By the BF Staff
From the March/April 2018 Issue
Situated in the fastest-growing region of the United States, Moreno Valley in the Inland Empire is only an hour away from Los Angeles, Orange and San Diego counties and less than three hours to Nevada, Arizona and Mexico.
At an annual growth rate of 5.04 percent, Moreno Valley’s population of 210,000 is booming. 2.3+ million people live within a 20-mile trade radius and form a strong workforce of 1.1 million. This solid growth has propelled the City to become the second largest population in Riverside County and the twenty-first largest in California.
Moreno Valley led the region in absorption of more than 8.4 million square feet of new industrial corporate facilities in the past two years. The newly-approved World Logistics Center offers an additional 40.6 million square feet—the largest industrial corporate business campus in California.
Moreno Valley provides ample shopping opportunities with two regional shopping destinations and 40 shopping plazas. Major tenants include Costco, SuperTarget, Home Depot, Macy’s, Burlington, TJ Maxx/ HomeGoods, Ulta, BevMo and more. There, restaurant chains outperform the national average by as much as 25.6 percent.
Riverside County’s hospital headquarters (Riverside University Health System) is located in Moreno Valley, along with Kaiser Permanente. Both campuses are expanding their facilities to meet strong regional demand.
“We’re growing in Moreno Valley,” says Corey Seale, Chief Operating Officer of Kaiser. “The concierge approach has been really positive. We encourage any other company who is looking for a great city to join us here.”
The housing market is booming, too. Residential construction is adding new housing opportunities with more than 6,300 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.
The City’s ideal Southern California location makes it simple to access sophisticated and convenient transportation systems. Moreno Valley’s own March Inland Port Airport, part of the March Reserve Air Force Base, allows for air cargo and private corporate flights, while passengers choose from five international airports within an hour’s drive. The City also offers multiple highway, rail and bus options.
Three colleges—the University of California, Riverside, California Baptist University and Moreno Valley College—attract more than 40,000 students each year. In total, 44 universities and community colleges educate 225,655 undergraduates within 50 miles of the City.
“One of the great things about 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 not seen a City work so closely in developing those kinds of partnerships.”
The City has a strong workforce of more than 88,000. March Air Reserve Base is the City’s largest employer with 9,600 employees. The second largest is Amazon, with 7,500. Many of the largest employers work closely with the City for their hiring needs, including Waste Management. Says District Director Ken Maxey, “Waste Management employs 210 people. Moreno Valley has a readily available workforce that will add to the value of any business.”
In Moreno Valley, time is money. They’ve formed a special concierge service and a quick-response strike team to assist developers and businesses 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 offers attractive electric rate discounts that range from seven percent to 26.5 percent. Businesses may receive an additional two percent discount for hiring 20 percent of their workforce from Moreno Valley residents or an additional four percent discount for hiring 40 percent of their workforce from Moreno Valley residents. Additional rebates exist for solar power and energy efficiency upgrades.
The City also developed the “Hire MoVal” program, which offers business license fee waivers and access to small business development resources. Together, the City of Moreno Valley and the County of Riverside run the popular Employment Resource Center, offering businesses free workforce recruitments, employee training, business consulting, workshops and job postings. Under certain criteria, businesses receive incentives for hiring recent graduates, as well.
“We had several areas of consideration to place a Hyundai dealership,” 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.”
It doesn’t stop there. For businesses operating in imports and exports, Moreno Valley is a designated foreign trade zone. And under the Time and Materials program, businesses may be eligible for cost savings on post-entitlement Planning, Building & Safety, Land Development and Fire Prevention plan check, permit and inspection fees.
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 [email protected]