SCVEDC Blog

2021 Annual Report

The COVID-19 pandemic brought both health implications and serious economic ones, extending into its second year in 2021 as the Santa Clarita Valley Economic Development Corporation celebrated its 11th anniversary. The SCVEDC continued supporting SCV businesses as they navigated public health orders, supply chain snarls, hiring challenges and the emergence of inflation. SCVEDC continues to focus on business assistance, business attraction and retention, community marketing, and providing quality information and data. The vast diversity of businesses in the Santa Clarita Valley has established a strong foundation for its future economic security.

As we celebrate the City of Santa Clarita's nomination once again as a business-friendly city by the Los Angeles Economic Development Corporation, it's a good time to reflect on what makes the Santa Clarita Valley so business friendly.

City of Santa Clarita among 10 finalists for this year's "Most Business Friendly City" Award

It's been another banner year for Santa Clarita in terms of achievements and growth. Through a lot of hard work and collaboration, the citizens and businesses of SCV have really risen to meet the challenges of the last 18 months. As we heard from economist Dr. Mark Schniepp at our Economic Outlook Forecast, Santa Clarita is well on its way in terms of recovery. One of the biggest factors in growth and economic recovery is for your businesses to thrive. The City of Santa Clarita has once again been named as a finalist in the Los Angeles Economic Development Corporation's (LAEDC) award for "Most Business Friendly City" in LA County. As Los Angeles County's third largest city, Santa Clarita continues its commitment to maintain a healthy business environment for current and future companies, proactively promoting business-friendly programs and services--a critical factor in job creation. With award criteria including prioritizing and supporting business recovery, reinvention, growth and hiring throughout the COVID-19 pandemic, it's no surprise that we made the short list.

 The economic shutdown due to the COVID-19  pandemic coincided almost perfectly with the  Santa Clarita Valley Economic Development  Corporation’s previously scheduled, and ultimately  canceled, Economic Outlook on March 12, 2020.  With rapidly changing mandates and an uncertain  economic climate, we transitioned to hosting a September 2020 virtual event, with an additional virtual update in March of this year. Last Friday marked the highly anticipated return of the SCVEDC's Outlook to a hybrid in-person and virtual event, hosted at the Santa Clarita Performing Arts Center at College of the Canyons.

In a smart move to keep California’s signature industry thriving in-state, legislators earlier this month voted to increase both film and television tax incentives by another $330 million. The new bill was signed into law on July 22 by Governor Newsom, and has two primary features. The currently available  $330 million is being bolstered with an additional $180 million, bringing the annual film tax incentive program total to $410 million. The entirely new component now adds $150 million, allocated towards the construction of soundstages in an effort to meet the ever-growing demand for these studio facilities. These changes could prove vital to meet California's film and television needs, stop production jobs from leaving the state, and potentially coax studios to return that had jumped ship for more enticing offers in other states.

Has your business been disrupted due to COVID-related governmental orders? With the many COVID-19 pandemic challenges endured by small to mid-sized businesses, there is some good news. The newest 2021 Employee Retention Tax Credit (ERTC) program provides eligible businesses with a fully refundable, advanceable tax credit on qualified employee wages, and opens the ERTC program to PPP borrowers for the first time. 

Santa Clarita ranks top 10 in safety, as well as the 4th most ambitious and business ready city in the nation.

Santa Clarita has recently been recognized as being one of the safest cities of its size in the country, and for being one of the most business ready. While it may not seem obvious at first, these two endorsements go hand in hand. They result from deliberate efforts to grow the number and quality of jobs in the Santa Clarita Valley in order to provide great opportunities for residents.

Complete List of Upcoming Webinars 

July 28th, 2021

Details and Registration

August 5th, 2021

Details and Registration

August 10th, 2021

Details and Registration

DrinkPAK Brings 275 Jobs to the SCV Over the Next Four Years

SCVEDC's recent case study about DrinkPAK provides a look at the company's objectives and space needs. The case study illustrates their reasoning behind the decision to relocate to the Santa Clarita Valley and the company’s further expansion. DrinkPAK, the premier West Coast alcoholic and non-alcoholic beverage manufacturer, currently occupies 572,419 SF at the Center at Needham Ranch Industrial Park. Through its high efficiency production lines, this location houses procurement support, complex batching and processing, filling, packaging, and on-site storage and distribution.

