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Discovering the Opportunities

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Discovering the Opportunities LABOR, LIFESTYLE, LOS ANGELES ALL WITHIN REACH! 2008 ECONOMIC ROUNDTABLE REPORT Table of Contents Introduction ■ THE GREATER ANTELOPE VALLEY The Greater Antelope Valley Area Profile 1 The Antelope Valley is an extensive economic region encompassing some 3,000 Map 1 square miles that includes portions of two (2) counties and five (5) incorporated cities. Now home to some 460,000 residents, the Antelope Valley is rapidly ■ DEMOGRAPHICS evolving into a stronger and more influential economic region. Its size is larger Population Detail 2 than the state of Connecticut and is diverse in resources, topography and climate. Comparisons 3 The Antelope Valley continues its heritage as one of the premier aerospace flight Antelope Valley Cities 4-9 test and research resources in the nation, while maintaining agricultural roots as Rural Areas 9 the largest agricultural producer in Los Angeles County of a number of crops. The ■ ECONOMY retail market continues to develop and is rapidly becoming home to a number Major Employers/Industries 10 of the nation’s leading retailers. The region’s industrial market is coming of age, Workforce 10 offering hundreds of thousands of square feet of brand new state-of-the-art facilities Average Salary by Industry Sector 11 for lease or purchase. Inventory of available land is plentiful and affordable, with a Cost of Doing Business 12 location close to the amenities offered in the Los Angeles Basin. Transportation 13 The Antelope Valley provides a fertile environment for economic growth and offers Enterprise Zone 14 a wide range of benefits to businesses seeking to re-locate or expand into the area. Foreign Trade Zone 14 The tax savings and incentives provided within the Enterprise and Foreign Trade Business Lending - Zones, together with affordable land, will lessen the impact of relocation or start- California Statewide CDC 15 Business Parks/Industrial Space 16-17 up costs and provide forward-thinking companies a better profit margin in the Retail Sales 18 years ahead. An Antelope Valley business can also take advantage of the available Area Business Loans 19 skilled and educated labor pool that includes some 60,000 commuters, together Film Activity 20 with clean air and a quality of life that is hard to duplicate elsewhere! Agriculture 20 This report is made possible through the efforts and support of the GAVEA Aerospace 21 membership, a dedicated group of business and civic leaders partnering with our cities and counties. Our members recognize that our economy is too important to ■ HOUSING leave to chance and have invested their time and expertise in supporting GAVEA’s 2007 Housing Summary & vital role in attracting and retaining wealth-producing jobs within the Greater House Sales 22-23 Antelope Valley. 