SDBJ.COM SAN DIEGO BUSINESS JOURNAL
Vol. 41, No. 43 THE COMMUNITY OF BUSINESS™ October 26 – November 1, 2020 • $5.00 Cue Receives $481M Award BIOTECH: Co. Plans to Produce More Virus Tests
By BRAD GRAVES
The U.S. Department of Defense award- ed San Diego-based Cue Health Inc. $481 million to expand the capacity of its San Diego manufacturing plant. Cue Health makes point-of-care tests to detect SARS- CoV-2, the virus that causes COVID-19. The two entities announced the award on Oct. 13. Under the deal, Cue and the feder- al government plan to deploy 6 million COVID-19 tests to support the gov- ernment's domestic virus response by Photo courtesy of Oceanside Beach Resort Owner LLC March. The partners are aiming to get Mission Pacific Hotel and The Seabird Resort are both scheduled to open in spring 2021. They are located in Oceanside on Pacific Street near Mission Avenue. ¨Cue page 34 Two Adjacent Hotels to Open in Oceanside in 2021 HOSPITALITY: $180M Project Will Add 387 Rooms and 400 Jobs Holographic
By MARIEL CONCEPCION additional 387 hotel rooms to the city working on creating the dedicated lodg- Solutions as well as 400 new jobs. Collectively, the ing space for over 10 years, with ground- The city of Oceanside is about to get hotels will be the largest oceanfront re- breaking taking place in 2019. The tran- TECH: IKIN Creates a major hospitality upgrade. sort development in San Diego County sient occupancy tax (TOT) from the prop- New Way of Interacting The Mission Pacific Hotel and The in more than half a century, according to erties is expected to be $3.4 million an- Seabird Resort, two adjacent oceanfront Oceanside Beach Resort Owner LLC, an nually, she said, with lodging represent- By FRED GRIER properties located on 2.8 acres of the affiliate of S.D. Malkin Properties. ing 26% of visitor spending in Oceans- Oceanside Pier, are scheduled to open ide out of $415 million. (The remaining IKIN, a San spring 2021. Together, they span 700 feet Personality of Oceanside 74% is spent on dining, attractions, mu- Diego company of beachfront property. Leslee Gaul, president and CEO of seums, recreation, retail, etc.) The visitor founded in 2017, The $180 million project will add an Visit Oceanside, said the city has been ¨ Hotels page 31 is in the process of partnering with some of the largest compa- Military's Economic Impact Estimated at $52.4 Billion nies in the world to provide holo- DEFENSE: Report Quantifies Presence of Navy, Marines, Contractors graphic solutions for both business Ikin and consumer ap- CEO By BRAD GRAVES The military was responsible for some blow of COVID-19 this year, the report Joe Ward plications. $33.6 billion in direct spending during stated. Led by CEO Joe Ward, and Tay- With its U.S. Navy port, its sprawling fiscal 2020. That figure grew 5.7% from lor Griffith, IKIN's CTO and founder. military bases, a large and diverse popu- total direct spending of $31.8 billion in Responsible for 342,500 Jobs The company aims to provide an eco- lation of defense contractors and a legion fiscal 2019, according to a recently issued The military directly employed approx- system in which people will have ac- of military retirees, San Diego County is report from the San Diego Military Advi- imately 153,000 uniformed and civilian cess to tools to create, interact, touch home to the nation's largest military com- sory Council (SDMAC), a nonprofit civ- employees in fiscal 2020, up 7.5% from ap- and feel holographic environments. munity. Year over year, the U.S. Depart- ic organization with ties to the military. proximately 142,400 in the previous year. ment of Defense spends a greater amount Such spending makes the local economy Report authors said the military can ¨ Holographic page 34 in the region. resilient and helped cushion the economic ¨Military page 35