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4 n Thursday, April 4, 2019

Coastal View News • Carpinteria, California

Carpinteria economy shows continued signs of strength Chamber of Commerce holds State of the Community and Economic Forecast luncheon


Business and civic leaders from across Carpinteria Valley received good news at the Carpinteria Valley Chamber of Commerce’s State of the Community and Economic Forecast luncheon at Rincon Beach Club on March 26. Ahead of the release of the 2019 Carpinteria Economic Profile, Mark Schniepp, director of California Economic Forecast, pleased the crowd with several findings that indicate strong economic health for the region. The report, commissioned by the city of Carpinteria, will be published in its entirety at the end of the month. In summary, Schniepp stated that job growth was stellar in 2018, showing “continued strength in 2019.” Commercial and residential spaces are sparse in both rentals and sales markets, with not much new development in the valley. While the visitor industry continues to flourish, “technology is the engine of growth in Carpinteria,” said Schniepp. At the end of 2018, there were 7,200 employed residents and 9,500 jobs, an increase in both the labor market and job openings. Just under 300 new jobs were created in 2018, more than the region has seen in at least a dozen years. Among the largest employers in Carpinteria Valley are Procore (850), Carpinteria Unified School District (365), LinkedIn (312), Nusil (284) and Agilent (250). At the same time, Carpinteria has an unemployment rate of 4.5 percent, 0.7 points above the national average. Countywide, the Carpinteria tech sector is leading in jobs creation with four


Speakers at the annual Chamber of Commerce luncheon are, from left, First District Supervisor Das Williams, Carpinteria Mayor Wade Nomura, Chamber CEO Joyce Donaldson, Director of California Economic Forecast Mark Schniepp and Vice President of Cox Communications Kirsten McLaughlin. of the top 10 job creators—Raytheon and Procore take third and fourth place (behind UCSB and Sansum) and Lockheed and Appfolio coming in sixth and seventh. In 2018, five hotels in Carpinteria (nearly 600 rooms) were occupied on average 69.8 percent of the time, with a

total annual revenue of $22 million. The occupancy rate is steady with the year before, but well-below averages achieved in 2015 and 2016 which reached above 73 percent. Carpinteria State Beach had nearly 900,000 visitors bringing in $3.4 million in direct fees to the State Park and $30 mil-

lion to city vendors. The city saw roughly $123 million in taxable sales in 2018. Overall, despite ebb and flow overtime, most economic indicators are firm or rising, according to Schniepp. The complete 2019 Carpinteria Economic Profile will be released at the end of April.

Thank you, Carpinteria, for 41 years of love and support. ~ the Ngo family

Anh and Ha Ngo of Linden Laundromat welcome new owners Lalo and Maribel Rivera.

Profile for Coastal View News

Coastal View News • April 4, 2019  

Free weekly newspaper for the Carpinteria valley.

Coastal View News • April 4, 2019  

Free weekly newspaper for the Carpinteria valley.