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The Big Picture San Diego Blog


Big Picture San Diego Blog

September 21, 2017

EDC officially launched San Diego: Life. Changing., a campaign to raise San Diego’s profile and attract and retain top STEAM (Science, Technology, Engineering, Art, Math) talent in the region. SDlifechanging.org includes information about living and working in the San Diego region, and will soon include a digital toolkit to assist companies in their recruitment efforts.                          

The campaign was launched at a specially-themed San Diego: Life. Changing Night at the Padres game on September 19, with more than 15,000 in attendance.

San Diego: Life. Changing. communicates San Diego’s evolving value proposition, driven by companies and people looking to change the world and upgrade their quality of life.                                                                                                               

“We’re not Boston, New York, San Francisco or Los Angeles. And we don’t want to be,” said Mark Cafferty, president & CEO, San Diego Regional EDC. “This campaign was developed by San Diego…and for San Diego to communicate the unique opportunities and experiences our region offers to companies and employees alike.”

Extensive research proves that talent fuels economic growth, drives corporate decision-making and fuels entrepreneurship. If San Diego wants to remain economically competitive, it must continue to attract a talent pool that appeals to global companies.

The launch of the campaign is the culmination of Phase I of a year-long effort to refine a cohesive identity to attract and retain STEAM talent in the region. Hailing from life sciences and tech industries, nearly 100 companies with a San Diego presence have joined the “San Diego Brand Alliance” including Illumina, Human Longevity, Inc., SONY, ViaSat, Intuit – as well as many startups – and have provided feedback on potential recruiting tools and other San Diego assets.

“San Diego holds such tremendous opportunities for candidates, yet when recruiting top talent from outside of the region we still encounter the false perception that career options here are somewhat limited,” said Melinda Del Toro, senior vice president of People & Culture, ViaSat and vice-chair, San Diego Brand Alliance. “The San Diego: Life. Changing. campaign reinforces the message we’ve been telling candidates for years: San Diego is a dynamic, rich environment with incredible opportunities to have both the career and life you want, that you just don't find in other regions.”

Over the next two years, San Diego: Life. Changing. will continue to build out SDlifechanging.org to include full company profiles, a video library and additional recruiting tools for companies. In 2018, EDC will look to partner with local organizations to deploy the campaign in specific markets across the country.

Learn more at SDlifechanging.org and follow along at #SDlifechanging. San Diego-based companies can request access to the recruiting toolkit online here.

 

Please see press kit and FAQs for additional information about the campaign. 

September 15, 2017

Each month the California Employment Development Department (EDD) releases industry data for the prior month. This edition of San Diego’s Economic Pulse covers August 2017 data, including unemployment, new business establishments and job postings.

Highlights include:

  • The region’s unemployment rate was 4.7 percent in August, unchanged from a revised 4.7 percent in July.
  • The unemployment rate was unchanged in every jurisdiction, with the exception of Carlsbad, which increased by 0.1 percentage points in August.
  • The region’s labor force grew again in August, adding 300 workers during the month.
  • Year-over-year, real estate, rental and leasing growth outpaced all other sectors, up 7.1 percent; an increase of 2,000 jobs.

Read San Diego's Economic Pulse here.

September 6, 2017

Amid global political gridlock and NAFTA renegotiations, talks on trade are booming more loudly than ever. At the forefront of such conversation is President Trump’s persistent push for U.S.-produced “Made in America” goods. While manufacturing remains a key component of the U.S. trade policy – accounting for 56 percent of total U.S. exports – Brookings’ newly released Export Monitor 2017 suggests a necessary shift in policy strategy. And counter to Trump’s strategy, regions like San Diego – where a growing share of exports are service-related – may reap the benefits.

Nationally, only eight of 35 major industries experienced export growth between 2014 and 2016, led by educational and medical services, management and legal services, commodities, travel and tourism, and the technology sector – noting a particular uptick in international attractiveness of U.S. universities and hospitals. That said, the report indicates that if current trends continue, services will surpass goods as the largest export category in 2020 within the 100 largest metro areas.

Taking a closer look at San Diego, a highly connected innovation economy, the report shows:

  • San Diego ranks as the 15th largest metropolitan region in the U.S. in terms of its GDP and the value of its real exports ($22.9 billion).
  • When comparing export intensity among the top 100 metropolitan regions, San Diego ranks 37th (9.9 percent) – this is up from 50th (10.03 percent) in 2014. 
  • A total of 134,350 jobs were supported by exports; 66,940 of which are direct jobs.

