Daily Business Report-Sept. 14, 2015
A rendering of one of the new buildings planned.
Scripps Research Institute Receives
$12.5 Million Grant for Expansion
The Scripps Research Institute (TSRI) has received a $12.5 million challenge grant from an anonymous donor to anchor the construction funding for a new building complex on the institute’s La Jolla campus.
The gift to TSRI is contingent on raising an additional $12.5 million in matching gifts for the project by the first quarter of 2018.
The planned facilities will consolidate research labs on the La Jolla campus, encourage collaboration among the institute’s scientists and strengthen ongoing programs in global health, neuroscience, addiction, structural biology and immunology.
The building complex, projected to open in 2019, will include two laboratory buildings totaling 147,000 square feet of space and an advanced 12,000-square-foot nuclear magnetic resonance facility. The buildings will meet Leadership in Energy & Environmental Design (LEED) green building standards.
Situated at the intersection of John Jay Hopkins Dr. and Genesee Avenue, the new complex is planned on a site adjacent to TSRI’s electron microscopy suite, graduate office. auditorium and plaza. Currently, the site is occupied primarily by a parking lot, which will be replaced by a four-level parking structure and subterranean parking spaces under the laboratory buildings.
The total cost for design and construction of the project is estimated at $111 million, which also involve long-term financing. Over the long term, the new facilities will reduce the institute’s operating costs, according to the institute. Once the complex is complete, total savings are projected at approximately $12 million per year in leases, utilities and other expenses.
“Thanks to this generous donor, every contribution to this important project will be amplified,” said Dick Gephardt, chair of the TSRI board and President/CEO of Gephardt Government Affairs.
Stone Brewing Co. CEO Greg Koch
Stepping Down to Become Chairman
Stone Brewing Co. announced Friday that co-founder Greg Koch will step down as CEO and become the company’s chairman. A search for a new CEO is underway.
Once the new CEO is selected, Koch will focus on long-term and higher-level strategic planning for the company.
Koch has served as CEO for the past 19 years. Since starting the company with President, co-founder and original Brewmaster Steve Wagner in 1996, Stone has become one of the fastest-growing and highest-rated breweries in the world.
It is the ninth largest craft beer company in the United States, employs more than 1,100 employees and operates multiple locations in Southern California, including two Stone Brewing World Bistro & Gardens restaurants. In July 2014, Stone announced it would become the first American craft brewer to independently own and operate a brewery in Europe.
“This is a natural progression once companies reach our size and complexity,” said Koch. “I see this as an opportunity to focus on future direction and projects for Stone Brewing. Most importantly, we are looking for someone who can contribute to our executive team and understands our vision for craft beer.”
Koch will continue working closely to complete the development of Stone Bresing Berlin and oversee the company’s expansion into Richmond, Va. There is no set timeframe or expected hire date for an incoming CEO.
“The ‘co-founder’ part of my title won’t change…that will never change,” said Koch. “I get to keep that one for life, with all the beer privileges of course!”
Cubic Announces Leadership Change
In Transporation Business Unit
Matthew J. Cole, executive vice president and deputy of strategy and business development of Cubic Transportation Systems (CTS), has been appointed president of CTS and senior vice president of Cubic Corp., effective Oct. 1.
Stephen O. Shewmaker, who plans to retire in 2016, has been appointed chairman of CTS.
“It has been an honor to lead CTS, and I am proud of the significant milestones we have achieved as a team,” said Shewmaker. “I believe we have built a strong platform for long-term growth, and I am confident in the business’ future and its ability to add to Cubic’s bottom line.”
Matt Cole joined CTS in 2003, and has held various positions of increasing responsibility, most recently as deputy and executive vice president of strategy and business development. Prior to that, he served as managing director of CTS-Australasia and vice president of finance for CTS.
Cole was instrumental in the negotiation of the Future Ticketing Agreement with Transport for London and the award and mobilization of the Opal Card contract in Sydney. He also spearheaded the acquisitions of NextBus and Serco’s Transport Solutions business.
Cal State San Marcos Student Veteran
Honored for Outstanding Achievement
Cal State San Marcos student veteran Maylin Caldwell was one of 23 awardees — one from each of the CSU campuses — recognized on Sept. 8 by the CSU Board of Trustees and the CSU Foundation Board of Governors for demonstrating superior academic performance, personal accomplishments, community service and financial need.
A Marine Corp veteran, Maylin was one of three women sent to Afghanistan in 2011 with a unit of over 200 men. During the seven month deployment, she completed over 100 supply distribution and rescue missions, receiving medals for her efforts.
However, due to traumatic experiences abroad, Maylin developed post-traumatic stress disorder, making the transition from the military to civilian life very challenging. Nonetheless, she was able to maintain a 4.0 GPA for three years while majoring in biology at Palomar College, was selected for the 2014 Community College Academic Team and is a National Institutes of Health Bridges Scholar.
Today, in recognition of her dedicated military service, she is this year’s Wells Fargo Scholar and a recipient of the California State University Trustees’ Award for Outstanding Achievement, which comes with a $6,000 scholarship.
While conducting undergraduate biology research at CSUSM, Maylin is also an intern at an organic farm, works as a science tutor at Palomar College, and is a STEM ambassador for local youth.
After earning her doctorate in plant biology, she has her sights set on building a sustainable organization that benefits underrepresented communities and the planet.
“I plan to establish a sustainable farm and store to create jobs, help improve the quality of our environment, and give the local community access to natural products at a fair price,” she said.
SDSU Center for Surf Research
To Host International Conference
San Diego State University’s Center for Surf Research will host the Sustainable Stoke Conference Sept. 19-20 at the SDSU Alumni Center. Panels will explore potentially disruptive sustainable surfing innovations.
“Sustainable change is coming to surfing, and the conference aims to fan the flames,” said Jess Ponting, director of the Center for Surf Research. “This event comes on the heels of a collaborative book we just launched called
‘Sustainable Stoke: Transitions to Sustainability in the Surfing World.’ It was supported with contributions from 40 of the top leaders in surfing today and effectively centralized and formalized the start of a global conversation about sustainability in surfing. The Sustainable Stoke Conference will push this message forward.”
The event is supported by St Archer Brewing, Firewire Surfboards, Mizu Water Bottles and Sticky Bumps surf wax. The first day will include panels on cutting-edge sustainable technologies in surfboard blanks, resins and hardeners, fins, wetsuits, surf travel, surf contests, coastal engineering and surf parks. More than a dozen research papers will be presented on the second day of the conference by an international field of researchers from the U.S., the UK, New Zealand, Australia, the Netherlands and Canada.
The conference is open to the public. Registration is $35/$25 for adults/students and seniors for the first day, $30/$25 for Day 2 or $65/$50 for both days.
Chula Vistan Named Warden
At Chuckawall State Prison
Kimberly Seibel, 50, of Chula Vista, has been appointed warden at Chuckawalla Valley State Prison by Gov. Jerry Brown. Seibel has been acting warden at the prison, located in Blythe, since 2015. Seibel served in several positions at the Richard J. Donovan Correctional Facility from 1999 to 2015, including chief deputy warden, associate warden, captain, lieutenant and sergeant. She was a correctional officer at California Correctional Institution, Tehachapi from 1994 to 1999 and an office assistant at the California State Prison, Sacramento from 1993 to 1994. This position does not require Senate confirmation and the compensation is $143,604. Seibel is a Democrat.