Stories for August 2011
Wednesday, August 31
The downtown Hilton San Diego Bayfront hotel has received a Four Diamond rating from AAA, formerly known as the American Automobile Association, hotel operators announced Aug. 30.
Tuesday, August 30
San Diego’s economy could be rebounding; it registered a two-tenths of 1 percent uptick in July, according to an index of six measures compiled by the University of San Diego’s Burnham-Moores Center for Real Estate.
Monday, August 29
Cubic Corp. said Aug. 29 that it received a $13 million task order to begin full production of its Tactical Vehicle System, to be used in U.S. Army war games.
San Diego Gas & Electric Co. closed a $350 million public offering of 10-year first mortgage bonds paying 3 percent annually
BANKING: Shareholders Gave Approval Aug. 23; Regulators Weigh in Next
Shareholders of struggling Coronado First Bank overwhelmingly approved the sale of the bank to downtown San Diego-based Embarcadero Bank for $9 million
TRANSPORTATION: New Dealership Sells Jaguars, Lotuses, Aston Martins
In a move that’s betting on a rebounding economy, San Diego European Motorcars Ltd., which deals in Aston Martin, Jaguar and Lotus, has opened for business in Kearny Mesa.
The Oceanside Museum of Art held its OMA Summer Soiree July 23 at the Central Pavilion and on Pier View Way.
HOSPITALITY: Chick-fil-A Takes Selective Approach To Granting Franchises
With more than 1,500 U.S. restaurants, Atlanta-based Chick-fil-A Inc. has developed a large and loyal following for its chicken sandwiches, with throngs of aficionados camping out hours in advance of location debuts.
HEALTH CARE: Firms Trying To Understand How Reforms Will Impact Their Bottom Lines
If anyone could predict how President Barack Obama’s health care reform law is going to affect San Diego companies’ bottom lines, it might be Craig Gussin.
Peter Adamo has served as administrator for Alvarado Hospital Medical Center since May 2011.
HEALTH CARE: Demand For Services Helps Support Growth of Local Facilities
When it comes to fighting cancer, San Diego is becoming a force to be reckoned with.
RETAIL: Customers Flocking To Stores to Buy, Sell Jewelry, Coins; Economic Fears Mount
As the price of gold continues skyrocketing in tandem with a spate of negative financial news, Leo Hamel and other jewelers around the county have seen a noticeable surge in customers.
PLANNING: Creating Districts That Attract Innovation a Key, Some Say
San Diego developer Pete Garcia says he learned about the power of clustering when he developed the Hybritech biotech campus at Torrey Pines in 1980.
Dowling & Yahnke LLC, celebrating its 20th year in business as independent financial
ACQUISITION: $610M Deal Reunites Practices; Business Goes on as Usual
McGladrey & Pullen LLP, the fifth largest accounting firm in the nation, said it’s buying back its tax and consulting unit called RSM McGladrey Inc. from H&R Block Inc. for $610 million.
TECHNOLOGY: Qualcomm Inc. Enters The Pet Products Field
Back in the 1980s, very early in its history, Qualcomm Inc. went to market with a system for truckers.
Imagine going to 10 funerals a day for 66 days to remember and honor 658 people who lost their lives in a disaster.
San Diego-based Sunroad Enterprises is the latest developer making plans to serve what is expected to be a burgeoning population of shoppers in South County and the Tijuana region.
BIOTECH: Firm Also Gets OK for Use of Technology In Other Applications
August has been a huge month for San Diego-based Apricus Biosciences Inc.
Welcome to America! But now that you’re here, buy American! Steve Wagner, owner of La Jolla-based Outdoor Insight
DEVELOPMENT: Pending Project Could Also Boost National City’s Downtown
Rising demand for local apartments is helping nudge forward some long-discussed plans to revitalize National City’s downtown, which stalled when the recession hit.
San Diego-based T.B. Penick & Sons Inc. has completed construction on the $9.4 million design/build Patrick Wade Child Development Center
San Diego County Credit Union, the largest in the county with $5.2 billion in assets, grew in profits, size and deposits for the first half, but its loan portfolio shrank.
