Business Facilities Magazine Names San Diego Regional Economic Development Corp. Bronze Winner

Business Wire, Jan 7, 2004

Business Editors

SAN DIEGO--(BUSINESS WIRE)--Jan. 7, 2004

Business Facilities Magazine has announced that the San Diego Regional Economic Development Corp. (EDC) is the Bronze Winner of its 2003 Economic Development Achievement Awards for Regional Programs. This year marked the 11th annual national awards program, which recognizes those communities, corporations and individuals who are the driving forces behind the world's economic growth.

In making the announcement, Business Facilities said, "The San Diego Regional EDC's efforts to enhance regional competitiveness capitalize on the region's strengths in education, venture capital, and industry associations to enhance growth. These initiatives have produced an impressive return on taxpayer investment through the creation of more than 15,000 jobs in high-wage technology sectors between 2000 and 2002. They've also gotten recognition: Ross DeVol, director of regional studies for the Milken Institute, called San Diego the most diversified high-tech economy in the U.S. and Forbes magazine and the Milken Institute in 2002 ranked San Diego the #1 Best Place for Business and Careers in the nation."

This is EDC's second national economic development award in 2003. In April, the U.S. Department of Commerce's Economic Development Administration honored EDC for its excellence in enhancing regional competitiveness.

"We at EDC are delighted to receive national recognition for what we do -- and for what we have contributed to what our region has become, especially from people who make site selection decisions for companies," said Julie Meier Wright, president & CEO of the San Diego Regional EDC. "Our success is most clearly noted by the companies with which we work, and our mission to market the region and to address issues of regional and state competitiveness for investment is an on-going process against a growing number of competitor regions who covet our high-wage jobs and cutting-edge industries and compete aggressively for their investment."

According to Business Facilities, the magazine was the first to judge members of the economic development community "not on the merits of marketing materials, but on the innovation of their development programs, the effectiveness of those programs and their ability to create a pro-business environment that will continue to strengthen communities for decades to come." A peer-review panel of judges -- including corporate real estate executives, CEOs, presidents, vice presidents, economic development officials and site selection consultants -- reviewed and scored all award entries.

EDC's core mission is to assist companies in locating, expanding, or solving problems, marketing the San Diego region for high-value investment and addressing issues of regional competitiveness. Its agenda is set by a CEO Board of Directors who supports the growth and expansion of high-wage, high-growth industries and an agenda ensuring sustained economic prosperity for the San Diego region.

About San Diego Regional Economic Development Corp.

EDC is a private, nonprofit corporation funded by the City of San Diego, Supervisorial District One of the County of San Diego, San Diego Unified Port District, City of Chula Vista, other cities in the region and more than 200 private-sector investors. For more information, visit www.sandiegobusiness.org.