SCVEDC Blog

Below is an analysis of data from the regional Santa Clarita Valley (SCV) market in various aspects such as Industrial & Commercial real estate, retail, residential, hotel vacancy & occupancy, and film activity. The "SCV Market" encompasses the various areas of the City of Santa Clarita (Valencia, Saugus, Newhall, and Canyon Country), as well as the unincorporated Los Angeles County areas of Castaic, Val Verde, Stevenson Ranch, and Agua Dulce.

In the Q1 2025 Economic Snapshot for the Santa Clarita Valley, readers will gain valuable insights into the latest economic trends affecting the region. This report offers an in-depth examination of demographics, housing market conditions—including record-high home prices and rising inventory levels—and current developments in commercial real estate, particularly in the industrial and office sectors.

DrinkPAK Continues Impressive Growth with New Facility Lease in Santa Clarita Valley

The Santa Clarita Valley Economic Development Corporation (SCVEDC) is excited to announce that DrinkPAK, one of the fastest-growing beverage manufacturing companies in the region, recently leased a new 172,843-square-foot facility at 26313 Golden Valley Road. This latest acquisition, facilitated by the commercial real estate firm Newmark, demonstrates DrinkPAK's ongoing commitment to the Santa Clarita Valley (SCV). The lease marks DrinkPAK’s fifteenth transaction with the Newmark team.

“DrinkPAK’s business has grown tremendously in just a few years,” commented Patrick DuRoss, SIOR, Executive Managing Director at Newmark, who, along with John DeGrinis, SIOR, Jeff Abraham, SIOR, and Javier Galvan, have represented DrinkPAK since 2019, "and from day one, we strategized to ensure their real estate could scale with their needs. Santa Clarita has proven ideal for that growth, with its modern industrial parks and supportive climate for business. We are proud to have supported DrinkPAK from its initial establishment to its current expansion.”

Santa Clarita Valley (SCV) continues to be a vibrant hub for the Aerospace and Defense (A&D) industry, cementing this sector as a key economic engine for the region. A&D is one of SCV’s target industry clusters, due to the valley’s strategic location, skilled workforce, and business-friendly climate. Ongoing demand underscores how vital aerospace is to the local economy, driving investment, innovation, and high-paying jobs.

Growth and Employment Highlights (2024–2025) SCV’s A&D cluster has grown significantly. By early 2024, employment reached record levels, roughly doubling since its lowest point in 2020. In 2024 alone, the valley added 1,461 jobs, with aerospace & defense being a standout contributor. Aerospace and defense jobs are also among the region's highest-paid. In 2024, the average salary in SCV’s A&D industry was about $101,000 per worker, far above the valley’s average of ~$63,600¹. These high wages reflect the workforce's skilled nature and aerospace firms' value to the local economy.

2025 marks a major milestone for the Santa Clarita Valley Economic Development Corporation (SCVEDC)—our 15th Anniversary! Since our founding, we have worked tirelessly to attract businesses, create jobs, and strengthen Santa Clarita Valley’s (SCV) economy, making it one of the most business-friendly and economically vibrant regions in Los Angeles County.

This year’s Annual Report provides a comprehensive look at our impact, the trends shaping our local economy, and the exciting opportunities that lie ahead. Let’s take a closer look at the past year's economic wins and the vision for the future. SCVEDC continues to focus on business assistance, business attraction and retention, community marketing, and economic information and data. Despite the numerous obstacles of the past few years, there are many bright spots; most notably, the incredible support, innovation, and resiliency of our business community.

The Santa Clarita Valley Economic Development Corporation (SCVEDC) will be recognized by the LAEDC with a Strategic Engagement Award, honoring the SCVEDC’s impactful work in driving economic growth. This acknowledgment celebrates the SCVEDC's dedication to attracting, retaining, and expanding businesses to cultivate a diverse economic landscape and create high-quality jobs for the community.

Adding to this year’s achievements, Santa Clarita was ranked in the lowest cost tier in the Kosmont-Rose Institute's annual 2024 Cost of Doing Business Survey. Notably, Santa Clarita was the only city in Los Angeles County to receive this designation, underscoring its ability to offer a competitive and cost-effective environment that appeals to businesses large and small. The city's streamlined permitting processes, business support services, and access to essential resources have made it a top destination for companies looking to thrive.

