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Big Picture San Diego Blog

April 10, 2014

Brookings Panel in Seattle

 

San Diego is one of only six cities selected to participate in a new pilot program to attract foreign direct investment (FDI) to the region as part of the Global Cities Initiative, a joint project of the renowned Brookings Institution and JPMorgan Chase.

San Diego joined Columbus, Minneapolis, Portland, San Antonio and Seattle in Seattle today to participate in the first working session, where leadership will collaborate with other regions to address the region’s foreign direct investment plan. San Diego’s team is made up of representatives from the City of San Diego, UC San Diego, JPMorgan Chase, Biocom, Qualcomm, GO-Biz and San Diego Regional EDC.

Foreign direct investment has long supported regional economies, not only by infusing capital, but also by investing in workers, strengthening global connections and sharing best business practices. As the world’s largest economy with a stable investment environment, the United States has been a top destination for foreign direct investment and San Diego is looking to ensure it pulls in a significant portion of this FDI.

In San Diego, many small and medium-sized enterprises have pushed their attention towards the issue of capital. As venture capitalists around the U.S. become more selective about companies they invest in, we must look for alternative solutions. FDI is one answer. Although FDI sounds like an elusive term, this means more capital flow to the region as well as more international attention paid to San Diego which has a strong economic payoff.   

Sean Barr, vice president of economic development at EDC, sat on panel today moderated by Amy Liu, senior fellow at the Brookings Metropolitan Policy Program, which discussed establishing a region’s global identity. According to Brookings, “the most globally fluent metro areas demonstrate a combination of an appealing identity, high standards and reputation, and global relevance in specific markets.”

San Diego has many strengths, and one of our admitted struggles is that it’s difficult to form a distinct global identity when we have so many industries of which to be proud. We are home to a thriving biotech sector where companies like Illumina - dubbed the “World’s Smartest Company” - are based. We have a strong defense sector that is second to none. From our telecom industry to our sports innovation and algae biofuels cluster, the region is an innovation hub. One thing that Sean stressed during the panel is that although San Diego loves its sun, we need to be comfortable shedding our strict tourism message and moving beyond “sun and Shamu.” Working with the Brookings Institute to increase San Diego’s share of FDI is one way to do this.

As part of the pilot, San Diego will develop a foreign direct investment market assessment and plan, along with an implementation plan and a policy memo. This work, added to the region’s existing export plan, forms the second core component of a global engagement strategy that will strengthen the region's global economic connections and competitiveness.

San Diego is the only city in California selected for this pilot program and is one of only two cities in the program for which Brookings will be developing and publishing the complete FDI plan.

Here’s what some people are saying about the announcement:

  • City of San Diego Mayor Kevin Faulconer said: “San Diego’s strong ties to international markets, high-growth industries and culture of innovation mean we have the necessary ingredients to attract foreign direct investment to the region. I am honored Brookings selected San Diego for this pilot program and I look forward to working with the core team  to show that San Diego is open for business.”
     
  • Councilman Mark Kersey, fifth district, City of San Diego said: “San Diego is becoming start-up central and small-medium enterprises will benefit from a regional strategy for attracting foreign direct investment. I’d like to see more companies born global, attracting international investment and competing in worldwide markets.”
     
  • William Bold, senior vice president of government affairs of Qualcomm said:  “The highly educated work force, technology clusters, and location of San Diego already make it a thriving hub of the globalized economy. The Global Cities Initiative will only strengthen San Diego’s attractiveness to foreign investors looking for a solid innovation and high-technology track record. We’re delighted to help with an effort to share with the rest of the world the trade, talent and financial potential to be found here.”
     
  • Brennon Crist, JPMorgan Chase market manager for Middle Market/Commercial Banking in San Diego said: “We’re delighted that  San Diego will be a part of this new pilot – it’s exactly the kind of innovative planning that will ensure our community’s long-term economic success. We have a history of helping businesses connect to global markets and the Global Cities Initiative’s foreign direct investment work brings another level of depth to our region’s efforts to further create jobs, attract capital and grow our economy.”
     
  • Brad McDearman, Brookings fellow and director of metro trade and investment said: “For this pilot, we selected metro areas that are committed to attracting and leveraging foreign direct investment as part of a comprehensive global trade and investment strategy. The six metro areas selected for this round will be strong role models for other regions and represent a growing group of leaders who understand the need to embrace the global market to remain competitive in the 21st century economy.”
     
