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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. 

 

April 26, 2017

 
The world is changing – for better and for worse. In San Diego, we know we can change it for the better and enjoy life in the process.
 
It's time we took our story into our hands. We're not Silicon Valley. We're not Los Angeles. And we're not Denver, Austin or New York. We're San Diego...and there's never been a better time to own our story.
 
Introducing San Diego: Life. Changing.: a campaign about real people who have chosen San Diego and have changed the world and upgraded their lives along the way. This is #SDLifeChanging. See the details at SanDiegoLifeChanging.org.
 

San Diego: Life. Changing. from San Diego on Vimeo.

September 30, 2016

Understanding any economy starts with strong data. At EDC, we pour significant resources into research, so we can better understand San Diego's economic strengths, and even more importantly, our weaknesses.

Finding the right data to quantify our economy and understand where San Diego’s stack up with other regions is where it becomes more difficult. Many regions – including San Diego – call themselves innovative, but measuring it becomes more complicated.

In 2012, EDC joined the Global Cities Initiative (GCI), a joint project between Brookings and JPMorgan Chase, which helps metropolitan leaders grow their regional economies by strengthening international connections and competitiveness. Conducting independent research has been a cornerstone of the GCI since its launch.

This week, EDC/World Trade Center San Diego staff traveled to Washington, D.C. to take part in the Brookings Global Cities Summit – a culmination of five years of research and exchanges to help metros grow their economy.

Based on five years of research, Redefining Global Cities," the latest Brookings report, found that there were seven types of global cities. 

There are the Global Giants – regions like London, New York and Paris; these cities are financial hubs and serve as the control center for the world’s largest economies. Then there are the American Middleweights (Cincinnati, Indianapolis, Phoenix, Saint Louis, etc.) and the International Middleweights (Frankfurt, Munich, Rome, Barcelona, Toronto, etc.): connected and important mid-sized cities where post-recession growth has lagged. And then there are the Knowledge Capitals – 19 mid-sized cities throughout the U.S. and Europe that are home to talented workforces and elite research universities.

San Diego is in good company as a Knowledge Capital with Boston, Chicago, San Francisco, Stockholm, Zurich and others.

Turns out, when it comes to patent intensity, San Diego is second out of 123 global cities. When we say that San Diego is innovative, it’s not just boosterism – we have the data to back it up.

As a Knowledge Capital, San Diego may attract a highly-educated workforce and high-levels of entrepreneurship, but one area where it lags is foreign direct investment. Nearly 98 percent of our economic growth is going to come from growing small and medium-sized enterprises and startups already present in the region. San Diego’s participation in the Global Cities Initiative is not just an opportunity to connect with likeminded cities; it’s an opportunity to connect with and better understand our customers. After all, our SMEs will not reach peak growth rates without expanding their businesses and finding customers outside the region. As a response to this insight, we founded the MetroConnect Initiative, a comprehensive export assistance program now in its second year.  

As a region, we’re proud to be known as a Knowledge Capital, but our work is still cut out for us. By connecting with other GCI cities, we can expedite our economic growth through careful understanding and analysis of best practices. And through insightful data and programs like MetroConnect, we’re hopeful that we’re well on our way.

June 14, 2016
This week, the Worth Group announced that San Diego has been named as a 2016 “Worth Destination.” Featured in the June/July issue of Worth magazine, San Diego is among 15 cities lauded for civic leadership, quality of life, business climate, sustainability, entrepreneurial community, cultural offerings and urban innovation.
 
After months of deliberation and research by Worth's editorial team, San Diego was chosen for its burgeoning technology and life sciences ecosystems, powerful cross-border manufacturing economy, unparalleled infrastructure and world-class cultural institutions.
 
“San Diego has long been famous for its incredible natural beauty and beautiful weather,” says Richard Bradley, Worth’s editor in chief and chief content officer. “But thanks to its close and mutually beneficial relationship with Mexico, its status as a global hub with a particular emphasis on Asia, and its world-class scientific community, San Diego is also an economic powerhouse.” “Recognition like this from a magazine as prestigious as Worth shows that San Diego’s reputation is shifting,” says Joe Terzi, President and CEO of the San Diego Tourism Authority. “The city is becoming known for more than beautiful scenery. Showcasing San Diego’s innovation, creativity and strong business sector is vital not only for attracting new companies and talent to the marketplace, but it is also key for attracting top conferences and business travelers, which are a critical part of the local tourism economy.”
 
