Oct 13, 2022 9:35:47 AM | by Scott Heffernan | in SCVEDC, Business Attraction, Economic Development, Business Expansion
Santa Clarita Valley's Largest Employers of 2022
Honoring Santa Clarita Valley's Largest Employers
The Santa Clarita Valley is a growing region with significant opportunities for businesses including available, state-of-the-art industrial and commercial buildings in master planned developments. Despite the challenges of the last two years, 2022 was a successful year for many companies, and there were several attractions and expansions across our target industry clusters. Through our research for the Economic Outlook Forecast, we compiled the Santa Clarita Valley Largest Employer's List illustrating some remarkable growth this past year.
Sep 21, 2022 11:35:56 AM | by Scott Heffernan | in Economic Development, New Development, SCV Economic Outlook Conference
The 2022 Economic Outlook Forecast
Designed to provide attendees with an economic analysis and outlook for the coming year, the 2022 Economic Outlook Conference included global, national, and state perspectives, while focusing primarily on the trends and issues associated with the Santa Clarita Valley and the surrounding business community. Alongside the conference the SCVEDC also releases it's Outlook Book, containing more in-depth data and economic forecast information.
Summary Overview:
Our population continues to grow steadily and we built almost 2000 new homes in the last 3 years alone. It's expected to average 0.8% per year through 2027, increasing by approximately 12,000 residents.
Meanwhile, our jobs base has also grown as we've built millions of square feet of new industrial, commercial, and retail space.
We have nearly recovered all the jobs lost during the pandemic and our job creation rate is still up, having added approximately 5,200 jobs in 2022 alone. Many of these jobs were in the hardest hit industries in the Santa Clarita Valley by the Coronavirus Recession.
The rate of job growth exceeded the rate of population growth.
Industrial vacancy is at zero, but commercial office space is expected to steadily recover. There are millions of square feet of mixed-use space under current construction, already approved, or awaiting approval.
Inflation has likely peaked and should normalize by the end of 2023. While overall growth predicted for this year has been downgraded, and stagflation is a continued concern, a bona fide recession is not likely at this time according to Schniepp.
Aug 17, 2022 2:27:40 PM | by Scott Heffernan | in Good location for business, Economic Development
New Extension in Film Tax Credits Is Good News for Santa Clarita
New extension of Film & TV Tax Credit will support continued growth already seen in SCV film industry.
When people think filming television and movies, of course Hollywood and Los Angeles are the first to come to mind. Santa Clarita Valley however is one of the most filmed locations in the State, and that includes LA. Santa Clarita is consistently one of the most filmed places in California because it's located within the industry's well-known 30-Mile Zone and offers thousands of film-friendly locations that can double for almost anywhere in the world. Throw in a City Film Incentive Program, Movie Ranch Overlay Zone, low-cost permit fees and expedited permit processing, and it's easy to see how we recently broke our own record this year by generating over $40 million in economic impact!
California has long been known as the entertainment capital of the world, and one of the ways the state has been working to keep filming here is through the Film & Television Tax Credit Program. The program has been shown to generate $24 in economic activity for every $1 invested – spurring tens of billions of dollars in economic output, helping create over 110,000 jobs, and bringing shows and films to California. In July of last year, Governor Gavin Newsom expanded The legislation expands the current film credit program with a $180 million increase over two years and an additional one-time $150 million incentive to be used over multiple years for the construction of certified motion picture soundstages – building out studio infrastructure to keep pace with the growth in production.
Aug 10, 2022 9:30:00 AM | by Santa Clarita Valley EDC | in Good location for business, Economic Development
Valley 200 List Recognizes SCVEDC BOD Members and CEO
The SCVEDC would like to congratulate everyone who made this years list of most influential leaders in the region, including our own President & CEO - Holly Schroeder. Several members of the Santa Clarita Valley Economic Development Corporation's Board of Directors have also been named to the San Fernando Valley Business Journal's Valley 200 list announced on August 1st.
"[The Valley 200 list] is 200 people we consider the most influential in our area - the San Fernando, Conejo, Santa Clarita, Simi and Antelope valleys," writes Charles Crumpley, SFVBJ publisher and editor, in the August 1st, 2022 edition of the bi-weekly business publication. "They are the leaders we depend on, the ones whose work – whether at the office or in nonprofits or in other ways –improve our community and make our local economy sturdier. [W]e also tend to select those who are active – in professional, political and community organizations."
