Daily Business Report: Nov. 13, 2023
San Diego State University’s Mission
Valley developments get green light
By Ryan Brothers | SDSU
The California State University Board of Trustees has given its approval for two San Diego State University developments — the first affordable housing project and the first residential and retail project.
AvalonBay Communities will be the developer of the residential and retail project, responsible for financing, constructing, operating and maintaining the project. SDSU/CSU will be the landlord and receive ground lease payments from AvalonBay.
The first affordable housing project, to be developed by Chelsea Investment Corporation, is set to be constructed on a parcel in the northeastern portion of the SDSU Mission Valley site. The seven-story building will provide 186 dwelling units, with 184 designated as income-restricted units and two manager units. These affordable housing units, ranging from one to four bedrooms, will target households with incomes averaging 50 percent of the area median income.
Photo: Top: Residential and Retail project by AvalonBay.
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County makes home cooking program permanent
Home kitchens operate as mini restaurants
The Board of Supervisors voted to continue a temporary program set to expire in 2024 that supports home cooking as a small business. It also expanded the earning potential for its participants. This follows the 2022 adoption of a two-year trial of the Microenterprise Home Kitchen Operations program (MEHKO). Now, there are 61 permitted home kitchens in operation, offering new ways for people to earn a living doing what they love – cooking for others.
The board also increased the number of meals a permittee can sell if they add food carts to their operation. These actions further remove barriers for small, food-based entrepreneurs County-wide. It also increases the ability for people to grow their business and contribute to the local economy.
MEHKOs are home kitchens that operate as mini restaurants. The opportunity to run a business without the overhead costs and infrastructure required of a traditional brick-and-mortar restaurant facility is a game-changer for the existing MEHKOs participants.
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Recognizing fake news now a required subject in California schools
By Carolyn Jones | CalMatters
Pushing back against the surge of misinformation online, California will now require all K-12 students to learn media literacy skills — such as recognizing fake news and thinking critically about what they encounter on the internet.
Gov. Gavin Newsom last month signed Assembly Bill 873, which requires the state to add media literacy to curriculum frameworks for English language arts, science, math and history-social studies, rolling out gradually beginning next year. Instead of a stand-alone class, the topic will be woven into existing classes and lessons throughout the school year.
“I’ve seen the impact that misinformation has had in the real world — how it affects the way people vote, whether they accept the outcomes of elections, try to overthrow our democracy,” said the bill’s sponsor, Assemblymember Marc Berman, a Democrat from Menlo Park. “This is about making sure our young people have the skills they need to navigate this landscape.”
The new law comes amid rising public distrust in the media, especially among young people.
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Debra Schwartz to retire as head
of Mission Federal Credit Union
After nearly 17 years of leadership with Mission Federal Credit Union, President & Chief Executive Officer Debra Schwartz has elected to officially retire March 1, 2024.
Schwartz joined Mission Fed in 2007 as the credit union’s executive vice president.
After serving as interim CEO in 2008, she was officially named president and CEO that year and has since grown Mission Fed from $1.8 billion to $6 billion in assets.
The credit union’s membership has expanded from 127,000 to more than 300,000 members in the same timeframe.
The Mission Fed Board of Directors unanimously appointed Chief Financial Officer Doug Wright as Schwartz’s successor.
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World Trade Center San Diego concludes
successful trade mission to South Korea
World Trade Center San Diego led a successful trade mission to South Korea, a natural partner for San Diego. Joined by SANDAG, Mayor Todd Gloria, and County Board of Supervisors Chairwoman Nora Vargas and more than 30 civic, academic and corporate partners, the four-day mission included meetings with Korean dignitaries, and visits to Qualcomm, Illumina, and Samsung Biologics, among others. Marking the sixth trip for WTCSD, these trade missions serve to drive San Diego’s global identity and connection to other innovative global metros.
Read more from Nikia Clark, WTCSD
Palomar Health Escondido and Poway
campuses earn an ‘A’ safety grade
Palomar Health, California’s largest health care district, has earned an “A” Hospital Safety Grade at both Escondido and Poway campuses from The Leapfrog Group, a national nonprofit watchdog that sets standards for excellence in patient care. Leapfrog assigns a grade to general hospitals across the country based on over 30 national performance measures reflecting errors, accidents, injuries and infections, as well as the systems hospitals have in place to prevent harm.
