SCV Business Journal March 2022

SANTA CL A R I TA VA L L E Y

BUSINESS O F F I CI A L P U B L ICAT IO N O F TH E SCV CH AM BER OF C OM M ER CE

J O U R N AL

MARCH 2022 VOL 14 • No 3 SIGNALSCV.COM/BUSINESS

ROGER SEAVER LEADING OUR COMMUNITY HOSPITAL Santa Clarita Stock Index Keller Raggio Econowatch and More!

2

M A R C H 2022

SCV BUSINESS VOICES

Don’t Let Streaming Spoil Your Sleep PATRICK MOODY

Henry Mayo Newhall Hospital

W

ait, it can’t end there! Anyone who’s ever encountered a cliffhanger at the end of an episode knows all too well the temptation to watch “just one more.” Streaming services are set up to feed that appetite. However, that can lead to some late nights and groggy mornings. In fact, a whopping 88% of U.S. adults say they’ve lost sleep because of binge-watching, according to a 2019 survey from the American Academy of Sleep Medicine (AASM). That number jumps to 95% for adults ages 18 to 44. Finding out what happens next may come at a cost. When you don’t get the seven to eight hours of sleep most adults need every night, your mood, your ability to concentrate—at work, school or home—and even your ability to drive safely, may suffer. Over time, missed shuteye raises your risk of serious health problems, too, including type 2 diabetes, heart disease, obesity and depression. A Healthy Balance To break the cycle, you don’t have to give up your favorite shows. With some small changes, it’s possible to stream without skimping on sleep. Here are four workarounds the AASM suggests: Set an episode limit each night before you start watching—and stick to it.

Take a break between each episode to avoid being sucked in by the auto-play loop. Download episodes instead of streaming to control how many you watch in a row. Catch up on viewing on weekends instead of staying up late during the week. Screen Smarts Even if you limit streaming, late-night exposure to screens can make it harder to nod off at night. So the AASM advises turning off all screens at least a half hour before tucking in. Here are some more tips to help you get a good night’s sleep: Dim the lights in your home as bedtime approaches Keep your bedroom cool – somewhere between 60 and 67 degrees

Block out neighborhood noises by running a fan our using a sound machine Use blackout curtains to keep your room dark. Pleasant dreams!

Patrick Moody is the director of marketing and public relations at Henry Mayo Newhall Hospital. For more information about local community health programs, visit HenryMayo. com. 

M A R C H 2022

S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L · 3

4 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

M A R C H 2022

C O N T E N T S NEWS & FEATURES 7 8 9 25 27

CEO Spotlight: Roger Seaver Chamber Hosts Employment Law Update Small Employer Health Care Tax Credit Santa Clarita Stock Exchange Econowatch

LIST

8 EMPLOYMENT LAW UPDATES

26

Oldest Businesses

FROM THE EXPERTS 6 20 21 24

Ken Keller: Questions on Positioning and Profits Paul Raggio: What are Leadership Routines? Paul Butler: Going the Extra Mile Prang: A Look Back with the 2021 Annual Report

SCV BUSINESS VOICES 2 5 10 11

9 small employer health care tax credits

Henry Mayo Newhall Hospital Audiology Associates SCV Economic Development Corp. Pierson Wealth Management

CHAMBER SPOTLIGHTS 13 14 15

Business Councils Celebrating SCV Businesses Upcoming Events

March 2022 | Vol. 14 | No. 3

PUBLISHER

Richard Budman rbudman@signalscv.com (661) 287-5501

BUSINESS JOURNAL EDITOR Doña Uhrig

SALES REPRESENTATIVES Maureen Daniels Jennifer Ramos Barbara Ward

A proud publication of

SINCE 1919

SignalSCV. com Santa Clarita Valley Business Journal (a Signal publication), © 2022, is published monthly by the Santa Clarita Valley Signal newspaper, Paladin Multi-Media Group, Inc., 25060 Avenue Stanford, Ste 141, Valencia, CA 91355. The SCV Business Journal is intended to provide business executives with a cross-section of industry news and information, trends and statistics that impact our growing community. Information gathered in the pages of the SCV Business Journal has been collected from what are considered reliable sources, and is believed to be accurate, but cannot be guaranteed. Articles may not be reprinted without publisher’s written permission. For reprint requests, please call (661) 259-1234.

5

M A R C H 2022

SCV BUSINESS VOICES

Hearing Loss and Other Conditions DR. KEVIN BOLDER

C

AuD, Audiology Associates

ertain medical conditions may increase your risk for hearing loss. If you have impaired blood flow through the body, you’re more likely to develop hearing loss. Learn more about which conditions can affect your hearing. Diabetes Around 30 million Americans have diabetes, and they are twice as likely to experience hearing loss. Diabetes leads to high blood pressure, which may result in blood vessel damage throughout your body. Your ears are particularly sensitive to blood flow, so damage there can quickly develop into hearing loss. You can help protect your hearing health by controlling your diabetes with prescribed

medications. Monitoring and keeping your blood pressure in check, exercising moderately each week, and eating a healthy diet to help manage your weight will also help reduce your risk. Heart Disease When your heart health suffers, plaque builds up in the arteries and disrupts blood flow. Similar to diabetes, this can cause damage to your inner ear and result in hearing loss. Research suggests this hearing impairment could be one of the earliest signs of heart disease, making annual hearing exams is crucial to your overall health. High Blood Pressure (Hypertension) If you have hypertension, your hearing loss may result from the same blood vessel damage that affects diabetics. Acting early may help you maintain your hearing health, so speak to

your doctor about strategies for controlling you blood pressure. In addition to healthy diet and exercise habits, quitting smoking and avoiding alcohol can help many individuals achieve a healthier blood pressure level. While you and your doctor can manage your symptoms to reduce health risks, you may have already suffered some degree of hearing loss. If you notice any changes in your hearing, come speak to us. To schedule a hearing evaluation today, please call Audiology Associates at (661) 2841900. Kevin Bolder, Au.D. and John Davis, Au.D. are two of the best in Santa Clarita and San Fernando Valley. Visit our website at www. AudiologyAssociates.net or stop by our NEW office located at 25425 Orchard Village Road, Suite 220, Santa Clarita, CA 91355. We are hearing healthcare excellence! 

6 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

M A R C H 2022

Questions on Positioning, Profits KEN KELLER

SCVBJ Contributing Writer

W

hat does your company do differently than the competition? What does it do better than the competition? What does it do that is special? The agenda behind these three questions is simple: to uncover sustainable competitive advantages. Discovering what sets your company apart and sending that message consistently to your prospects and clients yields high returns. Does your company have a solid lead generation and lead tracking system? I can’t think of any company that ever put together a plan or projection showing anything other than growth. But revenue declines and a shrinking client base happens more frequently than anyone believes. With a system for generating leads and tracking them through your sales funnel you are more likely to turn things around. Are your employees clear on the difference between cash and income? While most privately held companies wish to maintain the secrecy of financial data, you would be wise to educate all employees between cash flow and income to the business. You’d be amazed how many great ideas your employees have for helping the company improve cash flow. Do your employees understand how much money it takes to run the company? CEOs often think that employees will be upset when they find out how much money the boss makes. Financially educated employees really want to know how they can help the company be more efficient and profitable so that they can earn raises. Do your employees understand the impact that the cost of goods or the cost of services has on gross profit? Reducing this cost increases profits. If you teach your employees how this con-

Discovering what sets your company apart and sending that message consistently to your prospects and clients yields high returns.

Educating employees to understand the difference between cash and income, the impact of cost of goods on gross profit, how exceptional customer service impacts company profits and how to create a “value belief” in your customers can have a dramatic impact on your bottom line.

cept works, they can likely find additional ways to save. Just ask them for help. Do your employees see the direct correlation between exceptional customer service and company profits? The quality of your product or service can leverage your margins. Strong quality and value support raising prices. Communicate to your customers as to why your quality is critical to their business. Create a “value belief” in your customer’s mind — linking you to them because of how you can impact their customers’ success. Don’t stop at just telling your customers that your quality exceeds industry standards. Go on to tell them why that makes a difference to them and even more so to their customer. Does your company have a disciplined and sound execution strategy for each product or service offered? Without the focus to execute a strate-

gic plan, profits may well remain elusive. Execution is a discipline and integral to strategy; it is the major job of the CEO. Execution must be a core element of your company’s culture. Execution is a systematic way of exposing reality and acting on it. Does your company recognize, and reward people based on innovate thinking? Company innovation should be a global mindset in your company, consistently improving how you do business. Can you find ways to innovate how to process orders quicker; identify internal processes that can reinvigorate your company; recreate and improve how you communicate with customers? If your employees, who are the key components of all those processes and procedures, are energized to continually improve upon the little things, profits will improve. 

S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L · 7

M A R C H 2022

CEO Spotlight: Roger Seaver HENRY MAYO NEWHALL HOSPITAL BY JIM WALKER

Signal Staff Writer

F

or many longtime SCV residents, the name Roger Seaver seems to have always had a positive association with Henry Mayo Newhall Hospital. And that’s not surprising because Seaver, the president and CEO of the hospital, has been at its helm since 2001. He has guided it through a period of recovery and then into an extended period of impressive growth that continues today. The 357-bed, not-for-profit community hospital and trauma center features a state of the art intensive care unit, breast, neonatal and cardiovascular care, as well as multiple other care specialties. And, it is interesting to look back at its evolution under Seaver’s direction, and, in fact, the evolution of the man, himself.

