Sweat 2020

San Diego is known for its startup culture and innovation economy, but what happens when the company moves beyond its early-stage years? The San Diego Business Impact Awards aim to answer that question, spotlighting the middle market businesses helping drive the region’s economy.

Hosted by San Diego Regional Economic Development Corporation (EDC) and JPMorganChase, the second annual awards celebration takes place on Thursday, July 23, from 4:30 to 7:00 p.m. at Scripps Research Auditorium. More than 200 executives, entrepreneurs, and business leaders are expected to attend the networking and cocktail event honoring some of San Diego County’s fastest-growing companies.

Businesses headquartered in San Diego County that have operated for at least two years are encouraged to submit their nomination by Thursday, June 18 at 4 p.m. Companies across industries—from technology and life sciences to tourism and consumer products, as well as pre-revenue startups—are eligible for recognition.

For EDC President and CEO Mark Cafferty, the event is as much about building connections as celebrating success. “We’ve had a longtime partnership with JPMorganChase; their work aligns with our efforts to support underserved communities and drive talent development,” says Cafferty. “And the networking was invaluable last year. I’m still in touch with people I met at last year’s awards.”

EDC is an independently-funded nonprofit that works directly with San Diego companies to help them grow the local economy, make the region as a whole more competitive, and attract and retain top-tier talent with quality jobs. Through EDC, companies can get help starting or expanding their business with support for things like site selection, permit navigation, and regulatory guidance, plus connections to local resources and potential business collaborators.

The San Diego Business Impact Awards began as an idea with one of EDC’s longtime strategic partners, JPMorganChase. The two organizations share a commitment to San Diego and are dedicated to bolstering middle market businesses.

“We’re blessed with a robust innovation economy and startup community,” says Aaron Ryan, San Diego Region Manager for JPMorgan’s Commercial and Investment Bank and vice chair of the firm’s’ San Diego Market Leadership Team. “But one of the segments of the business community we felt was overlooked was emerging middle market companies—the businesses that are no longer small but not yet large.”

Ryan says supporting those companies is critical as they scale and decide where to invest, hire, and grow.

San Diego’s high cost of living remains one of the region’s biggest business challenges, making talent recruitment and retention increasingly competitive. But local leaders point to the region’s quality of life, climate, and collaborative business community as advantages that continue to attract employers and workers.

“In order to support thriving households, there has to be enough high-quality jobs for people to be able to afford to live here,” Cafferty says. “Once a company grows and excels past that middle market point in their growth cycle, they become much more likely to pay higher wages and compete globally.”

Both Cafferty and Ryan proudly tout the unique collaboration that exists among San Diego County businesses. Bringing together top universities producing high-quality talent, cutting-edge research institutions, a robust military and defense presence, leading ocean science and environmental organizations, and a binational, cross-border identity creates a distinct business ecosystem that defines and strengthens the San Diego region. 

Last year’s San Diego Business Impact Awards celebrated nearly 60 honorees from 49 industries, representing a total of 8,232 jobs across eight sectors, including: software and technology, healthcare and life sciences, consumer goods, professional services, finance, construction and manufacturing, defense, and hospitality and tourism. On average, honoree companies doubled their revenues over the previous year, employed more than 145 San Diegans each, and offered an average annual compensation of $192,415.

Top honorees included defense contractor Innoflight, environmental consulting firm Bancroft Construction Services, life sciences startup Element Biosciences, defense technology contractor GALT Aerospace, organic grocery store chain Jimbo’s, and biopharmaceutical company LENZ Therapeutics. During the event, Innoflight Founder and CEO Jeff Janicik held a fireside chat offering his insights on investing in the community and embracing San Diego culture.

This year, organizers hope to continue highlighting the middle market players driving economic impact across the region. Nominations are now open through June 18 at 4 p.m. Get your tickets to the San Diego Business Impact Awards celebration to enjoy drinks by Snake Oil Cocktail Co., light bites, live music, and networking.