Jun 29, 2022 8:33:41 AM | by Scott Heffernan | in Business Attraction, Good location for business, Economic Development, New Development
Honor Ranch Development Project Takes Next Steps
The Honor Ranch Site (Honor Ranch) is a potential development located in a County-owned vacant lot in the Santa Clarita Valley. This 206-acre plot along the eastern edge of the I-5 (north of the Castaic Junction) offers an excellent opportunity for a new jobs-creating development. It consists of a large contiguous land area with high visibility and freeway access.
The location has been identified as a potential development site for years. A motion was introduced by 5th District Supervisor Kathryn Barger on June 14, 2022 that enters LA County into an exclusive negotiation phase for the project. The "Honor Ranch Development Project" has now moved further in the process than ever before towards making this project a reality.
Trammell Crow Company (TCC) was chosen as the preferred developer for a 1.8 million SF project consisting primarily of new industrial facilities. TCC will work closely with LA County Public Works on the pre-development phase, as well as negotiating a final agreement. Honor Ranch has great potential to bring more high quality jobs to our valley, allowing more residents in our expanding population to live and work right here in SCV!
Mar 22, 2022 2:29:14 PM | by Scott Heffernan | in Business Services Santa Clarita Valley, Economic Development, Business Parks, New Development
SCVEDC Announces 2021 Power Brokers in Commercial Real Estate
Congratulations to the Top Power Brokers!
The Santa Clarita Valley Economic Development Corporation (SCVEDC) invests not just in growing our local businesses, but attracting great companies to the region with a focus on industries that provide our residents with high quality, high paying jobs.
Bringing these businesses to our community takes a combined effort from the SCVEDC and our partners in economic development, and of
course, from the tireless commercial real estate brokers who work hard to get these businesses set up at the right location that works for them. Each year we recognize the top commercial real estate brokers active in the Santa Clarita Valley, who will be honored this week at a private breakfast event.
Mar 15, 2022 9:45:00 AM | by Scott Heffernan | in Business Incentives, Economic Development, Business Parks, Business Expansion
SCVEDC Releases Adept Fasteners Case Study
Adept Fasteners expands to their new home in Valencia Commerce Center
SCVEDC's recent case study about Adept Fasteners provides a look at the company's objectives and space needs. The case study illustrates their reasoning behind the decision to expand their operations in the Santa Clarita Valley by designing a custom layout facility. Adept Fasteners provides engineering fastener solutions for the global aerospace and defense industry. The company offers customized inventory solutions supported by technology to meet customers' production needs and delivery times. Adept is an approved supplier for top names in the industry, including Lockheed Martin, Boeing, Northrup Grumman, Raytheon Technologies, and more.
Mar 8, 2022 10:25:57 AM | by SCVEDC Staff | in Economic Development, Santa Clarita Valley Quality of Life, Business Expansion, Business Assistance
2021 SCVEDC Annual Report
The COVID-19 pandemic brought both health implications and serious economic ones, extending into its second year in 2021 as the Santa Clarita Valley Economic Development Corporation celebrated its 11th anniversary. The SCVEDC continued supporting SCV businesses as they navigated public health orders, supply chain snarls, hiring challenges and the emergence of inflation. SCVEDC continues to focus on business assistance, business attraction and retention, community marketing, and providing quality information and data. The vast diversity of businesses in the Santa Clarita Valley has established a strong foundation for its future economic security.
Nov 9, 2021 9:26:44 AM | by Holly Schroeder | in Business Incentives, Good location for business, Economic Development, Santa Clarita Valley
Five Reasons Why Santa Clarita Valley is Business Friendly
As we celebrate the City of Santa Clarita's nomination once again as a business-friendly city by the Los Angeles Economic Development Corporation, it's a good time to reflect on what makes the Santa Clarita Valley so business friendly.
Oct 6, 2021 9:37:17 AM | by Scott Heffernan | in SCVEDC, Business Incentives, Good location for business, Economic Development
Santa Clarita Named Finalist for LAEDC "Most Business Friendly City" Award
City of Santa Clarita among 10 finalists for this year's "Most Business Friendly City" Award
It's been another banner year for Santa Clarita in terms of achievements and growth. Through a lot of hard work and collaboration, the citizens and businesses of SCV have really risen to meet the challenges of the last 18 months. As we heard from economist Dr. Mark Schniepp at our Economic Outlook Forecast, Santa Clarita is well on its way in terms of recovery. One of the biggest factors in growth and economic recovery is for your businesses to thrive. The City of Santa Clarita has once again been named as a finalist in the Los Angeles Economic Development Corporation's (LAEDC) award for "Most Business Friendly City" in LA County. As Los Angeles County's third largest city, Santa Clarita continues its commitment to maintain a healthy business environment for current and future companies, proactively promoting business-friendly programs and services--a critical factor in job creation. With award criteria including prioritizing and supporting business recovery, reinvention, growth and hiring throughout the COVID-19 pandemic, it's no surprise that we made the short list.