“From advancing the human genome to developing cutting-edge military technologies, San Diego is a leader in global innovation,” said Mark Cafferty, president and CEO at San Diego Regional EDC. “Worth provides San diego with a powerful platform to tell our story to important audiences around the world.” Focused on entrepreneurship, wealth management, philanthropy, travel and lifestyle, the Worth media brand includes print, digital, broadcast and radio channels as well as the bimonthly magazine Worth. The full list of Worth Destination cities will be announced on June 21. The June/July issue of the magazine featuring San Diego will be available on newsstands beginning June 28, 2016.
March 4, 2016

Phil Blair

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“The local economy picked up steam in January after slowing a bit toward the end of 2015 – a typical trend as seasonal, holiday jobs phase out. Key sectors like manufacturing, construction, engineering, and health care all posted outstanding figures this month. These trends are also reflected in the demand for staffing services, which posted seven percent growth in employment in January.”
Phil Blair, Executive Officer
Manpower San Diego


This post is part of an ongoing monthly series dedicated to the California Employment Development Department (EDD) monthly employment release and is brought to you by Manpower

 

The California Employment Development Department (EDD) released statewide county employment data today for the January 2016 period, as well as revisions for 2015. This month’s data shows that San Diego's labor market fundamentals remained strong, as unemployment continued to fall amid solid and steady job growth.

The unemployment rate fell to 4.7 percent in January, the lowest since September 2007. The rate is down 0.1 points from the revised December number and 1.2 points from the previous year. The San Diego rate remained much lower than the statewide unemployment rate of 5.8 percent. The national unemployment rate rose substantially to 5.3 percent, well above the San Diego rate. The rate dropped in part due to a typical seasonal decline in the labor force from December to January, but the annual labor force increased by 6,100, with 16,900 fewer unemployed persons since January 2015.

Employment dropped back below 1.4 million in January, but seasonal declines are typical after the holiday season. More importantly, year-over-year employment went up by 38,200, a 2.8 percent increase. San Diego’s growth rate was again much higher than the 1.9 percent national rate. While the year-over-year growth slowed as 2015 progressed, the growth rate climbed again in January, which is a positive sign of momentum in the region.

The private sector drove employment growth in January, as private employment accounted for 90.3 percent of all employment growth over the year. The total private sector grew by 3.1 percent year-over-year, out-pacing the private U.S. growth rate of 2.2 percent.

Private growth was driven largely by service providers, but goods producers experienced another strong month. Manufacturers and construction companies drove 24.0 percent of private job growth in January. The two industries added a combined 8,300 jobs in January. The manufacturing industry in particular had a very strong month, posting 3.4 percent growth, compared to the national growth rate of 0.4 percent in the industry. Revisions showed that 2015 was an even stronger year than previously understood, with an annual 2015 growth average of 3.7 percent.


Professional, scientific, and technical (PST) services, which is strongly associated with the region’s innovation economy, slowed substantially in January, but it is unclear if there are complications with the EDD revision. Prior to the revision, the industry showed6.6 percent growth in 2015. With revisions, that growth is only 1.9 percent. It is unclear if job growth previously categorized as PST was moved to another sector like manufacturing or management, as national revised figures don't show the same dramatic shift. Architecture and engineering, a subset of PST services, showed solid growth of 5.1 percent despite the overall PST figure.

Other key drivers for growth included the region’s healthcare sector, which added 7,100 jobs and accounted for roughly one fifth of the region’s private job growth in January. Tourism experienced strong year-over-year growth, adding 5,900 jobs and contributing to 17.1 percent of growth.

