World Trade Center San Diego Annual Report 2022

Introduction

 World Trade Center San Diego (WTCSD) , an affiliate of  San Diego Regional Economic Development Corporation (EDC)  and the regional leader on trade and investment, cultivates a pipeline of export-ready firms, maximizes foreign direct investment (FDI) opportunities, and enhances San Diego’s global identity. 

A globally connected economy creates quality jobs, and makes the San Diego region more prosperous, competitive and resilient.

Core Pillars

  • 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.

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.

MetroConnect: Export Assistance Program

15 local companies, selected at the beginning of 2022, are participating in WTCSD's sixth  MetroConnect cohort  . Initially launched in 2015, MetroConnect selects regional export-ready companies through a competitive application process and equips them with the tools they need to access international markets. Participants received a $5,000 grant, translation software, workshops, access to key networks, and more over the course of a year to support their expansion into international markets and boost their exports.

MetroConnect Company Spotlight: Nano PharmaSolutions

Through the MetroConnect program, Nano PharmaSolutions (NPS) has leveraged executive workshops and networking opportunities to boost its profile in the region and secure new agreements. Last month,  NPS entered into an agreement with Mikart , a contract development and manufacturing organization that will allow for the technology to go from preclinical stage to a GMP clinic phase manufacturing capabilities. 

Furthermore, Kay Olmstead, CEO of NPS joined Mayor Todd Gloria and WTCSD on its Thriving Cities Trade Mission to the Netherlands in September and pitched to Dutch investors at the Leiden Bio Science Park, the largest life sciences and health cluster in the country.

“Not only does our NanoTransformer™ technology expedite drug development at a lower R&D cost, but it helps drugs absorb into the body more quickly and efficiently,” said Dr. Kay Olmstead, founder and CEO of NPS. “This is an incredible opportunity to share our story and build partnerships at the famous Leiden Bio Science Park, and we’re excited about what’s to come.”

Export SBDC at World Trade Center San Diego

Due to the success of the MetroConnect program, WTCSD was named the Export Specialty Small Business Development Center (SBDC) within the San Diego and Imperial Valley SBDC Network in 2020. The SBDCs are the largest no-cost technical assistance program of the federal and state government, receiving funding from the SBA and GO-Biz.

While much of the Export SBDC’s efforts in 2020 and 2021 centered on emergency COVID-19 relief, 2022 saw the work slowly transition away from immediate pandemic response to long-term export support.

Exporting Foundations - Video Series

As a way to attract regional companies that are interested in learning more about exporting, the Export Specialty Center produced an 'Exporting Foundations' video series that focused on the basics of exporting, international market entry strategy, and international financing. Export SBDC advisors hosted individual instructional videos to assist potential exporting clients in determining the feasibility of expanding their offerings internationally.

MetroConnect: Grow your San Diego small business internationally

SBDC Company Spotlight: Access Trax

Access Trax, a woman-owned social impact business, aims to make the outdoors accessible for all. It empowers people of all physical abilities to easily access outdoor terrain, such as sand at the beach, with its ADA-compliant portable access mats. 

Access Trax's portable access mats in use.

Access Trax CEO and Co-founder Kelly Twichel worked with Export SBDC advisor Simona Racek to secure a STEP grant and apply that funding towards export expansion opportunities. Grant activities included securing Trademark protection in two major export markets, improving website SEO, testing new markets through digital advertising, and connecting with foreign distributors through the U.S. Commercial Service’s Initial Market Check program.

Overall, Access Trax increased export totals from 11 percent of total revenue to 21 percent through Export SBDC advising and STEP grant funding.

Foreign Direct Investment (FDI)

Priorities:

  • 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. 
  • Enhance the San Diego region’s reputation and visibility to underpin investment retention and attraction efforts, as well as global connectivity goals.

FDI Company Spotlight: Silvent

Sweden-based  Silvent  develops innovative, energy-efficient products to optimize leading manufacturers’ compressed air use. With an eye on California and Mexico as target markets, the company needed assistance selecting and opening its West Coast office. Understanding the company’s need to be close to its customer base, WTCSD made the case for Silvent to locate its West Coast office in the region, which could serve as a hub for its Greater Los Angeles customers as well as the manufacturing cluster in Baja California.

Once the decision to locate in San Diego was made, WTCSD gathered appropriate site options and connected Silvent to resources to recruit homegrown talent. WTCSD also shared information on a variety of business incentive and talent programs, and connected the Silvent team to partner organizations like Connect and California Manufacturing Technology Consultants for specialized industry support.

As suggested by WTCSD, Silvent chose to open its West Coast office at La Jolla’s WeWork building in June 2022. After hiring five full time business development employees, the company plans to continue its regional expansion as it strengthens its position in the California and Mexico markets.

Binational Spotlight

In 2022, WTCSD partnered with  ITJ  to host Tijuana Tech Tours with the goal of showcasing efforts in building a binational tech hub for life sciences and healthcare innovation. Additionally, WTCSD has worked closely with its partners at Tijuana EDC to highlight the advantages of setting up manufacturing operations south of the border. WTCSD has renewed its focus on promoting opportunities available to companies in both San Diego and Tijuana to strengthen the economic well-being of the entire region.

FDI: By the numbers

Global Identity

Thriving Cities Trade Mission to the Netherlands

After three years of pandemic-related travel limitations, WTCSD hit the road again with Mayor Todd Gloria and 29 of the region’s most influential and collaborative business, academic, political, and civic leaders. This delegation carried the San Diego banner in one of the world’s leading metros for innovation and circular urban development—the Netherlands—a country engineered out of the sea.

During the September 26—29 trade mission, business and civic leaders promoted San Diego’s key industries, established and strengthened business relationships, and explored best practices in urban mobility, climate action and sustainability, and technology and science innovation.

Trade Mission Activities:

Collaboration with Port of San Diego

WTC partnered with the Port of San Diego to promote exporting opportunities out of its cargo terminals. In April, WTC moderated a panel at SBA Day in El Centro. Port of San Diego representatives participated in the panel discussion and were introduced to the exporting community in Imperial County.

Following this in-person event, WTC hosted a webinar with interested exporters from San Diego, Imperial County, Greater Yuma, and Baja California. A group of 5 companies was invited to participate in a roundtable at WTC's office to engage with the Port of San Diego maritime business development team. At this meeting, specific cargo volumes and destinations were discussed, to better inform pitches to carriers and vessel operators.

Global Competitiveness Council (GCC)

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. 

In 2022, the GCC held quarterly meetings focusing on WTCSD's mayoral trade mission to the Netherlands, the ratification of the CHIPS Act and its implications on San Diego business, an update from Congresswoman Sara Jacobs on the war in Ukraine, and pitches from current MetroConnect companies.

WTC San Diego Stakeholders

WTC San Diego Board of Directors

Global Competitiveness Council

Founding Partner Appointees

Council Members

WTC San Diego Founding Partners

Blogs

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

Access Trax's portable access mats in use.