Unlocking Economic Potential: A Close Look at Santa Clarita Valley's Largest Employers of 2024

In a world that often feels like a whirlwind of economic challenges and opportunities, it's always refreshing to pause and take stock of the forces that keep our communities thriving. One such driving force is the businesses and their employees that make up our diverse community. The Santa Clarita Valley Economic Development Corporation (SCVEDC), an organization dedicated to fostering sustainable growth and prosperity in the Santa Clarita Valley, once again unveils its annual Largest Employer List for the Santa Clarita Valley. This list, combined with our Economic Outlook data book, helps shine a light on the vibrant economic landscape of our unique corner of Southern California.

The SCVEDC would like to acknowledge six local employers: Packform, HVA CEYLON, Simpson Labs, Scenario Communications, TLK Fusion, and Vance Wealth, on making it onto this year's list for the fastest-growing companies in the US! 

The prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 allows the founders of the best businesses to engage with an exclusive community of their peers and the credibility that helps them drive sales and recruit talent.

Below is an analysis of data from the regional Santa Clarita Valley (SCV) market in various aspects such as Industrial & Commercial real estate, retail, residential, hotel vacancy & occupancy, and film activity. The "SCV Market" encompasses the various areas of the City of Santa Clarita (Valencia, Saugus, Newhall, and Canyon Country), as well as the unincorporated Los Angeles County areas of Castaic, Val Verde, Stevenson Ranch, and Agua Dulce.

For a downloadable PDF of the charts and brief summaries of our Q2 2024 Economic Snapshot click here:      

As part of its ongoing effort to promote international investment into the Santa Clarita Valley (SCV), and to facilitate export opportunities for SCV companies, SCVEDC recently participated in two major investment conferences: SelectLA hosted by the Los Angeles Economic Development Corporation (LAEDC), as well as the SelectUSA Investment Summit in Washington D.C.

These investment conferences are a crucial component of SCVEDC's comprehensive strategy to attract a diverse range of investors, both domestically and internationally, who are interested in expanding their operations into the dynamic and thriving business environment of the SCV. By actively engaging with potential investors at major conferences like SelectLA and the SelectUSA Investment Summit, SCVEDC aims to showcase the SCV as a prime location for business growth and development, highlighting the region's business-friendly policies, strategic location, skilled workforce, and abundance of money-saving incentives. Through these efforts, SCVEDC is actively fostering a conducive environment for both domestic and foreign companies to establish and expand their presence in the SCV, ultimately driving economic growth and prosperity in the region. 

Curious about how Foreign Direct Investment (FDI) benefits the Santa Clarita Valley? Check out our FDI Brochure!

Did you know the world's leading manufacturer and developer of drumheads and shells is headquartered right here in the SCV? Also one of the valley's largest employers, Remo moved here from North Hollywood in 1997 and has grown to over 200 employees. Last week the SCVEDC Board of Directors was given a guided tour of their 220,000 SF headquarters, where at full capacity they can make over 10,000 drums a day.

In a major stride towards a sustainable future, Six Flags Magic Mountain, located in the heart of the Santa Clarita Valley, has embarked on a groundbreaking initiative that not only elevates its status as a premier entertainment destination but also solidifies its commitment to environmental stewardship. Breaking ground on California's largest single-site commercial solar energy project, Six Flags continues to advance their ESG-related initiatives, as well as significant contributions to both the economy and the environment. Environmental, social and governance (ESG) is a framework used to evaluate an organization's business practices and performance on various sustainability and ethical issues. Magic Mountain will be the third solar installation for Six Flags, following Discovery Kingdom in Northern California and Great Adventure in New Jersey. These three sites will rank as the largest volume of onsite Solar PV systems for any U.S. organization.

Discover how apprenticeships can help businesses grow and thrive.

Santa Clarita Valley (SCV) is home to nearly 300,000 residents and a variety of companies. Thanks to a business-friendly environment, continuous positive economic growth, and local civic leadership that supports ongoing improvements to key infrastructure, our roster of fantastic companies calling the SCV home continues to grow.

Employers across the country are grappling with workforce and recruitment challenges. SCV boasts a highly educated workforce and benefits from access to workforce pipelines in neighboring markets within LA County. In addressing the workforce needs of businesses in SCV, the local community, including academic institutions and economic development organizations, are embracing opportunities for apprenticeships to harness the strength of a vibrant and diverse workforce.

