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EDC has partnered with Ballast Point to create a special Made in San Diego craft brew, exclusively available in San Diego County. Just like our campaign, this beer is made for San Diego, by San Diego.

Raise a glass with us, and visit MadeinSD.com to learn more about this #SDlifechanging partnership.

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The California Competes Tax Credit (CCTC) is an income tax credit program available to both small and large businesses with plans to expand in or relocate to the state of California. Negotiated by the Governor’s Office of Business and Economic Development (GO-Biz), the California Competes Tax Credit program has awarded more than $600 million in credits to California companies since the program’s inception in 2014. In the FY 2017-18 round alone, the state will grant more than $230 million.

Each year, the state grants a series of awards over three rounds: November, April, and June. In the April round of FY 2017-18 program, the state awarded 63 companies a total of $72 million in tax credits based on commitments to add more than 6,500 jobs and invest more than $490 million by 2021. San Diego received 16.27 percent of the total credits, just behind the LA metro that received 22 percent of credits.

Based on the recent announcement, 15 San Diego companies were awarded more than $11.7 million in tax credits. Compared to other metros across California, San Diego fared well across all measures. Of all metros, San Diego received the highest number of small business awards, with more than 40 percent of small business recipients hailing from San Diego. These small businesses were awarded more than $1.7 million in tax credits for commitments to create 71 jobs and invest $4.5 million.

San Diego large businesses – defined as more than $2 million in annual revenue – were awarded more than $10 million in credits. San Diego ranks second in the large business category, with 16 percent of total credits awarded to local large businesses. San Diego also earned the second place ranking in the amount of job creation among all metros, with almost 700 new jobs coming to the region over the next five years.

In this CCTC round, San Diego recipients will invest more than $67.5 million into the community and pay nearly $138 million in wages over the next five years. Since inception, more than 125 San Diego companies have been awarded more than $75 million in credits, committing to the creation of more than 8,500 jobs and $1.4 billion in investments.

Of the 15 company recipients, EDC consulted six winners throughout the application process. Among those that received EDC support, top awardees include Bank of the Internet ($5M credit), Planck Aerosystems ($600K credit), and Fuse Integration ($500K credit).

For more information regarding the California Competes Tax Credit program, please contact Jesse Gipe.

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With and through our investors, EDC maximizes San Diego’s economic competitiveness. Here's our Q1 in review:

• Released a defense study and data visualization tool to better understand defense spending
• Submitted FAA application for drone pilot program alongside City of San Diego
• Co-hosted Military Transition Conference for 75+ veterans at University of San Diego, with a panel of representatives from SONY, Intuit, TaylorMade Golf, Sentek Global, and Bank of America

• Forge Therapeutics set to double its workforce in Torrey Mesa on heels of UK trade mission
• Vancouver Mayor Gregor Robertson talked trade in San Diego and toured tech startup Measurabl
• Comparative report on trucking companies' shipping prices for the Port of San Diego

See EDC's full Q1 Report here.

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The Duane Roth Renaissance Award is named in memory of a beloved community leader who tirelessly championed San Diego's innovation ecosystem and reframed how we view our economic diversity. This award recognizes an organization whose work is creating outstanding inventions, innovations or breakthroughs that have changed and improved the world around us. 

We are deeply honored to announce Sempra Energy as the 2018 Honoree of the Duane Roth Renaissance Award, presented by:

Sempra Energy is a San Diego-based Fortune 500 energy services holding company with an enviable track record of growth over its 20-year history. Sempra Energy provides safe, reliable energy through its regulated utilities and energy infrastructure businesses to approximately 43 million consumers worldwide with 20,000 employees, including the company’s most recent acquisition of a majority stake in Oncor, the largest utility in Texas. Major initiatives include system modernization, decarbonization and electrification, as well as innovative strategies to minimize impacts on the environment and maximize the deployment of cleaner energy sources.

Please join us at SeaWorld on May 31 to celebrate Sempra and more. Register here.

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The impact of Qualcomm's philanthropy and technology has been widespread and has created a global benchmark for how companies innovate, operate, and engage with their community. 

You don’t have to look far to find someone that works for Qualcomm. They are our friends, family, mentors, and neighbors. And they provide a tremendous boost to our regional economy. 

What happens next is in the hands of shareholders, but ahead of the vote, many San Diegans are sharing how the company has impacted our region, our companies, and our economy.

Check them out below.

Mark Cafferty, president & CEO, San Diego Regional EDC

Peter Callstrom, president & CEO, San Diego Workforce Partnership 

Mary Walshok, Associate Vice Chancellor, UC San Diego Extension 

Dennis Arriola, EVP, Corporate Strategy and External Affairs, Sempra Energy 

Ken Davenport, president & CEO, Mission Edge

Nancy Jamison, president & CEO, San Diego Grantmakers

Jim Zortman, EDC board chair | vice admiral (ret.), US Navy

Rory Moore, CEO & CO-founder, EvoNexus

Do you have a #QualCOMMUNITY story? Tweet us at @SdregionalEDC and we might share it. We'll be adding to this post. 

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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. 

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• 1:00 - 2:15pm: Panel event for the launch of EDC's economic impact report on San Diego's genomics industry. Details here.*
• 5:00 - 7:00pm: San Diego Innovation Council Reception. Register here.

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Understanding our economy begins with strong data. Lucky for us, Feb/March means lots of it. 

A little about the research products released this week:

• Quarterly Economic Snapshot: February
  
  Every quarter, San Diego Regional EDC analyzes key economic indicators that are important to understanding the region's standing relative to the 25 most populous metropolitan areas in the U.S. The Economic Snapshot covers data from October to December 2016 (Q4), the most recent quarter available, in regard to employment, real estate and venture capital.
  
  Release time: Data from the previous quarter is available at the end of the second month of the current quarter (e.g. data from Q4 2016 is released late Feb. 2017; data from Q12017 will be released late May 2017)

• San Diego's Economic Pulse: March
  Monthly, the California Employment Development Department releases countywide employment and unemployment data. However, we know unemployment is only a small sliver of understanding our economy. EDC supplements this report by adding information on who's hiring, business establishments and job postings.
  
  Release time: The California Employment Development Department typically releases the previous months data on the third Friday of every month (e.g. Data from April 2017 will be release on May 19, 2017). However, the first few months of the year are on a revised schedule, as January is subjected to seasonal changes as some service sectors wind down from the holidays and other data is being adjusted from the previous year. Therefore, January's data was released on March 3, 2017. 

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Connections: a simple word that takes on different meanings, but for EDC, it describes both what we do and how we do it. In 2016, we were all about connecting... Connecting companies to global markets. Connecting business to opportunities. And connecting with the people who make our economic development work possible.

EDC's impact:

• 8,260 jobs impacted; 126 year-to-date projects
• $3.4M in tax credits earned by local companies
• 14 national media hits secured; 149M people reached
• 15 SMEs accrued $6M in additional export sales; 42 new regional jobs
• $1.6M DoD grant awarded to San Diego and local organizations
• 9K students impacted by career development programming
• Seven economic research reports released
• And 160 investors and partners who make it all possible...

See the stories behind the numbers in our interactive review at EDCin2016.com.

"As we head into the new year, we know that we have even more to accomplish in connecting San Diego's economy to the world. As always, EDC is honored to do it with and through all of you." - Mark Cafferty, president & CEO