Page 12 - Moreno Valley 2019 Popular Annual Financial Report

ECONOMIC
OVERVIEW

MORENO VALLEY

The City of Moreno Valley continues to be a leader in business development with 4,500 businesses strong, including many
Fortune 500 and international companies such as Amazon, Proctor & Gamble, Skechers USA, Karma Automotive and many
more. In addition, the City has an array of undeveloped land, development opportunities, entitled development projects, and
available lease space at economically feasible prices to continue its growth into the future.

Following employment growth within the City, wage growth has also seen a 7% annual growth rate along with average
household income increasing nearly 25% since 2015.

The City continues to look forward to ongoing growth with millions of square feet of industrial space under construction. This is
in addition to the previously approved World Logistics Center, which would be the largest industrial park in California with over
40 million square feet of development over 2,600 acres of land and projected to produce thousands of new jobs.

Dr. Yxstian Guttierrez, Mayor of Moreno Valley, revealed in his annual State of the City address, held on August 22, 2019, that
20,000 new jobs have been created in the City in just the past six years and the employment rate is at an amazing 96%. “These
are 20,000 opportunities for residents to escape hours of stop-and-go freeway traffic commuting to work,” Mayor Gutierrez said.
“By working close to home, they get to spend all the time and money they save enjoying the lives and families and community
they’ve created here in Moreno Valley.”

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