Daily Business Report: Monday, June 21, 2021
The rise of a trade titan
China’s Economy: 40 Years of Soaring Exports
Visual Capitalist
China has the second highest GDP in the world, and it exports 15 percent of all the world’s goods. But how did this come to be?
A mere 40 years ago, China’s economy was in an entirely different situation, making up less than 1percent of global exports and still in the infancy stages of building its economy.
The China of the mid-20th century looks remarkably different when compared to the modern-day nation. Prior to the 1980s, China was going through a period of social upheaval, poverty, and dictatorship under Mao Zedong.
Today China is a trade giant and manufacturing behemoth. Only the U.S. and Germany come close to its share of global exports, sitting at 8.1 percent and 7.8 percent, respectively.
Click here for the animated chart from the UNCTAD that showcases China’s rise to global trade dominance over time.
Mushroom powder maker leases Vista
building for its corporate headquarters
M2 Ingredients, a producer of organic, whole food mushroom powders, has signed a long-term lease for a Class A industrial building in Vista, which will become its corporate headquarters and main warehouse for the manufacturing and distribution of
its product.
The company, founded in 2010, said its certified 100 percent organic whole food mushroom powders are made with the “full spectrum of bioactive compounds to support daily health, sports performance, recovery and cognition.”
The building leased by the company is 155,069 square feet and is owned by Alpha Industrial Properties. It is located at 1395 Park Center Drive in Vista.
Aric Starck and Brant Aberg with Cushman & Wakefield represented the landlord in the lease transaction. The tenant was represented by Marko Dragovic, Tim Moore and Isaac Little with Lee & Associates.
Dallas King promoted to area manager for three
R.A. Rauch & Associates hotel properties
R.A. Rauch & Associates Inc. (formerly RAR Hospitality), a San Diego-based hotel management and consulting firm, has promoted Dallas King to area general manager of Fairfield Inn & Suites by Marriott San Diego-San Marcos, Homewood Suites by Hilton San Diego-Del Mar, and Hilton Garden Inn San Diego-Del Mar.
King joined R.A. Rauch & Associates in 2013 as a task force general manager for over 20 boutique and branded properties in their hotel portfolio and earned the general manager role at Fairfield Inn & Suites San Diego-San Marcos in 2016.
In his new position, King will oversee all hotel operations including guest services, sales and marketing, food and beverage, and revenue management for the three R.A. Rauch & Associates properties.
King has over 15 years of experience in travel and hospitality in Southern California and opened the Fairfield Inn & Suites by Marriott San Diego-San Marcos as general manager. King won awards for his guest-driven leadership including a GSS (guest service score) gold award for excelling in the top 10 percent of the Marriott brand.
Prior to joining R.A. Rauch & Associates, King served leadership positions at Pantai Inn in La Jolla, Marriott Courtyard and Marriott Residence Inn in Carlsbad, as well as Fairfield Inn & Suites by Marriott Temecula.
Bob Lehman joins San Diego
Museum Council as executive director
Nonprofit executive Bob Lehman has been named the new executive director of the San Diego Museum Council by the organization’s board of directors. Lehman is a successful nonprofit leader with expertise in organizational management, strategic planning, fundraising, and institutional growth.
He was previously the executive director of the San Diego Gay Men’s Chorus (2013-19) and the director of marketing and sales of the Phoenix Theater Cultural Center in Indianapolis (2019-21).
As executive director of the San Diego Gay Men’s Chorus, Lehman was active in the community, building relationships and promoting diversity and inclusion. Under his leadership the organization was named Non-Profit of the Year for 2016 by the Greater San Diego Business Association. Also in 2016, Lehman was named “Humanitarian of the Year” by the City of San Diego to honor his service to the community.
The San Diego Museum Council is a regional network that connects museums and cultural institutions with audiences and each other. The Council has approximately 40 member organizations.