Manufacturing is an important part of San Diego’s economy and that will not change. However, With manufacturing exports on the decline and services exports on the rise, Brookings’ Export Monitor suggests challenges for President Trump’s “Made in America” agenda. The administration’s trade strategy cannot merely be a manufacturing strategy; it must also include promoting and expanding access for services exports. This means addressing barriers like physical presence requirements, local data storage mandates, temporary staff relocation restrictions, cross-border data flow constraints; it means continuing to confront discriminatory practices and offshoring, and technological advancement and workforce development that sustain regional competitiveness.

As an innovation economy, home to a world-renowned life sciences and defense ecosystem, services exports (think: IP) are among top priority in San Diego. And as the third most patent-intensive region in the world, connectivity to foreign markets – especially as it relates to sharing San Diego-made, life-changing technologies and discoveries with the rest of the world – and a balanced trade policy is make or break.

See more in Brookings’ full report, San Diego export scan and press release.

August 18, 2017

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 2017 data, including unemployment, new business establishments and job postings.
 
Highlights include:
  • The unemployment rate increased 0.4 percentage points to 4.7 percent in July.
  • Unemployment increased in 19 out of 19 jurisdictions. Imperial Beach saw the largest increase of 0.6 percentage points.
  • The region’s labor force grew again in July, adding 12,500 workers during the month.
  • Year-over-year, real estate, rental and leasing growth outpaced all other sectors, up 4.9 percent; an increase of 1,400 jobs.  
 
Read the Economic Pulse here.
August 16, 2017

Following seasonal declines in employment during Q1, San Diego experienced an increase in employment during Q2 2017. The region added 14,100 jobs - a 0.98 percent increase in employment during the quarter. Year-over-year, the region added 27,800 jobs, increasing employment by nearly 2.0 percent.

Meanwhile, San Diego’s unemployment rate rose by 0.1 percentage points during Q2, but is 0.6 percentage points lower than the same period a year ago.

Other key findings from EDC's Quarterly Economic Snapshot include:

  • San Diego closed Q2 2017 with an unemployment rate of 4.3 percent, the 15th lowest among top U.S. metros and below the national and state rates of 4.5 and 4.9 percent, respectively.
  • With the summer tourist season approaching, the leisure and hospitality sector recorded the largest quarterly gain, adding 9,300 jobs during Q2.
  • The median home price rose 7.3 percent from the previous quarter, and is now up 8.0 percent compared to a year ago.
  • VC dollars in the region increased 14.9 percent compared to the previous quarter.

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 release includes data from April to June (Q2) 2017.

Read it here.

August 11, 2017

Discover San Diego: Life. Changing. with this pocket guide full of interesting SD facts and a map illustration of the coolest companies in town!

This is the first official 'tool' - debuted last night - from EDC's San Diego: Life. Changing. Campaign. 

 

July 31, 2017

Today, San Diego Mayor Kevin Faulconer and World Trade Center San Diego (WTC San Diego), JPMorgan Chase & Co. and business and civic leaders unveiled the 15 companies selected to participate in the MetroConnect program, a comprehensive export assistance program to help local companies accelerate their global growth.

From language translation software platform Urban Translations, to cleantech company Envision Solar, to veteran-owned brewer Julian Hard Cider, the 2017 MetroConnect companies represent a diverse cross-section of San Diego’s innovation economy.

 

Now in its third year, the MetroConnect program equips small- and medium-sized companies (SMEs) with a suite of financial and programmatic resources to support their efforts in bringing their products and services global. Powered by JPMorgan Chase, MetroConnect resources include:

  • $10,000 in matching grants to cover up to 50 percent of the costs associated with international expansion
  • Dedicated WTC San Diego staff manager to support company participants in deploying overseas strategies during the grant period
  • Access to workshops that address export compliance, financing and fundraising and more
  • Reduced airfare on the Japan Airlines direct flight from San Diego to Tokyo, and on Air Canada direct flights from San Diego to Canada
  • Free access to SYSTRAN software for website translation and customer service needs
  • Consideration to compete for an additional $35,000 during the MetroConnect Grand Prize Pitchfest in May 2018

WTC San Diego is proud to congratulate the 2017 MetroConnect companies:

1. Coronado Brewing Co.
2. CP Global Manufacturing
3. CureMatch
4. Del Mar Oceanographic
5. Dermala
6. Envision Solar International
7. FoxFury
8. Guru
9. Julian Hard Cider
10. Optimized Fuel Technologies
11. Performa Learning
12. Planck Aerosystems
13. Tioga Research
14. Tunnel Vision
15. Urban Translations

Get the details on this year's cohort here.