  •  Joe Panetta, president and CEO of Biocom said: “The region’s global mindset is apparent when you look at the thriving life sciences industry. Companies have long looked to San Diego for its world-class talent pool and abundant research opportunities. San Diego’s new collaboration with Brookings not only means that the region has opportunities to create more jobs, but also that we will be looked at as a role model for other areas looking to embrace the global economy.”

 

 

April 8, 2014
 
San Diego is not Silicon Valley...and that's a good thing. Yes, the weather here is nicer, but that's not the only reason people come here. They come for access to resources, lower cost of living compared to other startup hubs, and of course, talent. Like many other tech founders, Stephan Goss, CEO of Zeeto Media and Jeff Brice, CEO of TrustEgg believe this so much, that they decided to locate their companies here. 
 
There is always room for improvement, but as San Diego's startup community continues to grow, so does the momentum we see to better the region. Take a look at the piece they wrote below for The Daily Transcript.
 
 

Why we chose San Diego over Silicon Valley (appeared in The Daily Transcript on April 7) by StephanGoss and Jeff Brice
It is conventional wisdom that if you want to launch a startup, Silicon Valley is the place to be. The funding, talent and resources are available in spades there. So people have flocked there hoping to become the next Facebook or Google, and some have succeeded.
 
We made a different choice. For us, San Diego was a smarter choice to launch our two businesses, Zeeto Media, an online media company, and TrustEgg, a simple venue to start online trust accounts for kids. The weather was certainly a seductive draw. It’s hard to ignore the climate and laid-back lifestyle of this Southern California city, but that is not why we are here. 
 
Read more in the Daily Transcript....

#GoSanDiego

 

March 28, 2014

Patents, as legal records of novel and useful ideas, help drive regional innovation and economic growth. With strong biotech and information and communications technology (ICT) sectors, San Diego is a patent producing hub; according to the Brookings Institution, the region currently produces 2.3 patents per 1,000 jobs. Current legislation being proposed in Washington will make it more difficult for San Diego to innovate.

Mark Cafferty and Greg McKee of CONNECT penned a piece in the U-T discussing how the proposed legislation could harm our economy.


Patent legislation could hurt San Diego economy (appeared in the U-T on March 28)
 
It is easy for San Diegans to forget that what happens in Washington can affect our lives some 3,000 miles away. But the San Diego economy, so strongly reliant on innovation across a spectrum of industries, could be severely harmed by Congress’ latest attempt at patent reform.
 
Patents may seem to be a complex and obscure issue, but as legal documentation of intellectual property (IP) — just like the deed to a plot of land — they help drive regional innovation and job creation. According to the Brookings Institution, from 2007-2011, the San Diego region was granted an average of 3,165 patents a year, making us the eighth-highest patent producing region in the U.S.
 
Our innovative climate is the single largest factor that attracts and sustains our most important economic drivers — the businesses and individuals that operate successfully here. For example, San Diego-based Illumina recently developed the first low-cost genome machine, which could change health care significantly. UC San Diego — ranked the 20th best university in the world — is not only essential to training many that will go on to file patents at San Diego’s companies, but also has a growing portfolio of over 2,600 active innovations and more than 1,600 patents that translate into new startups and innovations. Please read the complete piece in the U-T....

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March 26, 2014

The California Competes Tax Credit, an economic incentive that is part of the Governor's Economic Development Initiative, is now accepting applications for its first round through Monday, April 14, 2014.

California Competes is an income tax credit available to businesses that want to come to California or stay and grow in California. Tax credit agreements will be negotiated by GO-Biz and approved by a newly created “California Competes Tax Credit Committee,” consisting of the State Treasurer, the Director of the Department of Finance, the Director of GO-Biz, one appointee from the Senate, and one appointee from the Assembly.

California Competes  will be allocating $30 million for fiscal year 2013/2014 and it will increase next fiscal year to $150 million, and then finally $200 million for 2015/2016 through 2017/2018. 

 

 

Frequently Asked Questions about the CCTC 

Related post: $30 million up for grabs

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March 20, 2014

Projected employment growth for Cyber industry

A report released today found that international criminal enterprises are increasingly focusing on California because of its wealth and innovation.

While this information can be off-putting at first, it’s good thing that San Diego is doing something about it. And it’s happening right now.

