California Economy Problems Contributing To Inland Empire Growth
While the California economy continues a gradual pace of recovery, one of the regions hit hardest by the Great Recession is kicking back. Although much of California is still treading water to stay afloat with the strength of the dollar having a negative impact on agricultural exports in Central Valley and the Kern County oil fields experiencing their lowest prices in years, San Bernardino and Riverside Counties are on an upward journey past recovery.
Cities within the Riverside and San Bernardino Counties are experiencing economic growth that has been fueled by the recovery efforts of surrounding cities. The Inland Empire’s economic growth is ironic in a way, as it was one of the areas that was most heavily impacted by the recession. That being said, it has experienced a rapid growth spurt that can be compared to the swift job growth of the flourishing tech industry in Santa Clara and San Francisco.
The Inland Empire’s economic growth can be attributed to many of the pitfalls the rest of California is experiencing. For example, low and middle wage families are dominating the Inland Empire region because they are benefiting from the low oil prices that are encouraging them to spend their money on now-affordable commodities, such as food and gasoline. Likewise, since the strength of the dollar is affecting American exports, the volume of imports traveling through local airports and the San Pedro ports are coming to the Inland Empire for its distribution centers. While this may not be necessarily good at a national level, it is promoting the overall California economy, specifically the Inland Empire as it continues to experience job growth as a result.
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