Every week, ‘Good News of the Week’ features a curation of positive headlines from San Diego, delivered straight to your inbox. A blend of aggregated stories from San Diego’s most trusted news sources and original EDC-created content, GNOTW provides a comprehensive recap of the region’s best stories from the past week. GNOTW is sponsored by Manpower.
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For the week of January 31, 2025, here’s what we’re reading:
Do you know a local student looking for an opportunity in San Diego’s fast-growing economy? EDC is now offering two competitive part-time internships providing students with valuable experiences in economic development, research, and talent programs.
To celebrate and inspire the efforts of regional employers, EDC’s new Inclusive Growth blog series will highlight San Diego companies helping to drive progress on the 2030 Inclusive Growth goals.
Launched in 2018 and informed by a partnership with the Brookings Institution, the Inclusive Growth initiative sets 2030 goals for San Diego related to increasing: 1) the supply of talent, 2) quality small business jobs, and 3) newly thriving households. The goals inform San Diego’s economic priorities and make the business case for economic inclusion.
Small businesses are the backbone of the economy
San Diego small businesses represent 98 percent of all firms and account for 59 percent of total employment, more than the national average. The impact that small business owners have on local jobs cannot be overstated, and yet, they struggle to keep up in an increasingly expensive market.
With a goal to add 50,000 new quality jobs in small businesses by the end of the decade, EDC data shows a surge in progress after years of steady recovery. In 2023, the region added 48,481 new quality* small business jobs, nearly surpassing the goal.
While the significant rise in quality jobs is reassuring, small businesses still struggle to compete. Employer-led efforts to support small businesses are critical to the future of the region’s economy, and the San Diego County Regional Airport Authority is among those contributing to the progress.
How SAN supports the ecosystem
As a regional anchor institution that generates more than $12 billion dollars in economic activity each year, the San Diego County Regional Airport Authority is a pillar of the economy. This fall will mark the completion of the first phase of the much-anticipated Terminal 1 at San Diego International Airport. The project will continue to generate economic opportunity for San Diego, primarily through jobs and contracting opportunities—key components of Inclusive Growth.
Learning to do business with the Airport can be difficult to navigate for small, local businesses. The Airport Authority’s Small Business Development (SBD) Program is the primary business unit responsible for opening the doors to smaller businesses so that they can compete for airport contracts.
The Airport Authority’s Procurement Department also maintains an outreach plan and tracks supplier diversity metrics for all solicitations. In collaboration with department contract owners, Procurement develops solicitations and facilitates the review, evaluation, selection, and onboarding of respondents. To engage local, small, and Veteran-owned businesses, the Airport Authority implements a variety of outreach strategies designed to ensure these businesses are informed of contracting opportunities and can be competitive when bidding on Airport projects.
Both SBD and Procurement, in partnership with all Airport Authority departments, encourage diversity in the Airport’s suppliers, professional services, contractors, and concessionaires.
The Airport Authority’s annual “Meet the Primes” event is open to the public and connects small businesses directly with prime contractors, airport staff, and other government agencies to learn how to navigate the contracting process. In addition, the Authority hosts various training and educational events throughout the year, covering how to work with the Airport and become certified for contracting opportunities.
“We also try to see if there are opportunities to unbundle projects to make certain aspects of the project smaller, so more businesses have the ability to compete,” said Craig Ruiz, Manager of the Airport Authority’s SBD Program. “We do targeted outreach to businesses in those different categories to ensure they are prepared to bid.”
On a project-specific level, the Procurement team proactively identifies businesses that can meet the needs of each project, ensuring all relevant vendors are informed and engaged through targeted outreach. The Procurement Department leverages platforms like PlanetBids, an e-procurement tool where businesses can register, access contracting opportunities, and connect with prime contractors for subcontracting opportunities, helping to broaden their reach and increase their chances of success. Small businesses are invited to signup for PlanetBids to access trainings and more information.
