Part 2 of 2

SAN DIEGO—On Thursday, as GlobeSt.com reported, 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. According to the report, San Diego is adding degree holders at higher rates than many peer metros, although it lags in measures such as degree attainment.

EDC's analysis dispeled myths about San Diego's talent pool and innovation economy. Chief among them is the notion that the region lacks a depth of opportunities. However, the study concluded San Diego ranked third among peers in total number of scientific R&D firms.

"We often hear about the 'second job problem,' but this study shows that workers in San Diego have options. There are numerous startups and mid-sized firms hiring – and San Diego is adding more every day," said Mark Cafferty, president and CEO of San Diego Regional EDC.

Although San Diego is tracking well in workforce metrics, the region must deploy strategies to maintain its competitive edge, the study said. As a way to compel regional leaders to take action, the study calls for implementation of best practices, including streamlining internship opportunities, building San Diego's identity through digital tools and events such as Comic-Con, implementing creative zoning policy and scaling existing programs such as Qualcomm's Thinkabit Lab.

EDC's study was sponsored by iboss Cybersecurity and Kilroy Realty Corp. with additional support from CBRE.

Key findings from the study include:

San Diego is adding degree holders at higher rates than many peer metros, although it lags in measures such as degree attainment

  • Added more than 72,000 degree holders in 2014 alone – more than any other major metro area
  • Ranked 2nd – percent growth rate of degree-holding millennials (age 25-34)

Ranked 8th – percent population of millennial degree-holder

The region has one of the most experienced and loyal workforces

  • Experienced professionals ages 45+ make up a larger share of San Diego's talent base than peers
  • Ranked 1st – lowest turnover rate in tech and scientific R&D

San Diego offers employees a strong quality of life, more opportunities and higher wages than most peers

  • Ranked 2nd –average annual pay for R&D employees ($176,000)
  • Ranked 1st – concentration of scientific R&D firms and employment
  • Ranked 3rd – wages in sciences and engineering jobs
  • Ranked 1st – lowest average commute times

The region has a diverse talent pool

  • More than 22% of San Diegans speak another language besides English, making San Diego third among its core peers and well above the peer and national averages

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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.

Economy
San Diego