SAN DIEGO—San Diego has the third-lowest commute time among its peer metros, but commitment to transportation infrastructure would help accommodate job growth, San Diego Regional Economic Development Corp.'s chief operating officer Lauree Sahba tells GlobeSt.com. Sahba will be presenting a keynote address on the state of San Diego to kick off RealShare San Diego on Nov. 15; the address will explore the current state of the San Diego market from an economic and infrastructural perspective and consider the factors that are driving San Diego's CRE market, as well as outlining the opportunities to help San Diego grow as a city economically, talent wise and as a global identity.

We spoke with Sahba about San Diego's economy, the market disruptors she sees affecting this market the most and how San Diego could improve its infrastructure to grow economically.

GlobeSt.com: What makes San Diego a unique market, economically speaking?

Sahba: Most places might have one or two economic drivers. San Diego has three major industries that drive our economy: innovation, fueled by our region's highly-educated and talented workforce; tourism, capitalizing on our geography and rich culture; and defense, represented by the largest concentration of military assets in the world. San Diego's innovation economy is diverse and robust. We are market leaders in life sciences, information and communication technologies and aerospace/defense technologies. Over the last decade, these industries have accelerated growth in cybersecurity, software development, biotech and cleantech. And more recently, they have catalyzed development in unmanned systems, robotics, machine learning, genomics, medical devices, IoT and more—putting San Diego at the forefront of next-generation technology and innovation. San Diego also has access to a cross-border workforce with skills to support a sophisticated manufacturing industry and an emerging software hub, which could pay huge dividends in the coming years given the global demand for STEM talent.

GlobeSt.com: Which market disruptors—i.e., technology, e-commerce, Airbnb, co-working—do you see affecting San Diego in particular, and how?

Sahba: Data shows that worldwide, 49% of time spent on work activities could be automated with existing technologies. San Diego's intellectual capacity in robotics and unmanned systems will inevitably impact the region, as well as metros across the globe. It's difficult to guess how that will play out, but we know it will impact retail, manufacturing and goods movement. There are lots of other examples. For instance, San Diego-based companies have developed water technology that is deployed worldwide. That technology could help solve our state's water shortages and impact sustainability.

GlobeSt.com: Which infrastructure improvements could help San Diego grow economically?

Sahba: Regional economic success is directly dependent on an efficient transportation network. Right now, San Diego has the third lowest commute time of only 26.1 minutes when compared to our peer metros. By 2021, San Diego Trolley's UC San Diego Blue Line will extend from the Mexico border to the campus. Recently, the San Diego Association of Governments, CALTRANS and the City of Chula Vista were selected by the Department of Transportation to become one of 10 designated proving grounds for autonomous vehicles in the nation. With a continued commitment to transportation infrastructure, the region can accommodate job growth.

GlobeSt.com: What other factors are driving San Diego's CRE market?

Sahba: Talent is the heart of San Diego's economic engine. San Diego's unparalleled quality of life, combined with career opportunities in leading-edge industries, has attracted a highly skilled and experienced workforce. When compared to our peer metros, San Diego ranks second for growth rate of degree-holding Millennials and concentration of workforce in science and engineering jobs. We have one of the most stable, seasoned workforces in the country—and we have less turnover than our peer metros. And we know that companies grow where they find talent—it's the single most important factor for innovation-based companies.

However, like every metro region in the country, we face a STEM-talent deficit. There is a nationwide battle for the best and brightest talent, and San Diego must do all that it can to grow and retain its talent pool. Research has shown that San Diego ranks high when it comes to economic and livability factors, yet the perception that it's a laid-back beach town has negatively impacted our ability to attract and retain talent. This is why EDC—with the input of more than 90 companies—has launched the San Diego: Life. Changing. Companies can now help raise the region's profile and showcase all that sets San Diego apart from other regions. The website SDlifechanging.org provides a toolkit of information, imagery and authentic stories demonstrating San Diego's attributes and amenities to recruit talent. It's also the region's first one-stop-shop for talent looking to relocate to San Diego. We're an impact-driven region, and the world needs to know about it.

Instant Insights /

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