“Supplier diversity provides a greater range of solutions to projects, and helps our community flourish,” said Airport Authority Director of Procurement Jana Vargas. “Investing in these businesses creates a ripple effect that allows them to reinvest in their communities, creating a cycle of opportunities.”
The Airport Authority’s efforts continue to show results. For 2023, there was a 21 percent year-over-year growth in major construction project spending to Local Business Certified (LBC) firms, with more than $32 million awarded to LBCs.
Businesses in the Small Business Enterprise (SBE) category were awarded contracts representing almost $28 million in 2023. The federally funded Quieter Home Program awarded $1.4 million to Small Business Enterprises (SBE).
Join the movement
Progress on EDC’s 2030 Inclusive Growth goals is only achievable with and through the region’s employers who must be committed to scaling innovative and intentional solutions in San Diego. Anchors like San Diego County Regional Airport Authority are helping to collectively pave the way toward a more inclusive regional economy.
Endorse the goals, and be part of the change San Diego’s economy demands
*A quality small business job is defined as one provided by a company with fewer than 100 employees and that pays at least $23 per hour and provides healthcare benefits.
To learn more and get involved in EDC’s work, contact:
Every week, ‘Good News of the Week’ features a curation of positive headlines from San Diego, delivered straight to your inbox. A blend of aggregated stories from San Diego’s most trusted news sources and original EDC-created content, GNOTW provides a comprehensive recap of the region’s best stories from the past week. GNOTW is sponsored by Manpower.
Get Good News of the Week in your inbox every Friday.→ Sign up
For the week of January 24, 2025, here’s what we’re reading:
The map is not the terrain, says EDC’s Sr. Director of Research and Economic Development Eduardo Velasquez in his 2025 Crystal Ball writeup. In the year ahead, EDC will keep its eye on how capital converts to job growth, how AI will boost productivity, and how mortgage rates will impact home sales—among other wildcards.
As I return to the crystal ball in 2025, never have I seen such a wide range of possibilities. Both the national policy and technology landscapes are primed for major disruptions that could shape San Diego’s economic fortunes in more ways than we can count. While the map provides a fairly clear direction, the terrain is difficult to predict and sure to throw us off course at some point, at least temporarily.
What is certain is that we have just wrapped up what should be viewed as another solid year for the U.S. economy. The nation added 2.2 million jobs, a growth rate slightly above the average of the last 10 years. The economy expanded at an annualized growth rate of 3.1 percent, primarily driven by consumer spending, exports, business investment, and federal government spending. Inflation has continued to moderate with the price of energy and goods falling, while the price of services continues to rise.
I see the money, show me the jobs
Locally, San Diego continues to draw venture capital to fund young companies in both Tech and Life Sciences, to the tune of nearly $6 billion in 2024. The region also added jobs, but at about half the rate of the U.S. Recent job growth has been driven by locally serving industries like full service restaurants, whereas our innovation industries have shed jobs during the last 12 to 18 months. Some of this is right sizing after a pandemic fueled surge in Life Sciences. Some of it is driven by federal incentives that have led to relocation and expansion of Manufacturing jobs outside our region.
Meanwhile, there are $132 billion in federally appropriated funds for renewable energy that remain unspent. San Diego has a small but growing Cleantech cluster that continues to innovate and provide high-paying jobs.
Additionally, the private sector has more than bought into the promise of AI, with a third of the large companies looking to pour tens of millions of dollars more into the tech and build upon the positive returns on the past investments. The question here is whether San Diego can catch the wave of investment that is going into all these foundational and enabling technologies so that our region can also benefit from the growth will bring.
AI’s double-edged sword
Speaking of AI, 2025 may be the year that will truly test the hype. Yes, investment is up, way up (see last paragraph), but job postings requiring skills in developing AI have barely budged since the launch of ChatGPT in November 2022.
