Daily Business Report-Dec. 17, 2018
Snow scenics in Sierra Nevada near Donner Lake and Lake Tahoe. (Photo courtesy of California Department of Water Resources)
Winters are becoming shorter
in mountainous Western U.S.
Winters are still coming, but they’re becoming increasingly shorter, say the findings of one researcher at Scripps Institution of Oceanography. Looking at snowpack data from 1982 through 2017, researcher Amato Evan found that winters are becoming shorter in mountainous regions.
While he found no trend in declining snowfall, his research shows that the snow is disappearing earlier in the year, which could have implications for state water management and wildfire activity. The study was published Dec. 12 in the Journal of Applied Meteorology and Climatology and presented at the American Geophysical Union Fall Meeting in Washington, D.C.
States in the western U.S. rely heavily on snowfall and snowpack for water. As snowpack melts, it fills reservoirs, which provide the states with an increasingly vital resource for drinking water and agriculture. Changing melt times could result in earlier reservoir fillings and possible overflows if not managed correctly, and could change the timing of wildfire seasons. This is particularly important for California, the most agriculturally-diverse state in the country and which experienced the worst wildfires on record in 2017 and 2018.
Read more…
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Sempra completes sale of U.S.
solar assets to Consolidated Edison
Sempra Energy, parent of San Diego Gas & Electric, announced that it has completed the sale of its U.S. operating solar assets, solar and battery storage development projects, as well as its ownership interest in one wind facility, to Consolidated Edison, Inc. for approximately $1.6 billion in cash.
“With the completion of this sale, we continue to build momentum toward becoming North America’s premier energy infrastructure company, while expanding our opportunities to build and acquire other energy infrastructure,” said Joseph A. Householder, president and chief operating officer of Sempra Energy.
Sempra Energy expects to use the sale proceeds to significantly expand its regulated Texas utility platform through Oncor Electric Delivery Company LLC’s pending acquisition of InfraREIT Inc. and to pay down debt.
The transaction included: Mesquite Solar 2 and 3 in Arizona; Copper Mountain Solar 1 and 4 in Nevada; Great Valley Solar in California; and solar and battery storage development projects. Additionally, Con Edison also acquired Sempra Energy’s interest in the jointly owned facilities including: Mesquite Solar 1; Copper Mountain Solar 2 and 3; the Alpaugh, Corcoran and White River solar facilities in California; and the Broken Bow II wind facility in Nebraska. The sale represents approximately 980 megawatts AC of installed capacity.
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Local colleges expand, bolster talent pipeline
San Diego’s educational institutions produce a top-tier talent pipeline for employers both here and abroad. And now more than ever, San Diego State University, UC San Diego, San Diego Community College District, and others are expanding programs and campuses to promote inclusion and support industry needs.
This year’s successes include:
• CSU San Marcos announced the creation of its bachelor of science in computer engineering thanks to more than $1.5 million in donations from local companies and their employees.
• Mira Costa and Palomar colleges to waive tuition for all first-time, full-time students as part of California College Promise program.
• Philanthropist Denny Sanford made a landmark $100 million gift to the National University System to expand its social emotional learning program.
• Southwestern College was awarded $325,000 in grants to fund services for veteran and undocumented students.
• San Diego City College expanded its cybersecurity program to include associate and certificate opportunities.
• With its first female president Adela de la Torre at the helm, San Diego State University is set to launch a new Big Data Analytics graduate program.
UC San Diego received a record $75 million from computer science alum Taner Halicioğlu to grow its new data science institute.
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Not a HQ town, but now we have these…
Qualcomm aside, San Diego is not often thought of as a headquarter town; but that doesn’t mean large companies don’t see value in setting up operations in the region. This year, these tech heavyweights planted roots in San Diego:
• Data analytics company Teradata relocated its headquarters to San Diego from Dayton, Ohio.
• Amazon to hire up to 350 at its new UTC campus.
• Walmart Labs opened 30,000-square-foot office in Carlsbad; to double tech workforce.
• Wrike, Cloudbeds, and Vertex Pharmaceuticals made significant investments in local expansions.
• And most recently, Apple announced it will be expanding to San Diego, supporting up to 1,000 jobs
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SD companies rake in big bucks for growth
Throughout 2018, San Diego saw more than 80 venture capital deals. While the number of deals is down from last year, the cash totals are record-breaking in more ways than one. San Diego companies raised more $1.8 billion (as of Q3), with the vast majority – $1.5 billion – going to health care companies. The region is on pace to have its best year for VC since 2000. Top deals include Samumed, Ideaya Biosciences, Gossamer Bio, Grail, Helix, and dozens more.
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SDCCD board re-elects Maria Nieto Senour
as president; new members sworn in
Dr. Maria Nieto Senour has been re-elected president of the San Diego Community College District’s (SDCCD) Board of Trustees. The vote occurred at the board’s Dec. 13 organizational meeting that saw Senour and two newly elected trustees take the oath of office. Senour was first elected to the SDCCD board in 1990 and has served as board president since 2015.
Newcomers Craig Milgrim, a Grossmont College professor, and community college alumnus Sean Elo also won four-year terms to the board in the November general election. Elo currently serves as executive director of the San Diego Youth Development Office.
This marked the first time since 2002, when retiring trustees Rich Grosch and Peter Zschiesche were elected, that the governing board seated two new members. During their terms, Grosch and Zschiesche were part of a board that oversaw an unprecedented, $1.555 billion bond construction program financed by Propositions S and N that transformed San Diego City, Mesa, and Miramar colleges, and San Diego Continuing Education.
In addition to Senour’s election as board president, trustee Mary Graham was elected as the board’s executive vice president, and Chancellor Constance Carroll was appointed as secretary.
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Cubic wins 2018 modeling
and simulation award
Cubic Global Defense, the business division of Cubic Corporation, has been awarded the 2018 Modeling and Simulation Award in the Training/Simulation category from the National Training and Simulation Association (NTSA). Each year, NTSA presents awards for outstanding achievement in the development or application of models and simulations. The award was presented to Cubic at the annual NTSA M&S Awards event.
In partnership with the U.S. Air Force Research Laboratory and Naval Air Systems Command, Cubic successfully completed the Secure LVC Advanced Training Environment Advanced Technology Demonstration, demonstrating cutting-edge live, virtual and constructive technology for fighter aircraft.
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Personnel Announcements
Thomas Ladt Joins Colliers International
Thomas Ladt has joined Colliers International San Diego region as a senior vice president. Ladt will be based in Colliers International’s North San Diego office specializing in the acquisition and disposition of net-leased retail properties and shopping centers located throughout the United States.
Ladt is an experienced real estate professional with more than 10 years of experience. Since 2008, he has participated in transactions valued at more than $1 billion and located in 40 states across the United States.
Ladt is a member of the International Council of Shopping Centers and holds a Bachelor of Arts degree in Business Administration with an emphasis in Real Estate and Management from the University of San Diego.
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Eric Lund tenders resignation as CEO
of S.D. East County Chamber of Commerce
The San Diego East County Chamber of Commerce has accepted the resignation of CEO Eric J. Lund, effective Jan. 11, 2019, after five years with the organization. Lund has accepted an opportunity with another organization.
“Eric will be missed by our board, staff and members,” said Board Chair Stacy Mackey. “Yet through his leadership, he is leaving the organization in a very strong position. We are blessed with the confidence that we have an effective process in place to fill this key position.
Jonda Cvek, the chamber’s office and membership development manager,
will oversee staff, programs and projects while a search is conducted for a replacement for Lund. The chamber board has established a search committee to identify the next CEO to lead the chamber.
