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WTC San Diego

July 24, 2018

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

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

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

July 18, 2018

This week, WTC San Diego partnered with the U.S. Commercial Service team in San Diego to host a business roundtable led by Mr. Alan Turley, the Deputy Assistant Secretary (DAS) for China and Mongolia. With much at stake in the future of the U.S.-China relationship, DAS Turley’s visit presented seven local companies and institutions a chance to voice their concerns directly to a government official involved in formulating and negotiating U.S.-China trade policy and offered reassurance and guidance to those companies presently conducting business across borders so they may remain globally competitive.

The roundtable was particularly timely as it took place amidst growing concerns over steel and aluminum tariffs and less than two weeks after the Trump Administration announced it would impose 25 percent tariffs on Chinese goods, worth $34 billion. The Administration is currently preparing an additional round of tariffs, worth $200 billion, in response to China's retaliatory tariffs.

 

July 12, 2018

Amid contentious political rhetoric and tightening borders, global trade and investment are top of mind for national leaders and companies alike. To contextualize the importance of such international connectivity, World Trade Center San Diego, with support from the Center for U.S.-Mexican Studies at UC San Diego’s School of Global Policy & Strategy, released “Trade and Competitiveness in North America,” a research summary that quantifies trade and competitiveness in the Cali Baja mega-region, spurred in part by the negotiation of the North American Free Trade Agreement (NAFTA).

“An integrated North American economy creates opportunity on both sides of the border. For every 10 jobs an American multinational creates in Mexico, it creates 25 in the United States,” said Nikia Clarke, Ph.D., executive director, World Trade Center San Diego. “As we look at a global economy where 95 percent of the world consumers live outside of North America, the ways we partner with Canada and Mexico to produce goods, services, and technology is crucial to our economic future.”

With nearly $3.6 billion in trade occurring daily between the U.S., Canada, and Mexico, and 14 million jobs in the U.S. supported by this trade within North America, NAFTA is one of the most beneficial and significant trade agreements in history – most especially to the Cali Baja mega-region, which includes San Diego County, Imperial County, and the State of Baja California.

Against the backdrop of rapid changes in global production, a newfound ‘trade war’ with China, and renegotiations of trade agreements, Cali Baja’s global competitiveness is dependent on the $2.5 billion co-producing manufacturing supply chain that creates jobs and opportunities on both sides of the border.

KEY STUDY FINDINGS:

  • Cali Baja’s foreign exports total $24.3 billion, of which $6.2 billion stay within the mega-region.
  • Mexico is California’s largest export market, with annual exports totaling $26.8 billion. Today, trade with Mexico supports more than 566,000 jobs in California.
  • Since NAFTA was signed, California exports to Mexico have grown by 311 percent.
  • Cali Baja produces commodities including medical devices, semiconductors, aerospace parts, and audio and video equipment. Together, the mega-region’s manufacturing sector directly employs 418,300 workers.
  • In the U.S., nearly 87 percent of manufacturing job losses from 2000 to 2010 were caused by productivity increases as opposed to the relocation of jobs attributed to trade.
  • More than 51 percent of trade within Cali Baja is in the service sector. These include:
    • $7.6 million in computer systems design and related services
    • $3.5 million in scientific R&D services
    • $2 million in software publishers

“It is clear that the cross border economic relationship plays a critical role in the Cali Baja mega-region in spurring economic growth, advancing technology, and enhancing lives on many levels,” said Melissa Floca, associate director of the Center for U.S.-Mexican Studies, a top policy research center for U.S.-Mexico relations. “These findings underscore the importance of continued cooperation between Mexico and the U.S. to enhance the value we create as a region in services and advanced manufacturing.”

Cross border production sharing has made North America more integrated, more resilient, and more competitive; it has also served to insulate our economies from other global competitors like China. By 2020, however, more than half of all U.S. exports will be in services, not goods. Establishing a robust framework for IP protections, data transfer, and privacy will be essential in ensuring that North America remains competitive in the global economy.

“In the Cali Baja mega-region, we continue to strengthen our binational ties by working closely together to improve economic prosperity on both sides of the border,” said San Diego Mayor Kevin L. Faulconer, who attended the launch event. “We’ve built that strong bond through the exchange of goods and we’re now seeing that expand to high-level services that cross the border thanks to the digital era we live in. This new study proves that free trade is working for our mega-region and why continued collaboration is so important.”

Read the full study here; also available in Spanish here.

For more research from San Diego Regional EDC – World Trade Center San Diego’s parent organization – please visit: sandiegobusiness.org/research-center.

The report was produced by World Trade Center San Diego, with research support from Center for U.S.-Mexican Studies at UC San Diego’s School of Global Policy & Strategy. The research was underwritten by SAMSUNG.

 

July 2, 2018

Are you a growing, San Diego-based company? Are you looking to expand into foreign markets? Or, are you a defense contractor looking to diversify revenue? San Diego Regional EDC can help.
 
Apply now to EDC's business support programs - MetroConnect and/or the Defense Innovation Voucher Program - which offer $10K-$15K grants and programmatic services to support your business' growth.