In all, the January report released today showed many continued positive signs for San Diego's economy. The dramatic adjustment to PST employment raises some questions, and we will have to wait and see what was behind this revision by EDD. Otherwise, the region posted another month of solid yearly job growth, in large part due to the booming manufacturing and construction industries. Unemployment fell despite statewide and nationwide increases, and growth was spread out across a variety of key high-wage and base sectors in the region.

This report was performed with assistance from the CBRE research team in San Diego.

 

February 1, 2016
 
 
As a major win for the region’s innovation economy, today, Mayor Kevin L. Faulconer and San Diego Regional EDC announced that BD (Becton, Dickinson and Company), the world’s largest medication management company, will be maintaining its presence in San Diego, keeping more than 3,000 jobs in the region.
 
Mayor Kevin L. Faulconer said, “San Diego is now home to the single largest medication management company in the world.   I’m proud BD has committed to building upon CareFusion’s legacy in San Diego, which means that more than 3,000 locals can continue to rely on this company to help them take care of their families, put food on the table and a roof over their heads.”  
 
Bill Kozy, Executive Vice President and Chief Operating Officer of BD said, “San Diego is home to more BD associates than any other city in the world. The region not only offers a great place for associates to live, but it is also home to world-class health care facilities, great universities and many innovative companies that create a highly educated talent pool and opportunities for unique collaborations.”
 
Mark Cafferty, President & CEO, San Diego Regional EDC said, “BD and its 3,000 employees are staying and growing in San Diego. As a company, BD is an example of what happens when leaders collaborate and a global company continues to invest in our regional economy.”

Congressman Scott Peters said, “BD’s decision to invest their future in San Diego demonstrates the strength of our world-class innovation economy and organizations like the San Diego EDC that support it. This move also means thousands of high-quality jobs for {C}San Diego’s increasingly talented workforce. We must continue to drive economic growth and create the jobs of the future in San Diego by permanently eliminating barriers to success for our innovators and entrepreneurs like the harmful medical device tax.”
 
Panorea Avdis, Director of Governor's Office of Business and Economic Development (GO-Biz) said, “GO-Biz applauds our local partners, Mayor Faulconer’s office and San Diego Regional EDC for their work to keep BD in San Diego and we look forward to continuing to work with the company as they expand in California."
 
In 2015, BD merged with San Diego-based CareFusion, creating a $12 billion company—one of the largest medical technology companies in the world. BD has embraced San Diego and will be growing its footprint locally. As a globally-oriented company, BD has a presence in more than 80 countries, yet it currently has more employees in San Diego than any other city in the world.
 
Tapping into San Diego’s strong medical device and engineering talent, BD will be creating a new global center for health informatics on its Torrey View campus. In addition, the company will also be maintain its manufacturing capabilities in the San Diego region.
 
Since BD announced its acquisition of CareFusion in early 2015, the City of San Diego and San Diego Regional EDC have been working with BD to ensure the newly-integrated company continues to build off the strong legacy San Diego CareFusion has created.  
 

January 22, 2016

Phil Blair

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“San Diego’s labor market experienced a very positive year in 2015, despite a slower than usual December. The region added tens of thousands of jobs since the previous year, primarily in high-wage and productive industries. This drove thousands of people back to the labor force and resulted in 20,000 fewer unemployed.”
Phil Blair, Executive Officer
Manpower San Diego


This post is part of an ongoing monthly series dedicated to the California Employment Development Department (EDD) monthly employment release and is brought to you by Manpower. Click images to enlarge in a new tab/window.

Highlights

The California Employment Development Department (EDD) released statewide county employment data today for the December 2015 period. This month’s data allows for a complete picture for year 2015, and shows that San Diego’s economy grew at an accelerated pace in 2015 compared to recent years.

The unemployment rate closed the year at 4.7 percent in December, the lowest since June 2007. The rate is down 0.1 points from the previous month and 0.8 points from the previous year. The San Diego rate remained much lower than the statewide unemployment rate of 5.8 percent. When averaged over the entire year, the unemployment rate closed at 5.0 percent for 2015, down substantially from the 2014 average of 6.4 percent. The 2015 annual average is the lowest since the recession. Meanwhile, the annual average labor force was up 17,700 from 2014, while unemployment claims were down 20,300, which indicates a healthy rate drop.

