Santa Clarita Firms Anticipate Growth
Half of the businesses responding to what was billed as one of the largest economic research efforts ever undertaken in the Santa Clarita Valley region said that their survival and growth depend on improved economic conditions and fewer regulations.
Nevertheless, an average 15% increase in gross revenues was expected by the respondents this year compared with 1994, and they anticipate 25% growth next year. About 80% said they were holding steady or growing, and nearly half plan to expand within two to three years. And of the 608 companies responding to the areawide survey, only 7% plan to relocate outside the region.
“Given the recent economic climate, the health of area businesses is remarkably strong,” said Leigh Engdahl, executive director of the Santa Clarita Valley Chamber of Commerce, one of the sponsors of the survey.
The survey was conducted by the College of the Canyons, which mailed questionnaires in June to the more than 7,000 businesses in the Santa Clarita region. The findings, released Wednesday, will be used to help in planning and decision-making over the next three to five years, project participants said.
More than one-third of the companies responding to the survey identified themselves as service businesses, while the next largest category was retail, comprising 21% of all respondents. Nearly 60% described themselves as small businesses, and 18% said they were minority-owned. The most frequently cited reason for businesses locating in the Santa Clarita Valley was quality of life.
Businesses in the region expect to hire thousands of employees during the next three to five years, the study found. Food and beverage service, technical, managerial, professional services, sales, and scientific and medical products jobs are projected to be in highest demand. Employers said they most needed workers with computer, communications, customer service, sales and general office skills.
Other sponsors of the survey included the city of Santa Clarita, William S. Hart Regional Occupational Program, Wells Fargo Bank, Health Net and Southern California Edison.