This morning, in an unprecedented show of collaboration, the San Diego business community came together to grow the region’s cyber footprint. Released today, “Cybersecurity in San Diego: an economic impact and industry assessment” found that the cyber industry impacts more than 13,000 jobs and has a total economic impact of $1.5 billion, which is more than the impact of hosting three Super Bowls every year. San Diego, with its culture of innovation and military footprint, is in a position to lead the industry nationally.

Cyber can be San Diego's next big jobs generator,” said Mark Cafferty, president and CEO of San Diego Regional EDC. "Like biotech was 30 years ago, cyber has the potential to be a driving force for growth in both our innovation and military economies."

City of San Diego Mayor Kevin Faulconer and Representatives Scott Peters (D- 52) and Susan Davis (D–53) joined us for the release. City of San Diego Councilmember Mark Kersey (D -5) and Council President Pro Tem Sherri Lightner (D -1) also were in attendance at both an industry event and press conference at The Lodge at Torrey Pines.

Mayor Faulconer addresses crowd at CCOE launch

“San Diego’s robust culture of innovation and strong ties to America’s military forces uniquely positions our City to lead the cybersecurity industry,” said City of San Diego Mayor Kevin Faulconer. “I look forward to working with the San Diego Regional Economic Development Corporation and all of San Diego’s entrepreneurs and tech leaders to make sure that San Diego is a global pioneer in cybersecurity.”

Cybersecurity firms are expected to experience rapid employment growth. While the entire San Diego County employment base is expected to grow 2.2 percent from 2013-2014, cybersecurity firms are expected to grow by 13 percent. Overall, cybersecurity-centric jobs, such as software developers and information security analysts, are expected to grow by 25 percent.

"If we care about creating jobs and growing our economy, than we need to support the cybersecurity industry," said Congressman Scott Peters (D). "I have supported specific cyber legislation in the past and remain committed to working together to advocate for an industry that not only protects San Diego's jobs, but also safeguards American companies."

CCOE Logo

In an effort to accelerate this job growth strategy, the Cyber Center of Excellence (CCOE) – a partnership dedicated to accelerating the cyber innovation economy – has formed.  Its powerfully diverse platform of leading cyber-related companies, military leaders and world-class academic partners are uniting in pursuit of a common economic-driven agenda to promote the region’s cyber strengths. Currently, the CCOE is comprised of an executive committee and is overseen by Holly Smithson of Sentek.

Nationally, cybersecurity has emerged as a priority as global retailers, medical providers, and critical infrastructure fall prey to significant data breaches and cyber theft. Cyber has evolved to become more than just an issue of the government, and now is a potential threat to all businesses and individuals.  In San Diego, more than 100 core cyber firms create a strong opportunity for the region to lead.

“We’re extremely excited about the launch of the CCOE and the opportunity for San Diego to capitalize on the national leadership of our cyber security sector,” said Andrew Lee CEO, ESET North America. “From supporting more cyber infrastructure growth, to attracting and developing IT talent, ESET is proud to contribute our resources and 25 years of experience in the cyber security space to this unique partnership of community and business leaders.”

On the heels of another round of sequestration, the cyber industry has even greater significance in both the national and local dialogue. Cybersecurity is one of two areas where the Department of Defense is adding resources. Locally, the cybersecurity industry is anchored by the U.S. Navy Space & Naval Warfare Systems Command (SPAWAR). SPAWAR alone impacts more than 6,100 jobs in San Diego and generates more than $705 million in total economic impact locally. U-T’s editorial board penned a great op-ed on the importance of SPAWAR to advancing San Diego’s cybersecurity cluster.

“SPAWAR's ability to accomplish our mission is strengthened by our public-private partnerships in this community.  These partnerships range from cooperative research initiatives with local industry or universities, to the more traditional contractual relationships for development, procurement and sustainment of advanced capabilities,” said Rear Admiral Patrick Brady, SPAWAR commander. “We rely heavily on the expertise of local businesses to build the tools our Fleet needs. In fiscal year 2013 alone, SPAWAR obligated more than $1 billion on contracts for worked performed in San Diego County.”

SPAWAR is central source of innovation for cybersecurity.  More than 90 percent of SPAWAR’s $7.3B budget is put on contract with private industry.

As a private-sector company, the military and government are important customers and are vital to our decision to be headquartered here, ” said Eric Basu, president and CEO of Sentek. “Sentek is proud to be in San Diego and we’re proud to be working with the CCOE to push the cyber cluster forward.”