Unemployment Rate

The region’s year-over-year employment for December grew below the 2015 average. San Diego’s total non-farm employment grew by 37,500 jobs from December 2014 to December 2015—2.7 percent growth. San Diego’s growth rate was again much higher than the 1.9 percent national rate. In total, the San Diego region averaged 3.1 percent annual growth in 2015, compared to only 2.3 percent in 2014. This was the highest annual percent growth rate since 2000, as the region added 41,400, the most jobs added since 1999.

The private sector drove employment growth in 2015, as private employment accounted for 91.7 percent of all employment growth over the year. The total private sector grew by 3.4 percent on average in 2015, out-pacing the private U.S. growth rate of 2.1 percent.

Total Nonfarm Employment

Private growth was driven largely by service providers, but goods producers experienced a particularly strong year. Manufacturers and construction companies drove 15.9 percent of private job growth in 2015, and finished the year strong. The two industries added a combined 6,000 jobs in 2015, the most since 2004. The manufacturing industry in particular added the most jobs and experienced the highest annual percent growth rate since 1998. The boom in the construction market is likely a response to demand pressures in the commercial and residential real estate markets, as quality space is becoming increasingly scarce, according to CBRE MarketView reports. The growth in manufacturing and wholesale trade are putting pressure on the industrial market in particular, as the industrial vacancy rate in Q4 2015 was at the lowest ever recorded.

YoY

Professional, scientific, and technical (PST) services, which is strongly associated with the region’s innovation economy, grew by 6.6 percent in 2015, which was the highest growth rate among major industries in the region (tied with construction). The 2015 growth rate was the highest posted since 2005 in the industry. PST services accounted for more than one fifth of all private annual job growth in San Diego. Comparatively, the national PST sector grew by only 3.6 percent in 2015. Scientific research and development services, a subsector of PST that represents many cleantech and life science companies, grew by 5.2 percent.

Other key drivers for growth included the region’s healthcare sector, which added 7,000 jobs and accounted for roughly one fifth of the region’s private job growth in 2015. Tourism experienced another seasonal hit in December, but the annual average was strong. The industry added 6,500 jobs in 2015, a 3.7 percent growth rate. Growth slowed in the latter half of the year, particularly in food service and drinking places, which was driving higher growth earlier in 2015.

Contributions

With a full year of 2015 data on the books, it was a very positive year for San Diego’s economy. The national economy showed tepid growth throughout the year, while San Diego consistently looked much stronger than the country as a whole. Key industries like manufacturing, construction, health care, and PST services had impressive, and by some measures, record years. While concerns around decreases in federal spending for science and defense will likely thwart some expectations for 2016, other factors like the Department of Defense’s shifting focus toward cybersecurity and national trends toward manufacturing re-shoring could prove promising for San Diego. Given these trends, future outcomes remain largely uncertain, but San Diego’s economy appears well positioned for growth through 2016.

Note: Our Economic Indicators Dashboard will show how our unemployment rate compares to other US metros and the US total rate when that information is released in the coming weeks.

This report was performed with assistance from the CBRE research team in San Diego. 

January 14, 2016

Talent is the cornerstone of today’s global economy. It drives corporate location decisions, encourages innovative urban planning and inspires entrepreneurship. In essence, talent is the key to economic growth. If regions – such as San Diego – want to get ahead, they must have the workforce to compete.

Today, San Diego Regional EDC released “Talent: Where San Diego Stands,” a comprehensive study that contextualizes San Diego’s standing in talent growth and retention with regard to highly-skilled engineering, science and tech talent in nine peer metros including Austin, Denver and San Francisco. By analyzing key factors for firms and site selectors and comparing key characteristics that attract talent, San Diego can better understand how to maintain its competitive edge.

 

Among peer metros, San Diego ranks…
2nd – percent growth of degree-holding millennials  (age 25-34)
1st – concentration of scientific R&D firms and employment
3rd– wages in sciences and engineering jobs
1st – lowest average commute times
2nd – average annual pay for R&D employees at $176,000
3rd – total number of scientific R&D firms

 

When looking for a place to start or continue a career, talent is demanding change. Infrastructure and creative office design are becoming critical requirements. Innovative workspaces, lifestyle, competitive wages and economic opportunity matter. 

