Daily Business Report: Monday, Oct. 25, 2021
Mission Hill’s Inspiration Heights Historic District
under consideration for federal historic designation
The Inspiration Heights Historic District in Mission Hills will be considered for federal historic designation when the California State Historical Resources Commission meets virtually on Oct. 29. Overall, the commission will consider 13 nominations for the designation.
The Inspiration Heights Historic District is composed almost entirely of single-family residential buildings located in the San Diego neighborhood of Mission Hills. Three stucco entrance pillars on Sunset Boulevard announce the district’s northern entrance and are original to the neighborhood’s 1909 subdivision.
The district reflects city planning and urban design principles that prevailed at the turn of the 20th century and is an excellent, intact concentration of early 20th century Prairie School, Craftsman, and Period Revival architectural styles.
TOP PHOTO: Inspiration Heights Historic District. (Credit: California Office of Historic Preservation)
Founders First CDC announces
fund for veteran entrepreneurs
Founders First CDC, a SanDiego nonprofit, announced its 2021 Stephen L. Tadlock Fund, a grant program to support U.S. veteran business owners. The Steven L. Tadlock Fund makes micro-investments in veterans who are running small businesses.
The award, which will be granted prior to Veterans’ Day, was inspired by Founder’s First CEO Kim Folsom’s brother, U.S. Navy veteran Steven Tadlock. The $25,000 fund will make its first investments in 50 veterans who are running employer-based small businesses.
There are over 2.5 million veteran majority-owned businesses in the U.S., according to the most recent U.S. Census Bureau’s survey of small business owners. In the same report, the SBA reported veteran owned small businesses employ more than 5 million people in the U.S., generate revenue of $1.14 trillion, and an annual payroll of $195 billion.
The judging committee includes a panel of distinguished veterans representing multiple branches of service.
Applications are now open and will close on Oct. 29, 2021. Businesses must have a U.S. military veteran CEO, president or owner.
I-Mab expands U.S. footprint with new R&D site in San Diego
I-Mab, a clinical-stage biopharmaceutical company, announced that it will establish a new site focusing on Translational Medicine and Formulation Research in San Diego. The state-of-the-art, integrated laboratory and office space will strengthen the company’s worldwide development capabilities, further reinforcing I-Mab’s ability to conduct global clinical studies across China and the U.S., according to Jingwu Zang, founder, chairman and director of I-Mab.
“Our vision for our new San Diego location is to establish a world-class research and operational site as part of I-Mab US R&D Center that will support our mission to deliver first and best in class medicines to patients worldwide,” said Zang. “We’re very excited about our new research site in San Diego, which will complement our research and development facilities around the world to advance our innovative pipeline globally.”
I-Mab is focused on discovery, development, and commercialization of novel or highly differentiated biologics in the therapeutic areas of immuno-oncology and autoimmune diseases.
San Diego military spending and jobs
arose in 2021, offsetting the pandemic
Military-related spending in San Diego County grew by 5.4 percent in 2021 and continues to be a significant driver of the local economy, according to an annual report released Wednesday.
Government spending associated with the defense industry in San Diego, including the Defense department, Homeland Security and Veterans Affairs, amounts to 25 percent of the local economy, according to researchers at UC San Diego’s Rady School of Management, which conducted the study.
SANDAG board approves pilot program giving
free transit to all youth 18 years and younger
The SANDAG Board of Directors has approved the Social Equity Early Action Transit Pilot, which will provide free transit for all youth 18 years and younger starting in spring 2022. The pilot will also increase transit services in historically underserved areas, provide transit services education and outreach, and fund a research study to evaluate the benefits of the pilot project.
The board also discussed the Regional Digital Equity Strategy to ensure the region is working toward bridging the digital divide and ensuring everyone in the San Diego region has affordable broadband access. Broadband is critical to improving economic prosperity and sustainability and achieving the goals outlined in the draft 2021 Regional Plan.”
United Way of San Diego distributes school
supplies to Joyner Elementary School
United Way of San Diego County (UWSD), and sponsor Blue Shield California Promise Health Plan, distributed hundreds of school supplies to students and families in need at Joyner Elementary School in City Heights last Thursday.
The virtual back to school drive collected enough school supplies and monetary donations to help set up hundreds of local students and their families for a successful school year. In addition, UWSD corporate partner, Takeda, generously donated 200 backpacks in support of students most in need.
The public can still make monetary donations directly to UWSD to support the organization’s ongoing efforts to ensure students have the tools they need and the stability at home to succeed in school. For more information and ways to give back, visit
Flock Freight becomes San Diego’s latest unicorn
Encinitas-based Flock Freight has landed another $215 million in venture capital — making it the county’s latest unicorn — joining Seismic, ClickUp, Shield AI, Vuori and a flood of other startups with valuations topping $1 billion. The logistics company has created an AI platform to revolutionize the way freight moves across the country.
Revised travel restrictions to help
San Ysidro businesses, boost global economy
The White House has revised its travel restrictions to allow fully vaccinated foreign travelers to enter the U.S. starting Nov. 8. The new guidelines apply to both international air and land travel, reconnecting San Diego and Tijuana businesses and talent and marking an important step toward our binational region’s economic recovery.
General Atomics awarded $9.6 million
contract by the U.S. Navy
The Navy has awarded General Atomics a $9.6 million price modification to a previously awarded contract. The deal covers components for the aircraft launch and recovery equipment being built into USS Gerald R. Ford class aircraft carrier ships and fuels San Diego’s defense industry.
