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WELCOME Inland Empire Regional Economic Vitality Conversation November 4, 2004

WELCOME Inland Empire Regional Economic Vitality Conversation November 4, 2004. Made possible through generous support from Bank of America. Inland Empire 2004 … Opportunities & Challenges!. John Husing, Ph.D. Economics & Politics, Inc. I-15 Freeway.

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WELCOME Inland Empire Regional Economic Vitality Conversation November 4, 2004

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  1. WELCOMEInland Empire RegionalEconomic Vitality ConversationNovember 4, 2004 Made possible through generous support from Bank of America

  2. Inland Empire 2004 …Opportunities & Challenges! John Husing, Ph.D. Economics & Politics, Inc.

  3. I-15 Freeway Where’s The Dirt? 1. Affordable Housing & Population Serving Jobs 2. Industrial Projects & Blue Collar Jobs 3. Expensive Housing, Skilled Workers & High Paying Jobs

  4. Local Job Change 853,894, 1990-2004 … Inland Empire 39.5% of gain in Southern California’s growing areas.

  5. 29,200 Forecast at Just 22,900 Jobs? Forecast IE Job Growth 2004 … Falling Short of Inland Empire Job Growth Rate & Forecast, 1984-2004 56,467 49,850 46,008 41,483 41,025 40,692 40,567 38,325 37,642 36,775 36,533 33,292 30,050 29,200 28,925 24,125 23,083 22,900 16,917 9,758 6,342 4,575 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004e 2004 YTD Source: CA Employment Development Department, Economics & Politics, Inc.

  6. 24 U.S. States! Population As A State, 2003

  7. 47 U.S. States! 1,764 1085 Population Growth, 2000-2020! Population Growth, 2000-2020 Inland Empire & Top 11 States (000) 12,757 5,610 4,401 1,677 1,588 1,334 1,313 1,213 1,207 1,070 1,060 Texas Illinois Florida I. Emp. Georgia Riv. Co. Virginia Arizona N. Carolin Washingto New York California New Jersey Source: U.S. Bureau of Census, Southern California Association of Governments (preliminary)

  8. 21 States!!! Total Personal Income As State, 2002Passed Iowa 21 States Have Less Income

  9. Stage #1:Dirt: Population & Population Serving Job Growth

  10. Don’t Build Them & They’ll Come Anyway! BUILD FREEWAYS & THEY’LL COME

  11. 2003-2004, Inland Empire captured a record 48.4% of Southern California’s New Home Market!

  12. Inland Empire Income Rank Falling

  13. #1. Education #2. Blue Collar Jobs No College Classes, 2000 SCAG 46.8%vs. 50.3% in Inland Areas .

  14. Stage #2Dirt: Blue Collar Jobs

  15. Labor Cost Savings, 2003

  16. Inland Empire Industrial Space: 32.0% of L.A. County

  17. BUT: Manufacturing Disappearing

  18. 3. Issue: Energy Cost

  19. 4. Issue Workers Compensation 5.Only State 8-Hour Day Not 40-Hour Week for Overtime 6. Only StateMandatory Family Leave

  20. Issue 7. 16th Highest Home Prices of 138 U.S. Metropolitan Areas

  21. Ports of Los Angeles & Long Beach Containerized Cargo, 2000-2025 (millions of TEUs) 30.3 17.1 9.5 2000 2010 2025 TEU = 20 foot equivalent units Source: Alameda Corridor-East Trade Corridor, 2001 8,200 Container Post-Panamax Ships 37 Trains For Containers From One Ship Looking Ahead: Huge Cargo Ships!

  22. . . . . Needed: Expanded RR Track Grade Crossings Intermodal Yards Short Haul Rail Toot! Issue 8. State Help: A Financing Mechanism

  23. Lane Separations: Cars & Trucks Issue 8. Again State Help With A Financing Mechanism

  24. ONT is now the only airport capable of becoming Southern California’s second major air gateway.

  25. Inland Air Cargo Due To Explode! LAX 2003

  26. . But A Land Hog! . Logistics A Strong New Blue Collar Sector

  27. Stage 3.-Factors Driving: High Paying WorkStarting NOW!

  28. Affordability Even An Inland Issue

  29. Issue 9: Housing Supply Pricing Future Middle Class – Mostly Young, Blacks & Hispanics - Out of Housing Market

  30. 2003 Median Incomes At/Near Beverly Hills, Including Several Cities much larger

  31. Willing To Work For Less Not To Commute?

  32. Office Lease Costs, 2002

  33. Office Market, 20032ndLowest U.S. Suburban Vacancy Rate

  34. Inland Empire: Center of the Universe? I-15 Freeway State Needs To Create A Competitive Job Environment

  35. Contact: www.johnhusing.com

  36. Economic Vitality Conversation Today’s Focus • What state actions will have the most immediate positive impact on California’s economic recovery? • What state actions will result in the most significant long-term improvement to California’s economic competitiveness and comparative advantage? • How do we best structure an effective partnership between the regions and the state around economic strategy?

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