RIVERSIDE
Riverside’s Advantages Instill Lasting Confidence
Over the last decade, the City of Riverside has risen
to prominence as one of the fastest-growing metropolitan areas in the United States and the 12th
largest city in the state. And while no city is immune to
the challenges brought on by current economic conditions affecting the nation, optimism persists in Riverside
due to key advantages that help to instill confidence and
stability.
A STRONG WORKFORCE FOR THE FUTURE
The City of Riverside continues to maintain and strengthen
its leadership as an Inland Southern California job center
because of a diverse industry base and burgeoning high-technology and research corridors as well as forward-thinking economic development initiatives and an overall
business-friendly environment. With an economic development strategy that includes support for programs such
as a high-technology tenant improvement initiative to
encourage entrepreneurialism, a Fast Track permitting
system to expedite review for qualified projects and community programs such as Digital Inclusion, which provides
training and computers to low-income families, Riverside
is serious about inspiring high-end job growth and a ready
workforce to take on the load.
In fact, evidence of the wisdom in this proactive approach is already emerging. This year the city has welcomed new technology industry businesses such as
software developer OmniPlatform, a company that creates
enterprise software solutions for a growing international
client base; and celebrated expansion of 13-year Riverside
veteran Surado Solutions. Surado is a high-tech company
that specializes in customer relation management solutions for businesses worldwide. Surado’s rise from humble
beginnings in a 400-square-foot home office in 1995, to
this month’s grand opening of their new 35,000-square-
foot Corporate Center in Riverside’s University Research
Park, is a strong testament to the power of the entrepreneurial spirit and Riverside’s ability to foster and support
local business success.
In addition to the City’s insightful strategies for long-term prosperity, Riverside has built-in advantages that
ensure continued economic growth. Riverside is home
to four internationally recognized institutions of higher
learning with a combined student population nearing
50,000. The largest, the University of California, Riverside,
is the fastest-growing campus in the University of California
system, and is about to expand further with the establishment of a medical school, projected to welcome its first incoming class of students in the fall of 2012.
Secondly, during the booming economic conditions of
the last few years that sent home prices soaring in Orange
and LA Counties, the City of Riverside has benefited from a
tremendous inland migration of educated, professionally-skilled residents seeking move-up housing options; a fact
that has resulted in an even stronger, more prepared local
workforce.
A diverse industry base, a talented workforce and business friendly development policies- all abundant evidence
that the City of Riverside is poised for future success.
CITY INFORMATION
POPULATION, 2008:
MEDIAN AGE:
AVERAGE HOUSEHOLD INCOME;
296,842
30. 2
$69,611
MEDIAN HOME PRICE:
$242,000
RETAIL SALES
TAXABLE SALES, 2007 (BILLIONS) $4.8
TAXABLE SALES GROWTH (2003-2007) 126%
TAXABLE SALES PER CAPITA, 2007 $16,122
HIGHER EDUCATION
STUDENT POPULATION: 50,000
INSTITUTIONS OF HIGHER LEARNING: 4
TRANSPORTATION CORRIDORS
ACCESSIBLE FREEWAYS: I-215, 91 (Riverside) & 60
RAIL: BNSF & UPSP
AIR: RIVERSIDE MUNCIPAL AIRPORT, ONTARIO INTERNATIONAL AIRPORT
CARGO: UPS, FEDERAL EXPRESS GROUND
Tricia Hinckley
Economic Development Manager
951-826-5910
thinckley@riversideca.gov