As the study suggests, The Cyber Center of Excellence will be partnering with San Diego’s prestigious universities to attract and train entry- to mid-level cybersecurity workers.  As part of this commitment, EDC will continue its “iTrends @ UCSD” series, which will focus on cybersecurity. Open to individuals across all majors and schools, the program works to educate students about industries with growth opportunities throughout the San Diego region.

“UC San Diego has always worked hand-in-hand with the community to refine our curriculum and prepare our top-notch graduates for in-demand jobs,” said Pradeep K. Khosla, Chancellor of UC San Diego. “Our graduates go on to hold positions in some of the most competitive companies around the globe. As home to the San Diego Supercomputer Center, we will continue to produce the talent to ensure San Diego remains a cyber center of excellence.”

Tom Clancy, Chair of Software San Diego said: “San Diego is very compelling to cybersecurity companies due to its incredible technical talent pool, and the close collaboration between industry and academia. We have an abundance of individuals with security clearances, universities with cutting-edge research and workforce training programs, and direct access to customers in healthcare, defense, mobile, finance and energy.

Bank of America

The study was underwritten by Bank of America Merrill Lynch and Sentek Global.  National University System Institute for Policy Research – under the leadership of president Erik Bruvold – authored the study.

For a complete copy of the executive summary and full study, please visit http://www.sandiegobusiness.org/research/lvltw  and look under the report section.

Below, Chad Nelley of ESET on KPBS’ Midday Edition

 

Media coverage so far:

 

March 18, 2014

Linden Blue

Linden Blue, vice chairman of General Atomics and current chairman and CEO of Spectrum Aeronautical, was honored by the Tesla Foundation this past Saturday with the Nikola Tesla Award for Innovation.

Linden Blue is one of the masters of modern energy and aviation and San Diego is honored to have such an innovative leader in its region. The event program reads, “Linden Blue has always been very interested in technology. That interest has led him from innovating Learjet product improvements while working at Gates Learjet, to overseeing the development of the Lear Fan and the Beech Starship, and, more recently, to develop unmanned aerial vehicles and nuclear reactors.”

The Tesla Foundation’s mission is to create, promote, and protect American jobs and businesses through innovation and commercialization. 

Here’s to you Linden, for your incredible contributions to the aeronautics and energy sectors and for pioneering San Diego’s game-changing innovative culture.

The thing that’s always turned me on in aviation is the innovation part of it. If you could dramatically improve the technology, that interested me. That’s what I want to do.” – Linden Blue

March 13, 2014

It’s EDC’s job to be a booster of all-things San Diego. Through our work, we get the opportunity to meet budding entrepreneurs and small businesses owners.  They differ in the types of enterprises they run and in the people they hire, but they all say one thing: San Diego is a great place to launch a startup or small business.  We know that San Diego has many ingredients for entrepreneurs to be successful -- from a top tier talent pool to diverse neighborhoods which help attract the right people -- but we haven’t had a definitive ranking that said it all. Now we do: Today, Forbes ranked San Diego “The Best Place to Launch a Startup in 2014.”

San Diego is the best place to launch a startup in 2014. We’ll give that a moment to sink in.

One of the criteria used to rank location is based on social media use of small businesses in the selected city. As the article writes, “It turns out that Internet-savvy businesses are likely to grow faster than those that don’t…. Web presence indicates adaptability and likelihood to innovate—creating a network effect for communities dedicated to growth and positive change.” There’s no doubt that San Diego has its share of social media-savvy entrepreneurs and small business owners.  Recognizing this, EDC has recently brought together a group of these “Digital Ambassadors” to help carry positive messages about the region to the rest of the world. We’re constantly amazed about the powerful things we learn about San Diego through social media every day.  Just yesterday, we learned that Google Analytics got its start in San Diego as Urchin.

Here’s a little more about what Forbes had to say about the region:

"Small enterprises ranked in the top five on nearly every category to lift San Diego into the top slot. There is heavy concentration in projected high growth industries, as well as a high likelihood of accepting credit cards and adopting social media. San Diego is home to the fifth-best rated business community in the country. “

Although we have often been known to criticize the methodology of “rankings,” we need to celebrate where we can. And today, we celebrate!  San Diego Is, in fact, the best place to launch a startup in 2014.

Now, let’s continue to use our award-winning social media skills to get the word out.


