Tuesday, November 20, 2007

Newcomers and the Antelope Valley

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.

Read the entire Daily News Report

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