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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 2^nd – percent growth rate of degree-holding millennials (age 25-34)

Ranked 8^th – 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 1^st – 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 2^nd –average annual pay for R&D employees ($176,000)
Ranked 1^st – concentration of scientific R&D firms and employment
Ranked 3^rd – wages in sciences and engineering jobs
Ranked 1^st – 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

Instant Insights /

San Diego Doesn't Have 'Second Job Problem'

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