Business
Inland Empire Wage Growth Fueling Local Taxable Sales
“Although we’ve seen a recent deceleration in employment growth, the tight Southern California labor market has sustained wage gains – and that’s translating into more spending by businesses and consumers,” said Robert Kleinhenz Executive Director of Research at the Center for Economic Forecasting. “Looking ahead, with the U.S. expansion now in record-setting territory, the Inland Empire economy may grow more slowly in the coming months but will stay on its current growth trajectory.”
- Healthcare Driven Growth: The industry driving the most job growth in the Inland Empire from May 2018 to May 2019 was Education and Healthcare, with an addition of 11,400 positions. The number two and three growth industries, Government (+5,400 positions) and Leisure and Hospitality (+4,100 positions), saw significantly less growth.
- Home Prices Continue Their Climb: A combination of space, amenities, and affordability has helped drive continued home price gains in the Inland Empire. The median price for an existing single-family home is $358,900 as of the first quarter of 2019, a 2.0% annual increase and a greater gain than occurred in Los Angeles (0.8%), San Diego County (1.8%), or Orange County, where prices actually fell (-0.1%). Still, the Inland Empire’s median home price remains 9% below its pre-recession peak of $393,400.
- Rental Market Demand Strong: Renters still enjoy a solid affordability advantage in the Inland Empire compared to surrounding regions. Average asking rent is $1,370/month as of the first quarter of 2019, compared to $2,029 in Los Angeles, $1,961 in Orange County, and $1,830 in San Diego County. The rental vacancy rate, however, is lower in the Inland Empire than in any of these other regions.
- Warehousing Stock Added As Demand Continues: The Inland Empire’s expanding Logistics sector is driving demand for warehouse and distribution space. Despite recent increases in new stock, and a resulting rise in the vacancy rate to 8.0%, asking rents increased 4.2% year-to-year in the first quarter of 2019.
Business
Inland Empire Chamber President Edward Ornelas, Jr. Named Finalist for Spirit of the Entrepreneur Awards
Celebrating Leadership and Innovation: Ornelas Recognized for Advancing Business Growth and Social Impact in the Inland Empire.
Edward Ornelas Jr., President of the Inland Empire Regional Chamber of Commerce and owner of the Inland Empire Business Journal, has been named a finalist in the famed 2024 Spirit of the Entrepreneur Awards. Ornelas is honored in the Social Entrepreneur category for his remarkable leadership and vision in fostering business growth and development across the Inland Empire. The award ceremony will take place on November 21, 2024, at the Riverside Convention Center, celebrating the best of entrepreneurship throughout the region.
The Spirit of the Entrepreneur Awards, often regarded as the “Oscars of Business” in the Inland Empire, recognizes the innovation, leadership, and impact of outstanding entrepreneurs across various sectors. Ornelas joins a select group of 34 finalists, each representing the entrepreneurial spirit and resilience that define the I.E. business community. The Social Entrepreneur category highlights individuals like Ornelas, whose work goes beyond profit to positively impact society.
In his role as President of the Inland Empire Regional Chamber of Commerce, Ornelas has been a powerful advocate for the business community, connecting small businesses with essential resources and creating opportunities for growth. As the owner of the IE Business Journal, the only publication in the region dedicated solely to business news, Ornelas has provided a platform for local businesses to thrive by sharing their stories and promoting their success. His innovative, forward-thinking approach to marketing has earned him a reputation as a “visionary” and a “get-things-done” leader across both public and private sectors.
“I’m deeply honored to be recognized as a finalist for the 2024 Spirit of the Entrepreneur Awards. This nomination is a reflection of the incredible businesses and community leaders across the Inland Empire who inspire me every day. At the Inland Empire Regional Chamber of Commerce, our mission is to empower businesses and foster economic growth, and this recognition highlights the collective efforts of our entire community. I’m excited for what the future holds as we continue to work together to make a lasting impact,” said Ornelas.
Other notable finalists for the 2024 Spirit of the Entrepreneur Awards include leaders in healthcare innovation, green technology, and digital transformation. Each finalist, selected by a distinguished panel of judges, represents the best in their respective industries and contributes to the Inland Empire’s continued growth as a hub of innovation and entrepreneurship.
The Spirit of the Entrepreneur Awards is an annual event that brings together business leaders, community advocates, and entrepreneurs to celebrate the entrepreneurial excellence that drives the region’s economy. This year’s event promises to be a night of inspiration and recognition, showcasing the achievements of finalists like Ornelas, who continue to elevate the Inland Empire’s business landscape.
For more information about the Spirit of the Entrepreneur Awards and to see the full list of finalists, visit www.spiritawardsie.com.
Business
CBRE Opens Newly Renovated, Tech-Enabled Office in the Inland Empire
The office is designed to support hybrid work and employee wellbeing
CBRE announced the opening of its new 10,159-sq.-ft. office suite on the ground floor of 4141 Inland Empire Blvd., in Ontario, Calif.
