World Trade Center San Diego Annual Report 2020

Introduction

 World Trade Center San Diego (WTCSD)  is operated by  San Diego Regional Economic Development Corporation (EDC)  as the regional leader on trade and investment. A globally connected economy creates quality jobs, and makes the region more prosperous, competitive and resilient.

WTCSD cultivates a pipeline of export-ready firms, maximizes foreign direct investment (FDI) opportunities, and enhances San Diego’s global identity.  

COVID-19 Support

In response to the pandemic, WTCSD team temporarily broadened its services to triage and assist SMEs from all industries– not just those interested in exporting – helping 180 businesses navigate access to aid programs.  

WTCSD quickly adapted to meet the changing needs of San Diego businesses in the midst of COVID-19. With and through the  San Diego and Imperial Small Business Development Center (SBDC) , the WTCSD team pivoted the organization's work to provide free of charge, one-on-one consulting services to small and medium businesses in COVID-19 relief and export consulting. The team has assisted more than 180 businesses in navigating the resources available and connecting business owners to programs such as the Economic Injury Disaster Loan, Pandemic Unemployment Assistance, Paycheck Protection Program, City of San Diego relief funds, and many other programs aimed to address pandemic-related economic distress. Collectively the WTCSD team has supported companies in raising $2.4 million dollars in relief funding.

SME Support by the Numbers

Exports

Priority: Cultivating a pipeline of globally competitive local firms boosts exports, strengthens industry clusters that draw foreign investment, and generates impact throughout the regional innovation ecosystem.

This year, 15 local companies were selected to participate in WTCSD's  MetroConnect program . Launched in 2015, MetroConnect is a region-wide export assistance program in which local companies are selected through a competitive application process. MetroConnect arms local, export-ready businesses with the tools they need to access international markets. Participants received a $5,000 grant and programmatic resources over the course of a year with the goal of helping them access international markets and boost their exports.

Export-Company Support by the Numbers

SBDC Export Specialty Center at WTCSD

 SBDC  has contracted with WTC San Diego in a unique partnership that will bring an Export Specialty Center to the region, housed at WTCSD. The dedicated center will focus on small business export advising and training that serves to increase the number of export-ready firms in the region.

“By formalizing this partnership with WTCSD, the SBDC network now has a dedicated center focusing on export issues and advising here in San Diego and Imperial County. Exporting makes companies stronger and more resilient—especially important amid an economic downturn spurred by COVID-19,” said Daniel Fitzgerald, Associate Regional Director, SBDC

Foreign Direct Investment

Priority: Maximize foreign investment opportunities for the region by building and institutionalizing linkages with strategic markets abroad, as well as better leveraging local companies, partners and assets. 

COVID-19 and Impacts on Corporate Travel

As a key partner to San Diego International Airport (SAN), WTCSD works to improve regional competitiveness and bring flights back to San Diego in a post-COVID world with a focus on business travel and economic activity. WTCSD supports SAN's international carriers Lufthansa, Japan Airlines, Air Canada, British Airways, Edelweiss and WestJet through programmatic assistance and market intelligence on San Diego's business landscape.

In support of SAN’s efforts, WTCSD launched a corporate travel survey in 2020 and conducted interviews with local business leaders to ensure SAN is aligning the needs of the business community with their comprehensive recovery strategy. In 2021, WTCSD will relaunch the survey and analyze corporate travel impacts of COVID-19 and strategize around the new business needs.

Key takeaways

  • 52% of companies have not cut travel budgets for 2021
  • 64% anticipated increased support in local businesses and economy
  • 76% of companies expect for domestic U.S. travel to resume within the next six months

“The shutdown has caused unprecedented disruptions to trade and travel, but we know access to global markets is an essential part of our regional recovery. Nonstop international service is correlated with an average 20 percent increase in investment flows between destinations, which is why retaining global service out of SAN—and being intentional about how we fly—should be one of our region’s highest economic development priorities,” said Nikia Clarke, Executive Director, WTCSD

Global Identity

Priority: Enhance the San Diego region’s reputation and visibility in order to underpin investment retention and attraction efforts as well as global connectivity goals.

Go Global: San Diego's Trade and Investment Initiative

In 2015, as part of a strategic partnership with the Brookings Institute- and in consultation and collaboration with regional stakeholders, WTCSD released its " Go Global: San Diego’s Global Trade and Investment Initiative ". The trade and investment strategy provided the framework for the relaunch of the region’s World Trade Center, under San Diego Regional EDC, with a revitalized mandate to cultivate a pipeline of export-ready firms, maximize foreign investment opportunities in strategic industries, and better connect San Diego to the markets that matter most for competitiveness and growth.

Five years later, we continue to work through a global pandemic, grapple with the ensuing economic crisis, and look toward a recovery that will require much from us as a region. WTCSD will be refreshing this regional strategic plan focusing on how thoughtful and intentional global engagement can serve as an engine of recovery and resilience. This interactive report, scheduled for release in 2021, will feature new data and analysis of export and investment trends, executive interviews, and qualitative intel on corporate decision making and infrastructure investment and recommendations for leveraging current trends into long term opportunities for regional growth. 

WTC San Diego Stakeholders

WTC San Diego Board of Directors

Global Competitiveness Council

The Global Competitiveness Council (GCC) is a group of senior business, academic, government, and civic partners that drives a comprehensive regional global engagement strategy and seeks to position San Diego as a thought leader on issues related to trade, investment, and competitiveness. The GCC advises on WTCSD programming; generates public support, financial resources, and coordination mechanisms for the broader initiative; and issues periodic trade and investment policy recommendations on behalf of the region. 

Founding Partner Appointees

Council Members

WTC San Diego Founding Partners

Looking Ahead

  • Exports: Supporting exporters creates quality jobs and builds resiliency in small businesses. WTCSD grows regional exports by facilitating sustainable connections to customers and markets for local firms.
  • Investment: Foreign investment strengthens competitive industry clusters and enables the expansion of local companies. WTCSD assists investing companies and supports international air service expansion
  • Global Identity: A strong global reputation for innovation makes the region more competitive and connected. WTCSD communicates the impact of global trends on the regional economy and stewards relationships with the markets that matter most for growth. 

Blogs

To learn more about World Trade Center San Diego,  visit our website .