Talent is the cornerstone of today’s global economy. It drives corporate location decisions, encourages innovative urban planning and inspires entrepreneurship. In essence, talent is the key to economic growth. If regions – such as San Diego – want to get ahead, they must have the workforce to compete.
San Diego Regional EDC released “Talent: Where San Diego Stands,” a comprehensive study that contextualizes San Diego’s standing in talent growth and retention with regard to highly-skilled engineering, science and tech talent in nine peer metros including Austin, Denver and San Francisco. By analyzing key factors for firms and site selectors and comparing key characteristics that attract talent, San Diego can better understand how to maintain its competitive edge.
Among peer metros, San Diego ranks…
2nd – percent growth of degree-holding millennials (age 25-34)
1st – concentration of scientific R&D firms and employment
3rd– wages in sciences and engineering jobs
1st – lowest average commute times
2nd – average annual pay for R&D employees at $176,000
3rd – total number of scientific R&D firms
When looking for a place to start or continue a career, talent is demanding change. Infrastructure and creative office design are becoming critical requirements. Innovative workspaces, lifestyle, competitive wages and economic opportunity matter.