Course Corrections

Seaver was raised on a farm in South Dakota and earned his bachelor’s degree in business from the University of South Dakota in 1971. He was an ROTC cadet that resulted with his induction into the U.S. Army as an officer. Completing his Army training at Fort Benning, Georgia, he was slated to command a company of infantry in Vietnam — but, with the reduction in forces occurring then, he had the opportunity to be released from training. He went to work with F.W. Woolworth in Milwaukee, as a store auditor and was soon able to transfer to Huntington Beach, which, though not his first choice, worked out well. However, the travel required for his auditor job soon began to wear him down, and, in 1973, he took a job with the Lutheran Hospital Society in Los Angeles — again as an auditor. “The Lutheran Hospital Society is a leader in hospital system development,” Seaver said, and this opportunity for growth is, of course, where his career turned toward hospitals. However, his early association with Henry Mayo Ne-

Henry Mayo Newhall Hospital President and CEO Roger Seaver. PHOTOS BY DAN WATSON/ THE SIGNAL whall Hospital was only in auditing its fundraising and donations while it “was only an onsite trailer.” Seaver’s career then spanned 19 years at Glendale Memorial Hospital, during which time he earned his MBA from Pepperdine University and rose to the CEO position. When Glendale Memorial and Northridge Hospital Medical Center merged with the Catholic Healthcare West system in 1998, Seaver became CEO of Northridge Hospital Medical Center. But additional mergers, and the reversing of significant agreements he had negotiated, soon disillusioned him. “I exercised my escape clause,” he said, and began work in the technology sec-

tor. “I really wasn’t intending to work with hospitals again,” Seaver said. However, Henry Mayo was then having difficult times, both with its finances and its reputation, and a friend of Seaver’s was hired to correct this. His friend asked him to help plan these corrections, and when the friend left, “I inherited the plan,” he said. This was his first as an independent contractor, but in April of 2001, Seaver was hired as the hospital’s CEO. “It was a great opportunity to be back in an independent hospital,” he said. “I knew the problems, and knew I had the support of the board of directors. It was a foundation for future success.” See SEAVER, page 16

8 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

M A R C H 2022

Chamber Hosts 2022 Employment Law Update BY SARAH SIKANDAR Signal Staff Writer

S

tate employment laws have only gotten trickier to navigate through the COVID-19 pandemic, business owners were told Monday as the Santa Clarita Valley Chamber of Commerce held its annual Employment Law Update in person for the first time since the pandemic began. Brian Koegle, a partner at Poole Shaffery & Koegle, LLP, spoke to an audience of mainly small-business owners and members of the SCV Chamber of Commerce about the latest updates in employment law, COVID-19 regulations, and new federal and state regulations. “If you don’t get it right, you might be going to jail.” Koegle started with the minimum wage of Los Angeles County, which is $15 per hour if you have 16 or more employees. He said the responsibility lies with the employer, not the employee, to be updated regarding the latest state and county wage regulations. He spoke about the differences in federal and state minimum salary requirements, as well as computer-related occupations. A written job description, he said, is crucial and must be updated regularly. Here, too, the burden lies with the employer. This includes an employee handbook to ensure “that your policies are consistent with what you’re actually doing in practice,” which could come in handy especially during possible litigation. While talking about wage and hour requirements, he reminded the employers to keep updated data. Rounding off employee hours worked is permitted — however, it

Brian Koegle discussed the latest updates to California employment law at a recent Chamber event.. PHOTO BY SARAH SIKANDAR / THE SIGNAL

is never permitted for meal periods. Meal and rest periods must be paid at “regular rate of pay,” he added. He also reminded that employers with more than a hundred employees must file a pay data report with state agencies. In California, those who have 100 or more employees must file a pay data report with the state of California Labor Commissioner’s Office before March 31. The failure to do so could result in a $100-per-day penalty for each day. Any employer who doesn’t have specific and detailed pay data, and job descriptions to match the pay data, will be out of compliance. Meal and rest periods, he said, are a grey area. This means that employers must be vigilant about their employees’ checking in and checking out times. “When someone is clocking in and out for the day, there should be four punches on every employee’s time clock every single day,” he added. “If you’re missing punches, you need to make sure you’re going back and filling those in with the employee as quickly as possible.” The other big issue for the post-pandemic era has been reimbursing expenses since many employees had to work

from home. He said employers now have an automatic obligation to reimburse things like home internet, work-related cellphone communication, even a new keyboard or office supplies. Moreover, employers must be cognizant of the need to reimburse an employee for using his or her personal vehicle for office work. He recommended using the IRS reimbursable rate for 2022, which is 58.5 cents per mile for business travel. This, he reminded, could increase because of increasing gas prices. Talking about independent contractors, he reminded the audience that Assembly Bill 5 – which codifies standards and clarifies exemptions regarding whether a worker is classified as an employee or an independent contractor – went into effect on Jan. 1, 2020. It’s important to classify employees and independent contractors correctly, and to ensure they meet the corresponding legal requirements. If an employer has any control over the employee’s working hours and conditions, “they are your employees, they are not independent contractors.” COVID-19 disrupted small and large businesses without discrimination. Compliance to post-COVID measures has

never been more important, he said, while talking about the confusion and ever-changing vaccine regulations. California’s Division of Occupational Safety and Health (Cal/OSHA) has an emergency temporary standard, which continues to April 22, and is expected to be extended to Sept. 30. Every business, regardless of size, must maintain written policies and protocols regarding COVID-19 rules including “how you’re dealing with exposure in the workplace, how you’re dealing with cleaning, what you’re going to do in the event of an outbreak,” and what an employee should do in the event they or someone near them gets sick. If nothing else, he recommends sharing the Centers for Disease Control guidelines. “It’s better than nothing.” The state of California has reimposed the COVID-19 supplemental paid sick leave that was in place back in 2021. “It is a mandated paid sick leave,” in addition to the 2014 Healthy Workplace Healthy Family Act of 2014, which requires employers to provide paid sick leave to all employees if they’re working 30 hours or more per year. Technically, last year, there was 80 hours of paid sick leave per employee. Employees are entitled to 40 hours of paid sick leave. If somebody tests positive, yourself or an immediate family member you need to care for, then the second 40 hours will apply, but it’s only in the event of a positive test that the second 40 hours kicks in. Otherwise, only 40 hours of paid leave must be provided. If someone missed work at the beginning of this year, due to a COVID-19-related issue, See UPDATES, page 22

S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L · 9

M A R C H 2022

Small Employer Health Care Tax Credit BY JIM WALKER

Signal Staff Writer

Y

Form

ou, as a small business owner, surely know that the payments you are required to make for your portion of your employees’ health insurance premiums are deductible from your federal taxes. However, while such tax deductions reduce your taxable business income, they only reduce your tax liability by a percentage of your highest federal income tax bracket. On the other hand, a tax credit is a direct dollar-for-dollar reduction of your tax liability. The good news is that, if your employees are insured through Covered California Small Business or other plan that qualifies for the federal small business health insurance tax credit, you may realize great savings. Up to 50% of your premium payments could be credited back to you. David A. Lutz, a senior tax advisor with

8941

Department of the Treasury Internal Revenue Service

Credit for Small Employer Health Insurance Premiums ▶

▶ Attach to your tax return. Go to www.irs.gov/Form8941 for instructions and the latest information.

Name(s) shown on return

A

B C

OMB No. 1545-2198

2021

Attachment Sequence No. 65 Identifying number

Did you pay premiums during your tax year for employee health insurance coverage you provided through a Small Business Health Options Program (SHOP) Marketplace (or do you qualify for an exception to this requirement)? Up to 50% of See instructions. Yes. Enter Marketplace Identifier (if any) ▶ your premium No. Stop. Do not file Form 8941. See instructions for an exception that may apply to a partnership, S corporation, payments could cooperative, estate, trust, or tax-exempt entity. credited back Enter the employer identification number (EIN) used to report employment taxes forbeindividuals included on line 1 below if different from the identifying number listed above ▶ to you.