2007 Building Permits/Values 24 ■ HEALTH CARE Harvey Holloway George Atkinson Hospitals 25 Chairman Economic Roundtable Report Chairman of the Board Health Services 26 Greater Antelope Valley Greater Antelope Valley Economic Alliance Economic Alliance ■ EDUCATION Public Schools 27-28 Private Schools 28 Special thanks to Community Colleges/ the following: Universities 29-30 June Burcham Kaiser Permanente ■ QUALITY OF LIFE Harvey Holloway Community Life 31-32 Coldwell Banker Air Quality 31 Commercial Realty Water 31 Laurel Shockley 42060 10th Street West Weather 31 Southern California Edison Lancaster, CA 93534 Mel Layne, President 661/945-2741 ■ MEMBERSHIP Inside Back Cover Greater Antelope Valley Economic Alliance 661/945-7711 fax Cheryl Rose [email protected] ■ SPONSORS Outside Cover LAEDC [email protected] AREA PROFILE TOTAL POPULATION OF RidgecrestRid cr s GREATER ANTELOPE VALLEY REGION 462,272 TEHACHAPI MTNS Bakersfield Randsburg ANNUAL GROWTH 2007-2012 Projected 509,727 10.27% 2000-2007 Estimated 462,272 15.97% California City 2000 Census 398,598 20.25% 1990 Census 331,464 Tehachapieh ch pi Mojave POPULATION BY ORIGIN Edwards Boron EDWARDS AIR FORCE BASE Not Hispanic or Latino 318,323 68.86% Barstow Hispanic or Latino 143,949 31.14% Rosamond POPULATION BY RACE Lake Hughes Lancasteraster White Alone 280,350 60.65% Lake Elizabeth Quartz Hill Green Valley Leona Palmdalea m ale Lake Black/African American Alone 63,358 13.71% Valley Los Angeles Castaic Santa Littlerock American Indian/Alaskan Native 5,196 1.12% Clarita Acton Pearblossom Asian Alone 15,712 3.40% Valencia Newhall Native Hawaiian or Pacific Islander 1,269 0.27% Sylmar Ventura SAN BERNARDINO MTNS Some Other Race 72,930 15.78% Simi Valley Two or More Races 23,457 5.07% Oxnard Burbank SANTA MONICA MTNS MEDIAN AgE 32.18 Pomona San Bernardino REGIONAL HOUSINg Whittier Average Family Household Income $68,464 PACIFIC OCEAN Redondo Beach Riverside Average Household Income $62,894 Anaheim Housing Units 160,574 Santa Ana Persons per Household 3.02 N Owner Occupied 68.18% Average Length of Residence (yrs.) 8 SAFETY RANGE ANTELOPE VALLEY USA-AVERAGE Crime Rate per 100K to 250K Pop 4,144 5,080 Crime Rate 25K to 50K Pop 3,582 3,917 Crime Rate 10K to 25K Pop 2,900 3,514 ECONOMY Cost of Doing Business Low to Moderate Major Retail Sales $4,246,622,200 Kern 2006 Retail Sales Growth 5.31% AV Economic Region Two Year Growth 20.23% San Bernardino 2005 Cost of Living Index (US avg. 100) 113.2 Ventura 2006 Sector Job Growth 7.5% Los Angeles MAJOR ECONOMIC ImpACT AREAS Orange Riverside Antelope Valley Mall Stores 140 Ethnicity Kiosks 58 4.97% Other Speaking Employees 1,700 21,217 Air Force Plant 42 (no longer includes FAA) Payroll $498,113,928 18.98% Local Contracts $19,147,715 Spanish Speaking Employees 6,785 80,957 Edwards Air Force Base Employees 10,695 Officers 618 76.05% Enlisted 1,438 Primarily English Gender Civilians 8,639 324,357 Local Contract (2006) $10,260,000 China Lake Civilians 3,388 49.44% Military 767 Male 228,541 50.56% Female 223,731 On-site Contractors 1,203 Off-Site Contractors 1,231 Payroll $432,000,000 Mojave Airport & Spaceport 68 Source: Claritas, FBI, AV Cities, ACCRA, GAVEA, EDD, AV Mall, Airforce Plant 42, Edwards, China Lake, Mojave Airport & Spaceport. Economic Roundtable Report 2008 1 POPULATION DETAIL Population by Zip Code ANTELOPE VALLEY POPULATION FORECAST ZIP CITY 2005 2006 2007 2010 2020 2030 93501 Mojave 4,710 4,619 4,713 Lancaster 168,032 215,468 259,696 93505 California City 11,954 11,791 12,267 93516 Boron 1,830 1,772 1,835 Palmdale 176,506 