Tag: monthly report

Monthly Report – March 2022

By Kaylee Hudson,

A note from OUR COO

EDC’s team, investors, and partners do our best work when we are together; this reflects our values of collaboration and inclusion and is core to our mission. But it’s been a minute…

While we safely begin to gather again, we recognize many things are different. Whether you have trepidation about returning to in-person gatherings or are eager to get from behind the Zoom screen, EDC will meet you where you’re at—offering opportunities for both interactions in the months and year ahead. Hearing from and being with our investors and partners in either setting is essential.

Read Lauree’s full update

By the numbers

  • $2.6 billion in VC funding raised in Q4 2021
  • 2.75M square feet of demand for lab space
  • 15 MetroConnect VI companies
  • 5 designated ‘Preferred Providers’ of life sciences talent

Featured stories

New and renewing investors

  • Amazon
  • Bank of America
  • H.G. Fenton Company
  • Jerome’s
  • JLL
  • SBCS

See our current Monthly Report

Monthly Report – February 2022

By Kaylee Hudson,

A note from Bree Burris

The long talked about ‘war for talent’ is more competitive than ever, with established firms upending whole hiring systems to meet the demands of today’s applicants—and still, not getting enough. You are not alone; this is not a one-company problem. In our countless conversations with HR leaders and executives, it’s clear firms across industries and size are struggling to fill their open positions (EDC included).

In a survey of 200 local businesses, hiring difficulty reached a new high in December. That same month, local San Diego employers posted more than 158,000 unique jobs—nearly half of which were new positions and predominantly in STEM. And yet, there are just 61,000 people currently unemployed in the region.

Read more from Bree

Featured Stories

See our current Monthly Report

Monthly Report – January 2022

By Kaylee Hudson,

A note from Dr. clarke

Like we do every year, our team spent the last few months of 2021 working with EDC’s executive committee, board, and investors to establish annual goals that are informed by current economic realities, led by employers, and have measurable outcomes that contribute to prosperity and competitiveness across the binational region. As San Diego emerges from a global pandemic to an economy full of contradictions—strong job growth, eye-watering VC numbers, and massive capital investment as well as widespread labor shortages, small business closures, and housing prices almost 30 percent higher than 2019—it is abundantly clear that smart economic development is inclusive economic development.

In 2021, EDC reframed our organizational goals around these fundamental building blocks of a strong economy—quality jobs, skilled talent, and thriving households—and committed to working with and through our investors to accelerate progress towards the Inclusive Growth goals.

Read more from Nikia and see EDC’s 2022 goals…

Featured Stories

See our current Monthly Report here.

Monthly Report – December 2021

By Kaylee Hudson,

A note from Mark Cafferty

The last year has certainly been interesting. Depending on who we are and where we sit, it may have seemed like a curse, a blessing, or anything in between. But without a doubt, it will all be behind us in a few weeks as we usher in the new year—full of new opportunities and new possibilities.

At some point in the years ahead, we will all look back on 2021 (and 2020 that in many ways is bundled in) and relive its ups and downs—its starts and stops. We’ll remember where we were and who we shared this year with. Beyond my closest friends and family, I will remember sharing this year with all of you, on screen or otherwise. And as we look back, the joys, successes, hardships, losses, opportunities, and challenges will likely have new perspective and clarity that only time can provide. But unmistakably—in the moment—I want to express my sincere gratitude for all of it, and for all of you.

Read more from Mark…

By the Numbers

  • $25K MetroConnect grand prize awarded to Blue Sky Network
  • 54.1 San Diego Business Recovery Index
  • 5.3% unemployment rate in San Diego
  • 99 job applications submitted to local firms at Career Exploration Day

Featured Stories

New and Renewing Investors

  • Ace Parking
  • Gensler
  • The Gildred Companies
  • GoSite
  • Mitsubishi Motors
  • Taylor Guitars

See our current Monthly Report here.

Monthly Report – November 2021

By Kaylee Hudson,

A note from Mark Cafferty

As my mind continues to focus on the health of our community and our economy, I find so many of my conversations centering on the work of San Diego’s Life Sciences industry. Long an anchor of our region’s innovation economy, the Science and Biotech sectors are taking center stage in more ways than ever before—leading in vaccination and testing innovation, and in inbound financial investment and commercial real estate demand.

