The SCVEDC is excited to announce that we were recently honored for excellence in economic development by the International Economic Development Council (IEDC) in two distinct categories. For both the Business Retention & Expansion (BRE) Initiatives and Print Brochures categories impacting populations between 200,000 - 500,000 residents, the SCVEDC was recognized for two of last year's projects: The 2022 Business Survey, and the SCV Talent Report.
SCV Talent Report
In 2022 the SCVEDC worked on several initiatives and programs to continue our mission of growing the tax base, creating high-quality jobs, and sustaining an economically diverse business environment. The Santa Clarita Valley continues to be one of the most productive and business-friendly locations in Southern California. One of our core functions at the SCVEDC promoting the Santa Clarita Valley as the premier destination to live, work, and play.
The focus in economic development has expanded over the past two years to include more talent attraction and workforce development initiatives. In today's labor market, companies are doing everything they can to maintain their current staff, while simultaneously competing with other businesses for top talent. The IEDC itself publishes its own annual talent report, 'Live, Work, and Play' Attracting and Retaining Tomorow's Talent, with 2023's edition released back in June and can be viewed HERE.
The Santa Clarita Valley Talent Report was released in May 2022. It showcased key information and analysis for the Santa Clarita Valley to tell the story of the Who/What/Where/When/Why of the employers, employees, and education pipelines available in our community. The SCVEDC worked with its various partners across the valley to build a comprehensive Talent Report to tell the story of the SCV, its demographics, workforce, and more. This was used to help promote and attract prospective employers and employees to the SCV, alongside a digital ad campaign, social media, print/downloadable materials, and more.
2022 Business Survey
Given the backdrop of the past few years in grappling with the effects and aftermath of the COVID-19 pandemic, the SCVEDC conducted a comprehensive Business Survey outreach to local businesses in March 2022 as a post-pandemic extension of SCVEDC’s ongoing business retention program. Business input through the survey process is utilized to assess the current and forecasted business climate, as well as identify actionable needs and priorities of existing industry in the Santa Clarita Valley. The SCVEDC conducted a comprehensive Business Survey with 155 respondents in March 2022 as a post-pandemic special extension of SCVEDC’s BRE program. Companies surveyed represented diverse business sectors within the Santa Clarita Valley, targeting key industry clusters that necessitate skilled labor, experienced leadership, and higher wages, and larger companies whose presence in Santa Clarita Valley makes a significant economic impact.
SCV business climate and quality of life received high marks from respondents, with 82% and 91% ‘good’ or ‘extremely good’ rankings respectively–put to great use attracting companies to SCV. The survey found that the workforce has largely been restored, though most businesses faced increases in wages/benefits to retain and recruit employees. Headcounts are expected to remain stable.
The data and information collected through this post-COVID-19 business survey yielded great insights into the business climate in our region and gave rise to strategic shifts in SCVEDC’s priorities and focus to address specific needs identified through the survey process. An essential need to advance the skillsets of employees, particularly in technical areas of advanced manufacturing, was strongly identified through this survey, leading SCVEDC to put much greater emphasis and focus on workforce training and development as a key priority moving forward.
We are proud and humbled to be acknowledged internationally for our work here in the Santa Clarita Valley.
If you are curious about our other projects and initiatives from last year, check out our 2022 Annual Report!
The Santa Clarita Valley Economic Development Corporation 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. 661.288.4400 | firstname.lastname@example.org