DrinkPAK Pre-Leases 200K-SF in Final Phase to Expand SCV Footprint to 770,000 square feet
DrinkPAK Pre-Leases 200K-SF in Final Phase to Expand SCV Footprint to 770,000 square feet
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. In July of last year, Governor Gavin Newsom expanded 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 SCVEDC would like to congratulate everyone who made this years list of most influential leaders in the region, including our own President & CEO - Holly Schroeder. Several members of the Santa Clarita Valley Economic Development Corporation’s Board of Directors have also been named to the San Fernando Valley Business Journal’s Valley 200 list announced on August 1st.
“[The Valley 200 list] is 200 people we consider the most influential in our area - the San Fernando, Conejo, Santa Clarita, Simi and Antelope valleys,” writes Charles Crumpley, SFVBJ publisher and editor, in the August 1st, 2022 edition of the bi-weekly business publication. “They are the leaders we depend on, the ones whose work – whether at the office or in nonprofits or in other ways –improve our community and make our local economy sturdier. [W]e also tend to select those who are active – in professional, political and community organizations.”
SCV Companies: Business Climate in SCV is Robust
Local companies positively rate the business climate and quality of life in the Santa Clarita Valley. That’s the key takeaway from the Santa Clarita Valley Economic Development Corporation’s 2022 Business Survey of 155 companies.
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!
Newmark Knight Frank (“NKF”) negotiates 169,854-Square-Foot Industrial Lease at The Center at Needham Ranch in Santa Clarita, CA.
Newmark Knight Frank (“NKF”) announced it has negotiated a 169,854-Square-Foot Industrial Lease at 21480 Needham Ranch Parkway, at The Center at Needham Ranch. The new tenant, Tire's Warehouse, will occupy newly constructed building 10 at the site. Tire's Warehouse will join current tenants Amazon, LA North Studios, Illumination Dynamics, and recently expanded beverage manufacturer DrinkPAK. With this move to SCV from the San Fernando Valley, Tire's Warehouse has now tripled their facility space in North Los Angeles. Phase 1 at The Center at Needham Ranch is completely leased and construction on Phase 2 is well underway, with buildings 11 through 18 still in the works.
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.
Last week the IAC Commerce Center celebrated the initial raising of the walls in the third and final phase of development. The 7th building is a 113,400 square foot Class A industrial facility. The construction is expected to be substantially completed by the end of this year, and ready for use in Q1 of 2022. Prospective tenants would join current residents Amazon, Bay Center Foods, Happy Returns, and more.
The SCVEDC would like to acknowledge seven local employers AMS Fulfillment, CSI Services, Inc., Lief Labs, LIFT innovate, Medical Breakthrough®, Medical Technology Solutions, LLC, and TLK Fusion Inc. on making it onto this year's list for the fastest-growing companies in the US!
How well do you know the businesses in the Santa Clarita Valley?
Most residents don’t realize that SCV is home to a broad range of companies across major industry sectors including Aerospace & Defense, Advanced Manufacturing, Biotech & Medical Devices, Digital Media & Entertainment, and Information Technology. The Santa Clarita Valley is also one of the few places in LA County that is seeing increasing population growth, with numerous ongoing residential, commercial, and industrial projects.
Over the past several years I have been interviewing many of the leaders of these innovative companies for our podcast series “SCV Means Business”. I am inspired by their commitment and dedication to their employees, as well as our community.
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.
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.
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.
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.
Amazon Inks 2 Deals in the Santa Clarita Valley
Amazon has signed two leases for distribution centers in the Santa Clarita Valley; one in the Needham Ranch development in the City of Santa Clarita and the second at IAC Commerce Center in unincorporated Los Angeles County.
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.
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.
Three Ways Workplace Education Can Encourage Employees
With the constantly evolution across multiple industries and even within individual jobs, it’s no surprise that learning new skills is becoming both a requirement and expectation. It’s no longer enough to go back to school; instead, learning has become a continuous process the workforce is expected to integrate into daily operations to keep up with a business’ growing needs.
SCVEDC to Join TeamCalifornia at MD&M West
Next month the Santa Clarita Valley Economic Development Corporation will join TeamCalifornia as exhibitors at Medical Design & Manufacturing (MD&M) West, the world's largest medical design and manufacturing event on February 11-13, 2020. This expo provides professionals in the industry the ability to network, swap ideas, find inspiration, overcome challenges, and source products so they can continue to develop the latest and greatest medical devices.
Wayforward Technologies - An Independent Video Game Developer and Publisher in SCV
Are you a gamer, or do you know one? Chances are they're familiar with the characters and games developed by this Santa Clarita Valley company.
Five New Year’s Resolutions for Employers
The start of a new year brings the inevitable personal New Year’s Resolutions. While those are often fleeting, this can be a great time for employers to assess their priorities and take action to build a great team. Here are my recommendations for five New Year’s Resolutions that will help strengthen your business in 2020 and beyond.
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.
SCVEDC attends Meet the Consultants in Sacramento, California
TeamCalifornia, a statewide non-profit with a focus on marketing California as a great location for business, hosted Meet the Consultants in Sacramento, California on November 5 and 6, 2019. This two day event offered economic development organizations (EDOs) from across the state opportunities for learning from and networking with top site consultants who gave presentations on a wide variety of topics such as California competitiveness, foreign direct investment, incentives, trends in advanced manufacturing, and labor and workforce.
Are high electricity costs forcing you to consider moving your company out of state? We have some good news for you! Southern California Edison (SCE) has reauthorized their Economic Development Rate (EDR) to attract, retain and expand businesses throughout their territories in California, offering a 12% discount on your energy bill over a 5-year period.
Emergency Preparation: Getting Ready for an External Disaster
How to Create a Positive Mental Health Environment in the Workplace
Previously, we examined the employer’s role in work-life balance for their employees, but we don’t want to stop there. We want to take it one step further to an individual level and look at someone who often lets their own needs fall to the wayside: the business owner themselves.
SCV’s Growth Means More (and Better) Jobs for Residents
If you’ve driven out the 14 or 126 highways recently, you have probably noticed the amount of development and construction along those corridors. And if you’re on Facebook, you’ve probably noticed that some people aren’t happy about that. I’d like to share why this growth is beneficial to the Santa Clarita Valley economy and the people who live here.
The Impact of Health on the Workplace
It’s not exactly a shocking revelation that leading a healthy lifestyle can improve your physical and mental well being, but did you know that it can also have a profound effect on your performance at work, as well? Recently, we’ve begun to see companies incentivize employees with wellness programs, access to onsite workout facilities or discounted health club memberships, and mindfulness/meditation training to not only improve productivity, but also increase employee satisfaction.
The Employer’s Role in Work-Life Balance
As we’ve discussed before, the growing millennial workforce places a premium on flexible schedules, the ability to work remotely, and communication and mentorship from management. And one of the most important factors they’ve identified is having a sense of work-life balance; that is, the ability to work while still having the freedom and time to pursue outside activities.