Since the program’s debut in 2015, the 30 companies that have gone through the MetroConnect program have collectively generated $10.5 million in new export sales, signed more than 70 new contracts, added 50 new jobs to the region, set up nine new overseas facilities and seen three successful company exits. Past participants include Calbiotech (now ERBA Diagnostics), Rough Draft Brewing, Deering Banjo Company, Cypher Genomics (now Human Longevity Inc.), ROBO 3D and more.

In 2015 alone, San Diego exported more than $17 billion in goods overseas, as well as billions more in services like software, cybersecurity, engineering and research. SMEs produce 92 percent of those goods – driving home the point of programs like MetroConnect. According to the Brookings Institution, companies that are global pay higher wages, are less likely to go out of business and increase productivity of the domestic market.

As part of his commitment to expanding San Diego’s global reach, Mayor Faulconer has led trade missions to Mexico City and Vancouver this year, and will lead a delegation to London and Cambridge this fall.

 

July 21, 2017

­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 2017 data, including unemployment, new business establishments, job postings and who’s hiring in the region.

Highlights include:

  • The unemployment rate increased 0.7 percentage points to 4.3 percent in June.
  • Unemployment increased in 18 out of 19 jurisdictions. Only Del Mar was unchanged, with an unemployment rate of virtually zero.
  • Year-over-year, construction growth outpaced all other sectors, up 7.6 percent; an increase of 5,700 jobs.  

Read the Economic Pulse here.

July 14, 2017

In early 2017, the Brookings Institution’s Metropolitan Policy Program selected San Diego, along with Indianapolis and Nashville, to participate in a six-month intensive learning lab focused on inclusive economic development. During the lab, EDC worked alongside the City of San Diego, the Jacobs Center for Neighborhood Innovation, and UC San Diego extension, to develop a deeper understanding of specific barriers to economic inclusion impacting a variety of populations across the region. The outcome of the learning lab is a data-driven narrative that will inform EDC’s strategy as we work towards an economic development agenda that benefits more people, companies and communities.

San Diego is flourishing economically, with an innovation economy and a culture of collaboration that is driving growth and transformation. According to a Brookings analysis of 50 US metros, San Diego ranks 6th in upward mobility, meaning there is a greater likelihood that an individual born into San Diego’s lowest income quartile will end up in the highest income quartile. This fact, backed by the accomplishments of a range of programmatic models and initiatives by partner organizations – Accion, Connect, CDC, Junior Achievement, to name only a few – proves the success this region has demonstrated in terms of connecting communities to the drivers of our economy.

With an unemployment rate of 3.9 percent, the region is approaching full employment, meaning companies have incentives to offer pay raises and compete for talent. However, a 2016 study by San Diego-based Center for Policy Initiatives found there are one million individuals in San Diego that are living below self-sufficiency standards. This means that one third of our population cannot afford a no-frills cost of living without public or private assistance.

A nationwide battle for talent, a soaring cost of living at home, and a growing number of San Diegans unable to make ends meet are combining to form an unequivocal threat to our regional competitiveness. We cannot afford to ignore the large parts of our region that are disconnected from the engine of growth.

EDC, with a mandate to mobilize the business community around a broad economic development strategy, has committed to mainstreaming access and opportunity for all San Diegans into that overarching strategy. Over the duration of the 6 month learning lab, EDC interviewed over 25 companies, agencies, and organizations who are engaged in innovative and impactful best practices that guide families, individuals and companies on a path towards greater economic prosperity. We hosted Brookings research teams, and worked with public, private and nonprofit partners to convene dozens of roundtables and tours across the region. And we built a data-driven narrative that outlines the costs to our competitiveness of the growing number of San Diegans without access to opportunity, networks, and skills. .

For us the work is just beginning. As the learning lab comes to a close, we begin to look at the next phase: strategy. We will continue to lean on our growing network of partners and stakeholders over the coming months as we work with and through them to craft a plan that works to make our economy more inclusive, more competitive, and more resilient. Stay tuned.

July 11, 2017

Read the full profile here.