With all of this swirling around us, it is no surprise that a great deal of EDC’s work continues to focus on the growth and support of the skilled workers and quality jobs that power San Diego’s Life Sciences industry.

Read more from Mark…

By the Numbers

  • 950 Life Sciences companies call San Diego home
  • 2.2 additional jobs are created for every job in Life Sciences
  • 5.6% unemployment in San Diego
  • 4 MetroConnect V finalists

Featured Stories

New and Renewing Investors

  • Alexandria Real Estate Equities
  • AT&T
  • Booz Allen Hamilton
  • Chevron
  • City of Chula Vista
  • HomeFed Corporation
  • Intesa Communications Group
  • National University
  • Northrop Grumman
  • Stockdale Capital Partners
  • Suffolk Construction
  • University of San Diego
  • Viasat
  • Walmart
  • WD-40

See our current Monthly Report here.

Monthly Report – October 2021

By San Diego Regional EDC,

A note from Mark Cafferty

Just as we kickoff the final quarter of 2021, British Airways (BA) will resume its nonstop service between San Diego and London Heathrow. The flight that took our region’s global economic connectivity to a whole new level is finally back.

Ten years ago, the BA flight set off a new focus within our region on the role that direct, nonstop service to international markets could play in growing our economy through foreign direct investment and global trade. It was the catalyst for our Japan Airlines flight to Tokyo, our Lufthansa flight to Frankfurt, and continued strategies to expand our global reach and connectivity.

The flight also played a key role in the rebuilding of our region’s World Trade Center. We learned quickly that trade-related jobs were the kind of quality jobs we were hoping to create for more San Diegans, and that engagement with international markets could have a significant and positive impact on our region’s diverse small business community. The return of the BA flight is one important step in getting our economy back to full strength.

Read Mark’s full update

By the Numbers

  • 7 newly designated Preferred Providers of Healthcare talent
  • 13% of regional jobs are in Healthcare
  • $790K in MetroConnect export assistance grants awarded to date
  • 19M sqft of available office space in the region

Featured Stories

New and Renewing Investors

  • ASML
  • City of Encinitas
  • City of Oceanside
  • Kilroy Realty
  • Kyocera
  • Manpower
  • Port of San Diego
  • The San Diego Foundation
  • San Diego Workforce Partnership
  • Sanford Burnham Prebys Medical Discovery Institute
  • Sony
  • Systran
  • TaylorMade
  • The Clay Company
  • Marine Group Boat Works

See our current Monthly Report here.

Monthly Report – September 2021

By San Diego Regional EDC,

A note from Mark Cafferty

San Diego’s healthcare workforce accounts for 13 percent of all jobs within the local economy. These more than 186,000 jobs touch the lives of every San Diegan, every day. This has never been more evident than over the last 18 months.

When the pandemic started, I remember hearing my neighbors out in the streets cheering nightly for our healthcare workers. San Diegans jumped into motion to drop off food and other gifts for personnel putting their lives on the line to treat patients across the region’s hospitals. Yet over the last several months, finding anyone acknowledging the contributions and commitments of our healthcare workforce has been much harder to come by. The conversations in the streets outside my home and on my social media feeds have moved on to other issues and topics. Yet the stresses, challenges, frustrations, and weight that we have placed on the shoulders of our healthcare workforce have only grown.

Read Mark’s full update

By the Numbers

  • 6.9% San Diego County unemployment rate
  • 201 businesses assisted year-to-date
  • 9.3K jobs impacted year-to-date
  • 17.7K increase in Q2 employment

Featured Stories

New and Renewing Investors

  • BD
  • Bristol Myers Squibb
  • Burger Construction
  • Clearway Energy Group
  • DPR Construction
  • General Dynamics NASSCO
  • Point Loma Nazarene University
  • Red Door Interactive
  • ResMed
  • San Diego State University
  • Townshend Venture Advisors
  • UC San Diego

See our current Monthly Report here.

Monthly Report – August 2021

By San Diego Regional EDC,

A note from Mark Cafferty

Every two/four years during the Olympic Games we not only see the world’s greatest athletes compete with one another, we also get to see a reflection of the world around them. And sometimes it isn’t pretty or easy to watch…

I am not sure that 20 years from now I will remember who won Olympic gold in 2021 in the long jump, or who started on the basketball or soccer teams—but I know I will remember Simone Biles.