Yet, the application of GenAI is seemly impacting the skills employers are looking for in new hires. Since 2019, six of the 10 fastest growing occupations in Life Sciences have been for non-scientific and non-technical roles. In Tech, seven of the 10 fastest growing occupations have been non-engineering, non-software roles. In fact, demand for software developers has fallen 80 percent during that time—the occupation that has topped job postings lists for the last decade in San Diego. Time will tell if the AI hype is real, but for now, there are fewer Tech jobs in San Diego than there were pre-pandemic and AI’s impact on the labor market is certainly a factor.
Affordability is about payments, not prices
Another factor impacting San Diego’s Tech cluster is remote work availability, which was lower in 2024 than in 2023 and lags the national average. Remote jobs outside of the region can be especially attractive considering San Diego’s high cost of living.
However, 2024 did bring some relief in terms of housing costs. Rents in San Diego grew much more slowly compared to recent year, up 2.6 percent. The median-priced home fluctuated throughout the year but ended where it began at just above $1 million. However, mortgage rates continued to rise, driving up the monthly payment on that same million-dollar home by $730. There are signs that it is less of a seller’s market: homes have not sold above asking price for most of the past 12 months and for-sale inventory is higher than it’s been in years. Still, the big variable in the housing market is whether mortgage rates can fall enough to spur owners currently locked into historically low rates to sell.
The year ahead
These trends—converting capital to job growth, harnessing AI to boost productivity, and unlocking home sales—will help define our regional economy in the year ahead. Of course, so will several other wild cards, such as looming public budget constraints, the prospect of trade wars, global conflict, and climate change impacts. Nonetheless, the goal remains the same: to maximize San Diego’s economic prosperity and global competitiveness through an inclusive economic development agenda, and doing so with and through our network of 150+ investors and regional partners.
In 2025, EDC will focus on amplifying the economic impact of large-scale, mixed-use developments to grow and retain quality jobs and deliver much needed housing. We will also work to elevate the value of our unique assets as a military economy, cross-border region, and innovation hub. We know where we are and where we want to go—getting there will certainly be a ride.
Every week, ‘Good News of the Week’ features a curation of positive headlines from San Diego, delivered straight to your inbox. A blend of aggregated stories from San Diego’s most trusted news sources and original EDC-created content, GNOTW provides a comprehensive recap of the region’s best stories from the past week. GNOTW is sponsored by Manpower.
Get Good News of the Week in your inbox every Friday.→ Sign up
For the week of January 17, 2025, here’s what we’re reading:
Need help applying for up to $215 million in Cal Competes Tax Credits? EDC’s expert team has helped 39 local companies secure more than $86 million in credits. If your business is expanding or retaining jobs in California, we’re here to support your application.
Every week, ‘Good News of the Week’ features a curation of positive headlines from San Diego, delivered straight to your inbox. A blend of aggregated stories from San Diego’s most trusted news sources and original EDC-created content, GNOTW provides a comprehensive recap of the region’s best stories from the past week. GNOTW is sponsored by Manpower.
Get Good News of the Week in your inbox every Friday.→ Sign up
For the week of January 10, 2025, here’s what we’re reading:
Case Study: EDC supported NY-based fintech’s expansion into San Diego
n looking for a second U.S. office, New York-based fintech company Prism Data leveraged EDC’s free site selection and research services to understand the region’s value proposition. Ultimately, the company selected San Diego and has set up shop in La Jolla, supporting 10 jobs and counting.
Every week, ‘Good News of the Week’ features a curation of positive headlines from San Diego, delivered straight to your inbox. A blend of aggregated stories from San Diego’s most trusted news sources and original EDC-created content, GNOTW provides a comprehensive recap of the region’s best stories from the past week. GNOTW is sponsored by Manpower.
Get Good News of the Week in your inbox every Friday.→ Sign up
For the week of January 3, 2025, here’s what we’re reading:
EDC designates San Diego’s top computing, engineering, business programs
In 2024, together with industry, EDC recognized 28 Verified Programs best preparing students for careers in computing, engineering, and business. As part of our Advancing San Diego initiative, local companies are invited to host fully-funded summer interns from these programs.