The office is part of CBRE’s Workplace360 program, which features innovative office designs and functionality, including in-office technology and a wider variety of collaborative spaces designed to support hybrid working. CBRE launched its Workplace360 program over a decade ago in its downtown LA office. Since then, the company has opened more than 100 Workplace360 offices worldwide, continually updating the program as work habits have changed over the years, especially with the increase in hybrid work.
“Our newly renovated space provides us with a great opportunity to deliver a collaborative, experience-driven workplace that supports hybrid work,” said Ian Britton, managing director and market leader for CBRE in Inland Empire. “Our Workplace360 office will also serve as a showpiece to help clients conceptualize flexible work strategies for their employees.”
The renovated office has several different work areas including focus, huddle, living, and conference rooms. The open-space lobby, known as the “Heart,” features a variety of seating and a communal space for collaboration. A large 86” media display with a speaker system welcomes employees, visitors, and clients and assists with onsite events.
New office technology, including touch-enabled video conference rooms, allows for hybrid work collaboration between in-office and remote employees and clients. Additionally, the Mt. Baldy conference room has Liquid Galaxy, a geospatial visualization platform set across large format curved screens providing a cinematic presentation experience. This room has an operable wall that opens to the Heart, creating an onsite event space.
A cornerstone of the Workplace360 model is its free-address approach, in which there is no dedicated seating. The free-address approach allows employees who are in the office on a given day to use any workstation or office.
The office’s design led by CBRE Design Collective, took inspiration from the Inland Empire’s orange groves and mountainous landscapes of Mt. Baldy. Images of Route 66 from local photographer VC Torneden features the role the highway plays in the area.
Business
Local Veteran and His Family Open New Graze Craze Charcuterie Business in Murrieta, California
Southern California wine country gets another stylish culinary option, offering beautifully designed, hand-crafted grazing boards and picnic boxes
Graze Craze® has opened a new location close to the wine country of Southern California, where its artfully arranged sweet and savory grazing boards and boxes create a perfect pairing for food lovers. Located at 24530 Village Walk Place, Suite C, in Village Walk Plaza, the 1,021-square-foot store is owned and operated by disabled veteran Chris Stout and his wife, Stephanie Stout, with assistance from their teenage children.
At Graze Craze, highly trained experts known as Grazologists™ skillfully design charcuterie arrangements that feature an assortment of fine ingredients perfect for grazing, like fresh fruits and vegetables, premium meats and cheeses, artisanal sweets, nuts, house-made jams and more.
Chris Stout enlisted in the U.S. Navy in 2001 and served several deployments before being discharged in 2012. Since then, he has worked as a field service engineer for an electronics company and in manufacturing sales. Stephanie Stout has a bachelor’s degree in business accounting from the University of Phoenix and worked for an insurance broker before the couple’s first child was born; she then devoted herself full-time to raising their three children, who are now in high school.
Graze Craze charcuterie boards offer something for every lifestyle, dietary preference or palate and are available in a variety of size options to cater to any occasion, big or small. They incorporate a medley of flavors, like the fan-favorite Gone Grazey board, a perfectly balanced mix of cured meats, premium cheeses, crackers, fresh produce, nuts and more. The Vegegrazian is impeccably designed with a plethora of fresh fruits and vegetables for anyone embracing a plant-based lifestyle. Those with an undeniable sweet tooth can enjoy the Sweet & Grazey, a hand-crafted board featuring an abundance of delectable desserts like chocolates and baked goods paired with sweet dips to accent the irresistible flavors.
New to the Graze Craze menu is the Brunch Board, a gourmet and innovative twist on any morning routine. Packed with breakfast meats, fresh fruits, eggs, pastries and more, this board is the perfect bagel-and-donut brunch alternative. Grazers can also tackle watch-party cravings with a seasonal Game Day Board, featuring a feast of
crowd-pleasing ingredients, like peppered salami, Italian prosciutto, goat cheese, cranberry walnut bread, raspberry jam and chocolate bark, to name a few.
The artisan-inspired charcuterie offerings at Graze Craze are available in different size options, from Char-Cutie-Cups and Picnic Boxes for nibbling to sharing-size boards with enough fresh food to feed a large party. The food displays are ideal for elevating work meetings, family gatherings, lavish events and more, while they also make for memorable gifts that impress.
Besides sharing the flavorful menu with the area, the Stouts are actively involved in numerous local school, business and community organizations. The pair supports the Murrieta Valley High School Marching Band Boosters and California High School Rodeo Association District 8, in addition to the Boy Scouts of America California Inland Empire Council and Friends of Temecula Troop 309, where Christopher Stout is a part of the adult leadership team. The couple has also worked with Homes For Our Troops, an impactful nonprofit organization that builds specially adapted homes for post-9/11 disabled veterans.
Graze Craze Murrieta is open for pick-up, catering and free local delivery Monday through Saturday from 9 a.m. to 6 p.m. and Sunday from 10 a.m. to 2 p.m. For more information, call 951-942-7293.
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