Part 1 of 2
SAN DIEGO—Yesterday, the San Diego Regional EDC held an event to discuss results from its recent study "Talent: Where San Diego Stands," which analyzed how San Diego stacks up against peer regions in its ability to retain and grow its talented workforce. Ranked second in growth of degree-holding millennials among peer metros, San Diego is in a unique position to translate its highly-skilled talent pool into a substantial economic advantage.
"Across the country, many economic development agencies and policy makers are focused on attracting companies to their regions. The research tells us that economic developers should be focused on attracting talent instead," said Dr. Mary Walshok, dean of UC San Diego Extension and a key advisor on the study. "The good news is that in San Diego, we are attracting some of the best scientific and tech minds in the country. When it comes to talent growth and attraction, we are punching way above our weight."
The study looks at innovation economy workers—highly-skilled scientific, engineering and tech talent—and compares San Diego to nine major metropolitan areas across the US, including Austin, Denver, San Francisco and San Jose. 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.
John Kilroy, CEO, president and director of Kilroy Realty Corp., (who also owns the building the event was held), said that he loves San Diego. "We have billions invested here and have billions more we would like to do here," he said, but he said that San Diego has a long way to go. He pointed to places like the Bay Area and Seattle and said to look at the kind of environment the talent is demanding.
"The questions I think need to be asked should be directed to the Googles and Facebooks of the world. The questions should be: Why aren't they in San Diego? Would they consider San Diego? If not, why not?"
He told the audience that it is important to talk about those firm's views on San Diego and what it would take to change that view if it were negative.
"It is a talent race. It isn't about the cost of real estate," he said. "Every day, the most important asset you have walks in and out of your building. They have choices. If they don't like how your company is going, they will go work for another company."
One company who is investing in San Diego's talent pool is iboss Cybersecurity. "Like anyone, we love the weather here, but our main motivation for expanding our headquarters and investing in San Diego is the talent pool," said Peter Martini, president of the company, who spoke as one of the panelists at the event.
Ranked by Deloitte Technology as one of the fastest-growing technology companies in North America, iboss Cybersecurity recently completed a $14 million, 43,000-square-foot office renovation in central San Diego after previously considering moving to Austin.
"We are able to recruit top talent from UC San Diego and we have designed our new headquarters to be an innovative office with ample amenities to retain the best people," said Martini.
When looking for a place to start or continue a career, talent is demanding change, the report said. "For many, the traditional 9-5 workday, one-company career is a thing of the past. Work-life balance, inspiring spaces, collaborative environments and opportunity for professional advancement have become requirements—and companies are following through."
Check back with GlobeSt.com in the next day or so for more details from the EDC study.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