DrinkPAK Now Occupies More Than 572,000 Square Feet in Needham Ranch

Six months after signing its first lease in the Center at Needham Ranch (CANR) industrial park, DrinkPAK, the premier West Coast alcoholic and non-alcoholic beverage manufacturer, is already expanding its footprint in Santa Clarita, California.

Currently, DrinkPAK leases 172,324-square-foot at (CANR) and just this week signed two more leases for an additional 400,095-square-feet, bringing their total space occupied to 572,419-square-feet. This location will house the company’s procurement support, complex batching and processing, filling, packaging, and on-site storage and distribution.

Celebrating Economic Development Month

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, 2020 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.

Keeping Your LA County Project On Track Through LA County Connect

One of the primary keys to a Commercial Development project is staying on track and maintaining the proposed schedule. This can be challenging when navigating the many agencies and departments in Los Angeles County. Now through LA County Connect, Santa Clarita developers and design professionals can receive expert advice and guidance – tailored specifically for Commercial Development projects in Plan Review. Developers can preview plans, discuss process and timing, and get the answers needed from LA County departments in a timely manner!

2020 Annual Report

The COVID-19 pandemic brought both health implications and serious economic ones. In 2020, the Santa Clarita Valley Economic Development Corporation celebrated its 10th anniversary, and the work of the organization has never been more vital! SCVEDC continues to focus on business assistance, business attraction and retention, community marketing, and information and data. Despite the numerous obstacles of the past year, there are many bright spots; most notably, the incredible support, innovation, and resiliency of our business community, including the many SCV companies that quickly pivoted to manufacture PPE and sanitizers, or offered their teams in volunteer capacities.

Industrial Market in SCV Never Missed a Beat 

While the COVID-19 crisis initially gave many companies pause for good reason, 2020 was an exceptionally good year for industrial real estate across the board, the Santa Clarita Valley included. In 2020, the SCVEDC was pleased to announce that several new companies chose to locate in the Santa Clarita Valley including two Amazon fulfillment centers, DrinkPAK, a beverage manufacturer, and a state-of-the-art medical testing lab. Several SCV companies expanded as well, including P3 Inc., LA North Studios, Lief Labs, 24/7 Events and Mellady Direct Marketing.

Santa Clarita Valley’s Medical Professionals Rise to the Challenge 

There is no doubt that 2020 was a challenging year for all, but most especially those on the front lines caring for those who are gravely ill with COVID-19. It was hard to predict in March how our region would be affected, but those heading up the medical response had been preparing for something like this for a long time.

GO-Biz Hosting Webinars for Businesses Interested in Applying for
 $80 Million in Tax Credits

Have you heard about the California Competes Tax Credit? It’s a state income tax credit supporting 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.

Three Important Online Resources Offered by SCVEDC 

The Santa Clarita Valley Economic Development Corporation is an organization dedicated to attracting, retaining, and growing business opportunities for the Santa Clarita Valley. That mission is more important than ever. While most of our usual face-to-face meetings are temporarily on hold during the COVID-19 pandemic, SCVEDC has many online resources to help your company with a variety of issues you may face. Here are just a few free resources to help your business:

The City of Santa Clarita and SCVEDC Award Local Small Businesses with COVID Relief Grants

The City of Santa Clarita and Santa Clarita Valley Economic Development Corporation (SCVEDC) are excited to announce that 149 small businesses within the Santa Clarita Valley were approved to receive a one-time financial reimbursement for COVID-related expenses of up to $5,000 per individual business, as a part of the Santa Clarita Small Business COVID Relief Grant.

Interested applicants began receiving their approval or denial letters beginning on Thursday, November 19. Verified eligible businesses that have met all specified grant qualifications and requirements can expect to receive grant funds by the end of the year.

Holly Schroder named Chair of the Los Angeles County Workforce Development Board

Holly Schroeder, President and CEO of the Santa Clarita Valley Economic Development Corporation (SCVEDC) has been selected by fellow Workforce Development Board Commissioners to serve as Chair of the Los Angeles County Workforce Development Board (WDB).