After 13 years of collaborative efforts within our community, the work of the Santa Clarita Valley Economic Development Corporation (SCVEDC) continues to be crucial to our region's growth. SCVEDC continues to focus on business assistance, business attraction and retention, community marketing, and information and data. Despite the numerous obstacles of the past few years, there are many bright spots; most notably, the incredible support, innovation, and resiliency of our business community.

Last Tuesday night the Santa Clarita Valley Economic Development Corporation, released the 2023 SCVEDC Annual Report to the City Council. It featured our organization's business attraction and retention, business assistance, economic information & research, and workforce development initiatives. 

Click here for the presentation slides, and read below for more details. To see the presentation to the City Council on SCVTV, click below and skip to 12:00 minutes.

Honoring Santa Clarita Valley's Largest Employers

The Santa Clarita Valley is a growing region with significant business opportunities, including available, state-of-the-art industrial and commercial buildings in master-planned developments. Despite the challenges of the last few years, 2023 was a successful year for many companies, and there were several attractions and expansions across our target industry clusters. Through our research for the Economic Outlook Forecast, we compiled the Santa Clarita Valley Largest Employer’s List illustrating marked growth in this past year.

The SCVEDC would like to acknowledge seven local employers: CC Wellness, Lief Labs, Scenario Communications, Selleton Scales, TLK Fusion, Tri Source International, and Vance Wealth, on making it onto this year's list for the fastest-growing companies in the US! 

New Ownership, new location, and a new way of doing business

SANTA CLARITA VALLEY, CA – Avon Rents, a one-stop vehicle rental company serving the greater Los Angeles area for over 40 years, has recently expanded into the Santa Clarita Valley. Avon operates one of the largest independently owned and operated fleet of commercial vehicles in Southern California. While their fleet primarily serves the film industry with production trucks and trailers, Avon also offers a new and improved variety of cargo vans, stake beds and cube trucks for small businesses and individual rentals.

It's always bittersweet when you lose a coworker so beloved as Sue Arellano. For those who don't know her, Sue was the Director of Business Assistance here at the SCVEDC for over 7 years. Her impact on the businesses and the community in the Santa Clarita Valley during her tenure is impossible to quantify. Whether it was helping with permitting issues, tax credits and business incentives, or assisting with workforce and training solutions, she was always willing to fight alongside our businesses to achieve their goals. Sue has taken the next step in her life and retired after many years of hard work and commitment to our community, and we couldn't be happier for her. 

The trend of workforce shortages and a tight labor market has continued to be at the forefront of issues facing businesses. The Santa Clarita Valley has not been immune to the effects of this. We are however very ideally positioned to tackle this issue, and the SCVEDC has been collaborating extensively with a number of different organizations to find viable solutions for our local employers. Workforce development and training is more crucial than ever for economic developers engaging in business assistance and retention. To that end the EDC is excited to welcome Jey Wagner, Ed.D. as our Vice President of Workforce & Economic Development!

Press Release - New aerospace company joins SCV's thriving local cluster

SANTA CLARITA VALLEY, CA – This month Lockheed Martin announced the completed transition of their hybrid airship IP and related assets to a newly formed commercial company, AT² Aerospace. AT² is developing airship solutions to support commercial and humanitarian applications around the world. The development of airships is anticipated to provide new freight alternatives for shippers, as well as the
ability to reach remote locations efficiently.

soon to occupy 965,000 square-feet across 6 buildings at Needham Ranch

When they started out, DrinkPAK was just a small start up in search of a new location in Southern California. Their principals had a long and successful track record  creating beverage brands, then selling these brands along with their manufacturing facilities to world-class companies such as PepsiCo and Keurig Dr. Pepper. For their first dedicated contract manufacturing facility they ultimately chose the Center at Needham Ranch (CANR) as the optimal location for their project.  Their plans called for a state-of-the-art, 3-line beverage contract manufacturing, packaging, and fulfillment center. 

The SCVEDC is committed to spurring workforce training and development to empower our local labor force and help our businesses thrive. A big part of that commitment is our  close partnership with College of the Canyons and their continued efforts to provide high quality training based on current industry needs.

Where are all the workers with the relevant job skills my company needs? Most have heard or experienced this sentiment for years now, and it was only exacerbated by the labor challenges from the pandemic. The economic impact of shifting technology and skill requirements across almost all workforce areas continues to be a concern. There are simply more jobs available than there are workers with the requisite skills.

