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Inland Empire Prosperity: Long-Term Growth and Economic Opportunities

Discover the economic growth and opportunities in the Inland Empire region of California. Learn about job gains, high-end industries, healthcare, logistics, and manufacturing. Find out how the region is poised for long-term prosperity.

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Inland Empire Prosperity: Long-Term Growth and Economic Opportunities

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  1. Inland Empire Prosperity . . . What’s It Beginning to Feel Like! John Husing, Ph.D. Economics & Politics, Inc. Chief Economist, IEEP

  2. After Losing 8.71 Million Jobs …U.S. Jobs Long Slow Growth - Not Over-Heating

  3. Petroleum Prices Helps Families In Modest Income Areas

  4. Value of the Dollar:Helps Imports & Hurts Exports

  5. Consumer Confidence, 2009-2015 Needed To Help Homes Sales

  6. Confidence Helps Home Sales

  7. Interest Rates Remain BenignEncourages Home Sales

  8. California Wage & Salary Employment: A Record Level

  9. California Job Gains/Losses 2014 Up +401,217 37.8% Up 2008-2010 -1,066,400 2011-2014 +1,301,708 Recovery Great Recession

  10. Greg DevereauxChief Executive Officer San Bernardino County

  11. Jay OrrChief Administrative Officer, Riverside County

  12. Very Rapid Job Growth: 2 Straight Years! 2011-2014 Gained Back 139,767 of 142,933 lost or 98.8% 3,167 Jobs To Go 40,100

  13. Inland Empire Growth was the 2nd LargestAbsolute Job Gain in California in 2014!

  14. IE Job Growth Rate Ranked 3rd after the Bay Area in 2014

  15. IE Unemployment Rate: Closing In on the National Level 7.3% 6.1%

  16. Gold Mine Theory Secondary Tier Primary Tier

  17. High-End & Office Based Jobs Film & Commercials Engineering Legal & Accounting Police & Fire Health Care Science & Information

  18. Higher End Homes Draw Well Educated Workers UPLAND $484,914 $465,778 Claremont Loma Linda $568,700 $357,037 $345,243 $427,095 $585,199 EASTVALE $468,269 $459,000 CORONA $429,667 TEMECULA $344,095 $393,603

  19. Migration of Educated Workers

  20. Still Relatively Low Share of BA or Higher

  21. Office Absorption Follows Higher-End Workers High-End Jobs Followed Workers into the Area

  22. Office Vacancy Rates Improving But Still Very High 24.0% 15.8%

  23. Office Space Ratio to Population 4.3 million people are Professionally Under-Served More educated workers will cause more firms to migrate

  24. Professionals, Mgmt., Utilities, Information, Mining Slowly Coming Back +4,100 Down -5,600 Median Pay $55,308 -9,700

  25. Films & Commercials

  26. Economic Impact of Film Production

  27. Film Projects

  28. Health Care

  29. Inland Empire Underserved by Health Care Workers 27.7% More People Per Health Care Worker in 2014 36.5% More People Per Health Care Worker in 2010

  30. Who Will Health Care Workers Serve? 27.3% 22.0%

  31. Who Will Health Care Workers Serve?

  32. Health Care Jobs: Continuous Growth Up +24,100 Median Pay $57,443 +17,400 +6,700

  33. Logistics Flow of Goods

  34. Sophisticated Warehousing Operations

  35. Port Container VolumesSoaring Even With Labor Slowdown

  36. Fulfillment Warehousing

  37. E-Commerce Growth RatesYear Over Year by Quarter

  38. Industrial Vacancy Rate Recovering Everywhere! 2005/2006 2009Q3 2014Q4 Inland Empire 2.7% 12.8% 4.5% San Diego 7.0% 12.0% 6.7% Orange Co. 5.4% 6.5% 2.7% L.A. Co. 2.1% 3.2% 1.9%

  39. Industrial Construction 2014 IE Net Absorption: 16.1 million Sq. Ft.

  40. Inland Empire Logistics JobsIE’s Major Competitive Advantage Up +20,100 +31,200 Median Pay $43,911 -11,100

  41. Logistics Incredibly Important To Inland Empire’s Economic Health 2012: 25% of New Jobs 2013: 19% of New Jobs 2014: 20% of New Jobs Remember: Every Gold Mine Job Also Funds Another Secondary Tier Job

  42. PM 2.5: Diesel Pollution

  43. Health Effects Institute dgreenbaum@healtheffects.org 617-488-2331 • EPA & CARBSPONSORED 2012-2015 SCIENTIFIC STUDY . . . • Truck Pollution Disappearing! • 2007 Truck Engines: No Lifetime Cancer Risk • 2007 Truck Engines: 90% End To NO2 & PM2.5 Emissions • 2010 Engines: NO2 & PM2.5 “Substantially” Cut Further

  44. Manufacturing: Should Be A Major Growth Source

  45. California Manufacturing Job GrowthJust 2.8% of U.S. Growth

  46. Manufacturing Orders Rising

  47. CA Is Not Loved By Executives & Entrepreneurs

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