U.S. Army tank mechanics will get to know their jobs better with the help of San Diego-based Kratos Defense & Security Solutions Inc.
Health care: Industry Deals With Compensation, Electronic Records Issues
Several organizations on the San Diego Business Journal’s Medical Groups list are expanding as they grapple with issues from the uncertainties of health care reform
BIOTECH: Company’s Investors Are Already Sold on the Device
Tandem Diabetes Care Inc., a San Diego medical device company that’s seeking FDA clearance for a sleek insulin pump
RETAIL: Headquarters to Remain Local But Growth Expected in San Antonio
Petco Animal Supplies Inc. is expanding its corporate staff at the expense of San Diego. This year, the nation’s second largest pet food retailer behind only PetSmart Inc.
Friday, August 26
Awarepoint Corp., a San Diego firm that makes hardware and software to help hospitals track assets and patients, said Aug. 24 that it obtained $27 million in venture capital financing led by new investor and Silicon Valley heavyweights Kleiner Perkins Caufield & Byers.
Thursday, August 25
Student entrepreneurs from both high school and college can stand up and be recognized by taking part in the Global Student Entrepreneur Awards presented by the Entrepreneurs’ Organization. A San Diego competition set for Sept. 27 in La Jolla leads to regional and national meets.
Wednesday, August 24
The “Reboot” program, which helps veterans make the sometimes difficult transition from the military culture to civilian life, has received a $250,000 grant from the Gary & Mary West Foundation.
Shareholders of Coronado First Bank overwhelmingly approved the sale of the struggling bank to Embarcadero Bank on Aug. 23 for about $9 million in a stock and cash deal that looked like it was on the rocks several weeks ago.
Tuesday, August 23
About 62,000 union grocery store workers in Southern California remain at their jobs for now until leaders and management sit down again with a federal mediator beginning Aug. 29 to negotiate parts of a new contract.
Monday, August 22
Dowling & Yahnke LLC, celebrating its 20th year in business as independent financial advisers in Carmel Valley, said Aug. 22 it was ranked No. 48 nationally by Investment News, the industry’s trade publication, as the largest advisory firm ranked by assets under management.
HEALTH: Gyms Make Vacated Retail Space Part of Expansion Plans
Vacated big-box retail spots have recently become venues for exercise club chains, such as 24 Hour Fitness USA Inc. and Crunch Fitness, to flex their growth muscles in San Diego County.
California MedTech, a Rancho Bernardo company that develops and manufactures products for some of the area’s largest medical device companies, has been acquired by BIT Cos., based in Germany, for about $33 million.
MARKETING: Franchise Snack Business Is Already Operating in 20 States
These days former Chicago-based ex-pinball executive Jolly Backer is tapping into efforts to make healthy snacks including fruits and fruit drinks available in local schools, as well as health clubs, hospitals and office buildings.
REAL ESTATE: Capital Is Still Key to Capturing the Bargains; Credit Crunch May Hurt Others
Local property investment experts say the recent Standard & Poor’s downgrade of U.S. government debt will likely trim the overall ranks of financing sources to get deals done, and slow down the recent pace of price appreciation on attractive commercial properties.
In the world of banking, capacity or size definitely matters. These days, many smaller lenders, generally those below $500 million, are having trouble finding qualified borrowers. But for those above $1 billion, apparently there’s plenty of action.
ENERGY: Solar Panel Installer Had to Please Coastal Commission
The iconic Salk Institute for Biological Studies in La Jolla has embarked on a sweeping $26 million energy retrofit project that includes covering virtually all of its rooftop space with more than 2,300 solar panels and replacing its original electrical and mechanical gear, which dated back to the early 1960s.
BANKING: Nation’s Second Largest Lender Planning Extensive Expansion in State
At the end of his weeklong bus tour of his company’s western outposts Aug. 12, Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., told a throng of cheering employees at a Rancho Bernardo corporate center they’re doing a great job and to keep up the good work.
