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The Big Picture San Diego Blog


Big Picture San Diego Blog

September 4, 2018

Authored by Kirby Brady and Janice Brown, "Water Investments Fuel Our Growing Economy" was originally published on San Diego Business Journal.
 
While it may seem both obvious and subtle, San Diego County’s thriving $220 billion economy and quality of life is made possible by a safe and reliable water supply. Every day, water is delivered to 1.1 million households and 98,000 businesses throughout the region.
 
Water also drives the iconic industries that make San Diego County truly San Diego — craft brewing, tourism, manufacturing, life sciences and agriculture, among others.
 
But how is San Diego County fueled by water in a region that only receives 10 inches of rain each year? 
 
It’s possible because of the significant regional water reliability and infrastructure investments made by the San Diego County Water Authority and its 24 member agencies. Over the past two decades, the Water Authority has invested more than $2.4 billion into projects that drive our region’s economy and protect our access to clean water for generations to come. These direct investments have resulted in a total economic impact of $4.8 billion and support nearly 1,500 jobs annually.
 
Desalination Plant
These investments resulted in the construction of new water infrastructure projects, which ripple benefits throughout our economy. These include the Claude “Bud” Lewis Desalination Plant in Carlsbad, the nation’s largest desalination plant, and the San Vicente Dam Raise, the tallest dam raise of its type in the world.
 
The benefits of these investments are underscored in San Diego Regional Economic Development Corp.’s new study, “The Importance of Water Reliability to San Diego’s Economy,” which highlights striking positive economic impacts for our region.
 
Infrastructure Investments
Water supplies support $482 million in regional sales of goods and services every day. That’s the economic equivalent of nearly three Comic-Cons each day. Without access to a reliable water supply, local businesses would not be able to provide services or goods that help advance our regional economy.
 
Every $1 invested in water infrastructure results in a $1.80 increase in the region’s gross regional product. Investing in infrastructure is investing in the regional economy. That’s why some of our favorite products are able to call San Diego County home. This region is home to more than 130 brew houses and 3,150 manufacturing companies thanks to the safe and reliable water supply.
 
Water infrastructure investments impact local jobs. Capital improvement projects that result from investments support jobs in many industries including construction, architecture, and engineering — even restaurant and retail.
 
Growing the Innovation Economy
Water drives our renowned innovation economy. Groundbreaking discoveries are taking place right here in San Diego County, and we’re proud of the accomplishments San Diegans make every day. Aerospace, technology and life sciences are just some of the industries that depend on the infrastructure necessary to store, move, treat and deliver water. Not only are these industries changing the way the world works, but they produce products and support sales crucial to San Diego County’s economy.
 
Our region’s economic future depends on continued access to safe and reliable water. With more than 500,000 residents expected to move to the San Diego region by 2035, maintaining access to clean water is as important for the future as it is today. Though our region has limited water resources due to low rainfall, we can rest assured that the water infrastructure investments made by the San Diego County Water Authority and its member agencies will continue to support San Diego County’s thriving economy.
 
Read the full study here.
 
Janice Brown of the Brown Law Group is chair of San Diego Regional EDC. Kirby Brady is research director of San Diego Regional EDC.
August 27, 2018

Have you ever driven down the I-5 South near downtown and noticed the three large industrial buildings to your right? Do you know what happens there? That’s the U.S. Navy’s Space & Naval Warfare Systems Command (SPAWAR).

Last week, a small group of EDC board members got a behind-the-scenes tour of SPAWAR* and its research lab in Point Loma SSC-Pac to answer that very question. On the tour, attendees saw firsthand some of the technology being developed and acquired by SPAWAR – technology that ranges from AI-guided cyber tools, nanosatellites, cryogenic communications, AR and VR technologies for sailors, and autonomous air, land, and water vehicles. SPAWAR directly employs nearly half of all the cybersecurity jobs (3,400) in San Diego, and its presence in San Diego is a huge contributing factor for many cyber companies to remain located in the region. It is daily responsible for the creation of advanced technologies for our country.