 
The details:
  • MetroConnect, World Trade Center San Diego’s flagship export assistance program, is now in its fourth year. Made possible through a grant provided by JPMorgan Chase & Co., small to mid-sized companies in San Diego will receive a $10K grant and programmatic services to assist with international expansion efforts. Learn more.
  • As part of the Department of Defense-funded Propel San Diego grant, the Defense Innovation Voucher Program will provide San Diego headquartered defense companies with $15K in consulting services in one of the following categories: marketing, strategic planning, accounting compliance, lean supply chain analysis and additive manufacturing, and certifications, as well as additional hands-on training for companies looking to diversify revenue. Learn more.
 
The application can be accessed here from July 2 - August 20, 2018.

 

June 21, 2018

In March, the San Diego region officially welcomed Lufthansa’s new direct service to Frankfurt, Germany. As a key global partner to the San Diego region, Germany currently ranks fourth in terms of foreign employment (2015) and seventh in terms of total exports from San Diego (2013). 

To celebrate the new connection, WTC San Diego partnered with Lufthansa, San Diego Tourism Authority, and San Diego County Regional Airport Authority to host a luncheon with business and elected leaders from around the region. 

Continually, EDC's COO Lauree Sahba accompanied a delegation of San Diego executives to promote the flight in the European market. The delegation held meetings with business leaders in Frankfurt and Zurich to promote both the Lufthansa flight, as well as Lufthansa affiliate, Edelweiss’ direct service to Switzerland.

June 8, 2018

World Trade Center San Diego, through a grant provided by JPMorgan Chase & Co., and more than 100 business and community leaders awarded the 2017-18 MetroConnect Grand Prize to CureMatch, a local digital health company focused on personalized medicine and oncology. The company will use the $35,000 award to take its life-saving technology into the Canadian, Mexican and European markets.

“Three years in, the success of the MetroConnect program points to the importance of global trade and connectivity,” said Nikia Clarke, Ph.D., executive director of World Trade Center San Diego, the organization administering the grants. “From securing distribution partnerships in Japan to inking deals in key biotech hubs across the EU, the MetroConnect Grand Prize finalists are sharing their life-changing innovation with the world, helping strengthen San Diego’s economy and workforce.”

Managed by World Trade Center San Diego, an affiliate of the San Diego Regional EDC, and presented by JPMorgan Chase, the MetroConnect Grand Prize offers $35,000 to one of 15 companies to aid in their foreign market expansion. The complete list of finalists can be found here.

The benefits of companies going global and engaging foreign markets are well-documented. According to the Brookings Institution, companies that are global pay their employees higher wages, are less likely to go out of business and spur more efficient development of technology and R&D.

In 2017 alone, San Diego exported $23.8 billion in goods and services from diverse industries including aircraft manufacturing to pharmaceutical R&D. Small- to medium-sized businesses produce 92 percent of those goods – undergirding the importance of programs like MetroConnect.

Now in its third year, MetroConnect has emerged as the region’s premier export assistance program. Run by World Trade Center San Diego, 15 companies are selected on an annual basis and equipped with a suite of programmatic and financial resources to help them in their plans to go global. Out of 50 applicants in 2017, just 15 San Diego companies were awarded the initial $10,000 MetroConnect grant, funded by JPMorgan Chase. Since the program’s inception in 2015, the cohort companies have produced an additional $15 million in export sales and 161 new jobs for the region, collectively.

A panel of judges consisting of business and community leaders reviewed the companies’ respective accomplishments and goals as a means of selecting the top four finalists to present at the Grand Prize event: CureMatch, FoxFury, Planck Aerosystems and Tioga Research.

“CureMatch is thrilled to win the Pitchfest, with special thanks to World Trade Center San Diego and JPMorgan Chase,” said Stephane Richard, Ph.D., president and CEO of CureMatch. “Cancer has no boundaries, so while CureMatch was born in San Diego, we believe that every one of the more than 15 million people diagnosed with cancer this year deserves the best treatment. This grand prize will help CureMatch save more lives around the world.”

“JPMorgan Chase is committed to helping local businesses connect to the global marketplace,” said Tim West, region manager of JPMorgan Chase’s Middle Market Commercial Banking practice in San Diego. “We congratulate the finalists for their efforts to grow their businesses internationally while creating jobs and boosting our local economy.”

The Grand Prize event was hosted at Alexandria Real Estate on June 7, with keynote remarks by Matt Cole president, Cubic Transportation Systems and corporate senior vice president, Cubic Corporation. 

May 15, 2018

A San Diego genomics giant is acquiring a San Diego genomics startup. Does it get any better than this?

Recent #SDinUK delegate company and biotech startup Edico Genome has been acquired by local genomics giant Illumina in a deal worth $100 million.

Edico Genome’s DRAGEN Bio-IT technology uses field programmable gate array chips in conjunction with proprietary software algorithms for rapid analysis of genetic data produced by DNA-sequencing machines. It means the time it takes to sequence your genome is drastically expedited. 
 
Our acquisition of Edico Genome is a big step toward realizing the vision of reducing sequencing data acquisition and analysis to a push-button, standardized process,” said Susan Tousi, SVP of product development at Illumina. 
 