BIOTECH: Investment Rises 16 Percent From Second Quarter of 2010
It appears that venture capital funding in San Diego’s life sciences sector is gaining steam, at least based on the second quarter MoneyTree Report that tracks investments made in local companies.
REAL ESTATE: Investors Betting on Limited Land And a Growing Demand
San Diego firms focused on the multifamily sector, including Wermers Cos. and Garden Communities Inc., are among those likely to be kept busy with projects in coming months, as the region continues to experience tight supply amid rising demand for apartments among renters and property investors.
PRODUCTION: No Disruption Planned for Local Facility, Employees
Solar Gard Specialty Films, a San Diego based maker of window films which had its beginnings here in 1977, agreed to be sold to an Ohio division of Saint-Gobain Group of France for an undisclosed price.
MEDICAL DEVICES: FDA’s Processes Strain U.S. Product Launches; Markets Found Abroad
“All of our products launch in Europe first,” said Scott Huennekens, president and chief executive officer of San Diego-based Volcano Corp., whose products include catheter-based imaging and ultrasound systems that doctors insert into patients to view the inside of arteries. “The FDA’s approval times are taking much longer, trials are becoming more costly and, most importantly, the process is becoming harder to predict.”
Union Bank pledged $300,000 to the San Diego Public Library Foundation to support construction of the new Central Library which is scheduled to open in 2013.
San Diego is familiar with things nautical, and so it’s a natural to depict next year’s mayoral campaign as a boat race.
The local wheels of justice turn slowly and it might get even slower in the coming months, despite the great work of the professionals in the San Diego Superior Court. Our local court system absorbed an $11.6 million reduction in operating funds this year. That was awful, but next year is going to be, well, awfuler.
Especially since the recession hit, downtown San Diego has been a problem spot when it comes to filling retail spaces, with a vacancy rate far above the overall region’s rate of just over 5 percent.
TRANSPORTATION: Negotiators Hammer Out $345M Purchase Price
Buying the county’s only toll road from its private owners seems to be a good business deal to Jerome Stocks.
RETAIL: Low Interest Rates Fuel Optimism; Industry Ads Abundant
La Mesa auto dealer Bill Drew says he may just reach $125 million in sales this year.
It is imperative for businesses, community organizations, and government to work with one another in a weak economic climate to build a strong regional economy.
Friday, August 19
San Diego’s unemployment rate rose to 10.5 percent in July, up from a revised 10.4 percent in June as the region lost a net 6,000 jobs in the month and more job seekers were in the market, according to the state Employment Development Department’s Aug. 19 report.
San Diego Gas & Electric Co. closed a $350 million public offering of 10-year first mortgage bonds paying 3 percent annually, the company said Aug. 18.
Thursday, August 18
In order for America’s Finest City to become the World’s Most Innovative City, San Diego city government must lead by example.
San Diego-based Sunroad Enterprises announced Aug. 16 that it plans to build a 500,000-square-foot retail center in Otay Mesa.
Petco Animal Supplies Inc., the retail pet food purveyor based here, updated its logo adding the word “healthy” to its tagline. The slogan now reads, “where the healthy pets go,” the company said Aug. 17.
Wednesday, August 17
The World Trade Center San Diego will host a free event Sept. 8 to mark the 10th anniversary of the terrorist attacks on New York and Washington, D.C.
Tuesday, August 16
MIG Real Estate, an investment firm based in Newport Beach, has acquired a portfolio of four San Diego office properties for approximately $56 million, the company announced Aug. 15.
Del Mar Datatrac Inc., a maker of software used by some 200 mortgage lenders, was acquired by Ellie Mae, a Pleasanton public company for $17.2 million in cash plus $8 million in future cash payments over three years, the companies announced Aug. 16.
Monday, August 15
Renaissance Towne Center, a neighborhood retail center in San Diego’s University Towne Centre submarket, has been sold for $23.8 million.
Security Business Bank opens its fourth office Aug. 15 in Escondido at 800 La Terraza Blvd. in the Auto Club building.
EDUCATION: Online Classes Clicking With Professionals
A few years ago, Scott Williams realized his time with the U.S. Navy was coming to an end. He knew he would enter the civilian workforce without a bachelor’s degree, so he set out to rectify that by going online.