 

 

Thank you to our study sponsors iboss Cybersecurity and Kilroy Realty Corp. with additional support provided by CBRE. 

December 18, 2015

Phil Blair

Download a printable version

“When an influx of people join the labor force and begin seeking employment, you generally see a lag before they find jobs. In October, a substantial amount of people joined the labor force, but reported as unemployed. In November, it appears as though those people found jobs, as we saw no change in the labor force, but a significant reduction in unemployment.”
Phil Blair, Executive Officer
Manpower San Diego


This post is part of an ongoing monthly series dedicated to the California Employment Development Department (EDD) monthly employment release and is brought to you by Manpower. Click images to enlarge in a new tab/window.

Highlights

The California Employment Development Department (EDD) released statewide county employment data today for the November 2015 period. This month’s data indicates that San Diego is showing strong signs of growth in the local economy as we near the end of 2015.

The unemployment rate fell to 4.8 percent in November, down 0.2 points from the previous month. In October, the region experienced a large jump in the labor force without a large jump in employment, which caused the unemployment rate to rise back to 5.0 percent. The labor force stayed virtually the same in November, but higher employment and lower unemployment brought the rate back down to 4.8 percent. The number of unemployed fell by 2,000 from October to November, indicating that the fall in unemployment was healthy and not due to a reduction in the labor force.

The rate is now 1.2 points lower than the previous year and on par with the national unemployment rate at 4.8. The region remains much lower than the statewide unemployment rate of 5.7 percent. The unemployment rate is now expected to end the year in the mid-four percent range in December, resulting in an annual average of about 5.0 percent for 2015, down substantially from the 2014 average of 6.4 percent.

Unemployment Rate

The region’s overall year-over-year employment grew, but below the 2015 average of 3.1 percent. San Diego’s total non-farm employment grew by 37,800 jobs from November 2014 to November 2015—2.7 percent growth. San Diego’s growth rate was again much higher than the 1.9 percent national rate. The San Diego region is still expected to average 3.1 percent annual growth in 2015, compared to only 2.3 percent in 2014.

Year-over-year private sector growth continued to drive the economy, as private employment drove 92.1 percent of all employment growth. The total private sector grew by 3.1 percent, out-pacing the private U.S. growth rate of 2.2 percent. Private growth was driven largely by service providers, but goods producers experienced a particularly strong month. Goods producers like manufacturers and construction companies drove 24.1 percent of annual private job growth. This was due to both strong growth in those industries and uncharacteristically weak growth in service providing industries like professional and business services and trade.

Total Nonfarm Employment

From November 2014 to November 2015, the manufacturing industry added 2,400 jobs—a 2.5 percent growth rate. The ship and boat building industry continued to grow at an outstanding rate of 10.3 percent. Meanwhile, the construction industry added 6,000 jobs and grew by 9.4 percent. Continued growth in goods producing industries remains a positive sign for the region, as these jobs tend to be accessible and pay above the median wage for the region.

Professional, Scientific, and Technical (PST) services, which is strongly associated with the region’s innovation economy, grew by 5.5 percent and was one of the highest growth industries in the region. PST services accounted for roughly one fifth of all private annual job growth in San Diego. The national PST sector grew by only 3.6 percent. Scientific research and development services, a subsector of PST that represents many cleantech and life science companies, grew at a relatively low 3.3 percent compared to previous months.

YoY

Other key drivers for growth included the region’s healthcare sector, which added 8,600 jobs and accounted for roughly one quarter of the region’s private job growth. Tourism experienced a major seasonal hit last month, but rebounded slightly in November. The industry added 1,100 jobs from the previous month and 3,700 overall since last November. The annual growth rate in the industry has slowed in the latter half of the year, but still growing, particularly in food service and drinking places.

