Source: First American Title Company’s California Economic Forecast, October 2007
BUSINESS ENVIRONMENT
Santa Clarita’s local economy is primarily a service based economy with 41% of the businesses in the service sector. An additional 21% of businesses are in retail trade and 10% each are in the finance, insurance, and real estate sector as well as construction.
The businesses located in Santa Clarita can be categorized as small businesses with 59% employing less than 5 employees. Businesses between 5 and 9 employees account for 19% of all businesses in the City and only 5% employ in excess of 50 employees.
The amount of space Santa Clarita businesses occupy is relatively small. Close to one-half or 46% of businesses are in locations between 2,500 and 9,999 square feet with an additional 36% of businesses occupying less than 2,500 square feet.
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| A DIVERSE WORKFORCE |
Close to two in four or 38% of the workforce in the City of Santa Clarita is employed in the services sector. An additional 25% of the City’s workforce is employed in retail trade followed by 9% in manufacturing, 8% in construction, 7% in finance/insurance, and real estate industries, and 6% in wholesale trade.
More than one-fourth or 26% of the City of Santa Clarita’s workforce are in professional or specialized positions while another 21% are in administrative and support positions, 14% are in marketing or sales, and 11% are in executive roles.
One-third or 32% of Santa Clarita Valley’s manufacturing workforce is employed in aerospace with an additional 18% in computers and electronics and 14% in biomedical manufacturing.
The City of Santa Clarita’s workforce in the services sector is somewhat evenly distributed among education at 16%, consumer at 15%, health at 14%, and entertainment/amusement and business/computer services at 13% each. The remaining 9% are employed in legal/membership/other services.
Based on an independent study of 367 communities across the United States by the Kosmont-Rose Institute, cost ratings were developed in order to compare difference communities based on business taxes, telephone taxes, sales taxes, property taxes, electric taxes, and state income taxes.
Santa Clarita is ranked as Low Cost ($$) compared to the Cities of Los Angeles and Pasadena which are both ranked as Very High Cost ($$$$$). Out of 224 California cities, Santa Clarita is ranked as the 11th lowest cost city in Los Angeles County.
Santa Clarita is the fourth largest city in Los Angeles County with a population of 177,158 in January 2007 and the 24th largest city in the State of California. In Los Angeles County, only Los Angeles with a population of 4.0 million, Long Beach with less than 493,000, and Glendale with slightly over 207,000 were larger than Santa Clarita. Consequently, Santa Clarita plays an important role in the County based on its size.Source: City of Santa Clarita, April 2007
UNEMPLOYMENT
Santa Clarita maintains one of the lowest unemployment rates in Los Angeles County. The City’s unemployment rate was 4.9% in August 2008 compared to 8.2% for Los Angeles County and 7.6% for the State of California.
Source: California Employment Development Department, June 2007
LARGEST EMPLOYERS
| COMPANY | TYPE OF BUSINESS | # OF EMPLOYEES |
| Six Flags Magic Mountain | Theme Park | 3,689 |
| William S. Hart Union School District | Public High & Junior High School District | 2,455 |
| Princess Cruises | Vacation Cruise line Services | 2,100 |
| Saugus Union School District | Public Elementary School District | 2,010 |
| U.S. Postal Service | US Postal Service | 1,790 |
| College of the Canyons | Community College | 1,678 |
| Henry Mayo Newhall Memorial Hospital | Healthcare Services | 1,212 |
| H. R. Textron | Aerospace Manufacturer | 845 |
| Newhall School District | Public Elementary School District | 836 |
| The Master's College | Christian Liberal Arts College | 755 |
| Specialty Laboratories | Medical Research & Development | 725 |
| City of Santa Clarita | Government Agency | 695 |
| Arvato Services | Business Services | 586 |
| California Institute of the Arts | Private Art School | 500 |
| Aerospace Dynamics | Aerospace Structural Components | 420 |
| Fanfare Media Works | International Printing & Publishing | 407 |
| Advanced Bionics | Medical Device Mfg | 375 |
Source: Claritas Site Reports, July 17, 2008
http://econdev.santa-clarita.com/Index.aspx
Santa Clarita has ranch properties that are used for boarding horses, In addition, there are ranches that are used for filming for the Television and Motion Picture industry. Santa Clarita is very different than the Agricultural Core of the United States of America.
The small towns of the Agricultural core derive much of its quiet, steady character from its history of slow or non existant growth. The towns are often a few blocks long, whereas the communites of Santa Clarita are miles long, heavily populated, and growing.
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