Inland Empire’s Road to Recovery
ByThe Inland Empire’s economy is strong, fueled by port activity and a bustling housing market, but that doesn’t translate into significant growth for the office sector. Although office-using jobs have grown by about 17 percent during the last decade, they account for only a small share (14 percent) of total employment. As a result, lease rates and development are increasing at moderate levels.
Job growth is led by port-related activities. The construction-related and trade, transportation and utilities sectors have added 22,300 jobs year-to-date through June, representing 53 percent of total new employment. With foreign trade nearing an all-time high and very little vacancy in the metro’s industrial segment, the local economy should remain healthy…