SCIENCE: Biomimicry Is Basis for Biomatrica’s Preservation Technology
Big, energy-sucking freezers are a standard sight in practically every biomedical research lab around the world. A San Diego company hopes to change that.
MEDICINE: Pharma Giant, School Enter $50M Drug Development Partnership
In a bid to fast track the discovery and commercialization of promising new drugs, pharmaceutical giant Pfizer Inc.
Mystery spots? KFI 640 afternoon hosts John and Ken interviewed business-focused mayoral candidate, San Diego City Councilman Carl DeMaio Aug. 4.
CONSTRUCTION: Cumming Shifts U.S. Headquarters From Orange County to San Diego
Construction project and cost management firm Cumming Corp. has moved its national headquarters from Orange County to San Diego, citing a steady influx of work in the industries where it has managed to carve out a niche in a still challenging climate.
Big plans are on the drawing boards to refurbish two iconic plazas with deep ties to San Diego’s history, although the future of one of those projects is far from certain.
RETAIL: Leveling Off Of Absorption Seen as a Sign Sector May Be Stalling
Like its rivals large and small, Westfield Group has been stepping up efforts to get shoppers into its seven San Diego County malls amid what continues to be a fragile economic recovery for retailers — made more so by the latest economic upheavals.
Craig and Rebecca Irving hosted the 3rd annual Naval Special Warfare Family Foundation event raising $200,000 to support active-duty U.S. Navy SEALs and their families.
News and notes from communities around San Diego County
The San Diego Association of Governments has put a price on the South Bay Expressway, and it is $345 million. That is the amount the association has offered for the lease to operate the 9-mile-long stretch of highway that runs north from Otay Mesa, through the eastern portion of Chula Vista and into Spring Valley. It is the only toll highway in San Diego County.
Jason Kulpa is the founder and CEO of Underground Elephant, a performance-based online marketing company that specializes in providing customers to large ticket service providers.
TECHNOLOGY: Independa Product Provides Games for Seniors, Key Data to
Keeping tabs on aging parents can be a difficult balancing act.
HEALTH CARE: Companies in Talks With Nonprofit About Data That Could Lead to New Drugs
Local venture capital firm executive Laura K. Shawver knows the business of cancer almost too well. When she was president of Sugen Inc., a San Francisco-based biopharmaceutical company now owned by Pfizer Inc., she spent years developing the well-known drug Sutent to treat advanced kidney cancer and a rare type of stomach cancer.
FINANCE: Encore Capital Group Expanding Locally and Abroad As Collection Efforts Pay Off
Encore Capital Group Inc., a San Diego collector of charged-off credit card debt, has been doing such brisk business recently it’s expanding both here and at its India satellite office.
Do you want to have a glimpse into what I see as the future of the San Diego entitlement process for most development projects?
FINANCE: Deal Excludes Chief Executive’s Role; It’s Worth Nearly $9M
Embarcadero Bank is sweetening its offer to buy Coronado First Bank with $300,000 in cash
HOSPITALITY: Defaults Decline as Occupancy, Room Rates Trend Up
San Diego-based Pacifica Host Hotels was among several buyers that went shopping for properties in the first half of 2011, as the hospitality industry’s performance and financing fundamentals improved significantly from a year ago.
SALES: Company Aims For Understanding of Customers’ Businesses
The thing about office supplies is while it may appear simple and easy on the surface, it’s really not, says Mike Kravtsov, whose company Keen Office launched here in April.
Public Relations: Longtime P.R. Rivals Share Common Bond
The empty dirt fields of University City turned out to be pay dirt for Sara Katz and Jan Percival Lipscomb.
FINANCE: Some Firms Increase Staffing, Search For More Opportunities
Businesses on the San Diego Business Journal’s Mortgage Companies list have confidence in their ability to grow amid a mixed climate of low interest rates and increased regulation.
Liberty Station, a mixed-use development on the site of the former Naval Training Center, was recently awarded the prestigious international 2011 Prix d’Excellence Award.