So many people around us are carrying more on their shoulders than we will ever realize. The last 18 months have only added to those burdens and made life more complex for all of us.

By stepping away from the sport when she did, and by acknowledging that the pressure being put on our young Olympians in insurmountable moments, Simone Biles has no doubt modeled behavior that will help those who are approaching their own breaking points. And gold medals and floor exercises aside, it is within these actions and convictions where we find true greatness.

Read Mark’s full update

By the Numbers

  • 7% San Diego County unemployment rate
  • 199 businesses assisted year-to-date
  • 9K jobs impacted year-to-date
  • 116K new San Diego job postings in June

Featured Stories

Investor Recognition

  • Biocept
  • CMTC
  • California State University San Marcos
  • City of Vista
  • Gafcon
  • JONES
  • JPMorgan Chase & Co.
  • MarshMcLennan Agency
  • Cross Border Xpress
  • Pacific Western Bank
  • Rady Children’s Hospital-San Diego
  • San Diego Zoo Wildlife Alliance
  • SENTRE

See our current Monthly Report here.

Monthly Report – July 2021

By San Diego Regional EDC,

A note from Mark Cafferty

Over the last several months, our work at EDC has had to move and change in some significant ways to respond to the economic conditions around us. And while this is always a part of our work and planning, it is safe to say that 2020—and the early stages of 2021—challenged us greatly and taught us a lot about our work and our economy, as it did all of you.

Investors and community partners often ask me what a day or a week at EDC looks like—some are just curious what the actual work feels like on a day-to-day basis; others are interested in knowing what we are seeing and experiencing through the businesses we work with to better understand if their needs and priorities may signal bigger or broader economic trends, challenges, or opportunities for the region.

As always, we do all that we do with an eye on building a stronger, more inclusive economy, producing more skilled workers, creating more quality jobs within our small businesses, and establishing more thriving households and a better quality of life for businesses and residents in all corners of the San Diego region.

Read more from Mark.

By the Numbers

  • 6.4% San Diego County unemployment rate
  • 194 businesses assisted year-to-date
  • 8.9K jobs impacted year-to-date
  • $3.5B economic impact of region’s cybersecurity cluster

Featured Stories

Investor Recognition

  • CBRE
  • Charter Communications
  • City of Carlsbad
  • City of Escondido
  • Evans Hotels
  • Hines
  • HomeStreet Bank
  • Katz & Associates
  • Lowe Enterprises
  • Lytx
  • Newport National Corporation
  • Options for All
  • Padres Pedal the Cause
  • PCL Construction
  • Procopio
  • Qualcomm
  • San Diego Housing Commission
  • San Diego Padres Baseball Club
  • Steinberg Hart
  • Willis Allen Real Estate

See our August Monthly Report here.

Monthly Report – June 2021

By San Diego Regional EDC,

A note from Mark Cafferty

Despite the State of California “reopening” last week, I think I have accepted the fact that things will not truly be back to normal for a very long time; yet at the same time, we see signs all around us that the way of life we all knew before the pandemic is starting to resume. In the months ahead, Team EDC will begin returning to the office much more regularly.

While numerous things have changed about our work at EDC, the regional goals that we set for 2030 remain unwavering. The need to develop more quality jobs within our small businesses, more skilled workers, and more thriving households across San Diego has only become more prominent. Now more than ever, these Inclusive Growth goals must be our guideposts in re-establishing San Diego’s economic resiliency, growth, and well-being.

Read more from Mark.

By the Numbers

  • 6.9% San Diego County unemployment rate
  • 181 businesses assisted year-to-date
  • 8K jobs impacted year-to-date
  • $763.5K median San Diego home price

Featured Stories

Investor Recognition

  • Bridgewest Group
  • Colliers International
  • Dentons
  • Jacobs Center for Neighborhood Innovation
  • Jerome’s Furniture
  • Neighborhood House Association
  • Paul, Plevin, Sullivan & Connaughton LLP
  • Teradata
  • ThermoFisher Scientific

See our July Monthly Report here.