Tag: monthly report

A note from Mark Cafferty

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

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

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

Read more from Mark.

By the Numbers

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

Featured Stories

• Funki Adventures secures relief funding amid COVID-19 lockdowns
• Study release: AI and San Diego’s Cyber Cluster
• Meet the companies: Advancing San Diego, Manufacturing interns
• GCC Recap: State of the global supply chain

Investor Recognition

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

See our August Monthly Report here.

A note from Mark Cafferty

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

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

Read more from Mark.

By the Numbers

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

Featured Stories

• Creative Electron secures tax credit and expands workforce; develops Six Sigma expertise
• New: San Diego Business Hub takes small businesses online, boosts resilience
• WTC: San Diego’s global brief: May 2021
• AAPI owned and operated businesses in San Diego

Investor Recognition

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

See our July Monthly Report here.

A note from Lauree Sahba

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

Read more from EDC’s COO.

By the Numbers

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

Featured Stories

• Biocept sets sights on expansion, fueled by COVID-19 testing
• Employee Ownership and why it might be a good fit for your business
• Announcement: Preferred Providers of Manufacturing talent

Investor Recognition

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

See our June Monthly Report here.

A Note from Dr. Clarke

A note from Dr. Clarke…

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

By the Numbers

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

Featured Stories

• Recon-RF expands San Diego R&D operations; sets sights on continued business growth
• Release: San Diego Global Traded and Investment Strategy serves to drive recovery, resilience
• San Diego’s Changing Business Landscape: The next normal is here

Investor Recognition

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

See our May Monthly Report here.

A Note from our CEO

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

By the Numbers

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

Featured Stories

• Cleantech San Diego seeks to quantify impact, inform City Climate Action Report
• Study release: North County’s manufacturing industry
• Black History Month: Elevating San Diego’s Black businesses and innovators

Investor Recognition

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

See our April Monthly Report here.