259,712 337,314 93519 Cantil 124 120 104 Unincorporated-LA County 95,965 133,725 167,319 93523 Edwards 7,960 7,875 7,044 Greater California City/Mojave 24,395 30,972 38,111 93524 Edwards 25 26 26 Greater Ridgecrest 39,391 42,955 45,137 93527 Inyokern 2,035 1,904 1,866 Greater Rosamond 35,573 44,876 55,723 93554 Randsburg 47 45 39 Greater Tehachapi 40,428 52,796 66,971 93555 Ridgecrest 30,622 30,965 31,602 Antelope Valley 580,291 780,504 968,271 93560 Rosamond 16,399 16,557 16,659 93561 Tehachapi 28,960 29,804 30,639 Source: Southern California Association of Government. TOTAL 104,666 105,478 106,794 93510 Acton 7,767 8,074 8,108 LOS ANGELES COUNTY 93532 Lakes Hughes 2,822 2,857 2,852 93534 Lancaster 37,719 38,973 40,456 150,000 150,000 93535 Lancaster 62,236 63,469 66,611 93536 Lancaster 54,657 56,146 60,592 93543 Littlerock 12,006 12,240 12,492 93544 Llano 1,316 1,338 1,348 120,000 120,000 93550 Palmdale 73,021 73,611 74,692 93551 Palmdale 42,298 43,887 46,520 93552 Palmdale 30,093 30,826 32,441 93553 Pearblossom 1,469 1,497 1,528 90,000 90,000 93563 Valyermo 885 886 788 93591 Palmdale 6,987 7,060 7,050 TOTAL 333,276 340,864 355,478 OvERALL TOTAL 437,942 446,342 462,272 60,000 60,000 30,000 30,000 2000 2005 2006 2007 2007 2000 2005 2006 118,718 133,274 138,562 143,818 116,670 136,188 141,199 145,468 Lancaster Palmdale KERN COUNTY 12,000 30,000 12,000 10,000 25,000 10,000 8,000 20,000 8,000 6,000 15,000 6,000 4,000 10,000 4,000 2,000 5,000 2,000 2000 2005 2006 2007 2007 2000 2005 2006 2007 2000 2005 2006 8,385 11,533 12,056 13,123 24,927 27,493 27,530 27,944 11,125 11,930 12,617 13,063 California City Ridgecrest Tehachapi Source: California Department of Finance. 2 GAVEA www.aveconomy.org PHOTOGRAPH COURTESY OF CITY OF PALMDALE COMPARISON WITH OTHER AREAS POPULATION 2006 2007 2000-2011 GROWTH PROJECTIONS Antelope Valley 446,342 462,272 2000 2012 % Atlanta 419,483 489,191 Moreno Valley 142,381 221,434 55.52% Miami 386,127 398,228 Bakersfield 247,057 360,848 46.06% St. Louis 340,122 351,620 Palmdale 116,670 159,878 37.03% Cincinnati 308,590 302,545 Lancaster 118,718 156,822 32.10% Las Vegas 557,484 564,905 Santa Clarita 151,088 192,395 27.34% Reno 204,313 210,877 Ontario 158,007 192,801 22.02% Tucson 523,816 529,131 Phoenix 1,321,045 1,602,910 21.34% CENSUS GROWTH 1990-2000 Long Beach 461,522 502,956 8.98% Palmdale 49.40% AVG. FAMILY HOUSEHOLD INCOME 2006 2007 Phoenix 33.50% Santa Clarita $103,433 $108,409 MEDIAN HOUSE/CONDO PRICES % OF Santa Clarita 23.50% Las Vegas $74,752 $76,662 2006 2007 CHANGE Bakersfield 29.90% Reno $74,843 $75,759 Los Angeles (city) $505,000 $567,500 12.38% Lancaster 21.49% Los Angeles $70,850 $73,512 Ridgecrest $175,000 $186,000 6.29% Ontario 17.10% Phoenix $72,449 $73,387 Long Beach $500,000 $500,000 0.00% Moreno Valley 19.90% Ridgecrest $70,579 $70,882 Rosamond $280,000 $275,000 -1.79% Long Beach 8.30% Bakersfield $66,386 $69,287 Palmdale $372,000 $354,750 -4.64% Palmdale $65,461 $68,548 Tehachapi $297,000 $280,000 -5.72% HOUSING AFFORDABILITY 2005 2006 2007 INDEX (%) Long Beach $65,327 $68,123 Lancaster $339,500 $320,000 -5.74% California City $64,618 $65,203 Santa Clarita $551,000 $519,000 -5.81% Ridgecrest 78 77 75 Rosamond
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