By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 10/01/15 – 6:29 PM PDT |
RIVERSIDE >> Things are looking up for the regional, state and national economy, according to experts at the sixth annual Inland Southern California Economic Forecast Conference, held Thursday at the Riverside Convention Center.
Forecasters from the newly formed Center for Economic Forecasting and Development at UC Riverside’s School of Business Administration say there is little to hinder the Inland Empire’s growth with a majority of the area’s key economic indicators on the uptick.
The region is the third fastest growing job market in California, according to experts, with home prices and home sales on the rise, and a population growth outpacing some coastal areas and the state overall.
“I have the inland Southern California region growing faster than the state overall in terms of both jobs and population, next year as well, above 3 percent growth on the job front and hopefully population growth somewhere in the 2 percent range,” said Jordan Levine, economic research director for the Los Angeles-based Beacon Economics and a researcher for the new UCR economic center. “This isn’t something that’s just happened in the past. We expect this to continue growing.”
Levine said emerging sectors in the region hold promise as well.
“We have things like biotech and professional services,” Levine said. “There are lots of different (business) incubator programs right now, which I think are all real positives and real things to be optimistic about for what the future of the region looks like. … We are creating a lot of jobs at the higher end of the wage spectrum as well, things like professional services, health care, information technology, even on the manufacturing side.”
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