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Inland Empire’s Housing Lag May Hurt Sustained Economic Growth
The Inland Empire experienced strong economic growth in 2017, a trend projected to continue in 2018, according to a Regional Intelligence Report from the UC Riverside School of Business’ Center for Economic Forecasting & Development. Yet despite employment increases and taxable sales gains that surpassed statewide numbers, future growth may be constrained due to a lack of affordable housing.
The report found that new housing lags behind population growth in both Riverside and San Bernardino counties.
Factors driving the growth include expected sustained passenger increases at Ontario International Airport, the $285-million expansion of Pechanga Resort & Casino, as well as overall growth in commercial and industrial real estate.
Growth Numbers:
– Construction: 109,800 jobs, up 15.4% with 14,700 jobs added
– Transportation and warehouse: 105,500 jobs, up 5.3% with 5,300 jobs added
– Leisure and hospitality: 170,400 jobs, up 5.1% with 8,300 jobs added
– Education/health: 225,200 jobs, up 3.5% with 7,500 jobs added
– Taxable sales up 8% in Riverside County with Corona leading at 17%
– Taxable sales up 3% in San Bernardino County with Fontana leading at 8.2%
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Economy


