolitical alliances are shifting rapidly.

One thing is clear: Our binational region has always been a remarkable place, but at this moment—with San Diego’s innovation ecosystem, Imperial Valley’s clean energy leadership, and Tijuana’s advanced manufacturing prowess—we can compete like never before. Add the right international partnerships like those we are building in Korea and elsewhere, and we have all the necessary pieces to anchor the supply chains of the future: collaboratively, efficiently, and sustainably.

Thank you to our sponsors Qualcomm, Dentons, and Townshend Venture Advisors, as well our partner the U.S. Embassy in South Korea for support on this trade mission.

Best,

Nikia Clarke
Nikia Clarke

Senior Vice President; Executive Director, World Trade Center San Diego

 

   

Learn about WTCSD’s trade missions

 

Mayor Todd Gloria to lead South Korea 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, San Diego Mayor Todd Gloria, SANDAG and San Diego County Board of Supervisors Chairwoman Nora Vargas, and World Trade Center San Diego (WTCSD), an affiliate of San Diego Regional Economic Development Corporation (EDC), are leading a trade delegation to South Korea. During the October 27—November 2 trade mission, business and civic leaders will promote the region’s key industries and seek to establish and strengthen business relationships across biotechnology, semiconductors, clean energy, and infrastructure.

Monumental federal legislation (IIJA, IRA, and CHIPS and Science Act), combined with a generational shift in U.S. industrial strategy aimed at reducing American reliance on China, have positioned South Korea as a natural partner in critical industries. As the federal government continues to incentivize the reshoring and nearshoring of activities aligned to national priorities, leaders from across San Diego, Imperial Valley, and Tijuana are maximizing growth through global connection.                         

“South Korea is a critical global market and a natural partner for San Diego as we share complementary strengths in the life sciences, clean energy, and biotechnology sectors,” said Mayor Todd Gloria. “I’m proud to again join the World Trade Center San Diego on a trade mission to strengthen business relationships and grow quality jobs here at home for San Diegans.”

Home to Asia’s third busiest cargo airport and seventh largest port, South Korea is an emerging hub for global trade and business. As the U.S. strengthens its alliances in East Asia, San Diego finds in South Korea an economy with shared expertise in knowledge-intensive industries, including personalized medicine, semiconductor research and manufacturing, and clean energy. South Korean-based companies directly employ more than 850 San Diegans, predominantly in the technology and manufacturing industries at companies like Samsung and Hyundai. Notably, the U.S. and South Korea hold the #1 and #2 spots, respectively, in global market share of the semiconductor industry. Further, South Korean investment into the U.S. is accelerating, with $18.2 billion in new investment since mid-2020 alone. South Korea is the #13 country investing venture capital into San Diego by deal count, closely behind Germany and Singapore (2014—2020), primarily in the pharmaceuticals and technology industries.

LEARN ABOUT THE TWO REGIONS

 “The binational mega-region has always been a remarkable place, but at this moment for the global economy, we can compete like never before,” said Nikia Clarke, executive director of World Trade Center San Diego and senior vice president at San Diego Regional EDC. “With San Diego’s innovation ecosystem, Imperial Valley’s clean energy leadership, and Tijuana’s advanced manufacturing prowess, we have all the necessary pieces to anchor the supply chains of the future: collaboratively, efficiently, and sustainably.”

“I am looking forward to showcasing the advancements in clean energy technology, life sciences, and port infrastructure to elevate the best of what our binational region has to offer and identify new partnerships with South Korea to foster innovation and economic growth for both our regions,” said SANDAG and San Diego County Board of Supervisors Chairwoman Nora Vargas. “This is an opportunity to increase trade and share new ideas that will help develop lasting solutions to improve our region’s infrastructure, transportation, and economy for the residents of San Diego County.”

Over the four-day trade mission in Seoul, Incheon, and Gyeonggi Province, San Diego will look to build lasting institutional relationships and attract foreign investment in industries that are critical to the future.

Agenda items include:

  • The celebration of a partnership between San Diego-based medtech company Dexcom and South Korean-based tech giant Kakao, which will enable Dexcom to bring its next-generation glucose monitoring capabilities to the South Korean market
  • Opportunities to showcase major regional development projects for foreign investors, including the Seaport Village redevelopment, Lithium Valley in Imperial County, as well as San Diego State University and UC San Diego’s campus expansions
  • Meetings with Port, Airport, and infrastructure partners to better connect our regions through nonstop air and liner service, as well as sharing energy transition innovations
  • Government convenings with the Governor of Gyeonggi and the Mayor of Siheung together with Mayor Todd Gloria and SANDAG and County Board of Supervisors Chairwoman Nora Vargas
  • Formal meetings and tours of major employers in both regions, including Qualcomm, Illumina, and Samsung Biologics

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 Illumina, Qualcomm, Viasat, ASML, Cubic, General Dynamics NASSCO, Gafcon, and small businesses including Tioga Research and Nano PharmaSolutions. Also in attendance are delegates from key agencies, universities, and civic organizations such as Port of San Diego, San Diego International Airport, UC San Diego, San Diego State University, San Diego Association of Governments (SANDAG), Imperial Valley EDC, Tijuana EDC, and others.

The trade mission is organized by World Trade Center San Diego, an affiliate of the San Diego Regional EDC, with assistance and support provided by the U.S. Embassy in South Korea, and sponsorship by Dentons, Townshend Venture Advisors, and Qualcomm.

