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John Husing, Ph.D. Economics & Politics, Inc. Chief Economist, IEEP

Discover the thriving High Desert economy with a record level of jobs and strong growth in various sectors. Learn about population growth, job quality, unemployment rates, and the impact on poverty. Explore the opportunities in manufacturing, construction, healthcare, and more. Find out about the competitive price advantage, stable mortgage market, and improving office market vacancies. Get insights into the rising office asking lease rates and the increase in professionals and management jobs. Don't miss the positive trend in assessed valuation and purchasing power growth.

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John Husing, Ph.D. Economics & Politics, Inc. Chief Economist, IEEP

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  1. High Desert Economy . . . John Husing, Ph.D. Economics & Politics, Inc. Chief Economist, IEEP

  2. After Losing 8.71 Million Jobs … Now At A Record Level of JobsU.S. Jobs Long Slow Growth - Not Over-Heating

  3. California Job Gains/Losses Up 1,064,038 6.7% Up 2007 15,844,325 2016 16,908,363 Recovery 2,243,097 Great Recession -1,179,058

  4. Inland Empire Population Greater Than 25 of 50 States 2010-2016 Growth: 6.2%

  5. High Desert Population In Cities 349,249 2010-2016 Growth: 6.0%

  6. Population Growth Rates

  7. Inland Empire Economy Gaining Strength!

  8. Job Quality

  9. Unemployment Rates

  10. The Issue: Poverty

  11. Gold Mine Theory Secondary Tier Primary Tier

  12. Sophisticated Warehousing Operations

  13. Value of the Dollar:Helps Imports & Hurts Exports 100.0 2012-2016 25.6%

  14. Port Container VolumesOn Pace To Tie 2nd Highest Import Level

  15. Net Industrial Space Absorption 17.1 million

  16. Industrial Vacancy Rate Low Everywhere! 2005/2006 2009Q3 2016Q4 High Desert 5.0% Inland Empire 2.7% 12.8% 4.0% San Diego 7.0% 12.0% 3.6% Central Valley NA NA 1.9% Orange Co. 5.4% 6.5% 1.6% L.A. Co. 2.1% 3.2% 1.2% Source: CB Richard Ellis & Coldwell Banker

  17. E-Commerce Growth RatesYear Over Year by Quarter 1.1% 8.4%

  18. Industrial OverwhelminglyIn The Inland Empire

  19. Industrial Asking Lease Rates Soaring High Desert $5.88 Up 17.5%

  20. Logistics Powerful Job Growth • 2011-2016 • 23.1% of New Jobs • Median Pay $45,456

  21. Manufacturing: Should Be A Major Growth Source

  22. California Manufacturing Job GrowthJust 4.8% of U.S. Growth

  23. Inland Empire Manufacturing Jobs • 2011-2016 • 5.5% of Job Growth • Median Pay $50,106

  24. Construction: Finally Coming Back

  25. Existing Home Sales

  26. Existing Home Sales By City, 2016

  27. New Home Sales

  28. New Home Sales By City

  29. High Desert Existing Home Prices 104% -31%

  30. High Desert New Home Prices 74% -27%

  31. Existing Home Prices By City, 4th_2016

  32. New Home Prices By City, 4th_2016

  33. Long Term Competitive Price Advantage Still Exists

  34. Mortgage Market Has Stabilized …Low Numbers of Notices of Default

  35. Apartment Rental Rates & Vacancies. Riverside $1,367 4.6% San Bernardino $1,418 3.9% Orange $1,637 3.4% Santa Barbara $1,682 2.7% San Diego $1,873 3.2% Ventura $1,890 3.9% Los Angeles $2,180 4.0% Source: CB Richard Ellis

  36. Inland Empire Construction Jobs • 2011-2016 • 12.8% of Job Growth • Median Pay $51,915

  37. Health Care

  38. Potential Impact On Health Care Demand & Quality of Life -51.0% Drop in Uninsured

  39. Health Care Jobs: Continuous Growth • 2011-2016 • 11.6% of Job Growth • Median Pay $59,494

  40. High Paying Sectors Ahmad Adel Al-Khatib Jack Dangermond

  41. BA or Higher

  42. Office Market Vacancies Improving 24.2% 12.4%

  43. Office Vacancy Rates Recovering But Remain High! 2006Q4 2009Q4 2016Q4 Ventura NA NA 16.6% Inland Empire 7.6% 22.6% 12.5% L.A. Co. 9.4% 14.1% 12.4% Central NA NA 11.9% San Diego 10.1% 18.0% 11.5% Orange Co. 7.3% 18.7% 9.7% High Desert 5.8% Source: CB Richard Ellis & Coldwell Banker

  44. Office Asking Lease Rates Rising Down -8.2% High Desert $1.40

  45. Professionals & Mgmt., Higher Ed., Mining Utilities, Information Group Slowly Adding Jobs 2011-2016 0.4% of Growth Median Pay $71,206

  46. Assessed Valuation Finally, Purchasing Power Growth! 14.1% FY 2009-2018 Inflation: 11.7%

  47. High Desert Assessed Valuation -10.2% SB Co. +14.1%

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