The NEW 2020 Economic Outlook Forecast 

The economic shutdown due to the COVID-19 pandemic coincided almost perfectly with the Santa Clarita Valley Economic Development Corporation’s previously scheduled, and ultimately canceled, Economic Outlook Forecast on March 12. In the six months that have ensued, SCVEDC's economist, Dr. Mark Schniepp of California Economic Forecast has been keeping a close eye on the rapidly evolving economic impacts of the shutdown on a national, state and local level.  On September 17, 2020, Schniepp presented a revised Economic Outlook Forecast at our rescheduled virtual conference. Though an economic recovery is underway, he predicts it will proceed slowly for the rest of the year and that full recovery will be out of reach until a vaccine or cure for COVID-19 is widely available. 

Southern California Edison's Wildfire Mitigation Plan

Since many businesses experienced SCE power shutoffs last year, SCVEDC has been communicating with officials at the organization about its fire prevention and mitigation plans.

Earlier this year, Southern California Edison announced plans to inspect thousands of miles of power lines, remove trees as necessary in high-risk areas, and segment certain components of power lines as part of a $582 million Wildfire Mitigation Plan. These improvements greatly reduce the likelihood of wildfires and preemptive, public safety power shutoffs (PSPS) in SCV business parks. 

 Riedel Communications Brings North American Headquarters to SCV 

The Santa Clarita Valley Economic Development Corporation is pleased to announce that Riedel Communications is relocating its North American headquarters to the Santa Clarita Valley. Riedel Communications designs, manufactures, and distributes innovative real-time networks for video, audio and communications. Its products are used for broadcast, pro-audio, event, sports, theatre and security applications worldwide. 

New Commercial and Industrial Development Will Help Spur Economic Recovery in SCV

The Santa Clarita Valley is growing, and that's a good thing. According to Dr. Mark Schniepp of California Economic Forecast, new commercial and industrial development and construction will help spur the economic recovery in our region.

SCVEDC BOD Members and CEO Named to Valley 200

Several members of the Santa Clarita Valley Economic Development Corporation’s Board of Directors have been named to the San Fernando Valley Business Journal’s Valley 200 list announced on July 20. Holly Schroeder, President & CEO of SCVEDC has also been recognized as a Valley 200 Icon of Influence, along with SCV business owner Cheri Fleming, CEO of Acura of Valencia and SCVEDC Board Member Tamara Gurney, President of Mission Valley Bank.

Leading Aerospace Companies that Call SCV Home

The Santa Clarita Valley (SCV) is within easy reach of Los Angeles: only 30 miles from downtown LA and 7 miles from its northern border. The fastest-growing community in Los Angeles County, the Santa Clarita Valley is home to a population of nearly 300,000 and the third largest city in LA County, the City of Santa Clarita.

The New Economic Outlook - A Slow and Bumpy Recovery on the Way?

SCVEDC recently hosted a webinar with Dr. Mark Schniepp from the California Economic Forecast to get an update on the current state of the economy and learn what has changed over the past few months. This webinar was part of a series co-hosted with the SCV Chamber and funded in part by a grant from the Wells Fargo Foundation. Here is a brief recap of the New Economic Outlook as presented by Dr. Schniepp:

8 Steps to Speed the Economic Recovery for All

This op-ed was originally published in the Santa Clarita Valley Signal

The Santa Clarita Valley Economic Development Corp. is a public-private partnership focused on growing jobs in the Santa Clarita Valley. Economic development will be more important than ever going forward, and all of our partners will play a role in the recovery of our economy.

SCVEDC and SCV Chamber Host Back2Business Webinar Series to Aid Businesses in Reopening

The Santa Clarita Valley Economic Development Corporation in partnership with the SCV Chamber of Commerce launched a webinar series in May to provide insights on many aspects that businesses need to consider as they plan strategies for rescaling and reopening. This Back2Business series, supported by a grant from Wells Fargo Foundation, uniquely engages SCV business and community leadership in sharing their experiences to date, outlook in the coming months, and practical guidance to both B2B and B2C businesses in the Santa Clarita Valley. Seven webinars were held in May.

SCVEDC CEO selected to participate in Business - Corporate/Manufacturing Working Group as part of LA County’s new Economic Resiliency Task Force

Holly Schroeder, President & CEO of the Santa Clarita Valley Economic Development Corporation has been invited by Supervisor Kathryn Barger to participate in the Business – Corporate / Manufacturing working group that will report to the County’s new Economic Resiliency Task Force. The Task Force met for the first time on Friday, May 8, 2020.