The Santa Clarita Valley Economic Development Corporation has released the 2022 Santa Clarita Valley Business Survey Results. The publication is now available for download.
Local companies positively rate the business climate and quality of life in the Santa Clarita Valley. That’s the key takeaway from the Santa Clarita Valley Economic Development Corporation’s 2022 Business Survey of 155 companies.
Given the backdrop of the past two years in grappling with the effects and aftermath of the COVID-19 pandemic, the SCVEDC conducted a comprehensive Business Survey outreach to local businesses in March 2022 as a post-pandemic extension of SCVEDC’s ongoing business retention program.
Business input through the survey process is utilized to assess the current and forecasted business climate, as well as identify actionable needs and priorities of existing industry in the SCV.
Companies included in the survey represent different business sectors within the SCV, with a proactive outreach to key industry clusters that necessitate skilled labor, experienced leadership, and higher wages. Outreach also included larger companies whose presence in the SCV make a significant economic impact.
The 155 survey responses comprise the findings in the survey report, including follow-up qualitative research conducted with 22 SCV survey respondents in a diversified range of business sectors and sizes.
The Business Survey covered five topics, including:
–COVID Impact
–SCV Business Climate
–Company Business/Forecast
–Company Operations
–SCV Resources/Business Needs
A key focus of the survey was to assess the SCV Business Climate and identify opportunities to remedy problems or invest for continued success. Respondents were on the verge of being effusive in their praise of the SCV business climate, almost as much as they were stridently frustrated with the overall climate in the state of California. A total of 82% indicated that the business climate is good or extremely good in the SCV. When asked the open-ended question of the biggest challenge facing companies, remarks about the CA tax and regulatory environment abounded.
If the positivity about the SCV business climate wasn’t enough, responses about the quality of life in SCV were stunning. A total of 91% answered that the quality of life was somewhat or extremely good, of which 57% said extremely good.
Not surprising given the widespread shifts in labor markets and the “Great Resignation,” the most pressing issue facing business is the ability to find the workers they need to compete in the global market. Many of the surveyed companies operate businesses that demand in-person work, such as manufacturing and TV/film production. While many of these companies expressed a preference for workers to return to the office, even those with positions that could work from home expressed a desire to reduce the availability of remote work as the pandemic abates. At the same time, business leaders recognize that some degree of hybrid work is likely here to stay and identified the need to improve broadband services to support it.
This survey revealed a range of concerns, from broader issues at the state and federal level to actionable opportunities at the more local level.
While the SCVEDC will continue communications with state and federal representatives to deliver feedback and information from the SCV business community, we believe there are new opportunities to support business success and
address leadership concerns expressed by SCV business leaders.
The following are actionable recommendations to support the business community based on survey findings:
–Addressing broadband concerns
–Addressing public safety and crime/theft concerns
–Addressing need for increased dining/culinary options
–Addressing workforce challenges
–Addressing workforce training and development needs
–Addressing executive peer-to-peer communications
–Promoting SCV-wide approaches to rules, infrastructure, and priorities
Click this link to read the full survey results, including an appendix with all respondent data.
The Santa Clarita Valley Economic Development Corporation is a unique private/public partnership representing the united effort of regional industry and government leaders. The SCVEDC utilizes an integrated approach to attracting, retaining and expanding a diversity of businesses in the SCV, especially those in key industry clusters, by offering competitive business services and other resources.
The SCVEDC is excited to announce that it was recently honored for excellence in economic development by the International Economic Development Council in two distinct categories.
After 12 years of collaborative efforts within our community, the work of the Santa Clarita Valley Economic Development Corporation has never been more vital.
In June 2015, the Santa Clarita Valley Economic Development Corporation partnered with the Santa Clarita Valley Chamber of Commerce and Valley Industry Association and completed 50 visits and surveys with companies in the Santa Clarita Valley. Each business was surveyed on a range of topics to gauge their perspectives on…
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