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ECONOMY: Varied Sectors Rely on the The Waterfront Asset
The Port of San Diego is a big wheel in business, an economic dynamo. Companies doing business on San Diego’s tidelands generated $5.4 billion in economic output and sustained 43,627 jobs in 2015, according to a study issued by the port district in December. Figures for 2016 were not yet available.
A UCLA economics professor told an audience in downtown San Diego that Donald Trump’s proposed policies on trade and immigration give him “really, really low” chances of delivering on his promise to create 25 million U.S. jobs during the next 10 years.
Kratos Defense & Security Solutions Inc. named Steve Fendley president of its unmanned systems division, announcing the change on Jan. 17.
Leaders of San Diego’s Green Flash Brewing Co. are not commenting on published reports that the craft beer maker has laid off as many as 25 employees.
Carlsbad-based Callaway Golf Co. announced on Jan. 11 that it acquired Utah-based Ogio International Inc. for $75.5 million cash.
Shares of San Diego-based WD-40 Co. fell more than 10 percent Tuesday after the company’s first-quarter earnings, released Monday, fell short of expectations.
A recent securities filing shows Cohu Inc. is keeping its options open, and might want to raise more funds to finance future business opportunities.
Carlsbad-based Callaway Golf Co. said Jan. 5 that it has signed Daniel Berger to an endorsement deal.
Spain wants it own unmanned Predator B aircraft and has placed a $56.7 million order for them through its partner, the U.S. Air Force, the Pentagon announced Jan. 4.
Economic Trends: Maritime
Opportunities just keep opening up for San Diego’s diverse maritime industry, a sector buoyed not only by the region’s naval power but the increasingly important fields of underwater drones, aquaculture and desalination.
Economic Trends: Manufacturing
Every time Jo Marie Diamond, president of the East County Economic Development Council, runs into a manufacturer’s human resources manager, they tell her they’re struggling to find skilled workers to fill open positions.
Economic Trends: Defense
The defense world is like an aircraft carrier. It can’t turn on a dime. November’s election, however, might signal a big, slow turn. The 2016 election will soon put a new set of decision-makers in charge of the Pentagon. President-elect Donald Trump says he’s for a strong defense. That would seem to please a Republican-controlled Congress — the entity that holds the Pentagon’s purse strings.
Economic Trends: Craft Beer
San Diego County’s craft beer brewers continued to grow their local and global footprints in 2016, even as the U.S. industry overall began to show signs of slowing growth after several years of rapid acceleration in consumer demand.
General Dynamics NASSCO received a $325 million deal to help fund the fifth in a series of U.S. Navy support ships.