Additionally, attendees were provided an opportunity to learn about the U.S. Navy’s plans to explore a massive redevelopment of the SPAWAR facility that could provide the command with modern infrastructure, while acting as a catalyst for broader redevelopment in the midway area. It is rare to have a command like SPAWAR outside of the Washington D.C. beltway area and even more uncommon still for a community to have an opportunity to help such an important institution design and build a new facility.

For more information, you may access the Request for Interest via Navy Electronic Commerce Online (NECO) or Federal Business Opportunities (FBO) websites.

*In June 2019, SPAWAR changed its name to Naval Information Warfare Systems Command (NAVWAR).

August 24, 2018

Every quarter San Diego Regional EDC analyzes key economic indicators that are important to understanding the regional economy and the region’s standing relative to the 25 most populous metropolitan areas in the U.S. This issue covers data from Q2 2018.  

Following seasonal declines in employment during Q1, San Diego, and the overwhelming majority of the most populous metros, experienced an increase in employment during Q2 2018. Welcoming recent graduates and ramping up for the summer season, the region added 16,500 jobs - a 1.1 percent increase in employment during the quarter. Compared to a year ago, nonfarm employment was up 22,500 jobs, or 1.5 percent.

San Diego’s unemployment rate remained below that state and national rates of 4.5 and 4.2 percent, respectively.

Key findings from the snapshot:

  • When compared to its regional neighbors, San Diego’s unemployment rate continued to fare better than both Riverside (4.7 percent) and Los Angeles (4.5 percent).
  • With the summer tourist season approaching, the leisure and hospitality sector recorded the largest quarterly gain, adding 6,300 jobs during Q2.
  • Year-over-year, the region’s median home price continued to climb, growing by 6.6 percent.
  • Compared to the same period a year ago, VC investment in the region has more than doubled. 

The Quarterly Economic Snapshot analyzes key economic indicators that are important to understanding the regional economy and the region’s standing relative to the 25 most populous metropolitan areas in the U.S. This releases includes data from April to June (Q2) 2018.

 

August 23, 2018

Last week, EDC welcomed a group of next-gen life sciences leaders to San Diego for an exclusive tour of the region’s life sciences industry. Over two days, 26 eager PhD candidates representing 15 schools across 11 states paid visits to seven local employers including ResMed, Takeda, BD, Janssen/JLABS, Thermo Fisher Scientific, Dexcom, and Rady Children’s Institute for Genomic Medicine. Upon completion of their PhD program, these students will enter high-demand occupations within the life sciences industry – namely, positions in bioinformatics, computational biology, genomics, and more. Our hope is that they chose to do so in our region.

EDC launched the San Diego Life Sciences Trek in 2017 as a strategy for attracting talent to support the growth of the region’s life sciences industry, mirroring the more typical MBA Trek model. Across the globe, leaders in genomics and connected health are gathering incomprehensible amounts of data with the power to unlock the human genome, make personalized care a reality, and enhance the way we live on a massive scale. Individuals skilled in bioinformatics, data science, and computational biology are instrumental in deciphering such data sets – a task with stunning implications across pharma, biotech, healthcare, genomics, and much more – and are thus highly sought after by companies and regions alike. The battle for talent is heating up.

Many trek participants attend this two-day program because they are curious about a career in industry, but with backgrounds in academia, have had limited opportunities to explore what one might look like. The Life Sciences Trek provides students a chance to get out from behind the lab bench to tour companies, talk with real professionals, and learn how their skills can be applied in life-changing companies in San Diego.

Through company tours, panel discussions, presentations, and a networking reception, students gained access to influential researchers and executives across leading life sciences employers. From drug discovery to connected devices, genetic sequencing to direct patient care, the breadth of opportunities for bioinformaticians became apparent within San Diego’s diverse life sciences ecosystem. In fact, after attending the trek, 90 percent of participants indicated that they plan to pursue a career in San Diego upon completion of their PhD program.

Below are their thoughts. See more at #SDlifesciencestrek.

“It was a fantastic experience for someone who's always been immersed in academia, but is interested in the industry.”

– PhD candidate in Bioinformatics, University of Michigan

“This was an incredible opportunity to network with the scientists that could be involved in hiring you in the future. It was an indispensable experience to see first hand the types of jobs that recent PhD graduates could be qualified for.”