Keeping tabs on aging parents can be a difficult balancing act. You have to respect their independence while making sure they’re socially engaged and staying healthy. And if you don’t live nearby, the task is even more complex.
Breaking news from www.sdbj.com
Got a science- or tech-based company that needs cash? Got a pitch suitable for a long elevator ride (that is, two minutes)?
California Bank & Trust reported second-quarter net income of $38.9 million, up from $14.3 million in the like quarter of 2010.
Friday, August 12
The San Diego Convention and Visitors Bureau, a nonprofit agency that promotes local tourism and is also known as ConVis, is moving this month into new quarters at Symphony Towers, a downtown office building owned by Newport Beach-based Irvine Co.
Got a science- or tech-based company that needs cash? If so, the people putting together the fifth annual San Diego Quick Pitch competition want to hear from you.
Thursday, August 11
Regents Bank, based in La Jolla and with five branches, reported second quarter net income of $262,000, compared with a net loss of $927,000 for the like quarter of 2010.
Wednesday, August 10
UC San Diego’s Rady School of Management has received accreditation from AACSB International, aka the Association to Advance Collegiate Schools of Business.
The Port of San Diego has approved a $1.6 million contract with Arcadis US Inc., under which the Colorado-based firm will provide construction and project management services for the first phase of renovations to the North Embarcadero district.
Bank of Southern California, based in Carmel Valley and with six branches, said it raised $3.1 million in new capital through a private stock placement.
Tuesday, August 9
Sempra Energy reported on Aug. 9 that it had second quarter net profit of $511 million, up from $277 million for the like quarter of 2010.
Monday, August 8
Businesses understand that the cost of the water needed to work and live in this arid region is, in part, beyond their control.
REAL ESTATE: Infill Projects Put Emphasis on Walking and Mass Transit
After a long economic drought, local residential and commercial developers are moving forward with green-minded projects geared to cutting energy use, reducing pollution-causing car trips, and averting sprawl by rehabilitating sites within established urban centers.
FINANCE: Leases and Grants Make Solar Energy A World Unto Its Own
MCA Housing Partners LLC, a Gardena-based affordable housing developer, is big on solar power generation systems.
ENERGY: Competition For Investment, Grants Increases in the Industry
San Diego’s biggest players in the algal biofuel space have already proven that oil derived from algae can be used for fuel that works in the gas tanks of today’s cars, boats and jets. But there’s still a major question looming: Is it possible to produce this type of biofuel at a scale that makes it price-competitive with gas at the pump?
ENERGY: Businesses, Federal Funding Help Expand Infrastructure
In coming months, San Diego County could see a dramatic acceleration in the growth of its electric-vehicle infrastructure
The green economy has produced more “green” for law firms, too.
Drugstore giant Walgreen Co. is among several national retailers that recently put San Diego County in the forefront of efforts to green-up their stores and operations.
Ann Tartre is the executive director of the Equinox Center, a nonpartisan, not-for-profit policy, research and communications organization focused on how the San Diego region can achieve a more prosperous economy, healthy environment and outstanding quality of life for all its residents.
BIOTECH: Big Business Takes Note of Verdezyne; E. Coli Meets Its Rival
Many people think of yeast in terms of food and drink. With bread and other baked goods, it acts as a leavening agent, converting sugars into carbon dioxide and causing dough to rise. When used in the fermenting process for beer, wine and liquor, it converts sugars into alcohol.
A new four-story building being built in the heart of the San Diego Mesa College campus that will house classrooms, laboratory space and offices for the departments of biology, chemistry, mathematics and physical sciences.
GREEN: Consultants, Energy Suppliers Profit From Need for Change
Companies on the San Diego Business Journal’s Environmental Consultants list and Alternative Energy Suppliers list are holding down a respectable amount of work for some significant clients and in some cases are even expanding.
GREEN: Mild Climate, Good Infrastructure Give The Cars a Fine Start
There’s lots of talk in San Diego about the future of electric vehicles, especially since it is a city with a reputation for embracing all things green. The discussion often revolves around the countywide infrastructure of electrical-vehicle charging stations that’s in development, with at least 1,000 charging stations popping up in parking lots and along city streets by the end of the year and the potential for hundreds more.
