SCVEDC Blog

The Santa Clarita Valley economy is entering a new phase.

After several years of strong growth, the latest data shows a shift. Job growth has slowed. Real estate is adjusting. Some industries are moving forward, while others are taking a step back to recalibrate. Across the board, businesses are taking a more measured approach to growth.

While that might feel uncertain, it’s actually a necessary adjustment after several years of strong growth.

This is what a transition period looks like.

And for businesses, site selectors, and investors, this kind of moment is worth paying attention to.

Because when the market shifts, so do the opportunities.

Economic growth in 2025 did not come easily.

Across California, job creation slowed. Companies right-sized operations. Artificial intelligence reshaped workforce needs. Expansion decisions faced new scrutiny amid national uncertainty.

In our annual Economic Outlook Book last September, the California Economic Forecast projected that just 164 net new jobs would be created for the Santa Clarita Valley in 2025.

Instead, the SCV added 896 net jobs, 732 more than projected, due to the expansion and retention of several companies in the valley.

That outcome was not accidental.

When we talk about building a strong economy in the Santa Clarita Valley, we often focus on attracting new businesses or celebrating major expansions. Those moments matter. But long-term economic strength is built more quietly—through people, skills, and confidence in what comes next.

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.

Congratulations to the Top Power Brokers!

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

Bringing businesses to our community takes a combined effort from the SCVEDC and our partners in economic development, including the dedicated commercial real estate brokers who work tirelessly 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 whose efforts contributed the most economic impact.

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 2024 Santa Clarita Valley Economic Outlook explores a resilient and evolving local labor market characterized by growth in key industries, changing dynamics, and challenges in workforce retention. Employment and business expansion, workforce training initiatives, and business assistance and attraction remain a primary focus, supported by the Santa Clarita Valley Economic Development Corporation’s (SCVEDC) integrated approach to attracting diverse business opportunities and job creation. Here are the highlights and insights on employment and workforce trends shaping the region from the 2024 Economic Outlook Book and the 2024 Economic Outlook conference this September:

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.

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!

Congratulations to the Top 25 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 businesses to our community takes a combined effort from the SCVEDC and our partners in economic development, and of course, from the dedicated commercial real estate brokers who work tirelessly 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 whose efforts contributed the most economic impact. This years list features many returning faces as well as some new ones!

Valencia, California – June 13^th 2024 – Nycote Laboratories Corporation; a leading provider of advanced coatings solutions, is proud to announce a significant expansion with the purchase of a modern detached industrial building. This strategic move underscores Nycote's commitment to meeting the growing demands of its customers and further solidifies its position as a leader in the aerospace, defense and related high tech industries.

Discover how apprenticeships can help businesses grow and thrive.

In the vibrant business landscape of Santa Clarita Valley (SCV), where innovation meets opportunity, investing in talent development isn't just a strategy—it's a necessity for sustainable growth. As local businesses strive to remain competitive in an ever-evolving market, embracing apprenticeship programs emerges as a powerful solution. But what exactly is an apprenticeship, and how can it revolutionize your workforce? Let's delve into the world of registered apprenticeships and explore how they can benefit your business in more ways than one. 

For businesses expanding or new ventures, whether domestic or international, setting roots in the Santa Clarita Valley, apprenticeships present an invaluable resource. As these businesses seek to establish themselves in a new environment, the need for a skilled and adaptable workforce becomes paramount. Apprenticeships offer the perfect solution, providing a structured pathway to train individuals in line with the specific needs and requirements of the business.  

The Santa Clarita Valley Economic Development Corporation is your one-stop resource for all your business needs

The Santa Clarita Valley Economic Development Corporation (SCVEDC) plays a pivotal role in fostering business growth and prosperity within the region. Our overarching goals are to support the creation of high-paying jobs for our trained workforce, stimulate economic activity that grows the regional tax base, and strategically position the Santa Clarita Valley (SCV) and its businesses to better compete in the global economy. Through a multifaceted approach, the SCVEDC assists businesses with expansion within the SCV and relocation to the SCV by providing comprehensive support services tailored to their specific needs.

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.

The SCVEDC is proud to celebrate the recent achievements of two of its team members: Dr. Jey Wagner (President & CEO) and Ondre Seltzer (VP, Workforce & Economic Development). Dr. Wagner's appointment to the Board of Directors for Team California highlights his dedication to the growth and retention of businesses in the Golden State. With a strong background in Foreign Direct Investment and working closely with international clients, Ondre Seltzer's addition to the Maple Business Council further strengthens the SCVEDC's commitment to fostering global relationships. These appointments reflect the SCVEDC's ongoing efforts to attract and retain businesses in the Santa Clarita Valley, showcasing the team's dedication to driving economic growth and innovation in the region.

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.

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.

Have you heard about the California Competes Tax Credit (CCTC)? It’s a state income tax credit supporting the growth of high-quality jobs in California, available to businesses who want to come to, stay in, or grow in our state. Through a two-phase process, businesses apply and compete for this credit during three application periods each fiscal year (FY).

Here's how it works: Phase I is an online application process, where businesses submit information on their 5-year growth plans including a comprehensive description of their growth project, projected new hires and wages, projected amount of investment equipment and facilities, and their requested tax credit. A cost-benefit ratio is then calculated, and companies with the most advantageous cost-benefit ratio (and additional factors) move on to Phase II for final agreement negotiation and selection. Phase ll applicants must then be approved by the California Competes Tax Credit Committee.

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.

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!

On Tuesday night Holly Schroeder, President & CEO of the Santa Clarita Valley Economic Development Corporation, released the 2022 SCVEDC Annual Report to the City Council. It featured our organization's business attraction and retention, business assistance, economic information & research, and community marketing efforts.

Click here for the presentation slides, and read below for more details!

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. 

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

Congratulations to the Top 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, who will be honored this week at a private breakfast event.

Labor shortages and “the great resignation” are leaving most companies working hard to hold on to the employees they have. One strategy they should use: looking internally at ways they can reduce their own bureaucracy.

Working from home, most employees found time in their day wasn’t productive. Remote work gave many people a fresh perspective on their jobs. The “Great Resignation” suggests they didn’t like what they saw, and they decided to pursue other opportunities. In fact, NIST recently called it the “Great Recognition,” an awakening of people to how they spend their time.

The Small Business Administration has significantly upped the cap for COVID-19 Emergency Injury Disaster Loans (COVID EIDL) from $500,000 to $2 million, providing low-interest, long-term loans for small businesses and nonprofits who experienced or continue to experience economic harm resulting from the pandemic.  

January Marks Another Minimum Wage Increase in the City of Santa Clarita

Are you confused about the minimum wage increases? You’re not alone! The Santa Clarita Valley is in an especially unique situation in that the City of Santa Clarita and the County of Los Angeles have two different minimum wage increase schedules which has caused confusion and challenges for many of our local employers and residents alike. The City increases its wages in keeping with the State of California’s schedule (January - December), while the County of Los Angeles has adopted a wage increase schedule based on their fiscal calendar (July - June).

Social Media Builds…

When it comes to Social Media and Digital Marketing for your business, the amount of information can feel overwhelming. Post this not that, target this audience, use this platform instead of that one, etc. How do you break through the chatter to figure out what really matters in terms of driving business and brand awareness? Just as you as a business owner, manager, or employee get bombarded with different aspects of social media, so do your consumers and clients.