Does a tax return you (or any predecessor) filed for a tax year beginning after 2013 and before 2020 include a Form 8941 with line A checked “Yes” and line 12 showing a positive amount? See instructions. Stop. Do Group, not file Form 8941. See instructions an exception that may apply to afrom partnership, S corporation, the localYes. LNK Tax knows the ins forcredit discourage you exploring cooperative, estate, trust, or tax-exempt entity. Also see instructions for information about the credit period limitation. and outsNo. ofGo this credit, and provides his its benefits. Our office, or your tax proto line 1. Caution: See the instructions and complete Worksheets 1 through 7 as needed. insights here. fessional, can explain in detail how the 1 Enter the number of individuals you employed during the tax year who are considered “Qualified small employers, including credit may employees for purposes of this credit (total from Worksheet 1, column (a)) . help . . . cut . . your . 1 health insur2 Enter employers, the number of full-time you had for the tax year (from nonprofit may equivalent reduceemployees the (FTEs)ance costs.” Worksheet 2, line 3). If you entered 25 or more, skip lines 3 through 11 and enter -0- on line 12 2 cost3 ofAverage providing health insurance to annual wages you paid for the tax year (from Worksheet 3, line 3). This amount must be a multiple of $1,000. If you entered or more, their employees during the$56,000 course of skip thelines 4 through 11 and enter -0- on line 12 3 Lutz explained that the small business 4 Premiums you paid during the tax year for employees included on line 1 for health insurance year through use of the credit,” Lutz said. coverage under a qualifying arrangement (total from Worksheet 4, column (b)) . . . . . . 4 health insurance tax credit is targeted 5 Premiumsthe you would have is entered on line 4 ifand the total premium for each employee equaled the “However, credit complex average premium for the small group market in which the employee enrolls in health insurance to employers that have no more than 25 there are important limitations, coverage (total from Worksheet 4, column espe(c)) . . . . . . . . . . . . . . . . . 5 full-time equivalent (FTE) employees, 6 when Enter thecalculating smaller of line 4 orthe line 5number . . . . of . . . . . . . . . . . . . . . . 6 cially 7 Multiply line 6 by the applicable percentage: with wages averaging less than $56,000 employees and other provisions. • Tax-exempt small employers, multiply line 6 by 35% (0.35) “But •don’t the complexity All otherlet small employers, multiply line of 6 bythe 50% (0.50) . . . . . . . . . . . . . See 7 TAX CREDIT, page 18 8 If line 2 is 10 or less, enter the amount from line 7. Otherwise, enter the amount from Worksheet 5, line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 If line 3 is $27,000 or less, enter the amount from line 8. Otherwise, enter the amount from Worksheet 6, line 7 . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Enter the total amount of any state premium subsidies paid and any state tax credits available to you for premiums included on line 4. See instructions . . . . . . . . . . . . . . 10 11 Subtract line 10 from line 4. If zero or less, enter -0- . . . . . . . . . . . . . . . 11 12 12 Enter the smaller of line 9 or line 11 . . . . . . . . . . . . . . . . . . . . 13 If line 12 is zero, skip lines 13 and 14 and go to line 15. Otherwise, enter the number of employees included on line 1 for whom you paid premiums during the tax year for health insurance coverage under a qualifying arrangement (total from Worksheet 4, column (a)) . . . 13 14 Enter the number of FTEs you would have entered on line 2 if you only included employees included on line 13 (from Worksheet 7, line 3) . . . . . . . . . . . . . . . . . 14 15 Credit for small employer health insurance premiums from partnerships, S corporations, cooperatives, estates, and trusts (see instructions) . . . . . . . . . . . . . . . 15 Add lines 12 and 15. Cooperatives, estates, and trusts, go to line 17. Tax-exempt small employers, 16 skip lines 17 and 18 and go to line 19. Partnerships and S corporations, stop here and report this amount on Schedule K. All others, stop here and report this amount on Form 3800, Part III, line 4h 16 17 Amount allocated to patrons of the cooperative or beneficiaries of the estate or trust (see instructions) 17 18 Cooperatives, estates, and trusts, subtract line 17 from line 16. Stop here and report this amount on Form 3800, Part III, line 4h . . . . . . . . . . . . . . . . . . . . . . 18 19 Enter the amount you paid in 2021 for taxes considered payroll taxes for purposes of this credit. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 20 Tax-exempt small employers, enter the smaller of line 16 or line 19 here and on Form 990-T, Part III, line 6f 20

Eligibility

MENTAL HEALTH & ADDICTION TREATMENT FOR TEENS AND THEIR FAMILIES

TEEN IOP/PHP AND DAY SCHOOL For Paperwork Reduction Act Notice, see separate instructions.

Cat. No. 37757S

CALL FOR ASSESSMENT COVERED BY INSURANCE

COMMERICAL AIRFLOW, SPACING, PRIVATE BUILDING AND FOLLOWING CDC GUIDELINES.

800.599.8820 www.insighttreatment.com PASADENA

VAN NUYS

SOUTH BAY

SANTA CLARITA

MODESTO

EL MONTE

MERCED

Form 8941 (2021)

10

M A R C H 2022

SCV BUSINESS VOICES

Four Ways to Prevent the Great Resignation at Your Company HOLLY SCHROEDER

L

President & CEO of SCVEDC

abor shortages and “the great resignation” are leaving most companies working hard to hold on to the employees they have. One strategy they should use: looking internally at ways they can reduce their own bureaucracy. Working from home, most employees found time in their day wasn’t productive. Remote work gave many people a fresh perspective on their jobs. The “Great Resignation” suggests they didn’t like what they saw, and they decided to pursue other opportunities. In fact, NIST recently called it the “Great Recognition,” an awakening of people to how they spend their time. Research has long shown that who a person’s manager is factors most into whether a person stays in a job. But a company’s culture, especially how bureaucratic it is, will become just as important if companies don’t adjust to new realities. Here are four ways a company can start: Make meetings efficient Back when everyone was figuring out how to use videoconferencing and team communication software, the number of meetings briefly plummeted. Then it exploded and we were on video calls all day. With location no longer a factor in who attended a meeting, anyone that might have input on a topic could be invited. Companies should now make the effort to ensure meetings should have a clear purpose and agenda. It should be clear why each person is in attendance. They should be as short as possible. Balance expectations through clear priorities Remote work has blurred work/life balance. Now that everyone can be reached 24/7, some companies expect that workers be available 24/7. Some imply a quid pro quo for the flexibility afforded workers during the day to deal with child care or the ability to take the first calls of the morning remotely; they expect employees to respond to emails within minutes late into the evening. Instead, companies and managers need to assess whether that email is really a priority or emergency that can’t wait until the following day. Foster communication of context Workers hired remotely, or incumbent workers who have worked remotely for an extended time may lack an understanding of why the company does things in certain ways. Assuming there is a non-bureaucratic purpose for why those

things are done, it needs to be expressed. In the age of remote work, the ability for an employee to understand those reasons through side conversations have disappeared. Think laterally and act inclusively As companies grow larger, they inevitably create new departments with specialization. Before long, these silos obstruct communication. Each silo may operate independently and not share its

priorities and plans with others. A company pursuing its vision and mission must bring all its components — all its silos — together to effectively execute. Companies inevitably develop bureaucratic tendencies as they grow. To attract today’s best talent, they must be vigilant to create a corporate culture that values employees’ time. 

11

M A R C H 2022

SCV BUSINESS VOICES Are all the pieces of your financial future coordinated into one holistic plan?

Spring Cleaning IVY PIERSON

M

Founder and Investment Advisor Representative Pierson Wealth Management

any of us start each New Year with a list of health and financial goals we are eager to achieve and a desire to “start fresh.” Now that Spring is upon us, if improving your financial health is part of your springcleaning agenda, consider these steps to build a stronger financial future. Whether you are still working or in retirement, having (and sticking to) a budget is the foundation of financial wellness. Understand and record your essential expenses, determine your discretionary costs, and focus on reducing debt. For retirees, ensure your retirement income plan is supported by a strategy that allows you to preserve your wealth and keep pace with inflation. Savings is also an essential component of your budget. You should have a sufficient amount in your emergency savings and consistently contribute to your retirement accounts. With compound interest, the sooner you start saving,

the more your money will grow. If you are fifty years or over, don’t forget to take advantage of catch-up contributions! Finally, stay informed and get educated on basic financial strategies. Know which investments will help reduce your taxes each year and consider talking with a financial advisor for additional insight on how to improve your financial well-being. For help making 2022 the year you make an impact on your financial health, contact us at (661) 297-7566 or visit www. Pierson WealthManagement.com. Pierson Wealth Management is located at 28368 Constellation Rd., Ste. 396, Santa Clarita 91355. Securities and advisory services offered through Cetera Advisors LLC (doing insurance business in CA as CFGA Insurance Agency LLC), member FINRA/SIPC, a broker/dealer and a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. CA Insurance Lic# 0C92500. 

Ivy Pierson, CEP, MBA

Founder & Investment Advisor Representative

Prosperity with Confidence Contact us today to book a 20-minute introductory phone call to discuss your situation, goals and needs. We look forward to helping you pursue your goals and objectives. 28368 Constellation Rd Unit 396, Santa Clarita, CA 91355 (661) 297-7566 (661) 263-9958

PiersonWealthManagement.com Securities and advisory services offered through Cetera Advisors LLC (doing insurance business in CA as CFGA Insurance Agency LLC), member FINRA/SIPC, a broker/dealer and a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. CA Insurance Lic #OC92500

12 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

M A R C H 2022

S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L · 13

M A R C H 2022

2022 Board of Directors CHAIR OF THE BOARD DR. CHRIS RAIGOSA - Kaiser Permanente

BUSINESS COUNCILS

As the third largest city in Los Angeles County, the Santa Clarita Valley Chamber of Com-

merce represents over 65,000-member workforce. We realized we can better serve our business community by having six Business Councils, allowing members to work on issues specific to their area. Our Councils provide a channel for our members to be involved in solving problems, discussing issues, and implementing special projects and events for the benefit of the area being served. Participation offers members the opportunity to prioritize and bring a focus to the business needs of the area, and to take community leadership roles in addressing these needs. It can increase members’ business network, and provide stron-

EXECUTIVE COMMITTEE

ger representation on area issues. Also, since area councils exist as industry-specific, par-

HUNT BRALY - Poole, Shaffery & Koegle, LLP

ticipation provides an opportunity for area-specific networking with others doing business.

