New Development = Job Creation
New development might seem undesirable to some, but there are a wide range of positive effects it can have on the local economy. A whole host of jobs are required just to build one building: contractors, managers, engineers, and inspectors are just some of the many jobs that new development requires. However, the impact of new commercial, industrial, and standard office development on job creation reaches far beyond new construction. After all, once the development is completed it isn’t finished creating jobs. Manufacturing companies, offices and retail locations need employees. These are all things that grow the local economy and help it to thrive.
Because new developments, especially those on a large scale, can take years to build out the seemingly “temporary” construction jobs at the base of it all can actually provide employment opportunities for decades. Newhall Ranch with its 21,000 homes and 11.5M SF for jobs is a great example of this. This new community, which recently announced that its first homesites have been sold to home builders, will contribute to the Santa Clarita Valley job base with construction jobs now, and will provide long-term employment opportunities for our residents with future commercial and industrial space.
READ MORE: Five Point Holdings Announces the Sale of First Homesites at New Community in the Santa Clarita Valley
There are valid reasons some people might be hesitant about new development. Maybe you already have a decent-paying job, and maybe you lament the new development for its impact on your town’s vistas, culture, or overall quality of life.
Those of you in that camp, consider this: More good jobs means more opportunity for those in the community to succeed. And when enough of your neighbors join you in that golden circle of success, the community begins to not just demand more, but demand better. Many of the potential negative effects of new development can be mitigated by thoughtful planning and a lot of good things can come from development that wouldn’t otherwise happen.
You by yourself may not be able to pay the tax to fund that new rail line right to the heart of downtown, or widen that highway to ease the burden of traffic, or build that new school to reduce class sizes, but as a successful community, you can afford it.
Growth in the Santa Clarita Valley
Here in the Santa Clarita Valley we are growing not only in population, but also in jobs. In fact, in the last decade our population grew by 6% but the number of jobs in our region grew by a whopping 25%!
At last year's Santa Clarita Valley's Economic Outlook forecast we learned:
- Jobs in the construction sector soared by over 800 positions in 2018, because of the many developments underway.
- Several developments that will create new space for businesses are under construction in SCV including Needham Ranch, IAC Commerce Center, andVista Canyon.
- Near-full employment has caused SCV employers to have to recruit from out of the area. New housing developments under construction will allow more people to live and work here and contribute to the local economy.
Yes – new development means more jobs. And yes – more jobs means more growth. But growth is GOOD and feeds into a strong economy. When it comes to not just making your community bigger, but better, it’s the kind of economy-positive development we should strive to achieve.
Want to learn more about the growth happening right here in the Santa Clarita Valley? Download our quarterly Economic Snapshot by clicking the button below. 👇
The Santa Clarita Valley Economic Development Corporation (SCVEDC) is a unique private / public partnership representing the united effort of regional industry and government leaders. The SCVEDC utilizes an integrated approach to attracting, retaining and expanding a diversity of businesses in the Santa Clarita Valley, especially those in key industry clusters, by offering competitive business services and other resources.