– PhD candidate in Neuroscience, University of Southern California

“Seeing the positive testimonials from all the people at the companies regardless of their position about work-life culture will make me prioritize San Diego as my primary target for future job applications.”

 – PhD candidate in Animal Biology with a focus on Biotechnology, UC Davis

“The trek was really eye-opening and definitely changed my perspective about potentially pursuing a career there!”

– PhD candidate in Cell and Molecular Biology, University of Southern California

“The SD trek is a great opportunity to familiarize yourself with biotech opportunities in SD and to learn about a great town with a lot of potential for aspiring scientists.”

– PhD candidate in Microbiology and Immunology, Dartmouth College

 

The trek group represented 15 schools: Carnegie Melon, Cornell, Dartmouth, Duke, Georgia Tech, Stanford, Ohio State, UC Davis, UC San Diego, UC Santa Cruz, University of Southern California, University of Idaho, University of Illinois, University of Michigan, University of Texas. 


Trek highlights: Surprise guest Dr. Stephen Kingsmore, CEO of Rady Children’s Institute for Genomic Medicine and Guinness World Record holder for fastest genetic diagnosis through DNA sequencing.

  

You can't talk about San Diego life sciences without talking about startups. Trek participants tour JLABS followed by a panel discussion moderated by Ashley Van Zeeland, co-founder of Cypher Genomics and former CTO of Human Longevity.

 

 

August 20, 2018

Last week, Inc. magazine released its annual Inc. 5000 list of fastest-growing companies. More than 120 companies in the San Diego metro made the list, including EDC investor Innovative Commercial Environments. Other EDC partners on the list include Fuse Integration, Cloudbeds (which recently inked a partnership with Airbnb), Passion Planner, and more.

Notably, San Diego-based Scientist.com made the top 10, with 15,267.8 percent revenue growth. Scientist is a B2B marketplace that connects major pharmaceutical companies and the National Institutes of Health with research scientists.

The Inc. 5000 list ranks companies by revenue growth from 2015 through 2017 for companies that are U.S.-based, privately-held, for profit, and independent with 2017 revenues greater than $2 million. The 126 San Diego companies on the list totaled more than $2.4 billion in annual revenue in 2017.

This list shows San Diego's businesses are gaining steam. While we're home to one percent of the nation's privately-held businesses, San Diego companies make up 2.5 percent of this year's Inc. 5000 list.

Click here to see the full Inc. 5000 list. 

August 17, 2018

Each month the California Employment Development Department (EDD) releases industry data for the prior month. This edition of San Diego’s Economic Pulse covers July 2018 data, including unemployment, new business establishments, and job postings.

Highlights include:

  • Data from the month of July reflect seasonal employment losses. The unemployment rate fell slightly during the month to 3.5 percent after a sharp spike in June.
  • Nonfarm employment fell by 14,400, or 1.0 percent, in July. Compared to year ago, total nonfarm employment is up 21,200, or 1.5 percent.
  • San Diego’s unemployment rate remains well below both the state rate of 4.4 percent and the national rate of 4.1 percent, both of which also saw small declines in July.
  • Nearly every jurisdiction saw declines in its unemployment rate in July. Only Solana Beach experienced no change in its unemployment rate of 1.5 percent.

Read the full Economic Pulse here.


August 10, 2018

Well, that was fun.

Thank you to those who joined EDC last night for the SD: Life. Changing. Summer Bash. Since the beginning, this has been a community-driven campaign, and last night was no exception. 

This event would not have been possible without the vision of Dan Ryan and his team at Alexandria Real Estate Equities, Inc., as well as our sponsors DPR ConstructionBNBuilders, and many more. A huge thanks to Dawn Barry and Nate Wiger for telling us their San Diego stories, and to Brian Malarkey for dishing up some culinary magic. These are exactly the kind of companies and people that make this place Life. Changing., and these are exactly the types of stories that we need to continue to tell. 

But we cannot do this alone. We need your help. As part of SDlifechanging.org, we've created a Talent Recruitment Toolkit and a directory + map of the region's most innovative companies – You can request free access to those here. We’re asking you – as San Diegans that know and love this region – to share these resources on your company and personal channels.