ANDREA CARPENTER - Logix MARISOL ESPINOZA - Southern California Gas Company Michael Grisanti - Hedman Partners, LLP

LATINO BUSINESS ALLIANCE Our LBA council works to promote Latinoowned business as well as relevant issues fac-

NEXTSCV NextSCV is our next generation of leaders

BECKI ROBB - Princess Cruises

ing our Latino business community. In addi-

and the group aims to develop the next lead-

SANDY SANCHEZ - FivePoint

tion the LBA helps to educate businesses on

ers of the Santa Clarita Valley through per-

JOHN VANCE - Vance Wealth

how to enhance a company’s business efforts

sonal and professional development, civic

with Latino customers and other Latino-

engagement, and network building oppor-

owned businesses.

tunities that ultimately stimulate local busi-

BOARD OF DIRECTORS KAREN BRYDEN - SCV Locations STEVE COLE - SCV Water Agency JASON CRAWFORD - City of Santa Clarita ANDREA DE LA CERDA - Scorpion MATT DIERCKMAN - Colliers International TROY HOOPER - Kiwi Hospitality Partners PATRICK MOODY - Henry Mayo Newhall Hospital DR. IZU OKPARA- Omni Wound Physicians DAN REVETTO - AT&T

GOVERNMENT AFFAIRS The Government Affairs council meets to discuss policy decisions on a local, county, state and federal level. As a member, you are encouraged to attend a meeting and have your voice heard throughout the SCV and take a stance on pertinent issues relative to the business community or your industry in particular.

NON-PROFIT The SCV has a strong philanthropic commu-

HENRY RODRIGUEZ - State Farm Insurance

nity with more than 100 locally-based non-

LINDSAY SCHLICK - SchlickArt Video & Photography

profit organizations that help our community

CHRIS SCHRAGE - LBW Insurance Financial Services

Santa Clarita is a great community and always

thrive. Our non-profits are a key reason why

ROCHELLE SILSBEE - Southern California Edison

looking towards a better future. The coun-

G. JESSE SMITH - California Institute of the Arts

cil provides business resources for our lo-

DR. DIANNE VAN HOOK - College of the Canyons DENNIS VERNER - Burrtec KARINA WINKLER - Holiday Inn Express

cal non-profit leaders to help them connect,

nesses and support the mission of the SCV Chamber.

SMALL BUSINESS Small Businesses are at the core of our Chamber’s membership and are the backbone of our economy. The Chamber offers a variety of educational and networking programming to help your small business thrive. The council focuses on three main objectives: Advises the SCV Chamber on small business related issues, programming and networking opportunities; Supports the Chambe’s “Retail Walks” with elected officials; and helps promote the nationwide “Small Business Saturday” program which highlights small businesses on the Saturday after Thanksgiving. If you are interested in join-

grow and learn about valuable information

ing any of our councils or

so they can successfully meet their organiza-

finding out more please email

tions mission and goals.

us at hello@scvchamber.com

14 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

M A R C H 2022

CELEBRATING SCV BUSINESSES

We are so proud of the resilience of our business communi-

ty in the Santa Clarita Valley. Despite the pandemic and all the challenges we have faced over the last two years, we continue to grow and celebrate our amazing community. From celebrating new businesses opening or marking special occasions and achievements, we have been proud to be part of your celebrations. Mark your calendars for these upcoming grand opening/ribbon cutting ceremonies. Come out and show your support!

25350 Magic Mountain Pkwy Valencia

Do you have a grand opening or anniversary coming up? Email us at hello@scvchamber.com for details about hosting a ribbon cutting ceremony.

MEMBER 401(K) PLAN

Beginning June 30, 2021, California will require all businesses with over 50 employees to offer their employees a retirement savings program. Then, by June 30, 2022 companies with 5 or more employees will be required to provide a retirement plan. The SCV Chamber’s Member 401(k) Retirement Plan is designed to save local businesses time and money in the administration of a 401(k) program for their employees, while creating individual, customized plans. Partnering with Lincoln Financial Group to oversee the Multiple Employer Aggregation Program (MEAP) including the plan’s important administrative, recordkeeping and fiduciary services. Locally, LBW Insurance and Financial Services, serve as the preferred local agent for the plan helping to get more businesses enrolled in the plan to help them reduce overhead expenses and meet new state requirements. The plan is also open for all Chamber-member agents to participate.

25939 The Old Road, Stevenson Ranch

Businesses seeking more information on the SCV Chamber Member 401(k) Retirement Plan can email us at hello@scvchamber.com.

FOLLOW US ON SOCIAL MEDIA

Never miss important information or updates.

Scan the QR Code below to link to our Facebook, YouTube, LinkedIn and Twitter social media accounts. Stay in the know and find out whats happening at your local Chamber and the business community!

25108 Rye Canyon Loop , Santa Clarita

S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L · 15

M A R C H 2022

UPCOMING EVENTS Back in Person!

We are pleased for the return of in-person events this month. Our Employment Law Update, Empowered Women Network and Non-Profit Council were all held in person this last week. See the events below and mark your calendars! Over the last two years we have provided hundreds of virtual, hybrid and in-person events, but we are excited to welcome back our regular events live and in person again! We are looking forward to seeing you soon!

99th Annual Awards and Installation March 18 | 6pm Please join business and community leaders at the premier business event in the Santa Clarita Valley as we celebrate the achievements of our local businesses and install the 2022 Board of Directors. Get your tickets before we sell out! Special thanks to our Title Sponsor Chiquita Canyon and our Reception Sponsor FivePoint. Congratulations to the 2021 Business Choice Award recipients who will be honored at this years event. Business of the Year Six Flags Magic Mountain Non-Profit of the Year Henry Mayo Newhall Hospital Entrepreneurial Spirit SCV Locations Rising Star Coco Moms In addition to the Business Choice Awards, the SCV Chamber will present the honorees for the Public Service Award and Cheri Fleming Heart of the Community: Public Service Award Ken Striplin Cheri Fleming Heart of the Community Vanessa Wilk

Government Affairs Council April 12 | 10:30am

Join us to hear about what issues our business community are facing. Elected officials and their staff will give updates from federal, state and local offices. This is a great opportunity to hear what advocacy the Chamber is doing for you and also to find out how you can bring the issues you care about for us to assist you with. Our massive grassroots alliance is comprised of organizations locally and throughout the country who help strengthen our advocacy efforts and ensure our advocacy efforst are successful. Email hello@scvchamber.com to find out how to attend or submit an issue you are facing.

Small Business Roundtable: Finances April 8 | 8am We are joined by Bob Jensen, CPA, Partner at KKAJ., for this months Small Business Roundtable. We will be discussing all thing finance related and receiving important information your business should be aware of to help you succeed. Our Small Business Roundtables are member exclusive!

Business After Hours Mixer at 360 Executive Suites

April 20 | 5:30pm The Santa Clarita Valley’s premier networking event, our Business After Hours Mixers, are back! Come join professionals from across the Santa Clarita Valley for networking, food and drinks! Get back into the mix and meet new faces as well as catch up with old connections! To find out more information about these events or any other upcoming programming and to register go to:

www.SCVChamber.com/Events

16 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

M A R C H 2022

Henry Mayo Newhall Hospital President and CEO Roger Seaver chats with Clinical Manager and Registered Nurse Yanique Beersingh in the lobby of Henry Mayo Newhall Hospital.

SEAVER

Continued from page 7

Ascension

Under Seaver’s direction, the hospital’s course corrections included a Chapter 11 reorganization that took two years to realize success. There had also previously been some “excess risk taking and there were some contracts that needed to be unwound,” he said. “The problems were solved and never to be repeated,” Seaver said. “We had a new start to begin realizing what we have become.” The hospital’s growth and advances under Seaver’s direction are impressive. The Sheila R. Veloz Breast Center was opened in 2002, the Wayne and Connie Spears Intensive Care Unit in 2010, the Kim and Steven Ullman Neonatal Intensive Care Unit in 2012 and the Roberta G. Veloz Cardiovascular Center in 2012. The first phase of the hospital’s new Patient Tower was opened in 2019, pro-

viding 119 additional patient beds, as well ratory services and a helipad with direct as two new surgery suites in the Center access to the ER. for Women and Newborns. This also Seaver is proud of all of all this, of included a new cafeteria, expanded labo- course, but knows it results from generous donations and support from the community and staff. For example, he In 2020, Henry Mayo Newhall Hospital won a National Award said, “Shelia Veloz envisioned the first of Merit in the health care facilities category from the Designelite center for breast cancer detection, Build Institute of America for the design and construction of and it became a reality through a generous gift.” the hospital’s new patient tower. “Roberta Veloz sold her family business, and just walked in and donated a large sum,” he said. “The resulting cardiac cath lab attracts physicians for training, and our statistics on emergency treatment of cardiac events are great.” Other progress is planned, of course. “We continue expanding the types of procedures we offer,” Seaver said, “and we hope to double our size and integrate advanced technology, including other surgical and orthopedic specialties, during the next two-plus years.” He pointed to the hospital’s brand-new collaboration with Keck Medicine of USC as an example. This includes a new oncology clinic and services, among other specialties.

S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L · 17

M A R C H 2022 In all of this progress, as well as the hospital’s admirable response to the pandemic, Seaver passes praise to others. “I want to recognize the exceptional work of all our healthcare professionals, including physicians, those in nursing and technology, and all types of personnel,” he said.

Corporation. “My work with the SCVEDC is modest,” he said, “but I’m really pleased to be at the table with these leaders, and

to be in on what is happening.” For more information visit www. henrymayo.com. 

Personal

It was while at the Lutheran Hospital society that Seaver met his wife, Rizalina. They have been married for 46 years. “She successfully raised three children and now we have two grandchildren,” he said. “And throughout our marriage she’s supported my career, has been involved in hospital fundraising, has met with hospital and healthcare leaders both across California and nationally, and has supported public policy for community hospitals.”