Sep 22, 2021 2:04:31 PM | by Scott Heffernan | in SCVEDC, Economic Development, SCV Economic Outlook Conference
2021 Economic Forecast Predicts Growth & Recovery
The economic shutdown due to the COVID-19 pandemic coincided almost perfectly with the Santa Clarita Valley Economic Development Corporation's previously scheduled, and ultimately canceled, Economic Outlook on March 12, 2020. With rapidly changing mandates and an uncertain economic climate, we transitioned to hosting a September 2020 virtual event, with an additional virtual update in March of this year. Last Friday marked the highly anticipated return of the SCVEDC's Outlook to a hybrid in-person and virtual event, hosted at the Santa Clarita Performing Arts Center at College of the Canyons.
Aug 4, 2021 12:07:48 PM | by Scott Heffernan | in Digital Media & Entertainment, Business Incentives, Good location for business, Economic Development
Keep Those Cameras Rolling: California's $330 Million Increase in Film and Tax Incentives
In a smart move to keep California's signature industry thriving in-state, legislators earlier this month voted to increase both film and television tax incentives by another $330 million. The new bill was signed into law on July 22 by Governor Newsom, and has two primary features. The currently available $330 million is being bolstered with an additional $180 million, bringing the annual film tax incentive program total to $410 million. The entirely new component now adds $150 million, allocated towards the construction of soundstages in an effort to meet the ever-growing demand for these studio facilities. These changes could prove vital to meet California's film and television needs, stop production jobs from leaving the state, and potentially coax studios to return that had jumped ship for more enticing offers in other states.
Jul 30, 2021 10:00:00 AM | by Sue Arellano | in Economic Development, Business Assistance
The 2021 Employee Retention Tax Credit
Has your business been disrupted due to COVID-related governmental orders? With the many COVID-19 pandemic challenges endured by small to mid-sized businesses, there is some good news. The newest 2021 Employee Retention Tax Credit (ERTC) program provides eligible businesses with a fully refundable, advanceable tax credit on qualified employee wages, and opens the ERTC program to PPP borrowers for the first time.
Jul 28, 2021 9:32:10 AM | by Holly Schroeder | in SCVEDC, Good location for business, Economic Development, Santa Clarita Valley Quality of Life, Workforce
Safe, Ambitious, and Ready for Business
Santa Clarita ranks top 10 in safety, as well as the 4th most ambitious and business ready city in the nation.
Santa Clarita has recently been recognized as being one of the safest cities of its size in the country, and for being one of the most business ready. While it may not seem obvious at first, these two endorsements go hand in hand. They result from deliberate efforts to grow the number and quality of jobs in the Santa Clarita Valley in order to provide great opportunities for residents.
Jul 14, 2021 11:49:15 AM | by Sue Arellano | in Business Incentives, Economic Development, Business Assistance
GO-Biz Hosting Webinars for Businesses Interested in Applying for $284 Million in Tax Credits
Complete List of Upcoming Webinars
Details and Registration
Jun 16, 2021 1:44:02 PM | by Holly Schroeder | in Business Incentives, Economic Development, Business Parks, Business Expansion, Trammell Crow Company
SCVEDC Releases DrinkPAK Case Study
DrinkPAK Brings 275 Jobs to the SCV Over the Next Four Years
SCVEDC's recent case study about DrinkPAK provides a look at the company's objectives and space needs. The case study illustrates their reasoning behind the decision to relocate to the Santa Clarita Valley and the company's further expansion. DrinkPAK, the premier West Coast alcoholic and non-alcoholic beverage manufacturer, currently occupies 572,419 SF at the Center at Needham Ranch Industrial Park. Through its high efficiency production lines, this location houses procurement support, complex batching and processing, filling, packaging, and on-site storage and distribution.
May 5, 2021 9:02:36 AM | by Press Release | in Business Attraction, Economic Development, Business Parks, Business Expansion, Trammell Crow Company
DrinkPAK Already Expanding in the SCV
DrinkPAK Now Occupies More Than 572,000 Square Feet in Needham Ranch
Six months after signing its first lease in the Center at Needham Ranch (CANR) industrial park, DrinkPAK, the premier West Coast alcoholic and non-alcoholic beverage manufacturer, is already expanding its footprint in Santa Clarita, California.