David Ramirez named partner
at Tyson & Mendes in San Diego
David Ramirez has been elevated to partner at Tyson & Mendes LLP, a San Diego insurance and civil litigation defense firm.
Ramirez joined Tyson & Mendes as senior counsel in 2011.
His 10 years of practice at Tyson & Mendes have focused primarily on general liability, commercial and residential construction, and insurance litigation.
His extensive litigation experience includes representing individuals and businesses across all California state and federal district courts.
Ramirez has successfully resolved a variety of cases involving complex business, construction defects, insurance coverage and class action disputes. He earned his Juris Doctor from University of San Diego Schoolof Law.
Student Services and Administration Building
completed at MiraCosta’s San Elijo campus
Construction has been completed for the new Student Services and Administration Building at the MiraCosta Community College District’s San Elijo Campus in Cardiff.
The building replaces the previous administration building and consolidates student services on campus into a single location.
The $13.9 million facility was designed to “provide a welcoming new gateway for the San Elijo Campus,” a district statement reads. It is the first major new building completed under the district’s $455 Measure MM construction bond program.
The San Elijo facility includes 10,770 square feet of space to support programs and services, including admission and records, financial aid and counseling.
It also includes offices for the campus administration.
Two renovation projects are currently underway at the San Elijo campus.These include a $2.4 million renovation of the student center and science labs. Both projects are on track to be completed at the end of this year, district officials said.
State Employment Development Department
to reinstate work search requirement
CalMatters
Starting July 11, Californians will need to begin looking for work in order to keep receiving unemployment benefits, the Employment Development Department announced.
The reinstated work search requirement — which was temporarily suspended amid the pandemic — comes as thousands of open jobs remain unfilled despite a high unemployment rate.
It also comes amid an uptick in new jobless claims, even as California throws open its economy. Nearly 69,000 Californians filed new claims for the week ending June 12, up nearly 16,000 from the week before, according to federal data. EDD’s backlog of unresolved claims also spiked to nearly 223,000.
City of San Diego to begin work to repave
30th Street in North Park, and install bike lanes
Having completed a major water pipeline replacement project along the 30th Street corridor in North Park, the City of San Diego this week will start repaving and restriping the street segment south from Polk Avenue to Juniper Street, adding new separated bike lines. Once the repaving effort is completed, the roadway will be given time to cure and then bike lane facilities will be installed in early July.
The roughly $30 million 30th Street Pipeline Replacement Project, which replaced more than five miles of water pipelines throughout North Park, Golden Hill and the Southeastern communities, is part of the city’s Capital Improvements Program.
Jacobs Center for Neighborhood Innovation
seeks community leader to join 2022 board
The Jacobs Center for Neighborhood Innovation announced a call for board member applications for its 2022 term.
The Jacobs Center is seeking local, invested community members for the volunteer leadership position to support the organization’s mission to build communities and lift lives, especially through real estate development, economic and workforce development and community engagement. Board members are actively engaged and work alongside staff and partners, advocating for the community and supporting its vision: to be a part of a caring community where all cultures are embraced.
New board members will serve alongside Jacobs family members and continuing members.
To apply, visit bit.ly/JCBoardApp21
12 percent of homes in San Diego region are valued
at more than $1 million, according to LendingTree
San Diego is one of 10 U.S. metropolitan areas among the nation’s 50 largest with the highest percentage of homes valued over $1 million, according to a study by LendingTree. It said that the percentage of owner-occupied units over $1 million in San Diego was 12 percent.
By comparison, the median value of owner-occupied units in San Diego: $563,700.
Other metropolitan areas in the top 10 list
Others in the top 10 list of metropolitan areas with the largest percentage of homes valued at more than $1 million: San Jose, 47 percent; San Francisco, 36 percent; Los Angeles, 17 percent; New York, 10 percent; Seattle, 9 percent; Boston, 7 percent; Washington, 7 percent; Miami, 4 percent; Denver, 4 percent.
