June 20,2014
A new study about the South San Joaquin Valley has found that contrary to popular belief, the region has actually outperformed most other areas of the state in its long-term job expansion, as well as other key measures of growth. The results of the report will be presented at the Doubletree Hotel in Bakersfield at 9 am on Friday June 20th, in a public meeting co-sponsored by California State University, Bakersfield. The report will be presented in Fresno County at a community event in July.
Published by the Pat Brown Institute for Public Affairs at Cal State L.A. with funding from The California Endowment, the study by independent research firm Beacon Economics finds that between 1990 and March 2014, the South San Joaquin Valley expanded its employment base by 50% – the 8th largest expansion among the state’s 26 metropolitan areas. Over the long term, this job growth exceeds that of the state’s most famous economic powerhouses, San Francisco and the Silicon Valley.
“Beacon Economics knows our region well and it is evident by the thorough analysis and findings generated in this report. Our region is recovering and as Beacon notes, we have many, many positive attributes that will continue to contribute to positive economic growth in 2014 and beyond. We are confident that the forecast Beacon has issued will be achieved or exceeded.” — Paul M. Saldana, CEcD, President & CEO, Economic Development Corporation
The South San Joaquin Valley has one of the fastest growing populations in the state – an indicator not consistent with an economy in decline. Since 1990, the number of local residents in the region has grown by 50% compared to a roughly 28% population expansion in the rest of the state.
“Many of the study’s findings may surprise people given pessimistic perceptions about the future of the South San Joaquin Valley’s economy,” said Dr. Raphael Sonenshein, Executive Director of the Pat Brown Institute. “The authors show that the region has not only been a long term driver of economic growth in the state, but more recently, that it has largely recovered from devastating damage caused by the recession.”
The Beacon analysis finds that although the South San Joaquin Valley was hit harder by the recession than most of the rest of the state, it has now recovered all the jobs it lost, and consumer and business spending has surpassed its pre-recession peak.
The Pat Brown Institute partnered with CSU Bakersfield to bring the findings of the report to the Kern County community. “With one of California’s fastest growing populations and many challenges ahead, bringing accurate and well-reasoned analysis about the successes and future direction of the South San Joaquin Valley to the forefront of public discussion has never been more important,” said Dr. Horace Mitchell, President of CSU Bakersfield. “The study brings applied research to an often misunderstood area of California and will hopefully foster dialogue about how to address our local challenges and opportunities.”
Things are not all rosy. The report notes the impact of pollution and the continuing drought. Indeed, drought faces California’s colossal agriculture industry with a major threat to the region and the state. “The South San Joaquin Valley represents a much larger share of the California economy than it used to, growing in relative not just absolute terms,” said Christopher Thornberg, Founding Partner of Beacon Economics and one of the study’s lead authors. “As an increasingly vital part of the larger economy, effects here will leak out to the rest of the state making it all the more important to address serious challenges, including what may be the worst drought on record.”