Community

Outside of his work with the hospital, Seaver is well known in the community, particularly through his involvement with the SCV Economic Development SkylineSmileswithHarleenGrewal

Yo u A r e D e s i g n e d t o S m i l e Skyline Smiles is one of the dental of fices in Santa Clarita equipped with state of the ar t technology which provides an innovative and modern approach in dentistr y. We assure our patients an anxiety-free and have a comfor table experience during their visits.

661.244.4036

hello@skylinesmile.com

28532 La Madrid Drive, Ste B Santa Clarita, CA 91350

skylinesmilesscv

18 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

M A R C H 2022

Programs for Mental, Substance Abuse Issues

F

or more than 20 years, Insight Treatment has provided Intensive Outpatient Treatment (IOP) for teens, (13-18 years of age), struggling with mental health and/or substance abuse issues. Whether the teen is suffering from a mental health disorder, such as depression, anxiety, trauma, or ADHD or is having behavior problems such as, selfharm, addictive behaviors, aggression, and isolation, we are here to support not only the teen, but the entire family. In addition to IOP, Insight also offers an Academic Day Program, where teens can complete their schoolwork under the supervision and guidance of our academic coordinators. Insight’s fundamental belief is that teens need to feel they belong to a teen

TAX CREDIT

Continued from page 9

for 2021 (adjusted for inflation annually) for each employee per year. “The credit is claimed on IRS Form 8941, Credit for Small Employer Health Insurance Premiums, which must be attached to your return,” he added. The maximum credit is 50% of qualified premium costs paid by for-profit employers (35% for tax-exempt employers). “However, an employer may claim the credit only if the employer offers one or more qualified health plans through a state insurance exchange,” Lutz said. “Let’s look at an example of how the credit works,” he said. “A small manufacturer employs nine individuals with average annual wages of $23,000 for each employee. The manufacturer pays $72,000 in health care premiums for its employees. Assuming that the manufacturer meets all the other require-

community. Teens will only really open up and express their emotional pain and challenges when they feel safe in a clinical environment. We have therefore designed a fun and creative clubhouse environment where teens can relax, play games and build positive relationships with peers. This

ments, its credit is $36,000 (50 percent x $72,000).”

Employee Threshold

“To determine eligibility for the credit, employers must calculate their number of FTEs,” Lutz explained. The number of an employer’s FTEs is determined by dividing the total hours for which the employer pays wages to employees during the year (but not more than 2,080 hours for any employee) by 2,080. The result, if not a whole number, is rounded to the next lowest whole number. “Lawmakers selected 2,080 hours because 2,080 hours comprise the number of hours in 52 weeks, assuming a 40-hour work week. Any hours beyond 2,080, such as overtime hours, are not taken into account when calculating FTEs.”

Calculating Annual Wages

“Employers also need to calculate average annual wages,” Lutz said. The amount of average annual wages is determined by first dividing

environment has proved to be more conducive to fostering relationships versus a more traditional clinical setting in an office or medical building. Our large warehouse spaces also make it possible for us to continue in-person treatment during these unique times, with sufficient airflow and maximized space to maintain social distancing as we all navigate the COVID-19 pandemic. Call (888) 295-9995 to schedule a free initial assessment with our team. We are In Network with most private insurance plans. Insight is located at 26330 Diamond Place, Suite 120/130, Santa Clarita 91350. For more information, visit insighttreat ment.com/contact/santa-claritalocation. 

the total wages paid by the employer to employees during the employer’s tax year by the number of the employer’s FTEs for the year, he said. The result is then rounded down to the nearest $1,000 (if not otherwise a multiple of $1,000).

Additional Requirements

Lutz said that Congress imposed some important limitations on the credit. Employers must exclude certain individuals from the calculation of FTEs and average annual wages. These individuals include a sole proprietor, a partner in a partnership, a shareholder owning more than 2% of an S corporation, and any owner of more than five percent of other businesses. “Certain family members of these individuals are also excluded from the calculation of FTEs and average annual wages,” he said. “These include a child, a parent, a sibling, and others, but this list is not exhaustive. Please contact our office or your tax professional for more

details about who is excluded from these calculations.” Additionally, Lutz explained, the credit applies only to premiums paid by the employer under a qualifying plan. “An employer’s contribution is also linked to the average cost of health insurance in its state or part of a state,” he added. “Our office can review your plan and determine if it meets the criteria for the credit.” He explained that the credit also affects an employer’s deduction for the cost of health insurance premiums paid on behalf of employees. “The amount of premiums that an employer may deduct is reduced by the amount of the small employer health care tax credit.” LNK Tax Group is located at 25350 Magic Mountain Parkway, Suite 300, Santa Clarita, 91355. For more information contact David A. Lutz or Ara Kiledjian at (661) 491-7222 or visit www.LNKtax. com. 

S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L · 19

M A R C H 2022

Importance of Early Screening for Colorectal Cancer

I

n 2022, the American Cancer Society estimates that there will be 150,000 new cases of colorectal cancer in the United States. Getting screened early for colorectal cancer is the single most effective way to prevent this deadly disease and it is easier than you may think. While there are more than one million colorectal cancer survivors in the United States, this disease continues to be the second-leading cause of cancer deaths among men and women combined nationwide, with rates in our younger population gradually increasing. “Everyone should be screened for colorectal cancer,” said Joon Kim, MD, chief of gastroenterology at the Kaiser Permanente Panorama City Medical Center. “A colonoscopy screening can significantly reduce the incidence of this cancer. And when discovered early, colorectal cancer is very treatable.” In the United States colo­ rectal cancer disproportionately affects people of color. It is the second most common cancer identified in the Latin American community and African Americans are more than 20% likely to get colorectal cancer and 40% more likely to die from it than most other racial/ethnic groups. Realizing that people of color are at higher risk for colorectal cancer, Kaiser Permanente is working creatively to reduce the incidence of this very preventable cancer. “To reduce the disparity among certain communities, we created a Colorectal Cancer (CRC) Initiative Group,” adds Evelyn Marquez-Mello, MD, a gastroenterology specialist Kaiser Permanente Panorama City Medical Cen-

ter. “The group meets quarterly and consists of CRC champions from both our primary care and gastroenterology departments. We discuss and review the rates of screening, concerns and ways we can help patients with high risk factors get screened.” The group also promotes health literacy and reviews ways that clinics can simplify instructions for Fecal Immunochemical Test (FIT), one of the methods for colorectal cancer screening, by providing picture diagrams as well as posters describing colorectal cancer and reasons it is important to get screened. Recent American Cancer Society recommendations suggest adults without a family history of the disease to begin colorectal cancer screening at age 45. While you should discuss the screening schedule with your personal physician, an individual’s risk factors such as ethnicity, lifestyle and family history will determine when you should start getting screened. In addition to screenings, what you eat (or don’t eat) and how active you are can influence your risk of developing cancer. To learn more about healthy eating and active living visit www.kp.org. Kaiser Permanente is com­ mitted to helping shape the future of health care. We are recognized as one of America’s leading health care providers and not-forprofit health plans. Founded

in 1945, Kaiser Permanente has a mission to provide highquality, affordable health care services and to improve the health of our members and the communities we serve. We currently serve 12.4 million

members in 8 states and the District of Columbia. Care for members and patients is focused on their total health and guided by their personal Permanente Medical Group physicians, specialists, and team of caregivers. Our expert and caring medical teams are empowered and supported by industry-leading technology advances and tools for health promotion, disease prevention, state-of-the-art care delivery, and world-class chronic disease management. Kaiser Permanente is dedicated to care innovations, clinical research, health education, and the support of community health. For more information, visit about.kaiserpermanente. org. 

20 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

M A R C H 2022

What are Leadership Routines? BY PAUL RAGGIO

SCVBJ Contributing Writer

T

his day was the start of the U.S. ground offensive in the Gulf War. It was January 16th, 1991, and I was the operations officer for the 16th Military Police Brigade Airborne. I was huddled with my staff in a large field tent on the Saudi Arabia side of the Iraqi border in the desert. We broke from an operations update with our brigade and four battalion commanders hours earlier. I provided them with the most current information on XVIII Airborne Corps’ immediate offensive plan and our mission in support of the operation. The charged atmosphere set the stage for one of the most noteworthy military successes in generations. Iraq’s use of chemical weapons was well known and posed a real threat to U.S. forces. Before H-hour, air sirens blared, indicating the possibility of incoming chemical weapons, which sent my staff and me to don our chemical suits and masks quickly. My commander was not in the camp, so I directed the staff to remain suited until the “all clear” signal sounded. I was concerned over my commander’s whereabouts and contacted him by radio, asking for his location. He squawked back. He was with one of his battalion commanders several kilometers away doing his leader routine, which meant visiting his soldiers and inspiring them in the face of war! Establishing leader routines, not management checks, are essential to the health of any organization. These routines form and sustain a flourishing organizational climate. I often write about the differences between leadership and management. Leaders inspire and create passionate and focused team members. Managers account for and make competent and productive employees. Leadership centers on emotional connections and the self-motivation of the

