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|October 22, 2020|
Inland Empire outpacing California in new business growth
RIVERSIDE – (INT) - The number of new businesses being established in the Inland Empire has vigorously outpaced new business growth in California.
According to a new analysis released Tuesday by the UCR School of Business Center for Economic Forecasting and Development, the total number of businesses in the Inland Empire grew by 11.1% between 2011 and 2016 (the latest numbers available). That far outstrips the 8.6% gain in businesses statewide.
Moreover, the 7,182 businesses that have been added in the region have more than offset the loss of nearly 2,000 businesses that occurred between 2006 and 2011 as a result of the Great Recession.
According to the analysis, the Inland Empire’s robust growth in business establishments has been primarily driven by the health care, food and hotel services, construction, and transportation and warehousing industries.
Story Date: June 13, 2019