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Industry Breakdown

Biotech & Technology

Life sciences, tech clusters see surge of activity

San Diego ranks third on the list of top life sciences clusters in the United States, but the industry saw volatility in the first half of the year, with stocks that surged and then slumped. The first half of 2014 in the San Diego tech scene was filled with some welcome financial news and a call to arms for the startup community.

Construction

Industry sees growth, unveiling of landmark projects

San Diego’s construction industry seems to be making a shift from residential to nonresidential as statistics suggest improvement in commercial and public projects. There is also future growth in the South Bay: Developers for project centerpieces are needed for the Chula Vista Bayfront Master Plan.

Defense

Defense industry asked to do more with less

Military needs are being reshaped as the U.S. armed forces undergo a period of transition amid a fiscally constrained environment. Industry partners have been asked to be adaptive and innovative in fulfilling escalating needs for reconnaissance and surveillance systems, unmanned vehicles and cybersecurity solutions -- for less money.

Education

South Bay scandal, budget issues dominate headlines

Past corruption in some South Bay school districts was a continued focus through early 2014, but news with tie-ins to state budgeting for schools also made headlines.

Finance

Banks increase lending, great time for IPOs

San Diego continues a steady recovery that has, in many aspects, beat expectations. Unemployment is down and household net worth is up. The IPO market is strong, retail sales are on the rise and bank performance has improved, paving the way for greater small-business lending. Still, many experts agree that the economy, housing markets and labor situation remain fragile.

Health

VA scandal, medical marijuana were top health stories

In the first half of the year, Obamacare and the VA hospital scandal dominated national news. In San Diego, health care facility construction continued to be an area of high activity, and there was news of shake-ups at two health groups and new regulations pertaining to medical marijuana.

Hospitality & Retail

Mid year, San Diego’s hospitality industry has seen several power plays

There have been major shifts in San Diego’s hospitality industry in the first half of 2014, with new ownership stakes in where to dine, vacation and celebrate. Controversy over one of the city’s biggest visitor attractions and plans for the Balboa Park centennial also dominated headlines.

Law

Campaign scandal, Supreme Court rulings top 2014 legal stories

A campaign finance scandal, a contentious district attorney race and some controversial Supreme Court rulings were among the most talked about stories in the legal community for the first half of 2014.

Real Estate

Highlights in residential and commercial real estate

Home prices continued an upward trend in the first half of 2014 while the number of foreclosures declined from 2013 and the mortgage market returned to a majority purchase market. Some big commercial property sales occurred and Mission Valley still has room to grow.

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