Rain or shine, Good News of the Week hit your inbox every Friday afternoon this year, offering a fresh dose of positivity as you headed off into each weekend. Sifting through the noise, EDC delivers more than 45 editions annually filled with San Diego stories worth celebrating. Below, we round up the top stories of 2024–and look forward to curating more Good News with you in 2025.
See what San Diego accomplished in Good News of the Year:
Growing and planting roots in San Diego
In 2024, on-trend with San Diego’s global reputation, the region welcomed newcomers and celebrated the growth of locals in life sciences, technology, and more. Some highlights include:
Year after year, San Diego proves to be a birthplace of innovation and R&D that catches the eyes–and investments–of firms around the world. Here are some of our region’s standout acquisitions and IPOs in 2024:
Bristol Myers Squibb acquires RayzeBio for striking $4.1B
Ranked a #5 ecosystem for venture capital in the U.S., San Diego startups secured more than $4.37 billion in the first three quarters, up $270 million from 2023, with more to come by year’s end. Top raises include:
San Diego is home to renowned educational institutions, community colleges, and training programs preparing our future workforce. Couple that with the #1 inflow of college-educated residents in the nation and we’re a force to be reckoned with. Education wins from 2024 include:
Boasting acclaimed research institutions, brilliant researchers, and life-changing companies, San Diego ranked among the top 10 innovation clusters worldwide. See the region’s top headlines in innovation:
Once considered a sleepy beach town in the shadow of our California peer metros, it’s now impossible to deny the region’s standing on the global stage. In 2024, wins include:
Home to the largest concentration of military assets in the world, San Diego’s defense cluster is critical to advancing the nation’s security priorities. In 2024, U.S. defense spending boosted San Diego’s GRP by 12.2 percent and the cluster supported 373,519 jobs. Local industry announcements include:
San Diego was proudly named the greenest city in the U.S.—and our employers and anchor institutions made the investments to back it up. Top ‘green’ wins include:
SDG&E awards $1M in grants to local environmental organizations
San Diego Foundation, San Diego Community Power, Calpine award more than $1.2M in clean energy project grants
Ranked the #2 premier destination in the U.S. by Condé Nast, San Diego’s pride in sports, travel, and entertainment outshines even the region’s sunny weather. Fandom in 2024:
Pandas return to the San Diego Zoo Wildlife Alliance
San Diego’s good news is EDC’s good news. With and through our investors, our year in review includes support to 138 local companies, more than $96 million in new international sales growth since 2015 through WTCSD programs, 28 new Verified Programs of Talent, and much more.
To fill talent gaps, regional employers vet training curriculum aligned to industry needs
Together with more than 80 industry representatives, San Diego Regional EDC is proud to announce Advancing San Diego’s newest Verified Programs of 2024: 28 education programs from 15 different institutions that are best preparing students for jobs in computing, engineering, and business.
These programs earned a three-year verification status through a rigorous evaluation process led byAdvancing San Diego, the flagship program of EDC’s Talent Initiatives, which serves to double the production of skilled workers in San Diego while prioritizing historically underrepresented populations in the innovation economy.
San Diego and the nation are grappling with a critical talent supply and demand challenge. Since 2017, San Diego County has experienced a 1.3 percent decline in its working-age population even as jobs have increased by 3.1 percent, intensifying competition for skilled talent. Additionally, 83,000 more jobs now require a bachelor’s degree than in 2016, underscoring the growing demand for advanced training and education alongside skill-based hiring practices.
At the same time, demographic shifts are reshaping the future workforce. More than 70 percent of San Diego’s K-12 students are people of color, a group that has historically faced systemic barriers to accessing high-wage, high-demand careers. These changes present an opportunity—and an imperative—to invest in training programs that equip local, diverse populations for the region’s most in-demand careers. By expanding access to quality post-secondary education and training, the region can build an inclusive talent pipeline that supports both economic growth and equity in San Diego’s innovation economy.
