PALMDALE - The Antelope Valley's population growth is driving the region's economic engine, adding more households with spending power and fueling local job growth.
Nearly 2,150 additional households a year have moved to the Antelope Valley since 2005, and the average household income of those living in the region less than four years is $67,900 - 3.5 percent higher than the overall area's average household income, a study has found.
"It's household economic stimulus to the economy and the job market," said Alonzo Pedrin, who led the study. "Every dollar spent by new households generates $1.28 in economic activity in the Antelope Valley."
Since 2000, the number of residents joining the work force has grown 1.56 percent annually; job growth has gone up 1.78 percent annually in the same period.
"You are adding local jobs at a faster rate than you are adding workers," Pedrin said.
The figures were part of a $55,000 labor market study done by Anaheim-based Alfred Gobar Associates for the Greater Antelope Valley Economic Alliance, or GAVEA, a nonprofit economic development organization supported by local cities and businesses and other government agencies.