Frank Dudek is founder and president of the eponymously named Encinitas-based environmental and engineering services company: Dudek.
The U.S. Navy is making changes at its shore bases to conserve resources
ENERGY: $3B Investment Strategy Helps Company Achieve Renewables Goals
When it comes to developing new sources of renewable energy, few companies can match Sempra Generation.
DEFENSE: Industry Seeks Green Alternatives To Petroleum Products
Algae — humble, oily and green — might have a secret identity.
ENERGY: $3.5B Program Could Ultimately Save Money, Utility Maintains
San Diego may have more solar cells and electric vehicles per capita than any place in the country
The San Diego Foundation’s newest environmental initiative, the Climate Initiative, was awarded a $75,000 grant from the Qualcomm Foundation.
Clean-tech to the rescue? The Census Bureau issued a report on the poor health of very small businesses in the nation from 2007 to 2009
San Diego's green economy sector is strong, diverse and growing. Recent reports by Sandag and The San Diego Foundation have measured the sector’s recent job growth and the positive economic impacts to our local economy.
CONSTRUCTION: Renovation Creating 1,000 Jobs; $146.8M in Contracts Going to Area Firms
Airport officials say the $1 billion “Green Build,” the largest renovation project in the 80-year history of San Diego International Airport
With our innovative culture and strong base of scientists and entrepreneurs, San Diego is naturally fertile ground for emerging business sectors.
CLEAN-TECH: Estimated Numbers of Businesses, Employees Vary Greatly
The difficulty in figuring the size and impact of San Diego’s clean-tech industry on the overall local economy is exemplified in a recent local startup, ecoATM.
ECONOMY: Hundreds of Firms Seeking Financial Return On Eco-Friendly Practices
This entire issue of the San Diego Business Journal is devoted to the green economy. We call these occasional issues devoted to a single subject a blockbuster. Perhaps we should call this one a gangbuster.
ENERGY: Financial Incentives the Key to Making N. County A Clean-Tech Manufacturing Hub, Chief Executive Says
To make the CleanTech Corridor initiative — a plan to attract numerous clean-tech manufacturers to North County — a success, financial incentives are the key, according to the chief executive of a fast-growing solar energy company.
Thursday, August 4
Leap Wireless International Inc., the flat-rate carrier providing service under the brand Cricket, reported a second quarter net loss of $65.2 million, compared with a net loss of $18.2 million for the like quarter of 2010, in an Aug. 3 announcement.
The Geothermal Resources Council plans to hold its 35th annual meeting Oct. 23-26 at the Town and Country resort in Mission Valley’s Hotel Circle. The Geothermal Energy Association holds its trade show at the same time.
Tuesday, August 2
Silvergate Bank, based in San Diego and with four offices, reported second quarter net income of $771,000 compared with net income of $722,000 for the like quarter of 2010.
Monday, August 1
Escondido-based Realty Income Corp., which invests in retail and related commercial properties, posted revenue of $102.6 million for its second quarter ending June 30, up 24.5 percent from the same period a year ago.
Local real estate brokerage and management firm Hughes Marino has purchased the downtown building that formerly housed San Diego Magazine for $1.8 million, and will convert it for use as its new headquarters.
California Community Bank, based in Escondido and with four branches, reported July 28 that it had second quarter net income of $212,000 compared with net income of $338,000 for the like quarter of 2010.
Medical equipment makers ResMed Inc. and CareFusion Corp., two of San Diego County’s largest public companies, have entered into a five-year distribution agreement
FINANCE: Business Dominates in Adjustable Rate Jumbo Mortgages
Home lending and buying are still well off from where they were in pre-Great Recession times, but business is going great guns at Union Bank.
Troop Relocation and Infusion of Funds Spur Activity at Marine Base
Despite the billions of dollars of construction under way at Marine Corps Base Camp Pendleton, including new maintenance and training facilities, a new hospital and thousands of new housing units, the extraordinary landscape of the 125,000-acre slice of northern San Diego County still looks like a park.