KPIs and OKRs; I problem-solve with my employees and resolve pressing issues that are impacting our top and bottom lines; or I network with potential ideal clients by sitting on various boards and participate in chamber of commerce events. These are all crucial activities; however, they represent manager routines. Leader routines are when you make an emotional connection by engaging with team members. Through conversation, you ensure they are aligned with the organization’s purpose, vision and mission and provide clarity and encouragement Leader routines require carving a few hours out of when they aren’t. You do this by showthe workday, then visiting team members, meeting ing genuine interest in their welfare and them one-on-one and asking how they are doing. contribution to the team and inspiring them to achieve phenomenal results. team members to drive wins. ManageLeader routines require carving a few ment centers on skilled employees effihours out of the workday, then visiting ciently and effectively performing workteam members, meeting them one-onflow processes. one and asking how they are doing. OthOf course, you need both leaders and managers to create an exceptional com- er practices include scheduling monthly team brown bag lunches, discussing the pany. However, we often confuse manorganization’s values, visiting remote ager routines as substitutes for leader employees or field workers, inquiring routines. about their families, attending team For example, manager routines often promotion or retirement ceremonies check performance against indicators, and celebrating their contribution to the aptly called key performance indicagroup. These are all leader routines that tors (KPIs). Likely, the KPIs are a subset create emotional connections and inof “objectives and key results” (OKRs), focusing on objective clarity, measurable spire the team to peak performance. Don’t undervalue the impact leader goals, and achievable results. routines have on team members. Your The employee is a contributor to mulhour visit, engaging, encouraging, and tiple systems that produce the results. valuing a team member’s contribution to If the unit is underperforming and not the company’s mission will be rememachieving the goals, the manager can bered far longer than the team memperform a host of diagnostics to get the ber achieving a work-process standard. “system” back on track and the desired Making the emotional connection and key result. inspiring your C-Suite executives to the Solutions to right the course may be newly hired administrative assistant to a tweak of a procedure, clarification of the craftsman in the field is how you a process, an overhaul of a system, or align the team and achieve phenomenal remedial training of an employee. results, knocking down goal after goal, However, KPIs and OKRs neither inon your way to exponential growth! This spire nor create an emotional connecis how you lead, think, plan, and act. tion that motivates a team member to Now, let’s get after it! peak performance. A leader does. Retired Col. Paul A. Raggio is co-owner, When coaching executives, one of the with his sister Lisa, of One True North first questions I ask is, what are your leader routines? Here are their responses: INC Leadership and Business Coaching Solutions. For more information, visit I hold daily huddles or weekly meetings with my C-Suite staff where we go over onetruenorthcoach.com. 

S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L · 21

M A R C H 2022

Going the Extra Mile

BY PAUL BUTLER

SCVBJ Contributing Writer

O

ne of the best life lessons our daughter ever learned didn’t come from me or my wife. This quantum leap in thinking didn’t come from the school system or from social media but rather something she learned on a softball field in Newbury Park. We love living in America but one of the many cultural aspects we found quite strange was when we went to watch youth sports. We were shocked when a kid had just been struck out in baseball to then hear all the parents in the bleachers call out words of encouragement such as, “Good job” or “Nice effort” or “You nearly hit it”. America has a reputation for being a pretty positive and upbeat culture but when the kid strikes out, he has to know he didn’t do a good job regardless of his effort because he didn’t actually make the play. In the workplace, people appreciate being recognized for what they’re doing well and being told straight when they’re not. One of the attributes of great leaders is they talk straight. So, what did our daughter Brodie learn as a life lesson which serves her well almost ten years later? Well, she joined a travel softball team based out of Newbury Park. It was a very tough team to get on to and it was a significant commitment for all of the family, to make the practices as well as all of the games in

Straight Talk

and out of state. The baseball coach was an ex-marine. He had a phrase he’d recite: “Ladies, if you’re less than 8 minutes early, you’re late!” His logic being, it takes a few minutes to get yourself ready before you’re fully present to practice. Relating this to the workplace, I’m always amazed when I see people turn up at work either late or at their exact start time to then spend 15 minutes getting themselves fully ready to start work. On the first day of practice, they didn’t even play ball — instead he taught them the history of the game. He wanted the young ladies to respect the heritage of the sport they had the honor of playing today. I’ll never forget when he asked the gathered group if they knew who invented softball. Some of the girls looked at the floor. Some of the girls looked to the hills of Calabasas perhaps wondering where the Kardashian’s lived. But one girl offered a response that pierced the awkward silence: “Was it Jesus?” After recognizing her contribution and saying in the big scheme of things, “He likely did,” the coach went on to explain how the game started;

how it changed and how the game can help develop their character and their competences if they chose to give their all. Relating this to the workplace, I’m always aghast when so many organizations have such a poor onboarding and orientation program. They have such a wonderful opportunity to explain how the organization was formed. In doing so, they may be able to engage these new hearts and new minds as they stand on the shoulders of those who came before. Perhaps the most profound lesson I recall from the exmarine coach was when he told the young ladies to buy themselves a plain white tshirt and to wear that same t-shirt for every practice and

never to wash it. He reiterated his instruction they must pay for the t-shirt themselves — as parents, we were not to buy it. He wanted them to realize the sweat of the last practice will carry them upward and onward. For the first few games his team would walk out in their stinky, sweaty tees while their opposing team would prance out on to the pitch all looking pristine. They were finally awarded their team jerseys when he decided they’d earned them. I’ll always remember the day when Brodie received the shirt, she knew she’d earned. In the workplace, the only time the word “pay” comes before “work” is in the dictionary. We earn a living. We’re not owed a living. I think so many of the disgruntled, dissatisfied and disengaged employees we see in today’s workplace would be much better workers if they’d have learned some better life lessons as children. Paul Butler is a Santa Clarita resident and a client partner with Newleaf Training and Development of Valencia. For questions or comments, email Butler at paul.butler@ newleaftd.com. 

NEED BUSINESS DEBT RELIEF? “I Settle Debts For 30-70% Of The Original Debt Amount” • No Results, No Fee! • Stay Out Of Court, Avoid Bankruptcy • Improve Cash Flow • Protect Your Privacy • Bank loans, Credit Cards, Invoices, Disputed Bills, Lawsuits & Judgments

Free Consultation Valencia (661) 964-4493 www.debt-mediator.com

Ray J. Bulaon, Esq.

MORE THAN 6,000 CLIENTS HELPED SINCE 1998

22 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

M A R C H 2022

Mind Body Infusion Aims to Instill Confidence

A

t Mind Body Infusion, we strive to bring in the best for our patients and work tirelessly to

UPDATES

Continued from page 8

the employer has an obligation to go back and credit them for that time. The maximum that an employee can receive in a day, however, remains $511 per day. He reminded the employers to understand the nuances of isolating and quarantine, with or without a positive COVID-19 test. Elaborating on supplemental paid sick leave, he said anyone with a positive test is

ensure they leave our office with more confidence than they had when they walked in.

entitled to the hours under the quarantine requirements. It depends on whether they’re vaccinated or not to assess how long they must quarantine. If there is no COVID-19 test, the employer is only required to pay 40 hours of paid sick leave. Answering questions from the audience – primarily focused on meal and rest breaks, mealtime waivers and IRS reimbursement standards – he said employers must stay vigilant about changing rules and new legislation. 

One of our newest, state of the art machines is the Emerald Laser. The Emerald Laser is the safest and most effective way to lose fat! There is no downtime, pain, bruising, freezing, or harsh side effects during or after treatments! On average 8-12 sessions allows the Emerald to target your focus area effectively and it is so simple and quick, the laser works as a natural alternative for fat loss, by breaking down the fat cells and naturally flushing them out through your lymphatic system. We pair our lymphatic massage with our Emerald Laser, to help increase the lymphatic flow of your body and work hand in hand with the Emerald to decrease the fat cells accumulated over time.

We have seen some truly incredible weight loss in a number of patients, many who lost not only direct weight but also lost several inches off their target areas! To see optimal results, our team at Mind Body Infusion has come up with several package options, all of which include our lymphatic massage! To find out more or book your consultation for the Emerald Laser, call our office at (661) 544-4036 or stop by the office for a tour! Harleen Grewal, DDS, Mind Body Infusion, Advanced Center for Neurology and Headache, Advanced Pain Management, Santa Clarita Surgery Center. (661) 724-6982. ​Skyline Smiles, 28532 La Madrid Dr, Suite B, Santa Clarita 91350. skylinesmile.com 

S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L · 23

M A R C H 2022

VIA Connecting to Success to Add Industry Expert Panel for 2022 The Valley Industry Association is gearing up to present their signature Connecting to Success Program in early 2022. The program, a workforce readiness program for all high school Sophomores in the Hart District and additional charter schools, includes training in written and verbal communication, business ethics, job search and interview skills, financial literacy and more. Founded in 2003, the VIA Connecting to Success Program is currently in its 19th year serving the students of the William S. Hart Union High School District. This year, the program has added an Industry Expert Panel Discussion, which includes six significant power players from the Santa Clarita Valley business community. The panel includes Captain Justin Diez, L.A. County Sheriff’s Department, Mayor Pro Tem Jason Gibbs, City of Santa Clarita, Dr. Anh Vo, COC Nursing Faculty and CNA Program Director, College of the Canyons, Hillary Broadwater, Creative Director/Owner, QM Design Group, Steve Nunez, Vice President/Relationship Manager, Mission Valley Bank and Teresa Todd, MBA, MA, Point of View Communications. The panel will offer students the opportunity to learn directly from the experts about the pathway to each industry and the education required, along with ideas, suggestions and recommendations from the experts to achieving success in their industries and how to avoid pitfalls. The panel will also open the floor to questions from students to gain insight into the careers they may choose to pursue. For more information about VIA Connecting to Success, please contact the VIA Office (661) 294-8088 or by email: kathy@via.org

PREMIER SPONSOR

Your Construction & Demolition Partner Athens Services has more than 60 years of experience handling and processing construction and demolition (C&D) material throughout Los Angeles, San Bernardino, and Riverside counties. No job is too big or too small. We are your C&D partner. Athens services has a rich tradition of service and is ready to offer: • Dedicated C&D VIP Hotline, ready to take your order • Greater than 88% diversion for LEED jobs • Variety of roll-off debris boxes available for any job • 24/7 online Self-Services, including extra dump requests • Industry-leading safety record Athens Services provides a sustainable and closed-loop solution to C&D material management by diverting it from landfills through recycling. We support LEED jobs and can help you reach your diversion goals. Athens uses a certified facility that is proud to offer the highest diversion certificate percentage available as certified by the City of Los Angeles and the County of LA. Athens Services is ready to partner with you to meet your diversion goals and recycling needs! For service, please contact our C&D VIP Hotline at 888-2742074. We are open from 7:00 AM to 5:00 PM, Monday through Friday. You can also conveniently request service for an onsite consultation by filling out a Rent-a-Container Form online at AthensServices.com/Rent-a-Container. Our C&D experts are ready to assess your needs over the phone or at the job site.