“The numbers are clear; the region cannot fill its talent gaps unless we open doors for more San Diegans. Our Advancing San Diego work is part of the solution—connecting industry to vetted local education programs that they might not yet be recruiting from. This new roster, which includes universities, community colleges, adult schools, and more, offers employers a go-to for sourcing qualified and diverse talent, and arms training programs with the boots-on-the-ground intel needed to shape the curricula of the future,” said Taylor Dunne, Director of Talent Initiatives at San Diego Regional EDC.
How programs are verified
Employers met with and vetted applicants’ curriculum at EDC’s ‘Reaching Tomorrow’s Talent’ event on November 13, which brought together more than 150businesses, educational programs, and community organizations working to close talent gaps by aligning education with industry needs.
Status as a Verified Program indicates five critical elements:
Alignment of educational curriculum with industry requisites of necessary hard skills (ex: coding)
Alignment of educational curriculum with industry requisites of necessary soft skills (ex: problem solving)
Continuous engagement with industry
Ability to reach and serve a diverse student population
Proven history of collaboration along the education continuum and with critical community organizations
By participating in the process, local training programs get an inside look at the most critical skill expectations for students coming out of their programs and begin to explore how those expectations will change as technology and artificial intelligence evolve.
“Poway Adult School is excited be recognized as an Advancing San Diego Verified Program. We believe that further developing industry partnerships, encouraging reflection on learning objectives, and aligning with the needs of local industries will help set our students up for success as they enter the workforce,” said Kathleen Porter, Executive Director of Career Technical, Adult, and Alternative Education at Poway Unified School District.
“By equipping students with the skills needed to thrive, we help them transition successfully into the workforce. EDC’s Talent Demand data is an invaluable tool that allows us to align our programs with the skills students need to launch new careers,” said Elizabeth O’Shea-West, Principal at Vista Adult School.
The 28 programs verified in this round represent more than 79,500 students across San Diego and Imperial Counties, and join a roster of others across key industries including Healthcare, Business, and Life Sciences. Last done in 2020, 10 programs were re-verified while Advancing San Diego welcomed 18 newly verified programs.
hire summer interns at no cost
With the new designation comes the opportunity for students to take advantage of paid work-based learning experiences. In conjunction with the Border Region Talent Pipeline K-16 Collaborative, companies in San Diego and Imperial Counties are invited to apply by February 28, 2025 to host funded computing, engineering, and/or business interns for the summer of 2025, sourced exclusively from the Verified Programs roster. In 2024, 322 interns were placed at 104 local companies, up from 48 interns placed in 2023, and creating an invaluable bridge between education and industry in high-growth, high-wage fields. Learn more and complete the interest form here.
“I was drawn to this internship program because of my commitment to social mobility and reducing socioeconomic gaps. Companies have a pivotal role in building a more equitable future, especially by empowering the next generation of talent. My favorite part about working with the Advancing San Diego interns at ChakraTech has been their contagious enthusiasm and unwavering dedication to the work,” said Ravi Chawla, founder and CEO of ChakraTech, a 2024 summer intern host.
Learn more at advancingSD.org and explore Verified Programs for other industry clusters here.
Every week, ‘Good News of the Week’ features a curation of positive headlines from San Diego, delivered straight to your inbox. A blend of aggregated stories from San Diego’s most trusted news sources and original EDC-created content, GNOTW provides a comprehensive recap of the region’s best stories from the past week. GNOTW is sponsored by ACE Parking.
Get Good News of the Week in your inbox every Friday.→ Sign up
For the week of December 13, 2024, here’s what we’re reading:
EDC’s flagship talent program Advancing San Diego successfully placed more than 350 interns in fully funded programs in 2024. As we head into the new year, companies in San Diego and Imperial Counties are again invited to apply to host paid summer interns in computing, engineering, and/or business roles in 2025—at no cost. This program is led in partnership with the Border Region Talent Pipeline K-16 Collaborative.
