SCVEDC Blog

The SCVEDC is proud to celebrate the recent achievements of two of its team members: Dr. Jey Wagner (President & CEO) and Ondre Seltzer (VP, Workforce & Economic Development). Dr. Wagner's appointment to the Board of Directors for Team California highlights his dedication to the growth and retention of businesses in the Golden State. With a strong background in Foreign Direct Investment and working closely with international clients, Ondre Seltzer's addition to the Maple Business Council further strengthens the SCVEDC's commitment to fostering global relationships. These appointments reflect the SCVEDC's ongoing efforts to attract and retain businesses in the Santa Clarita Valley, showcasing the team's dedication to driving economic growth and innovation in the region.

On Tuesday night Holly Schroeder, President & CEO of the Santa Clarita Valley Economic Development Corporation, released the 2022 SCVEDC Annual Report to the City Council. It featured our organization's business attraction and retention, business assistance, economic information & research, and community marketing efforts.

Click here for the presentation slides, and read below for more details!

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.

 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.

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. 

The New Economic Outlook - A Slow and Bumpy Recovery on the Way?

SCVEDC recently hosted a webinar with Dr. Mark Schniepp from the California Economic Forecast to get an update on the current state of the economy and learn what has changed over the past few months. This webinar was part of a series co-hosted with the SCV Chamber and funded in part by a grant from the Wells Fargo Foundation. Here is a brief recap of the New Economic Outlook as presented by Dr. Schniepp:

Ok Boomer – Make Way for the Rise of the Millennials

It’s a little-known fact, but Millennials make up the largest generation in the U.S. and California. In 2018 there were 11.2 million Millennials in the state and fewer than 9.3 million people in any other generation. Millennials are also the largest generation in SCV at 81,000, placing them ahead of the 76,000 Baby Boomers.

SCVEDC Hosts Annual Economic Outlook Forecast

Even though economist Dr. Mark Schniepp of California Economic Forecast said to expect a “boring economy” in 2019, SCVEDC’s annual Economic Outlook was anything but. With tickets selling out nearly five weeks before the event date, Holly Schroeder, President & CEO of SCVEDC gave a warm welcome to over 400 attendees that crowded into the ballroom at the Hyatt Regency Valencia. 

Join us for the 2019 Economic Outlook Conference on March 14

Are you wondering where to get a sneak peek into the economy of the Santa Clarita Valley, the state of California, the United States, and the world? Does your company rely on accurate and up-to-date demographic data for the region? Are you interested in how growth and development will shape Santa Clarita in 2019 and beyond? If you answered yes! to any of these questions, you need to attend our 2019 Economic Outlook Conference!

SCVEDC Hosts Annual Economic Outlook Forecast

March 8, 2018 – Tournament Players Club Valencia (Valencia View Room)

The skies were sunny and so was the economic outlook for our region at the annual Economic Outlook Forecast Conference held on Thursday, March 8.

The speaker lineup that addressed the full house included:

• Futurist and innovation speaker Robert Tucker of Innovation Resource Consulting Group
• Los Angeles County Supervisor, Kathryn Barger
• Economist Dr. Mark Vitner of Wells Fargo
• Scott Williams, Executive Producer of NCIS
• COC Chancellor, Dr. Dianne Van Hook
• Economist Dr. Mark Schniepp of the California Economic Forecast
• SCVEDC President & CEO Holly Schroeder

This year’s conference had a record number of sponsors AND attendees! Held at a new temporary event venue (called the Valencia View Room) on the grounds of the Tournament Players Club, event participants were treated not only to the latest economic data for the Santa Clarita Valley but also spectacular views of the entire valley.

We are excited to announce our newest speaker for this year's Economic Outlook Conference! Scott Williams (pictured far left) is a producer and writer best known for his work on Santa Clarita Valley-basedNCIS, which has been on the air and filming in the SCV since 2003. In addition, he has worked on Miami Medical (2010) and Third Watch (1999).

Demand for Industrial Space Hottest in Years

The Santa Clarita Valley industrial market is heating up, with a growing number of companies acquiring new warehousing, manufacturing, and logistics space. At the same time, builders are beginning to complete some large-scale projects, creating an environment that is dynamic and rapidly changing.

Join us for the 2018 Economic Outlook Conference on March 8

Are you wondering where to get a sneak peek into the economy of the Santa Clarita Valley?...