888-274-2074 • AthensServices.com VIA SPONSORS

VA L L E Y I N D U S T R Y A S S O C I AT I O N | 2 8 3 6 8 C O N S T E L L AT I O N R O A D | S U I T E 3 6 0 | VA L E N C I A , C A 9 1 3 5 5 | 6 6 1 - 2 9 4 - 8 0 8 8 | V I A .O R G

24 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

M A R C H 2022

Take Look Back with 2021 Annual Report BY JEFF PRANG

Los Angeles County Assessor

A

lthough we are already a couple of months into this year, I wanted to put a spotlight on last year. I released the 2021 Annual Report recently, which reflects growth and increases in the assessed value of taxable real property despite the enduring pandemic. The report also includes an updated listing of the County’s 88 cities, including the highest valued cities and those with the highest percentage change from the prior year. The 2021 Annual Report helps the public easily access information about the Office of the Assessor, including how property values in each area of the County changed during this last, most challenging year. The diligent work of our staff during these difficult times saw us find new ways to produce and complete our vital functions that ultimately serves as the foundation of the property tax system which generates $17 billion in revenue for vital public services, especially now when the County needs it the most. The 2021 Annual Report is broken down into categories and chapters, providing a comprehensive view of the strength of the Los Angeles County real estate market. It reveals that last year nearly every city in Los Angeles County recorded an increase in assessed valuation compared to 2020. The report also highlights the total net value of $1.76 trillion for the entire County, indicating the 11th consecutive year

HIGHEST VALUE CITIES City in Order of Ranking

Assessed Valuation (Billions)

of growth, an increase of $62.9 billion (or 3.7%) over 2020. That value places $17 billion in the hands of the County to be used for those public services just mentioned. The report also includes the latest information on the new Constitutional amendment Proposition 19 as well as the Office’s many legislative advancements, the many tax resources and tax savings’ programs available, a detailed explanation of California’s property tax system, and the new joint-venture with community colleges that provides a pathway to jobs, among other chapters. Moreover, as the report does every year, it lists the top 20 highest valued cities in the County for 2021. The top five highest valued cities for 2021 remain the same, with the City of Los Angeles at No. 1 with an assessed valuation of $723.6 billion (4% increase); Long Beach ($65.7 billion, 3.5% increase); Santa Monica ($43.834 billion, 3.7% increase); Beverly Hills ($40.6 billion, 4.1% increase); and Santa Clarita ($38.3 billion, 1.1% increase). DATA COURTESY LA COUNTY ASSESSORS OFFICE

Amount of Change

Percentage Change

Total Assessments

4.0%

860,106

Los Angeles

$ 723.693

$ 27.746

Long Beach

65.718

2.243

3.5

119,234

Santa Monica

43.834

1.562

3.7

26,856

Beverly Hills

40.614

1.600

4.1

12,846

Santa Clarita

38.386

1.168

3.1

73,094

Glendale

36.609

1.051

3.0

47,457

The top three fastest percentage growth cities in the County in 2021 were Cerritos at 9.1% growth, Hidden Hills at 8.9% growth, and Vernon at 7.1%. It’s important to remember that the average growth does not mean property owners will be subject to a corresponding increase on their annual property tax bills. Nearly 9 out of 10 property owners will see only the modest 2 percent adjustment prescribed by Proposition 13. The dedicated professionals in the Assessor’s Office are committed to providing the highest-quality of public service possible, regardless of the challenges that present themselves. It’s not an understatement when I say that this past year has presented the Assessor’s Office with an untold number of those challenges but they have been met and overcome as this Annual Report indicates. As I mentioned I wanted your readers the opportunity to access the report to review at their leisure. I believe they will find it most illuminating. Don’t forget to visit our new, improved website at assessor.lacounty.gov. The 2021 Annual Report is available online at www.assessor.lacounty.gov/ reports. Los Angeles County Assessor Jeff Prang has been in office since 2014. Upon taking office, Prang implemented sweeping reforms to ensure that the strictest ethical guidelines rooted in fairness, accuracy and integrity would be adhered to in his office, which is the largest office of its kind in the nation with 1,300 employees and provides the foundation for a property tax system that generates $17 billion annually. 

S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L · 25

M A R C H 2022

Santa Clarita Stock Average Below you will find a list of local Santa Clarita-based or prominent Santa Clarita companies used for our averages. Each month we will take the average of all these stocks and show that number. Tracking that number from month to month will give you a window of how our local company’s stocks are performing. Last month the index was 6,442.17 and the average price per share was $336.29. This month the index is 6,062.36 down 379.81 or 6.4% for an average share price of $202.08.

Company

industry

ticker

FEB. 7

MAR. 7

Amazon

Retail

NASDAQ: AMZN

3186.00

2,912.14

Bank of Southern California

Banking

OTC: BCAL

15.45

15.14

Bioventus

Biomedical

Nasdaq: BVS

12.35

13.51

Boston Scientific

Biomedical

NYSE: BSX

42.98

43.76

California Resources Corp.

Energy

NYSE: CRC

43.46

43.10

Carnival Corp.

Entertainment/leisure

NYSE: CCL

21.15

17.23

CBRE

Commercial real estate

NYSE: CBRE

101.67

89.71

Costco

Retail

NASDAQ: COST

515.09

525.50

Disney

Entertainment media

NYSE: DIS

141.90

140.72

Five Point Holdings

Home developer

NYSE: FPH

5.74

5.97

IQVIA holdings

Laboratory services

NYSE: IQV

246.06

227.00

ITT inc.

Aerospace/manufacturing

NYSE: ITT

91.83

79.89

KB Homes

Home developer

NYSE: KBH

39.32

38.90

Otsuka Pharmaceutical

Pharmaceutical

OTCMKTS: OTSKY

17.75

17.01

Quest Diagnostics

Laboratory services

NYSE: DGX

131.72

137.65

Six Flags

Entertainment/leisure

NYSE: SIX

41.26

41.16

Sodexo

Home/food services

OTCMKTS: SDXAY

18.57

14.47

Sonova Holdings

Biomedical equipment

OTCMKTS: SONVY

70.02

70.47

Tri Pointe Homes

Home developer

NYSE: TPH

22.65

22.69

Walmart

Retail

NYSE: WMT

138.22

142.82

Woodward

Aerospace/Manufacturing

NASDAQ: WWD

111.99

118.60

Auto Nation

Auto Dealers

AN

103.00

113.13

Boeing

Aerospace

BA

211.19

180.84

Comcast

Communications

CMCSA

49.09

47.21

Home Depot

Retail

HD

357.00

324.26

Kohl's

Retail

KSS

60.00

58.77

Lennar

Home Builder

LEN

91.93

89.14

Lowes

Retail

LOW

226.92

224.07

McDonalds

Restaurants

MCD

260.44

235.81

Textron

Industrial

TXT

67.42

71.23

26 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

M A R C H 2022

The List: O ldest B usinesses I n T he SCV Name

business type

year est.

#of employees

top executive

address

phone number

Saugus Café

Restaurant

1888

22

Yecenia Mercado

25861 Railroad Avenue Newhall 91321

(661) 259-7886

Halfway House Café

Restaurant

1906

9

Sally Moore

15564 Sierra Highway, Santa Clarita 91390

(661) 251-0102

The Signal

Newspaper

1919

34

Richard Budman

25060 Avenue Stanford Ste 141, Valencia 91355

(661) 259-1234

Santa Clarita Concessions

Vending Machine Supplier

1955

12

Lisa Burke

21554 Golden Triangle Rd., Saugus 91350

(661) 259-7310

B & B Manufacturing

Contract Manufacturing Services

1961

270

Fred Duncan, Jeff Lage

27940 Beale Ct., Valencia 91355

(661) 257-2161

Newhall Escrow Inc.