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February 13, 2014

Congratulations to Kevin Faulconer on being elected the new mayor of the City of San Diego. Throughout the nation and the world, the role of an urban mayor has become an important and influential component in the resurgence and success of metropolitan economies.

EDC took a look at Faulconer’s jobs plan from the standpoint of EDC’s priorities:  

EDC Priority: Talent

Talented workers are the lifeblood of San Diego’s innovation economy. Attracting skilled workers and developing San Diegans for the careers of the future is important for our region’s business attraction, retention and expansion efforts. It is our opinion that a mayor can and should play a critical role in both the attraction and development of a talented workforce.

Kevin’s policies and statements regarding workers and talent focus on our universities, business incubators, engineering and entrepreneurship.

Kevin also sets a goal for youth employment, with a particular emphasis on science, technology, engineering and math programs (STEM): “…providing summer jobs for 2,500 students to prepare them for bright futures.” To accomplish this goal Kevin cites working with the Workforce Partnership (and its existing Connect 2 Careers program) and programs like Job Corps to; “…expand access to technology, engineering and job training programs.”

Kevin speaks of working with local universities and property owners and managers to help turn at least four sites in the city into new high-tech incubators. He has also described working with local university leaders to create business mentoring programs for students.

EDC Priority: International Opportunities

Maximizing San Diego’s global competitiveness is a central focus of EDC’s mission and important to driving San Diego’s tourism and innovation economies. Increasing the region’s exports through the Brookings Metropolitan Export Initiative, expanding our international profile, attracting more foreign direct investment, and further engaging our neighbors in Mexico are all specific strategies we will work on throughout 2014.

Kevin talks about the importance of our binational economy and the unique strengths and opportunities we have when partnering with Mexico.  Kevin cites specific goals for increasing trade with Mexico and the Pacific Rim: “…increase trade with Mexico and the Pacific Rim by 100 percent within 5 years.” Kevin also speaks about working with the Port and Airport Authorities, as well as EDC, to increase our region’s exports and create better access to international markets.

Kevin talks extensively about the role a mayor can play in securing the funding and support to complete our border crossing and expand our border infrastructure.

Kevin also calls out the importance of international tourism to the local economy. He talks of supporting the Tourism Authority’s efforts to promote San Diego throughout the world and for securing San Diego’s spot as a top tourism destination.

EDC Priority: Business Growth and Expansion

Kevin’s plan is quite specific.   He calls out particular programs he would work to grow and expand: “The City’s business expansion, attraction and retention (BEAR) program will grow to help attract businesses by working with companies to provide permit assistance and fee reductions.”

He goes on to state specific milestones and deliverables:

 •“Within his first year as mayor, Faulconer will overhaul the City’s website to make it user-friendly so San Diegans and businesses can interact with the City quickly and easily.”

• “Within his first year as mayor, Faulconer will direct the City toward a modern permit-tracking program that expedites the permitting process.”

• “During his first term as Mayor, Faulconer will partner with commercial property owners and managers as well as local university leaders to create mentorship programs and at least four additional high-tech incubators strategically positioned throughout San Diego that will attract talented entrepreneurs, engineers, venture capital and good paying jobs.”

EDC Priority: Capital

An adequate flow of capital to companies at all stages of development is important to San Diego’s regional economy. Without the proper funds to grow or expand, San Diego companies will not be able to achieve their maximum job growth potential. EDC is focused on ensuring that companies have access to local, national and international capital resources and that growth opportunities are visible to potential funders.

In the dedicated investment portion of his plan, Kevin shares some specific goals and deliverables in this area. His website reads:  “In his first year as mayor, Faulconer will work with local universities and the innovation sector to develop a strategy to increase by 50 percent the federal grants the San Diego region receives by 2020 to fund technological breakthroughs and create good paying jobs.”  He frequently mentions his plans that involve: “…partnering with commercial property owners and managers as well as local university leaders to create…additional high-tech incubators strategically positioned throughout San Diego that will attract talented entrepreneurs, engineers, venture capital and good paying jobs.”

Kevin received the endorsement of BIOCOM, the biotechnology/life sciences association that works with public and private sector partners to promote the growth and competitiveness of the region’s biotechnology economy. BIOCOM is one of the few local trade associations within the innovation economy that endorses candidates.  Capital development is certainly one of BIOCOM’s top priorities and concerns.