After more than 29 years in the construction business, Jay Leopold, regional manager for DPR Construction, says he is still inspired by the energy, creativity and excitement that come with every day.
TECHNOLOGY: Launch Delayed; Firm Invests $1B in Sector
Although ViaSat Inc. had to delay the launch of its broadband satellite by a month, once the machine begins orbiting, the results should be worth the wait, said several analysts who cover the telecom equipment maker.
Excelling in Various Niches Generates Additional Work
Several companies on the San Diego Business Journal’s Architectural Firms list have taken the economic downturn in stride and are forging ahead with an assortment of jobs.
San Diego Habitat for Humanity is partnering with Swinerton Builders to construct two homes from the ground up in just five days
The fall of housing values over the past couple of years has spurred the debate over which is the better investment: stocks or housing?
The Nice Guys San Diego announced Ted Rossin as Nice Guy 2011 at a luncheon held July 13 at Tom Ham’s Lighthouse.
ARCHITECTURE: Public Projects Keep Some Firms Busy
With commercial building at a virtual standstill, civic projects such as the new $185 million, state-of-the-art central public library have become increasingly crucial to the livelihoods of Rob Wellington Quigley and other longtime local architectural firms.
REAL ESTATE: Vacancy Rates Declining Slightly; Landlords Offer Incentives
Halfway through 2011, CB Richard Ellis broker Jeb Bakke describes San Diego County’s office real estate story as “a tale of many different markets.”
AEROSPACE: It Seeks Additional New Staff At Its Local Headquarters
Increased orders from some of the world’s largest aircraft manufacturers have propelled rising employment at Goodrich Aerostructures in Chula Vista.
TECHNOLOGY: ICE Helps The Mobile Market Get Plenty of Good Views
Richard Stanfield and his company’s venture backers have a strong interest in how people consume video. Consumer preferences are changing.
MEDICINE: Builder to Tackle Complicated Job Of Upgrading Facilities
San Diego-based Sharp HealthCare has taken a huge step in upgrading the infrastructure at one of its biggest and oldest hospitals to comply with statewide earthquake safety rules by awarding the $26 million design-build contract to Swinerton Inc., a construction company based in San Francisco.
DEFENSE: Company Aims To Make Laser Weapon That Would Fit in Belly of Airplane
Make it smaller. Give it more power. General Atomics Aeronautical Systems Inc. is facing demands that any technology company would recognize.
Wells Fargo Bank continues to maintain a lead on a list of loans guaranteed by the Small Business Administration in the San Diego region, according to the most recent report released by the SBA.
Although the economic downturn has led to a decline in the number of construction projects locally and nationally, there are still some notable projects under way in San Diego County.
BIOTECH: Opportunities Expanding for Specialized Research; ‘A Poster Child’
Carlsbad-based Synteract Inc., a contract research organization that’s become one of the largest and fastest-growing
Healing Environment, Adaptability to Change Are Built-In Features
Much of the thinking behind the $956 million Palomar Medical Center West, under construction in western Escondido, is geared to blending in with the green rolling hillsides from which the hospital can be seen towering for miles around.
BIOTECH: Bristol-Myers Squibb to Acquire Amira For as Much as $475M
Local drug discovery firm Amira Pharmaceuticals Inc., formed in 2005 by a team of Merck & Co. Inc. scientists, soon will be acquired by publicly held Bristol-Myers Squibb Co. in a deal valued at as much as $475 million.
REAL ESTATE: Economic Uncertainty Grips Firms Wavering About Moves
The second quarter of 2011 saw some sizable local industrial leasings by companies ranging from dairy products maker Glanbia Plc and electric car maker Aptera Motors Inc., to biotech manufacturing products provider Biotix Inc. and energy drink seller Red Bull Distribution Co.
New 16-Story Tower Is Built to Survive in A Dangerous World
The ever-present threat of domestic terrorist attacks is having a big impact on the design and construction of new public buildings, especially those structures where security is a most important consideration.