The San Diego roots in this deal run strong. Like many great San Diego startups, Edico Genome was a graduate of local incubator EvoNexus. It has also received funding from Qualcomm Ventures. President and CEO Pieter Van Rooyen was also a co-founder of EvoNexus alum EcoATM prior to working with Edico Genome.
 
Earlier this year, on the heels of EDC's 2017 U.K. trade mission, Edico Genome and Genomics England announced a partnership to strengthen the accuracy and consistency of next-generation sequencing (NGS) data analysis in Genomics England’s Rare Disease Pilot.
May 14, 2018

This month, it was announced that California had the 5th largest economy in the world, behind the total GDP of the United States, China, Japan, and Germany. Much of this growth is concentrated in the coastal metros which, of course, include San Diego. In an increasingly integrated economy, strategic global economic engagements are crucial to San Diego’s sustained economic competitiveness. By leveraging international exports and foreign direct investment (FDI), San Diego continues to create jobs, increase competitiveness, and boost the region’s global identity.

San Diego, with the help of its local leadership, has become an increasingly global city – one that engages with other metropolitan regions with similar interests and industries. These connections have led to an increase in trade missions, research and innovation partnerships, collaborations, venture funding, and other opportunities for local companies. This year, San Diego welcomed Lufthansa airlines as a direct flight carrier linking San Diego and Frankfurt. Lufthansa joins the ranks of Edelweiss, British Airways, and Japan Airlines in offering overseas nonstop service. These direct flights go a long way in easing both business and tourism travel which foster increased business flow and connect people around the world with San Diego’s world-class tourist sites, such as the San Diego Zoo. These direct flights and increased global connectivity have also done much to help San Diego’s budding companies do business both at home and overseas.

In just the past three years, 45 companies have graduated from MetroConnect, an export assistance program led by WTC San Diego. As we close out our most recent cohort, program participants 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.

While the latest national rhetoric seems to suggest that trade is an evil word and something to be feared, San Diego traces some of its greatest successes to trade. Companies such as Viasat, Qualcomm, Cubic, and Illumina have all translated local innovation into global solutions – solutions that have catapulted San Diego onto the global stage and helped highlight the ingenuity and entrepreneurial spirit that helps this region the life-changing place it is.

This week, WTC San Diego is proud to commemorate World Trade Week and highlight the ways in which San Diego is going global. We couldn’t be more proud of our companies, our people, and our innovations. Follow along in our week-long celebration at #WorldTradeWeek, and tell us what #GlobalSD means to you.

The World Trade Week concept was started in 1926 and first observed in 1927 in Southern California. World trade significantly contributes to the nation’s economy and has developed a vast new horizon for America’s businesses. To learn more about the history behind World Trade Week, visit: foreigntradeassociation.com/worldtradeweek.

 

 

May 10, 2018

WTC San Diego is proud to announce the four finalists of MetroConnect, San Diego's premier export assistance program, presented by JPMorgan Chase. These four diverse companies will compete for an additional $35,000 in funding towards their international expansion strategies during our Grand Prize PitchFest on June 7. The catch? They will be looking to you, the attendee, to judge and award the extra cash. Read more and register here.

This year’s finalists are:

  • CureMatch | a genomics, software company that guides oncologists through its platform in selecting the most advanced personalized cancer therapies for patients
  • FoxFury | an innovative, portable, go-anywhere, lighting tools company that serves firefighting, police, military, industrial safety, hazardous area, filming, and photography
  • Planck Aerosystems | an autonomous drone company that focuses on use cases operating from moving vehicles
  • Tioga Research | a contract research organization that supports the research and early development of skin-applied products, including topical, and transdermal drugs and prestige cosmetic products


Join us June 7 for the MetroConnect Pitchfest.

 

May 7, 2018

MetroConnect is WTC San Diego’s comprehensive export support program, presented by JPMorgan Chase. Each year, 15 companies are chosen to receive support that will accelerate their global growth through exporting. Critical to the success of this program areWTC San Diego’s network of MetroConnect partners.

SYSTRAN is a pioneer in translation services and technology, delivering real-time language solutions for companies and government agencies that require the most high-performance translation services on the market. Founded in La Jolla in the midst of the Cold War, SYSTRAN has been a trusted provider of translation solutions to companies such as Symantec, Cisco, Airbus, and Barclays, as well as the U.S. Intelligence community.

SYSTRAN introduced the very first hybrid machine translation engine on the market, with software that automatically learned from existing and validated translations. More recently, SYSTRAN Pure Neural® Server will push the quality and fluency boundary further than ever before, according to SYSTRAN’s Global CTO, Jean Senellart.

As a two-time sponsor of the MetroConnect program, SYSTRAN has made its entry level suite of translation and consulting services available to the 30 participating companies, free of charge. This has allowed companies such as CureMatch and Envision Solar to focus on what they do best (saving lives and the environment) and leave the translation to the experts.

Just this past month, SYSTRAN celebrated its 50th anniversary of helping connect people around the world.

 

Join us June 7 for the MetroConnect Pitchfest.