2023 SCVEDC Annual Report

After 13 years of collaborative efforts within our community, the work of the Santa Clarita Valley Economic Development Corporation (SCVEDC) continues to be crucial to our region's growth. SCVEDC continues to focus on business assistance, business attraction and retention, community marketing, and information and data. Despite the numerous obstacles of the past few years, there are many bright spots; most notably, the incredible support, innovation, and resiliency of our business community.

Last Tuesday night Dr. Jey Wagner, President & CEO of the Santa Clarita Valley Economic Development Corporation, released the 2023 SCVEDC Annual Report to the City Council. It featured our organization's business attraction and retention, business assistance, economic information & research, and workforce development initiatives. 

Click here for the presentation slides, and read below for more details. To see the presentation to the City Council on SCVTV, click below and skip to 12:00 minutes.

BUSINESS ATTRACTION, RETENTION & EXPANSION

Business Attraction, Retention, and Expansion last year continued to support our new and existing companies and help them thrive. In 2023 the SCVEDC team helped facilitate 248 more jobs than in 2022.

Here are some highlights of key attractions and expansions over the last year (minus ongoing activities and efforts):

• Vallarta Supermarkets (March 2023) purchased 3 buildings in the Valencia Industrial Center, near the Advanced Bionics HQ. They have begun their transition from the San Fernando Valley, which will eventually add ~220 jobs when their new HQ is fully staffed. These jobs are anticipated to generate approximately $100 million in annual economic output, including $750,000 in local (City and County) annual tax revenue.
• Q² Solutions will be moving locations to the Valencia Commerce Center with their ~300 employees, into the previous Perkin-Elmer COVID testing building.
• AT² Aerospace (May 2023) chose to locate their headquarters here, where they will function as the design, development, and engineering base for the company (Located above the Bridgeport Marketplace).
  • AT²  is developing airship solutions to support commercial and humanitarian applications around the world. The development of airships is anticipated to provide new freight alternatives for shippers, as well as the ability to reach remote locations efficiently.

• Avon Rents (June 2023) under new ownership, the one-stop vehicle rental company that has served the Greater Los Angeles area for over 40 years, decided to relocate their headquarters from Hollywood to the Saugus Station industrial complex.

  • Their fleet primarily serves the film industry with production trucks and trailers. In less than a year since their move, they have more than doubled their staff, simultaneously training and upskilling their maintenance workers to retrofit certain vehicles to become one hundred percent electric. Avon plans to continue to expand within the Santa Clarita Valley.
    

• DrinkPAK (May 2023) expanded their SCV footprint again, leasing out the remaining buildings at Needham Ranch. Totaling a 6-building campus of 965,000 SF.

• Shadowbox Studios (September 2023), a project the SCVEDC has long advocated in favor of, was approved by the City Council in August for their proposed 93-acre full-service film and television studio with 19 soundstages and its supporting facilities.

  • 2,000+ "Direct/Permanent" onsite jobs
  • ~4,000 "Direct/Indirect/Induced Permanent" operations jobs
  • $1.0 billion+ in estimated annual economic impact

Workforce Development Initiatives

The focus of economic development on talent attraction and workforce development initiatives has continued to grow and is more crucial than ever. In today's labor market, companies are doing everything they can to maintain their current staff, while simultaneously competing with other businesses for top talent. Through our business ecosystem, SCVEDC supports employers of all sizes to train their workforce and position themselves for the future. Our vision is to create an integrated, cost-effective workforce development system that prepares future and current employees with the skills needed for successful careers at SCV companies.

We continue to work with various community partners, the Hart School District, College of the Canyons, and other educational providers, to ensure that workforce training programs are tailored to companies' changing needs. We've continued to meet and work with local employers in sectors like entertainment, healthcare, manufacturing, and aerospace, to inform them of current workforce opportunities and discuss ways to better assist their growth.

Logix Case Study (September 2023)

Logix Federal Credit Union provides a shining example of how a cultural commitment to employee training and career development delivers stunning results: improved morale, employee retention, and promotional advancements. In a time where businesses both large and small struggle to retain and attract needed talent, Logix has found that investing in their own employees delivers bottom-line results.

Though training programs cost time and money, Logix has tapped into a wealth of financial support through state-subsidized training pathways, available through resources right here in the Santa Clarita Valley.

LiveWorkSCV.com has continued to be a go-to resource, connecting SCV companies to SCV talent. This comprehensive, highly visible job board matches Santa Clarita Valley career opportunities with residents who want a job closer to home. The SCVEDC continued to partner with the City of Santa Clarita, College of the Canyons, the Chamber of Commerce, and LA County's America's Job Centers of California, to host two valley-wide job fairs. Another job fair will be held in the late spring of 2024.

ECONOMIC INFORMATION AND RESEARCH

Economic Outlook and Economic Snapshots

Every year the SCVEDC, in partnership with College of the Canyons, our board members, and numerous sponsors, hosts an Economic Outlook Forecast conference. 2023 was a big year for this event, with Dr. Jey Wagner taking over the role of President & CEO. SCVEDC economist Dr. Mark Schniepp returned to provide the full economic forecast, providing vital information and updates on national, state, and local economies. Futurist Jack Uldrich provided invaluable takeaways about future trends, change management, emerging technologies, and the necessity of embracing innovation.

Dr. Schniepp also works with the EDC to put out quarterly snapshots of our local economy that include data on employment, household income, residential real estate, commercial real estate, retail vacancy, and more. Alongside the quarterly snapshots will be exclusive podcasts with Dr. Schniepp and Dr. Jey Wagner, as they delve deeper into current events and trends in our economy. Visit our Data + Information page to check them out! 

Community Marketing

In 2023, SCVEDC continued to promote the business-friendly SCV's many accolades and desirability as a prime location to live and work to site selection professionals and business leaders who are considering expanding or relocating their companies. The SCV's quality of life is unmatched and the community is well-positioned for growth in both the commercial and residential sectors for years to come.

SCVEDC Board of Directors

Despite the challenges of the last few years, we are fortunate to live in a community that cares about supporting businesses and places an emphasis on ensuring a high quality of life for its residents. The Board of Directors of the Santa Clarita Valley Economic Development Corporation is steadfast in its commitment to support economic development efforts that will help the Santa Clarita Valley remain an ideal live/work/play location for years to come.

 New Board members in 2023:

• Adam Browning, President - New Urban West
• Jeff Harris, Interim Park President - Six Flags
• Kevin Klockenga, President & CEO - Henry Mayo Newhall Hospital
• Stephanie Wallace, Director, Business Development - Mellady Direct Marketing

• Bryan Touchstone, Senior General Manager - Centennial REC

• Philip Tsui, Senior Vice President - Trammell Crow Company

The Santa Clarita Valley Economic Development Corporation (SCVEDC) is a unique private / public partnership representing the united effort of regional industry and government leaders. The SCVEDC utilizes an integrated approach to attracting, retaining and expanding a diversity of businesses in the Santa Clarita Valley, especially those in key industry clusters, by offering competitive business services and other resources.