Building a Thriving Economy - SCVEDC’s 2024 Annual Report

2025 marks a major milestone for the Santa Clarita Valley Economic Development Corporation (SCVEDC)—our 15th Anniversary! Since our founding, we have worked tirelessly to attract businesses, create jobs, and strengthen Santa Clarita Valley’s (SCV) economy, making it one of the most business-friendly and economically vibrant regions in Los Angeles County.

This year’s Annual Report provides a comprehensive look at our impact, the trends shaping our local economy, and the exciting opportunities that lie ahead. Let’s take a closer look at the past year's economic wins and the vision for the future. SCVEDC continues to focus on business assistance, business attraction and retention, community marketing, and economic 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.

On March 11th, Ondre Seltzer, President and CEO of the Santa Clarita Valley Economic Development Corporation, released the 2024 SCVEDC Annual Report to the City Council. The report featured our organization's initiatives in business attraction and retention, business assistance, economic information and research, and workforce development. 

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 35:25 minutes.

2024 Business Wins: Attracting & Retaining Jobs in SCV

Business Attraction, Retention, and Expansion last year continued to support our new and existing companies and help them thrive. In 2024 the SCVEDC team helped facilitate 286 more jobs than in 2023. The past year alone has seen significant economic activity:

• IQVIA (previously Q² Solutions) finalized their move to Valencia Commerce Center with their 350 employees, consolidating their operations into a new 134,000 sqft state-of-the-art facility. A case study for this ongoing retention and workforce development project is in the works. This relocation secured these high-paying jobs for the Santa Clarita Valley despite strong competition from other regions, demonstrating SCV's ability to attract and retain major employers.
• Nycote Laboratories chose Santa Clarita as the location for its new headquarters, further solidifying our position as a hub for innovation and growth and adding to our vibrant aerospace and defense industry.

Throughout 2024, our strategic efforts centered on supporting the Santa Clarita Valley's existing businesses through targeted retention and expansion initiatives. Recognizing that fostering growth within our established companies is vital to maintaining economic stability and fueling local job creation, these efforts have proven highly effective, as evidenced by the robust pipeline of ongoing business assistance projects. Moving into 2025, we will sustain our commitment to these retention and expansion initiatives while simultaneously reinvigorating our attraction and site selection programs. By proactively reaching out to businesses seeking opportunities for relocation or expansion, we aim to further enrich our community’s economic landscape.

Currently, there are 1,890 potential jobs in the attraction, retention, and expansion pipeline of businesses SCVEDC is working with—a testament to Santa Clarita Valley's continuing appeal as a premier business destination. Companies continue to choose SCV for its exceptional workforce talent, state-of-the-art infrastructure, efficient and streamlined site selection processes, and unmatched quality of life, all of which position our community as one of Los Angeles County's most dynamic and business-friendly locations.

Investing in Workforce Development

At the heart of a thriving economy is a strong, well-trained workforce. SCVEDC is committed to ensuring businesses have access to the right talent for today’s economy.

• LiveWorkSCV.com connects job seekers with employers, providing a vital free resource for career growth.
• College of the Canyons and workforce training partners help address skills gaps in high-demand industries.

Our collaborations with local and regional organizations provide job training programs, career fairs, and hiring assistance to ensure SCV remains a top destination for talent. With technology and automation reshaping industries, we are working proactively to support upskilling and reskilling initiatives to prepare our workforce for the future of work.

Curious who the top employers are within the Santa Clarita Valley? Check out our annual Largest Employers List!

We partner with College of the Canyons (COC) and workforce training organizations to tackle skills shortages in high-demand sectors. Our collaboration with College of the Canyons focuses on developing customized workforce training programs based on the needs of local businesses.

• High Road Training Partnership (HRTP) Program: We continue to collaborate closely with COC and various businesses to develop a model for High Road Training through apprenticeships and pre-apprenticeships
• Employment Training Panel (ETP): The ETP, spearheaded locally by the Employee Training Institute at COC, provides funding to employers to assist in upgrading the skills of their workers through training that leads to good-paying, long-term jobs.  

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. The Spring Job Fair will be held on April 25th, 2024.

Economic Information & Research

Economic Outlook and Economic Snapshots

Every year, the SCVEDC, in partnership with the College of the Canyons, our board members, and numerous sponsors, hosts an Economic Outlook Forecast conference. 2024 was a big year for this event, with Ondre Seltzer taking over as President and CEO.

Dr. Mark Schniepp returned to provide the full economic forecast, providing vital information and updates on national, state, and local economies. Our keynote speaker, legendary entrepreneur, inventor, business strategist, and investor, Lori Greiner, star of ABC’s hit TV show Shark Tank, provided valuable insights on innovation, entrepreneurship, and navigating the ever-evolving business landscape. With her unparalleled expertise as a business strategist and investor, Lori brought a wealth of knowledge and inspiration to the table for attendees. Especially to the 90 William S. Hart High School District students who attended thanks to a generous sponsorship from the Baker Family Foundation!

The SCVEDC also releases quarterly snapshots of our local economy that include data on employment, household income, residential real estate, commercial real estate, retail vacancy, and more. Alongside these snapshots are exclusive podcasts with Dr. Schniepp and Ondre Seltzer as they delve deeper into current events and trends in our economy. Visit our Data + Information or Podcast pages to check them out!

The Future of SCV: A Vision for Continued Growth

As we look ahead, SCVEDC remains dedicated to strengthening the economy, fostering innovation, and driving business expansion.

• We will continue to attract and retain high-quality businesses
• We will invest in workforce development to ensure a skilled labor force
• We will collaborate with city and county officials to enhance economic opportunities

SCVEDC Board of Directors

The success of Santa Clarita Valley’s economy would not be possible without strong collaboration between public and private sectors. 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.

We want to recognize our business leaders, community partners, and local officials who have contributed to SCV’s economic growth. Their investments and efforts have shaped a thriving, sustainable business environment. A special thank you to Los Angeles County, the City of Santa Clarita, our industry partners, and SCVEDC’s Board of Directors for their dedication to economic development and job creation.

 New Board members in 2024:

• Matt Dierckman, Executive Vice President - Colliers International
• Maria Higgins, VP, Corporate Controller - Scorpion
• Todd Sword, Economic Developer - SoCal Edison
• John Vance, Founder, - Vance Wealth

• Marcie Washburn, CEO & President - Nycote Laboratories

  
  

SCV is not just growing—it’s thriving. The investments we make today will define the prosperity of our region for decades to come.

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.