10
J U LY 2022
SCV BUSINESS VOICES
SCV Companies: Business Climate in SCV is Robust HOLLY SCHROEDER
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President & CEO of SCVEDC
ocal 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 postpandemic 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 Santa Clarita Valley. Companies included in the survey represent different business sectors within the Santa Clarita Valley, 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 Santa Clarita Valley 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 and 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. Of the respondents, 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. Of the responses, 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
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expressed a preference for workers to return to the office, even those with positions that could work from home, and 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. I will review our findings in greater detail in this column in the coming months.
E C O N O M I C
INFORMATION VITAL TO YOUR BUSINESS IN 2022 AND BEYOND It's more important than ever for business leaders to arm themselves with vital information and data to gear back up and make decisions that will impact growth and success in 2022 and beyond. A panel of business leaders will discuss issues around corporate resilience, agility and innovation in the face of unique challenges. Economist Mark Schniepp, Director of California Economic Forecast will release the full Economic Outlook report focusing on data from the Santa Clarita Valley.
8:00 - 11:00 AM Pacific | September 9th, 2022 College of the Canyons - Performing Arts Center ECONOMIST
Dr. MARK SCHNIEPP California Economic Forecast
BUSINESS LEADER PANELISTS
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JOHN PRABHU LA North Studios
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TODD STEVENS Black Knight Energy LLC
TICKET & SPONSORSHIP INFO Online: scvedc.org/outlook Phone: 661.288.4400 Email: scvedc@scvedc.org