EDC Priority: Land Use

Strong and informed urban planning efforts and protecting San Diego’s industrial land are important to our efforts to maintain a diverse and attractive economy for future investment and expansion.

Kevin’s policies and language regarding land use focus heavily on the protection of land for industrial use and economic purposes. His website states: “Faulconer will propose land-use policies that protect the thousands of high quality manufacturing jobs that rely on the vitality of the maritime industry.” He goes on to make the following commitment: “Faulconer will have the City conduct a comprehensive analysis and complete an economic development strategy that identifies – citywide – which industrial land needs to be preserved for jobs, and which areas can be used for residential and retail needs.”

Kevin also speaks about protecting the interests of neighborhoods and the environment as well. He commits to the following: “Faulconer will streamline regulations by strategically funding community plan updates that include Master EIRs (environmental impact reports)…Faulconer will prioritize San Diego’s low-to-moderate income communities to stimulate investment and revitalization efforts.”

Kevin has been outspoken about the challenges that the Barrio Logan Community Plan presents to industry and he has worked actively with the maritime industries to reverse the City Council’s action in approving the plan.

EDC Priority: Infrastructure

When EDC speaks of infrastructure needs, we focus more specifically on the larger, regional infrastructure projects that can move and grow an economy. Our members and investors see the airport, the Port of San Diego, our international border crossings, and our highways and public transportation systems as either strengths or impediments to economic growth. Increasing our international flights at the airport, improving wait times at the border and protecting our maritime economy will remain essential for job creation and economic prosperity. 

Kevin has specific sections of his website dedicated to the city’s neighborhoods, roads and deferred maintenance plans. When it comes to our region’s large infrastructure projects, Kevin’s plan also focuses heavily on our border, our relationships with Mexico and upgrading and modernizing our ports of entry. Kevin’s website states: “As mayor, Faulconer will work with leaders in Tijuana and Washington to modernize the border crossing and decrease wait times, transforming the San Diego-Tijuana border from lost economic opportunity into a competitive advantage that is the envy of the world.”

Kevin talks in detail about the need to increase our exports, create a regional export plan and ensure that our port-related infrastructure is aligned with these plans.

EDC Priority: Defense

San Diego’s military and defense economy impacts approximately 302,000 jobs—or one out of every five jobs in the region. The defense industry in San Diego generates approximately $32 billion for the region. Protecting our military assets and positioning our region to retain or grow its defense presence remains among EDC’s top priorities.

Kevin’s entire plan reflects a very strong understanding of – and commitment to – the local military and defense economy. Kevin’s website states: “Faulconer will initiate a comprehensive study of industrial land to protect middle-class jobs and provide greater certainty for the U.S. Navy and job creators to invest in confidence. Faulconer will use this analysis to create land-use policies that protect thousands of high quality manufacturing jobs that rely on the vitality of the maritime industry.”

Kevin outlines potential job training partnerships and employment programs for our region’s veterans. This includes: “…a plan to hire at least 130 additional police officers … and believes combat veterans have many of the skills necessary to succeed as San Diego Police Officers. Faulconer will collaborate with local veteran support programs, such as Reboot, to assist veterans returning to civilian life in finding good employment opportunities.”

Ultimately, Kevin’s plan speaks often about the need to protect and grow military and defense jobs within the region and showcases an understanding of the important role the military plays in San Diego’s economic landscape.

EDC looks forward to the opportunity to partner with Kevin and support his plans as we all strive to maximize the economic prosperity and global competitiveness of San Diego.

 

 

February 10, 2014

Ten years from now, San Diego could be the home of the Summer Olympics.

As the world watched the opening ceremony for the SOCHI Olympic Games on Friday, San Diegans gathered aboard the Midway for a celebration of their own. Guests were treated to a preview of what the Olympics could mean for San Diego and our nation. This video highlights our region’s attributes and venues demonstrating our capacity to fully comply with USOC and IOC guidelines as a host city. 

"We're already such an amazing destination city.  We've hosted multiple bowl games. We've hosted a Super Bowl. We invented sports like the Triathlon and the Iron Man, and all these other things we actually already have venues that the public has already built," said Vincent Mudd. In addition to serving as EDC's incoming chair, Mudd also heads up the San Diego Exploratory Committee. Learn more...
 