Escrow

1963

11

Steve Corn

24010 Lyons Ave., Newhall 91321

(661) 259-3450

Santa Clarita Swap Meet

Swap Meet

1963

34

Doug Bonelli

22500 Soledad Canyon Rd., Santa Clarita 91350

(661) 259-3886

Valencia Country Club

Golf Club

1965

100

Mike Nix

27330 Tourney Rd., Valencia 91355

(661) 254-4401

Chi-Chi's Pizza

Restaurant

1967

76

Paul Miccolis

23043 West Soledad Canyon Rd., Saugus 91350

(661) 259-4040

Backwoods Inn

Restaurant

1968

29

Carol Ohler

17846 Sierra Hwy, Canyon Country 91351

(661) 252-5522

Gallions Corner Market

Market

1969

10

Sam Elhilu

31515 Parker Rd., Castaic

(661) 257-3523

Pleasantview Industries

Work Activity Program

1969

20

Gerry Howard

27921 Urvabdale Ave., Saugus

(661) 296-6700

Green Thumb Garden Center

Nursery

1970

25

Bud, Steve & Nancy Bergquist

23734 Newhall Ave., Newhall

(661) 259-1071

Stay Green

Landscape Services

1970

280

Rich Angelo

26415 Summit Circle, Santa Clarita

(661) 291-2800

Magic Mountain

Amusement Park

1971

3,000+

Tim Burkhardt

26101 Magic Mountain Parkway

(661) 255-4100

Way Station Coffee Shop

Restaurant

1971

12

Eric Leeser

24377 Main Street, Newhall

(661) 255-0222

AV Party Rentals

Event/Party Supplies

1973

37

Rusty Parr

23800 Newhall Avenue, Newhall

(661) 259-2151

Maria's Deli

Italian Delicatessen

1973

5

Maria & Bruno

22620 Lyons Ave., Newhall

(661) 259-6261

Douglas Furniture

Furniture

1974

12

Doug Green

23661 Newhall Avenue, Newhall

(661) 255-8421

Condie, Thomas & Harbo, CPAs

Certified Public Accountains

1975

10

Gary Condie

28490 Westinghouse Pl. #140, Valencia

(661) 257-2900

Henry Mayo Newhall Hospital

Hospital/Trauma Center

1975

1,580+

Roger E. Seaver

23845 McBean Pkwy., Valencia

(661) 200-2000

The Werner Law Firm

Law Firm

1975

4

L. Rob Werner

27257 1/2 Camp Plenty Rd., Canyon Country

(661) 252-9022

Gymnastics Unlimited

Gymnasium

1977

22

Courtney Starks

28373 Constallation Rd, Valencia

(661) 257-2GYM

Owen, Patterson & Owen

Law Firm

1977

11

Richard A. Patterson, Esq. Greg Owen, Esq./ Susan Owen, Esq.

23822 W. Valencia Blvd. #20, Valencia

(661) 799-3899

Stern, Kory, Sreden & Morgan

Certified Public Accountants

1977

26

Ronald D. Morgan, Gregory C. Kory, Robert J. Stern

24961 The Old Road, Stevenson Ranch

(661) 286-1040

The Travel Bug

Travel Agency

1977

9

Geri Jacobs

24300 Town Center Dr. #101, Valencia

(661) 255-5030

Tiny's Submarine Sandwiches

Restaurant

1977

5

Teri King

27251 Camp Plenty Rd., Canyon Country

(661) 251-5885

AV Equipment Rental, Inc.

Equipment Rentals

1979

18

Don Cruikshank

24933 Railroad Ave., Newhall

(661) 259-2155

Brent's Carpet One

Flooring

1979

8

Brent Griffiths

24220 Lyons Avenue, Newhall

(661) 255-3337

Country Antique Fair Mall

Antique Mall

1979

10

Mac McClure

21546 Golden Triangle Rd., Saugus

(661) 254-1474

Final Score

Restaurant

1979

7

Joe Comella

23754 Lyons Ave., Newhall

(661) 254-6557

Santa Clarita Lanes

Bowling Alley

1979

32

Tom Cristi

21615 Soledad Canyon Rd. Santa Clarita

(661) 254-0540

Tartan Realty

Real Estate Agency

1979

N /A

Kathy MacIntosh

16654 Soledad Cyn Rd., Canyon Country

(661) 259-7653

Vincenzo's Pizza

Italian/Pizza Restaurant

1979

12

Steven Katz

24504 1/2 w. Lyons Ave., Newhall

(661) 259-6733

Charmaine's Bouquet Canyon Florist

Florist

1980

8

Charmaine Wojciechowski

26859 Bopuquet Canyon Rd., Saugus

(661) 297-3100

Le Chene Restaurant

French Cuisine

1980

30

Juan Alonso

12625 Sierra Hwy., Santa Clarita

(661) 251-4315

Progressive Physical Therapy, Inc.

Physical Therapy

1980

5

Shelly Cloughley

25949 The Old Rd., Valencia

(661) 254-0077

Samuel Dixon Family Health Centers

Medical

1980

39

Philip Solomon

25115 Avenue Stanford, Valencia

(661) 257-2339

Anitech Systems, Inc.

Hardware Design

1981

4

Steve McIntyre

25021 Anza Dr., Valencia

(661) 257-2184

A Chorus Line

Dancewear/Costume

1983

7

Jana Einaudi

23330 Cinema Drive #101, Valencia

(661) 253-0300

S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L · 27

M A R C H 2022

Economic Development Corporation Growth and New Development — The Outlook for 2022 26455 Rockwell Canyon Road | UCEN 263 | Santa Clarita, CA 91355 | (661) 288-4400 | www.scvedc.org

BY HOLLY SCHROEDER

President and CEO of the Santa Clarita Valley Economic Development Corp.

E

ach year, SCVEDC produces an Economic Outlook report. The general outlook for 2022, as described by Dr. Mark Schniepp of California Economic Forecast, follows. According to Dr. Schniepp, the recession is now long over, and the economy is in full recovery and a sustainable rebound is underway, though a return to the normal we knew in 2019 will be delayed until later in 2022. Unlike much of the neighboring metropolitan areas of greater Los Angeles, the Santa Clarita Valley still has plenty of room to grow. We’ve been expanding, building, and growing in population, housing, real estate, and more for years. The growth of population is expected to modestly accelerate, entirely due to higher net-in migrating populations that are responding to (1) job formation, and (2) new housing development. New construction of both commercial and residential properties has carried on throughout the last 18 months, which will continue to spur the economic activity in our region. Dr. Schniepp predicts that much of the new industrial

product being built in the SCV will be used for distribution, warehousing, and perhaps as fulfillment centers. In addition to logistics however, Santa Clarita is also seeing industrial development being scooped up by film and soundstage studio companies as the film industry continues to grow in the region. Across the SCV there are 7.1 million square feet of space in projects that are actively under construction, including Needham Ranch and IAC Commerce Center. The latter of which recently preleased their last building to LA North Studios to be used as certified sound stages for film production after construction completes. There are also 3.9 million square feet of space in projects that have been approved but have not broken ground. There are 8.1 million square feet of space in projects that are awaiting approval, including the portions of the Valencia project that have yet to be approved for vertical construction. The forecast calls for approximately 6,500 new housing starts in the City of Santa Clarita between 2022 and 2026. Additional units will be permitted in the surrounding unincorporated areas. Investment in non-residential structures will sum to more than $400 million for

the entire 2022-2026 forecast period. The FivePoint Valencia Project broke ground with major sitework in October 2017. Land sales to builders began in late 2019, and permits for individual units began to be issued in 2020. Consequently, there was a meaningful rise in new housing permits beginning in 2020 and the forecast calls for additional increases through 2026. If you are curious about other economic factors and information from our September 2021 Forecast, visit us at www.scvedc.org and download the Fall Economic Outlook Book! The Santa Clarita Valley Economic Development Corporation (SCVEDC) is a unique private/public partnership representing the united effort of regional industry and government leaders. SCVEDC uses an integrated approach to attracting, retaining and expanding a diversity of businesses in the Santa Clarita Valley, especially those in key industry clusters, by offering competitive business services and other resources. 

Econo Watch Santa Clarita Valley Q4 2021 Q3 2021 Commercial Vacancy Rates Office Space 22.10% 18.12% Industrial Space 1.80% 2.30% Total Marked Sq. Ft. Vacancy Percentage: Office Space - as a % of Vacancy Industrial Space - as a % of Vacancy

9.99% 90.01%

Building Permits

New Commercial/Industrial Building Permits Commercial Tenent Improvements/Alterations

Local Company Stock Prices California Resources Corp (CRC) Carnival Corp. (CCL) FivePoint (FPH) Mission Valley Bank (MVLY)

Jan ’22 42.62 19.81 5.79 14.75

Q4 2021 Sq Ft 2,799,950 25,234,826 28,034,776

9.97% 90.03%

Jan ’22 17 12

Dec ’21 42.71 20.1 6.54 14.3

N/A N/A

Dec ’21 Jan ’21 2 24

% Change -0.21% -1.44% -11.47% 3.15%

9 36

Six Flags * (SIX) Woodward (WWD)

39.49 110.27

42.58 109.46

-7.26% 0.74%

Unemployment Rates Santa Clarita Palmdale Lancaster Glendale Los Angeles County State

Jan ’22

Dec ’21 % Change 5.9% 10.5% 10.9% 7.0% 7.1% 6.5%

-11.86% -10.48% -11.01% -14.29% -12.68% -23.08%

Housing Stats SCV Average Home Price SCV Average Condo Price SCV Home Sales SCV Condo Sales SCV Avg. # of Days on Market (SF) SCV Single Family Home Inventory

Jan ’22 846

Dec ’21 885

Jan ’21 746,800

5.2% 9.4% 9.7% 6.0% 6.2% 5.0%

557 166 56 39 179

512 2,961 1,125 27 123

457,900 198 74 38 184