Economic, Workforce Forecast Projects Bold Decade Ahead for Inland Empire
San Bernardino, CA – The Inland Empire will continue its rapid economic expansion in the next decade, with business growth and employment gains across all major sectors, a new study shows.
[ecko_quote source=”Robert Lovingood, Chairman of SB County Board of Supervisors”]We have what businesses, industries and employers need – land, access to transportation, a great quality of life and, most important, a strong pipeline of workers and job seekers with unlimited potential.[/ecko_quote]
“The State of the Inland Empire Economy” is based on economic trends from the third quarter of 2015 through the second quarter of 2016, and is the latest in an annual series of reports produced by Chmura Economics & Analytics for the San Bernardino County Workforce Development Board (WDB). Among the highlights of the report:
- Employment growth will occur across all 21 major business sectors over the next 10 years, but will be heavily concentrated in healthcare and social assistance, construction, and professional, scientific and technical services.
- The manufacturing sector should add more than 22,000 job openings during the decade, continuing a trend that has seen the Inland Empire increase manufacturing employment at three times the state average – and more than double the national average – over the past five years.
- The Inland Empire has a young population mix, creating a strong pipeline of workers and trainable job seekers. From 2020 to 2030, the working-age population in the Inland Empire is expected to grow at an annual rate of 0.5 percent to 0.6 percent, significantly above the projected statewide average of 0.2 percent to 0.4 percent.
- The residential and commercial real estate markets in San Bernardino and Riverside counties are gaining strength, creating a favorable opportunities for businesses and employees.
“This research underscores the historic economic and workforce development opportunity we have in San Bernardino and the Inland Empire,” said Tony Myrell, Chairman of the WDB. “It also shows how effective we have been as a county in developing a well-trained and abundant workforce that meets the business needs and creates new career options for our working-age population. As we’ve demonstrated, preparing and training workers and job seekers is critical to attracting new businesses and supporting existing ones as part the same economic development ecosystem.”
Robert Lovingood, Chairman of the San Bernardino County Board of Supervisors, said the results of the Chmura study are an important reminder of the Inland Empire’s growing status as a regional economic magnet.
“We have what businesses, industries and employers need – land, access to transportation, a great quality of life and, most important, a strong pipeline of workers and job seekers with unlimited potential,” Lovingood said. “With all of this, the Inland Empire will be a leader in driving business growth and job creation across Southern California.”
The Chmura study notes that since 2013, the Inland Empire’s economy has outperformed California in employment, wage and retail sales growth. That trend will continue in large part due to the growth of industries such as health care, where demand for nurses, management personnel and skilled-trade workers will remain high.
“Overall, the Inland Empire is positioned for continued growth and is ripe with substantial opportunities for workforce development,” the report stated. “As many of these opportunities will occur at the intersection of workforce, economic, postsecondary, and community development, the San Bernardino Workforce Development Board is uniquely positioned to have a transformational impact on the region’s future.”
To see a copy of “The State of the Inland Empire Economy,” please visit the WDB’s website at: http://wp.sbcounty.gov/workforce/
About the San Bernardino County Workforce Development Board
The San Bernardino County Workforce Development Board (WDB) is comprised of private business representatives and public partners appointed by the San Bernardino County Board of Supervisors. The WDB strives to strengthen the skills of the County’s workforce through partnerships with business, education and community-based organizations. The San Bernardino County Board of Supervisors is committed to providing county resources, which generate jobs and investment in line with the Countywide Vision.
The Workforce Development Board, through the San Bernardino County Economic Development Agency and Workforce Development Department, operates the San Bernardino County’s three America’s Job Centers of California (AJCC). The AJCCs provide individuals with job training, placement and the tools to strengthen their skills to achieve a higher quality of life. The AJCCs also support and provide services to the County’s businesses, including employee recruitment and business retention programs.
Employers and job seekers who are interested in the Workforce Development Board programs may call: (800) 451-JOBS or visit www.csb-win.org. Also follow us on: Facebook www.facebook.com/SBWIB; Twitter @InlandEmpireJob; and YouTube http://www.youtube.com/SBCountyWIB.