So how do we fix it? There are short term solutions to this problem, such as offering higher pay for retention or increasing flexibility in the hiring process. High schools and colleges however are investing in comprehensive career pathways to provide real-world career experience to bridge this skill gap.

Congratulations to the Top 22 Power Brokers!

The Santa Clarita Valley Economic Development Corporation (SCVEDC) invests not just in growing our local businesses, but attracting great companies to the region with a focus on industries that provide our residents with high quality, high paying jobs.

Bringing these businesses to our community takes a combined effort from the SCVEDC and our partners in economic development, and of

course, from the tireless commercial real estate brokers who work hard to get these businesses set up at the right location that works for them. Each year we recognize the top commercial real estate brokers active in the Santa Clarita Valley, with this years list featuring many returning faces as well as some new ones!

Does your business pay Use Tax? If so you may be eligible to direct a large portion of your Use Tax back to Santa Clarita’s general fund for public safety, parks, libraries, infrastructure and other City services AND receive a cash rebate on a portion of the Use Tax remitted to the City. 

Last Thursday night, the Los Angeles Economic Development Corporation (LAEDC) recognized the City of Santa Clarita as the Most Business Friendly City  in LA County with a population greater than 60,000, tying with the City of Gardena. El Segundo was named the winner for cities with a population under 60,000. Tom Cole and Monica Fawcett from the city's Economic Development department accepted the award on the city's behalf at the LAEDC’s 27th Eddy Awards in SoFi Stadium.

The Eddy Awards® is one of the most prestigious awards programs to recognize leadership in economic development in business and government throughout Los Angeles County. It celebrates exceptional public and private leadership in LA County economic development, with the Most Business Friendly City Award and recognition of honorees that demonstrate outstanding contributions to economic development in the region.

Learn more about the grants, eligibility requirements, and how to apply HERE

DrinkPAK Pre-Leases 200K-SF in Final Phase to Expand SCV Footprint to 770,000 square feet

Honoring Santa Clarita Valley's Largest Employers

The Santa Clarita Valley is a growing region with significant opportunities for businesses including available, state-of-the-art industrial and commercial buildings in master planned developments. Despite the challenges of the last two years, 2022 was a successful year for many companies, and there were several attractions and expansions across our target industry clusters. Through our research for the Economic Outlook Forecast, we compiled the Santa Clarita Valley Largest Employer’s List illustrating some remarkable growth this past year.

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.

New extension of Film & TV Tax Credit will support continued growth already seen in SCV film industry.

When people think filming television and movies, of course Hollywood and Los Angeles are the first to come to mind. Santa Clarita Valley however is one of the most filmed locations in the State, and that includes LA. Santa Clarita is consistently one of the most filmed places in California because it’s located within the industry’s well-known 30-Mile Zone and offers thousands of film-friendly locations that can double for almost anywhere in the world. Throw in a  City Film Incentive Program, Movie Ranch Overlay Zone, low-cost permit fees and expedited permit processing, and it's easy to see how we recently broke our own record this year by generating over $40 million in economic impact!

California has long been known as the entertainment capital of the world, and one of the ways the state has been working to keep filming here is through the Film & Television Tax Credit Program. The program has been shown to generate $24 in economic activity for every $1 invested – spurring tens of billions of dollars in economic output, helping create over 110,000 jobs, and bringing shows and films to California. The legislation expands the current film credit program with a $180 million increase over two years and an additional one-time $150 million incentive to be used over multiple years for the construction of certified motion picture soundstages – building out studio infrastructure to keep pace with the growth in production.

The Honor Ranch Site (Honor Ranch) is a potential development located in a County-owned vacant lot in the Santa Clarita Valley. This 206-acre plot along the eastern edge of the I-5 (north of the Castaic Junction) offers an excellent opportunity for a new jobs-creating development. It consists of a large contiguous land area with high visibility and freeway access.

The location has been identified as a potential development site for years. A motion was introduced by 5th District Supervisor Kathryn Barger on June 14, 2022 that enters LA County into an exclusive negotiation phase for the project. The "Honor Ranch Development Project" has now moved further in the process than ever before towards making this project a reality.

Trammell Crow Company (TCC) was chosen as the preferred developer for a 1.8 million SF project consisting primarily of new industrial facilities. TCC will work closely with LA County Public Works on the pre-development phase, as well as negotiating a final agreement. Honor Ranch has great potential to bring more high quality jobs to our valley, allowing more residents in our expanding population to live and work right here in SCV!