Please be sure to follow along and engage with us at @SDlifechanging and stay tuned for additional updates.

Stay life-changing, San Diego.

- Team EDC

p.s. Event photos will soon be available for download here

If you are interested in engaging more in the campaign, please drop us a line at communcations@sandiegobusiness.org.

August 6, 2018

Originally published on sdfoundation.org.

The second most populous county in California, San Diego County is a center of entrepreneurship and innovation with one of the most highly educated workforces in the world.
 
However, changing skill requirements, a nationwide battle for talent, and a soaring cost of living are threatening our regional competitiveness.
 
According to the San Diego Regional Economic Development Corporation (EDC), San Diego’s Hispanic population is our fastest growing group and will become our region’s largest by 2030. However, Hispanics and other underserved populations are dramatically underrepresented in our region’s innovation occupations and possess lower rates of educational attainment.
 
For the region to remain competitive, proactive measures to promote economic inclusion must be taken.
 
THE CASE FOR ECONOMIC INCLUSION
The San Diego Foundation Science & Technology Program nonprofit partners are working to close demographic gaps in educational attainment and strengthen our regional resilience by building an inclusive economy.
 
Since 1999, the Science & Technology Program has granted more than $8 million to support scientists and engineers in San Diego, and most recently granted $632,934 to 10 programs aiming to  increase opportunities for those who work and learn in our region.
 
Grantees such as California State University San Marcos and Access Inc. support San Diego’s innovation economy by creating and expanding a pipeline of young adults underrepresented in science, technology, engineering and math (STEM) fields to college and career opportunities for inclusive growth.
 
Inclusive growth is crucial to sustain a successful, regional economy, especially for our innovation sector, which accounts for more than 25 percent of San Diego’s economic activity.
 
PREPARING OUR REGION’S WORKFORCE OF THE FUTURE
The San Diego Foundation Director of Community Impact Katie Rast recently discussed how we can grow an inclusive, regional economy with key stakeholders: President & CEO of San Diego Regional EDC Mark Cafferty, Vice President of Youth Programs at Access Inc. Roshawn Brady, and Associate Professor of Biological Sciences at Cal State San Marcos Dr. Julie Jameson.
 
Watch the recording below of the Facebook Live conversation to learn why preparing our region’s workforce of the future means ensuring our underserved communities are competitive and how visionary organizations are making an impact in the lives of young, underrepresented adults.

July 24, 2018

Earlier this month, the Port of San Diego secured a three-year ocean liner contract with European shipping conglomerate G2 Ocean. The deal ensures consistent break bulk service from Europe to San Diego, an important step for the Port as it continues to increase its cargo capacity via the redevelopment of its Tenth Avenue Marine Terminal. According to Greg Borossay, Principal Maritime Business Development at Port of San Diego, the G2 service will contribute $650 – 750k per year to Port revenue, for the next three years.

This deal is part of a larger Port effort to attract large ocean liners to San Diego in order to provide more options for local companies, most of which currently ship out of the Ports of LA and Long Beach.

To assist with these efforts, WTC San Diego executed a study at the beginning of 2018 comparing trucking rates throughout the Southwestern United States from the Ports of LA, Long Beach, and San Diego. Mr. Borossay says the study was used in discussions with G2 and other ocean liners to illustrate the overall cost savings of establishing San Diego as a port of call.

July 20, 2018

Each month the California Employment Development Department (EDD) releases industry data for the prior month. This edition of San Diego’s Economic Pulse covers June 2018 data, including unemployment, new business establishments, and job postings.

Highlights include:

  • The region’s unemployment rose to 3.7 percent in June after several months of record lows.
  • Every jurisdiction saw an increase in the unemployment rate during the month of June. Six cities had increases of a full percentage point. 
  • Labor force grew, adding 5,200 workers during the month, up 0.3 percent. However the labor force is down 2,500 compared to a year ago.
  • Monthly employment trends changes appear to be countering trends of the past year. PST services continue to have the fastest year-over-year growth, up 4.9 percent.

Read the full Economic Pulse here.