November’s employment numbers included more positive signs for the region’s economy, particularly when compared to the year before. The region has 13,200 more people in the labor force, 17,000 fewer unemployed, and has added more than 37,000 jobs. The growth rates have slowed in recent months, which may be a reflection of slowing national trends, an indication of mounting issues in the economy, or a brief blip in an otherwise outstanding year. Annual growth rates have varied throughout the year, but have consistently remained above state and national trends, with growth concentrated in high-tech and high-wage sectors. With one month of data remaining in 2015, all signs point to a solid overall year for the region’s economy.

Contributions

Note: Our Economic Indicators Dashboard will show how our unemployment rate compares to other US metros and the US total rate when that information is released in the coming weeks.

 

November 23, 2015

This week, EDC talked with Jay Scovie, director of Corporate Communications and Education at Kyocera International, Inc. The company – with its North American headquarters in San Diego – manufactures high-tech products for use by semiconductor companies, among others. In just under five decades, the company’s North American operations have expanded to more than 4,000 employees dedicated to the development of innovative products.

1) Please tell us what your company does.

Kyocera was founded in Japan in 1959 — our name comes from “Kyoto” and “Ceramic.”  We serve many diverse high-tech markets, including office document equipment, telecom equipment, solar energy, and engineered components, which are used in electronic, medical, industrial and automotive applications. Much of our work is tied to the semiconductor industry. In 1971, we became the first Japanese company with manufacturing operations in the State of California. We have manufactured ceramic semiconductor packages in San Diego for 44 years. Our telecom equipment business came to the U.S. in 2000 when we acquired Qualcomm’s wireless phone business.  And today, many leading institutions in San Diego (and worldwide) generate renewable power using Kyocera’s solar modules, which are based on silicon cells, a type of semiconductor.  It sounds trendy now, but Kyocera started its solar business in 1975, making us one of the early solar pioneers.

2) What are some advantages to being located/doing business in San Diego?

My short list would begin with “best climate on Earth,” which makes San Diego ideal for events and tourism. I’ve never lived in another city where you could enjoy pristine beaches, desert, mountains and snow, all in the same day.  From a business standpoint, San Diego has an entrepreneurial culture, globally-renowned universities, Pacific Rim gateway status, and of course, U.S./Mexico manufacturing and trade. We are a global hub for wireless and biotech, with legendary research institutes like Salk, Scripps, Venter, Sanford Burnham Prebys, and yes, the Zoo and SeaWorld. We have unique technology incubators like Biocom and Connect. These all make San Diego “the place” for great minds to meet, with unique meeting opportunities — like the Kyoto Prize Symposium.  Certainly, a lot of people moved to San Diego for the weather. That’s no surprise, but the weather is really just a bonus.

 3) San Diego is full of dynamic companies, firms and service providers influencing global trends and innovation. Pick another San Diego company that is at the top of its game.

Can you really pick one favorite?  Ballast Point would have to merge with Rubio’s.  Nobody has a crystal ball, but if you ask this question in a year I think we’ll all be saying it’s Qualcomm — again. They are constantly reinventing, and their current restructuring is going to be pivotal. It’s easy to envision Qualcomm emerging leaner, more focused, and ready to establish new paradigms for the global communications industry — again.

4) What do you anticipate for your company in five years? What do you anticipate for San Diego?

Globalization will continue, and companies with a global network for R&D, supply, manufacturing and marketing will fare best.  That should be good for Kyocera. The forces shaping our global economy generally align to create new markets for Kyocera’s core products and technologies. Our founder, Dr. Kazuo Inamori, has always considered it impractical to make long-term business plans – even five-year plans – due to the pace of change in technology. Instead, we focus on accumulating small results daily, making today better than tomorrow, and tomorrow better than today. We are very fortunate that our advanced materials have such broad application in the fields of electronics and industry, in many of the most innovative new components, devices and equipment. This gives us potential to improve the lives of millions of people in the areas of information processing, communications, renewable energy, medical technologies, and automotive components. What do I anticipate in five years?  Kyocera will still be thriving. The company will still have North American headquarters in San Diego. And I expect to be here, too, although if it’s lunchtime… I may be at Rubio’s.

Kyocera Corporate Profile from CC&E on Vimeo.