A Resilient Economy Through Diversification and Collaboration
How often do you think about your community’s economic development? Never, you say? Or maybe just when that alluring new business “opens up shop”? We get it. It’s the job of economic development organizations to think about this all the time so you don’t have to!
Many times, the work of economic developers goes unnoticed and cruises under the radar. And that’s okay! Being a silent investor in a region’s economic well-being and quality of life is rewarding in itself and in May is celebrated with Economic Development Week.
It is an honor for our business development team at the Santa Clarita Valley Economic Development Corporation ( SCVEDC) to serve this region and help drive economic growth in our economy. Now more than ever, a thoughtful, integrated approach to economic development is critical to growing and sustaining quality jobs.
Our approach to economic development targets a diverse set of industries to create a resilient economy: aerospace and defense, information technology, digital media and entertainment, advanced manufacturing, medical devices, and corporate headquarters.
These sectors are targeted because they are complementary to each other and the L.A. region, while also being distinct enough that they have different economic drivers, reducing the risk that macro-economic trends will affect all sectors simultaneously. It is a deliberate strategy designed to ensure ongoing employment opportunities and tax generation, which helps us maintain our high quality of life.
SCVEDC offers the unique collaboration of a public/private partnership with the City, the County of Los Angeles, educational institutions, and local business leaders. These partnerships allow us to comprehensively approach economic development for the entire valley, bringing quality jobs and increased opportunities today and in years to come.
Yes, economic development can be tricky. That’s why curating it is so valuable, and why it’s worth your time to, at least occasionally, pay attention to how your community is growing and the industries that are taking root there.
The Santa Clarita Valley Economic Development Corp. is a unique private/public partnership representing the united effort of regional industry and government leaders. The SCVEDC utilizes an integrated approach to attracting, retaining, and expanding a diversity of businesses in the Santa Clarita Valley, especially those in key industry clusters, by offering competitive business services and other resources. For more information, visit SCVEDC. org.