 

January 31, 2014

global sd cover

Throughout the nation, and the world, the role of metropolitans is becoming more pronounced. Due in part to political gridlock in D.C., metropolitans have become living incubators for ideas and innovation. Although the rise of the metropolitan region can be seen by anyone who picks up the paper or flips on the T.V., it’s the Brookings Institute that has given this movement new momentum.

San Diego is one region to embrace this "metropolitan first" ethos. This week, EDC – along with numerous regional partners – released the “Global San Diego Export Plan” which focuses on growing our metropolitan economy and creating jobs through exports. The release of the export plan is part of San Diego’s continued participation in the Global Cities Initiative, a joint project of the Brookings Institute and JPMorgan Chase & Co.

In 2012, San Diego was selected by Washington-based Brookings Institute as one of the first eight U.S. cities to participate in a national initiative to pioneer new strategies that boost exports and global economic competitiveness. The Global Cities Exchange has now grown to include 20 U.S. metropolitan areas.

A focus on exports means a focus on all sectors of San Diego’s economy, from the established defense and communications sectors to emerging industries such as craft beer. Companies that export not only grow faster, but are 8.5 percent less likely to go out of business. Additionally, if you work at a company that exports, on average, you will earn a 10-20 percent higher wage than you would if you worked at a company that didn’t export.

San Diego’s Core Team Partners are streamlining four strategies to implement the export plan:

·         Leveraging the diversity of regional markets

·         Developing and increasing small- and-medium-sized enterprises’ capacity to export

·         Concentrating on San Diego’s unique infrastructure assets

·         Leveraging the trade potential of the CaliBaja Bi-National Mega Region

A newly-formed Global Competitiveness Council, comprised of key leadership from the Core Team Partners including elected officials and university leadership, will move forward on implementation of the strategies and provide insight into the region’s trade and investment plans.

In San Diego, we’re not just exporting San Diego products; we’re exporting San Diego culture as well. Core Team Partners have included a Global Outreach component to encourage San Diegans to adopt a more global mindset and use this initiative as a platform for communicating San Diego’s global fluency.

In the coming weeks, the Core Team will continue to push out information regarding San Diego’s plan to increase exports.

In the meantime, here’s what Brookings and some members of the Global Competitiveness Council are saying about this plan:

Brad McDearman, fellow and director of Metro Trade and Investment at Brookings said: “San Diego was selected to be part of the Global Cities Exchange due to its unique cross-border dynamic, Pacific Rim location, demonstrated regional collaboration, and commitment to being more intentional about positioning the region globally. San Diego is a region with tremendous potential in international markets.”

Councilmember Mark Kersey, City of San Diego, 5th District said: “Expanding trade opportunities for San Diego companies is critical to our binational economy. Although we currently have companies utilizing our regional opportunities for trade and commerce, there is a lot more potential. This initiative will provide businesses with concrete information to help them tap into the unique opportunities being a border region provides," said

Thella Bowens, president and CEO of San Diego County Regional Airport Authority said: “The Airport Authority is pleased to see the concrete steps laid out in this plan to improve our region’s export potential, based on the market assessment completed last spring. In terms of air passengers, air cargo and aviation infrastructure, San Diego International Airport plays a crucial role in our region’s export performance. We are committed to working with our partner agencies and the City of San Diego to enhance the export potential of the region”

Mark Cafferty, president and CEO or San Diego Regional EDC said: “We know companies that export not only pay their workforce higher wages, but also create more jobs. This plan is a solid foundation to not only boost employment, but to also start shaping the region’s distinct global identity. The good news is that we have room to grow.”

Brennon Crist, JPMorgan Chase market manager for Middle Market/Commercial Banking said: "Exports of goods and services represent a tremendous opportunity for San Diego businesses to grow and create jobs. The strategies outlined in this Export Plan will be instrumental to helping our region’s employers realize their export potential. The plan serves as a great example of the public-private sector collaboration that’s so critical to ensuring our region’s long-term economic success in a highly competitive global economy.”

Bob Nelson, chairman, Port of San Diego said: “Leaders throughout San Diego share a desire to improve our region’s competitiveness in global markets, which is driven in large part by our goods movement capacity at the Port of San Diego. With two marine cargo terminals, the Port of San Diego is a major player in our region’s export activity. The release of our Brookings Institution Metropolitan Export Plan signals that our San Diego region as a whole is serious about offering businesses a simpler, easier path to exporting – and that we’re willing to work together to get there.”

More statements can be found here.

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