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Economists’ Bullish Inland Empire Outlook
Economists like what they see in the Inland Empire. The regional economy is expected to continue humming along at a rapid clip in 2018, fueled in part by low unemployment, positive wage growth and evidence of a healthy housing market.
Beacon Economics and UC Riverside economist Christopher Thornberg’s bullish San Bernardino County outlook was clear at a recent San Bernardino County Forecast Conference. He said, “Every single number suggests San Bernardino and the Inland Empire is on fire.” The region experienced nearly 3% job growth, the most rapid growth rate of any California metro with at least a million workers.
San Bernardino County’s surging job and population growth are proving to be a critical driver for retail activity, too. San Bernardino County Economic Development Agency’s Reg Javier says, “We have long been a market of firsts, Del Taco and McDonald’s started here, and more recently we are leading the state with the first Cracker Barrel and Punch Bowl Social expanding into California. These retailers are here because the people and the income base are here.”
Thornberg’s longer-term view, however, holds less optimism. His concern is that political polarization will lead to U.S. leaders neglecting to address issues ranging from infrastructure needs to wealth inequality. If chronic underbuilding across the state and the Inland Empire continues, Thornberg fears economic growth can’t likely be sustained.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Economy
