Report shows IE economy growing

By on December 22, 2017

The Inland Empire economy is finishing 2017 on a strong note, with employment up and the region’s population also growing.

Riverside and San Bernardino counties combined experienced year-over-year job growth of three percent in October, twice the growth rate of California during that month, according to a recent study by the UC Riverside School of Business Center for Economic Forecasting and Development.

“Over this period, the region added proportionally more jobs than any of the state’s other large metro areas,” the report stated.

At the same time, the two-county region’s population growth between 2016 and 2017 placed Riverside County in the top five and San Bernardino County in the top 10 fastest growing counties in California.

“The Inland Empire’s recent population growth is indicative of a vigorous economy with the strength to draw in new residents,” said Robert Kleinhenz, executive director of research at the Center for Economic Forecasting and Development at the UC Riverside School of Business, in the statement. “That’s not surprising, given this is an area that is both leading the state in job growth and benefiting from a significant home affordability advantage compared to neighboring areas in Southern California.”