Currently, DrinkPAK leases 172,324-square-foot at (CANR) and just this week signed two more leases for an additional 400,095-square-feet, bringing their total space occupied to 572,419-square-feet. This location will house the company's procurement support, complex batching and processing, filling, packaging, and on-site storage and distribution.
May 4, 2021 10:31:09 AM | by Holly Schroeder, President & CEO, SCVEDC | in SCVEDC, Business Incentives, Economic Development, Business Assistance
A Silent Investor in Growing Your Economy: Economic Development
Celebrating Economic Development Month
Many times the work of economic developers goes unnoticed and cruises under the radar. And that's okay! Being a silent investor in a region's economic well-being and quality of life is rewarding in itself and in May is celebrated by Economic Development month.
It is an honor for our business development team at the Santa Clarita Valley Economic Development Corporation (SCVEDC) to serve this region and help drive economic growth in our economy. The SCVEDC advances a valley-wide mission to grow jobs in target sectors of film and digital media, aerospace, technology, medical devices, advanced manufacturing, and corporate services. Now more than ever, a thoughtful, integrated approach to economic development is critical to growing and sustaining quality jobs.
Apr 13, 2021 3:57:21 PM | by Holly Schroeder | in SCVEDC, Business Attraction, Economic Development, Business Expansion
Santa Clarita Valley's Largest Employers 2021
The Santa Clarita Valley is a growing region with significant opportunities for businesses including available, state-of-the-art industrial and commercial buildings in master planned developments. Despite the challenges, 2020 was a successful year for many companies, and there were several attractions and expansions across our target industry clusters. Through our research for the Economic Outlook Forecast, we compiled the Santa Clarita Valley Largest Employer's List illustrating some remarkable growth this past year.
Mar 17, 2021 12:53:37 PM | by Press Release | in Business Attraction, Economic Development, Business Parks, Business Expansion, Business Assistance
Navigate Your LA County Project with Ease - LA County Connect
Keeping Your LA County Project On Track Through LA County Connect
One of the primary keys to a Commercial Development project is staying on track and maintaining the proposed schedule. This can be challenging when navigating the many agencies and departments in Los Angeles County. Now through LA County Connect, Santa Clarita developers and design professionals can receive expert advice and guidance – tailored specifically for Commercial Development projects in Plan Review. Developers can preview plans, discuss process and timing, and get the answers needed from LA County departments in a timely manner!
Mar 10, 2021 8:05:00 AM | by Holly Schroeder, President & CEO, SCVEDC | in Economic Development, Santa Clarita Valley Quality of Life, Business Expansion, Business Assistance
The COVID-19 pandemic brought both health implications and serious economic ones. In 2020, the Santa Clarita Valley Economic Development Corporation celebrated its 10th anniversary, and the work of the organization has never been more vital! SCVEDC continues to focus on business assistance, business attraction and retention, community marketing, and information and data. Despite the numerous obstacles of the past year, there are many bright spots; most notably, the incredible support, innovation, and resiliency of our business community, including the many SCV companies that quickly pivoted to manufacture PPE and sanitizers, or offered their teams in volunteer capacities.
Feb 1, 2021 8:30:00 AM | by Holly Schroeder | in Digital Media & Entertainment, Business Attraction, Economic Development, Santa Clarita Valley Quality of Life, Business Parks, Business Expansion, New Development, Advanced Manufacturing
Industrial Market in SCV Never Missed a Beat
While the COVID-19 crisis initially gave many companies pause for good reason, 2020 was an exceptionally good year for industrial real estate across the board, the Santa Clarita Valley included. In 2020, the SCVEDC was pleased to announce that several new companies chose to locate in the Santa Clarita Valley including two Amazon fulfillment centers, DrinkPAK, a beverage manufacturer, and a state-of-the-art medical testing lab. Several SCV companies expanded as well, including P3 Inc., LA North Studios, Lief Labs, 24/7 Events and Mellady Direct Marketing.
Jan 25, 2021 8:00:00 AM | by Holly Schroeder | in Economic Development, Workforce, Santa Clarita Valley
Santa Clarita Valley's Medical Professionals Rise to the Challenge
There is no doubt that 2020 was a challenging year for all, but most especially those on the front lines caring for those who are gravely ill with COVID-19. It was hard to predict in March how our region would be affected, but those heading up the medical response had been preparing for something like this for a long time.