Follow along with the trade mission: #SDinKR

REFLECTIONS ON OUR KOREA TRADE MISSION

WTCSD.ORG

Thank you to our trade mission sponsors:

A note from Mark…

By Mark Cafferty,

October update: Implementing actionable insights

EDC Investors and Partners,

I hope you are enjoying the early days of fall in San Diego.

Those of you who have worked closely with our team at EDC over the last decade know that our core values have long been integrity, accountability, collaboration, and inclusion. We strive to ensure that these principles guide all that we do and are woven into the work of every team—and one of our most important teams at EDC is Research.

Our research is something I have always been quite proud of. You will frequently hear our team and board members say that everything we do at EDC starts with research. I have even heard more than one of our current board officers cite research as our organizational “superpower.”

When we reestablished the EDC Research Bureau, it was mainly to ensure that the internal decisions we were making, the goals we were setting, and the information we were providing on the San Diego economy was accurate and up-to-date. Over the years, we realized that our data and information was at its most powerful when it was being shared with audiences and decision makers outside of the organization.

More and more partners and investors began asking us to use our research to help understand the economic impact of a business or project, a certain sector of the economy, a new market or customer base, and more. Our team has partnered and worked with the Brookings Institution, AECOM, UCSD, SDSU, SANDAG, CBRE, CA EDD, County Office of Education, BW Research, and other partners to ensure that our data remains relevant, free from bias, and helpful in creating more quality jobs, skilled talent, and thriving households across our region.

As the organization has grown and the work has evolved, so has the research. Over the last year, EDC’s Research Bureau has:

And as the challenges, opportunities, and work pertaining to talent, equity and diversity, cost of living, and technology continue to evolve, we will again make sure that our team is moving and changing as well. In the year ahead, our Research Bureau will focus on better understanding and supporting the changing needs of small business as well as the ‘future of work’ and its impact on commercial real estate.

If interested in sponsoring and investing in our research into 2024, we welcome those conversations and opportunities. Please reach out to Eduardo Velasquez—our Sr. Director of Research and Economic Development—if you would like to learn more. After all these years, I can still assure you that everything we do at EDC starts with research, just as I can assure you that an investment in our EDC research team is an investment in accountability, integrity, collaboration, and inclusion.

Thanks as always for your leadership, partnership, and support.

Mark Cafferty
Mark Cafferty

President & CEO

Read EDC’s Monthly Report

The economic impact of San Diego’s RNA cluster

By EDC Research Bureau,

EDC study explores the power and impact of RNA before and beyond COVID-19

Together with 1STRAND, EDC released “San Diego’s RNA cluster: Powering public health and the economy,” a comprehensive overview and economic impact assessment of San Diego’s RNA cluster, including direct input from industry representatives and stakeholders.

The power of gene expression manipulation has unlocked possibilities that were once unthought of—advanced treatments for cancer, HIV vaccines, personalized medicine, and more. These scientific achievements, discoveries, and events have catalyzed the growth of RNA innovation and therapeutics.

Home to dozens of RNA firms supporting more than 11,000 jobs, San Diego is especially well positioned to lead in RNA therapeutics innovation, promising a bright future for the region’s Life Sciences ecosystem and the broader economy.

KEY report FINDINGS

  • San Diego’s RNA cluster is a major contributor to the regional economy, with a nearly $6 billion annual impact. For every 100 jobs generated within the cluster, an additional 150 jobs are supported across the region.
  • San Diego’s RNA cluster has capabilities in both research and development (R&D) and manufacturing. While R&D leads RNA activities in the region, San Diego’s expertise in advanced manufacturing offers a solid foundation for further growth.
  • Leveraging its expertise in RNA technology, San Diego proved resilient and important in the fight against COVID-19. The region drew in $59 million from the National Institutes of Health (or NIH) and employment grew nine percent through 2021.
  • Software development jobs continue to grow within San Diego RNA firms. Demand for these professionals is expected to rise as Artificial Intelligence and Machine Learning (AI-ML) are further integrated.
  • Talent attraction is a major challenge for local RNA companies. Compensation is not keeping pace with San Diego’s high cost of living and puts the region seventh out of 10 in average wages among peer metros.

RNA and RNA therapeutics sit at the intersection of four sectors: R&D, manufacturing, trade, and healthcare. These include operations such as medical laboratories, production of biological materials and lab instruments, drug wholesalers, and consulting services to name a few—all of which are part of a broader ecosystem of industries fueling San Diego’s RNA cluster. This broader ecosystem feeds RNA clusters across the country, and San Diego consistently ranks among the top 10 metros in terms of total jobs, job concentration, and average wages. Peer metros includes Life Sciences heavyweights Boston and San Francisco, as well as parts of the North Carolina Research Triangle and tech hubs Seattle and San Jose.

Among peer metros, San Diego ranks:

  • #2 in job growth (nine percent) from 2021
  • #2 in projected job growth (13 percent) by 2027
  • #3 in number of job postings
  • #4 in median advertised salary for RNA jobs at just under $85,000
  • #7 in average hourly compensation ($56.68) for RNA jobs
  • Home to #5 most funded institution in the U.S. in RNA-related projects, and #2 in California – UCSD

The study was produced by EDC on behalf of 1STRAND in June 2023. Learn more about EDC’s research here.

SEE THE FULL REPORT HERE

Learn more on Life Sciences in San Diego