Check KPBS interview of Duane Roth, the CEO of Connect.
According to Duane, the venture capital funding model for biotechs in San Diego will never be as before.
http://www.kpbs.org/news/2009/jul/31/san-diego-biotech-looks-new-approach/

Last Wednesday, Entrepreneur Magazine published a list of great cities to start your business and San Diego was ranked 4th after Las Vegas, Portland and Orlando, Florida.
Ranking factors were government incentives, population growth, affordability of commercial rents and openness to new ideas.