Shopping Center Business

JUN 2018

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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Hottest Market in Southern California Situated in the Inland Empire, the fastest-growing region in the United States, Moreno Valley is only an hour away from Los An- geles, Orange and San Diego counties and less than three hours to Nevada, Arizona and Mexico. At an annual growth rate of 5.04%, Moreno Valley's population of 210,000 – and workforce of 88,000 – is booming. 2.3+ million people live within a 20-mile trade radius and form a strong work- force of 1.1 million. This solid growth has propelled the city to become the second largest population in Riverside County and the 21st largest in California. Residents of Moreno Valley have an average household income of $74,823. More than 21,000 households earn $75,000 or more. Moreno Valley provides ample shopping opportunities with two regional shopping destinations and 40 shopping plazas. Restau- rant chains outperform the national average by as much as 25.6%. Three colleges – the University of California, Riverside, Cal- ifornia Baptist University and Moreno Valley College – attract more than 40,000 students each year. "The way Moreno Valley addresses the business community is to bring a team to present various offerings which shows what kind of value the City is offering," says Dr. David Poole, Vice President of Cal Baptist University. "I have never seen a City work so closely in developing those kinds of partnerships." Riverside County's hospital headquarters (Riverside Universi- ty Health System) is located in Moreno Valley, along with Kaiser Permanente. Both campuses are expanding their facilities to meet strong regional demand. The housing market is booming, too. Residential construction is adding new housing opportunities with more than 6,800 single and multi-family units under construction. Moreno Valley offers some of the most affordable corporate lease and land values, as well as the best housing value and cost of living, in all of Southern California. The average home value is in the low $300,000s. Incentives In Moreno Valley, time is money. A special concierge service and a quick-response strike team assist developers and busi- nesses with needs as they happen. And the City's plan check turnaround times are unparalleled – they consistently beat other agencies in the region. With its city-owned electric utility company, Moreno Valley of- fers attractive electric rate discounts that range from 7% to 26.5%. Additional discounts are provided for local hire. Businesses may also be eligible for cost savings on plan checks, permits and inspection fees. Together, the City of Moreno Valley and the County of Riv- erside run the popular Employment Resource Center, offering businesses free workforce recruitments, employee training, busi- ness consulting, workshops and job postings. Businesses receive incentives for hiring recent graduates, as well. "We had several areas of consideration for our Hyundai deal- ership," said owner Mike Brown, "and Moreno Valley was most favorable. The City has been amazingly easy to work with. They helped facilitate a Hire MoVal program for our recruitment needs." MOVING AT THE SPEED OF BUSINESS W hen executives at luxury electric hybrid auto manufacturer Karma Automotive chose a new site for a state-of-the-art manufac- turing plant, there was only one choice: the City of Moreno Valley, California. Supported by Moreno Valley's second-to-none pro-business environment, skilled and motivated workforce, strategic location and affordable lease rates, the US automaker shipped the first units of its luxury vehicle, the Karma Revero, last year. "Moreno Valley had the right attitude and was very proactive for our interests here. They were a partner from day one to the point when we started producing cars," said Dennis Dougherty, President and Chief Operating Officer of Karma Automotive. Ayres Hotel & Spa BJ's Restaurant and Brewhouse Black Bear Diner Burlington Café Rio Accelerating Opportunities Moreno Valley's ideal location, business friendly atmosphere and motivated workforce are why Karma Automotive and so many Fortune 500 companies have made it their home. For more information on what Moreno Valley can do for you, visit www.MorenoValleyBusiness.com or email edteam@morenovalleybusiness.com. 4,500 Businesses – and Growing Karma Automotive and other Fortune 500 and international companies are thriving in Moreno Valley. At 4,500 businesses strong, Moreno Valley is home to: Costco Fairfield Inn & Suites Habit Burger Home Depot Lowe's Macy's Outback Steakhouse Pieology Portillo's Residence Inn by Marriott SuperTarget TJ Maxx/HomeGoods Ulta Waba Grill ZPizza and Tap Room

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