Dec 9, 2020 1:49:15 PM | by Holly Schroeder | in Business Incentives, Economic Development, Business Assistance
GO-Biz Hosting Webinars for Businesses Interested in Applying for $80 Million in Tax Credits
GO-Biz Hosting Webinars for Businesses Interested in Applying for
$80 Million in Tax Credits
Have you heard about the California Competes Tax Credit? It's a state income tax credit supporting growth of high quality jobs in California, available to businesses who want to come to, stay in, or grow in our state. Through a two-phase process, businesses apply and compete for this credit during three application periods each fiscal year.
Dec 1, 2020 10:25:25 AM | by Holly Schroeder | in SCVEDC, Economic Development, Business Assistance
Three Important Online Resources Offered by SCVEDC
The Santa Clarita Valley Economic Development Corporation is an organization dedicated to attracting, retaining, and growing business opportunities for the Santa Clarita Valley. That mission is more important than ever. While most of our usual face-to-face meetings are temporarily on hold during the COVID-19 pandemic, SCVEDC has many online resources to help your company with a variety of issues you may face. Here are just a few free resources to help your business:
Nov 20, 2020 8:54:10 AM | by Press Release | in Business Incentives, Economic Development, Business Assistance, Covid 19
The City of Santa Clarita and SCVEDC Award Local Small Businesses with COVID Relief Grants
The City of Santa Clarita and Santa Clarita Valley Economic Development Corporation (SCVEDC) are excited to announce that 149 small businesses within the Santa Clarita Valley were approved to receive a one-time financial reimbursement for COVID-related expenses of up to $5,000 per individual business, as a part of the Santa Clarita Small Business COVID Relief Grant.
Interested applicants began receiving their approval or denial letters beginning on Thursday, November 19. Verified eligible businesses that have met all specified grant qualifications and requirements can expect to receive grant funds by the end of the year.
Oct 8, 2020 11:16:35 AM | by Press Release | in Economic Development, Workforce
Holly Schroeder Named Chair of the L.A. County WDB
Holly Schroder named Chair of the Los Angeles County Workforce Development Board
Holly Schroeder, President and CEO of the Santa Clarita Valley Economic Development Corporation (SCVEDC) has been selected by fellow Workforce Development Board Commissioners to serve as Chair of the Los Angeles County Workforce Development Board (WDB).
Sep 21, 2020 2:49:09 PM | by Holly Schroeder | in Economic Development, New Development, SCV Economic Outlook Conference
The NEW 2020 Economic Outlook Forecast
The economic shutdown due to the COVID-19 pandemic coincided almost perfectly with the Santa Clarita Valley Economic Development Corporation's previously scheduled, and ultimately canceled, Economic Outlook Forecast on March 12. In the six months that have ensued, SCVEDC's economist, Dr. Mark Schniepp of California Economic Forecast has been keeping a close eye on the rapidly evolving economic impacts of the shutdown on a national, state and local level. On September 17, 2020, Schniepp presented a revised Economic Outlook Forecast at our rescheduled virtual conference. Though an economic recovery is underway, he predicts it will proceed slowly for the rest of the year and that full recovery will be out of reach until a vaccine or cure for COVID-19 is widely available.
Aug 12, 2020 9:58:04 AM | by Holly Schroeder | in Economic Development, Business Assistance
Southern California Edison's Wildfire Mitigation Plan
Since many businesses experienced SCE power shutoffs last year, SCVEDC has been communicating with officials at the organization about its fire prevention and mitigation plans.
Earlier this year, Southern California Edison announced plans to inspect thousands of miles of power lines, remove trees as necessary in high-risk areas, and segment certain components of power lines as part of a $582 million Wildfire Mitigation Plan. These improvements greatly reduce the likelihood of wildfires and preemptive, public safety power shutoffs (PSPS) in SCV business parks.
Jul 29, 2020 10:20:30 AM | by Sue Arellano | in Business Attraction, Good location for business, Economic Development
Riedel Communications Brings North American Headquarters to SCV
The Santa Clarita Valley Economic Development Corporation is pleased to announce that Riedel Communications is relocating its North American headquarters to the Santa Clarita Valley. Riedel Communications designs, manufactures, and distributes innovative real-time networks for video, audio and communications. Its products are used for broadcast, pro-audio, event, sports, theatre and security applications worldwide.