Showing posts with the label growth

Innovation in San Diego Creates Investment Opportunities

2014 has come and gone , but the benefits of a growth year are likely to carry on for some time in San Diego. According to Connect, a non-profit group that supports innovation , they counted 446 technology and life science start-ups in 2014 up from 426 companies in 2013 ( 1 ). Of these firms , Bio-tech got 62% of the $805 million investment capital dollars while software and medical devices got a third and fourth place in total investment influx . What does this say about San Diego? It says that San Diego has a budding bio-tech and software industry that should be supported by city policies , higher education , corporate training , and international promotion . Encouraging investment funds to find receptive companies seeking those investments for expansions puts money where it has the quickest and most efficient economic contribution . The Economic contribution comes from using the investment money to exp

San Diego Employment Numbers Trip But Could Regain Footing from High Technology Firms

2014 wasn't a great year for job creation in San Diego as employment numbers left much to be desired. According to the Employment Development Department 30,208 jobs were added to the San Diego economy in 2014 missing economist projections ( 1 ). Despite slower than expected growth in construction, professional, health, and scientific jobs the service industry added the most jobs with a 4.86% increase. Employment rates may be on the rise if San Diego focuses closely on high growth industries that already have a solid present in the area. The numbers are not dismal and could indicate a upward swing for 2015. Service jobs are relatively easy to add and mark a level of rising consumer spending on travel, restaurants, and leisure services that mark optimism. These are some of the first jobs added to the economy before higher paying jobs also make their way onto the market. Higher paying employment comes after lower skilled service jobs have made their initial appearance. Industrie

Joseph Schumpeter’s Concept of Entrepreneurship and Combinations

Joseph Schumpeter was an outstanding economist that immigrated to the U.S. Many of his works were not mathematical like other economists but he did delve into the economy as a complete economic system. His work has led to new ways of thinking about the economy as a system and offered a greater understanding of creative destruction and entrepreneurship as part of the economic model.  He believed that entrepreneurship is an important part of the economic system. These difficult to account for innovations result from companies that have the ability to research important product improvements.   Innovative improvements are a force that changes the market and allows some companies to earn higher levels of revenue for a time until their products are copied by others. The innovative process is needed to maintain new products and a market leading position.  He outlined his theory in the book Theory of Economic Development (1911) and maintained the fundamentals throughout his life.

British Report Indicates that Higher Education Has Economic and Social Benefits

A British report on Higher Education entitled the “Quadrants” helps bring forward the idea that higher education has many secondary benefits beyond earning higher incomes. Education is often a process of learning about how to make money but it can also be seen as a process of personal enrichment. According to the November report from the UK Department for Business and Innovation Skills this enrichment makes its way into society in substantial ways.  Direct benefits of education often include characteristics, social interaction, and accreditation and signaling benefits. The person develops to a higher level through advanced education. They are more able to deal with others as well as stronger in their marketability. Likewise, their personal characteristics become enhanced.  An increase in the educational attainment in society has a marked wider benefit for society itself. Crime statistics, health, happiness, and just about everything else improves. Societal conflict decrea