High West Distillery partners with San Diego’s Speakeasy Co
High West Distillery partnered with San Diego’s Speakeasy Co to make their most exclusive whiskey, A Midwinter Night’s Dram Act 11, available DTC to California-based consumers. High West Distillery, of Constellation Brands, began in Park City, Utah, in 2006, being the state’s first legal distillery since 1870. Its partnership with Speakeasy Co is a significant milestone, offering expansion to new markets.
Neurocrine Biosciences reports failed studies
Neurocrine Biosciences Inc. announced Phase 2 study results from two signal-seeking pipeline programs in focal onset seizures and anhedonia. “We are disappointed with the outcome of these studies, but remain fully committed to finding new treatment options for patients living with serious neurological and neuropsychiatric disorders, including epilepsy and major depressive disorder,” said Eiry W. Roberts, M.D., chief medical officer.
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SeaWorld’s new baby emperor chick has a name — Pearl
After overwhelming public participation, the emperor penguin chick hatched at SeaWorld San Diego has officially been named: and her name is Pearl. Over 29,000 people voted with Pearl receiving more than half the votes. Pearl hatched on Sept. 12, 2023, the first chick hatched at SeaWorld San Diego since 2010. SeaWorld San Diego is the only zoo in the Western Hemisphere where emperor penguins can be seen.
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San Diego’s CHUZA winner of PepsiCo’s Greenhouse Accelerator
PepsiCo announced Mexican-inspired snack company CHUZA, based in San Diego, as the winner of the eighth class of the Greenhouse Accelerator. This year marks the first-ever Juntos Crecemos (Together We Grow) edition of the PepsiCo Greenhouse Accelerator program focused on supporting emerging Hispanic businesses across the food and beverage industry. CHUZA will receive a $100,000 grant and other resources to scale their operations and grow their business.
Visage Imaging to showcase products at Chicago meeting
San Diego-based Visage Imaging Inc., a wholly owned subsidiary of Pro Medicus Ltd., announced it will be showcasing a series of new product additions and innovations, as well as the industry-leading Visage 7 Enterprise Imaging Platform, at the Radiological Society of North America 2023 annual meeting at McCormick Place South Hall in Chicago Nov. 26-29.
Ichnos Sciences data selected for presentation in San Diego
Ichnos Sciences, a New York clinical-stage biotechnology company developing innovative multispecific antibodies for oncology, announced that three abstracts highlighting data on its leading oncology assets have been selected for presentation at the upcoming 65th American Society of Hematology (ASH) Annual Meeting and Exposition. The meeting will be held Dec. 9-12 in San Diego. The full ASH 2023 Annual Meeting abstracts are available for review at: https://www.hematology.org/meetings/annual-meeting/abstracts
Sorrento Pacific Financial announces alliance
with Bankoh Investment Service Inc.
San Diego-based Sorrento Pacific Financial LLC, a subsidiary of Atria Wealth Solutions Inc., and Bankoh Investment Service Inc., the broker-dealer subsidiary of Bank of Hawai’i, announced that they have entered into a multi-year secondary clearing arrangement. Through this strategic partnership, BISI will maintain control of their broker-dealer and brand while gaining access to an enhanced operating platform.
Team Lewis launches new office in Dubai
Team Lewis has launched a new office in Dubai, United Arab Emirates (UAE). This marks the agency’s 25th office. The opening represents continued investment in cross-border capabilities for international clients. Team Lewis Dubai will open its doors with a roster of flagship global accounts including BlackBerry. Maha Ayash will lead the setup. She joins Team Lewis with substantial experience in providing strategic advice for clients across a wide range of sectors, including mobility, business advocacy, sustainability and aerospace.
Quick Custom Intelligence co-founder to give major speech
technology officer for San Diego’s Quick Custom Inelligence, will be a featured speaker at the National Congress of American Indians’ 80th annual Convention & Marketplace in New Orleans on Nov. 14. Cardno will address a timely topic at the convention – “The Recent Hacking of Commercial and Tribal Casinos.” He will join experts Victor Rocha, conference chair of the Indian Gaming Association, and Renita DiStefano, president and CEO of Second Derivative LLC, to provide valuable insights into this pressing issue.
