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Vaccines to the Rescue: Sustained Economic Growth Finally in Sight

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Across the Inland Empire and Beyond, Economic Outlook Brightens as Vaccines Bring Promise of COVID-19 Containment

December 17, 2020 — The Inland Empire’s economic outlook has been given a significant boost with the news that multiple, effective vaccines for the COVID-19 virus have been developed and are being actively administered around the globe, according to an analysis released today by the UC Riverside School of Business Center for Economic Forecasting and Development. The first vaccines in the United States were given two days ago, on December 15, launching what will be a mass nationwide immunization campaign.

“While we’ve always known that the economic recovery hinged on controlling the virus, genuine containment has been a wildcard until now,” said Taner Osman, Research Manager at the Center for Economic Forecasting and one of the report’s authors. “Because we now have effective vaccines in hand, the path to economic recovery is more certain and governments and businesses can get a sense of the timeline for returning to normalcy.”

Although the stay-at-home mandates and restrictions enacted in California just this month will impact December’s numbers, significant job gains, including within the Inland Empire’s hardest hit industries, should begin in earnest in the coming months, according to the analysis. Moreover, the region will be building on a labor market recovery that has been slow but steady since April’s abysmal lows. 

Key findings include:

  • IE Employment Recovery: Despite one of the largest annual jobs declines on record in the Inland Empire (110,600 jobs lost from Oct 2019 to Oct 2020), the region has managed to outpace California in employment growth, adding back 93,100 positions since April. The nation’s rate of job growth, however, has outpaced the Inland Empire.
  • Unemployment Shrinking: The Inland Empire’s unemployment rate has also improved. At 9.2%, it is still far off from the 4% rate of one year ago but is now tracking slightly below the state’s rate of 9.3%. In addition, the region’s labor force has largely recovered with 28,300 workers added from Oct 2019 to Oct 2020, a 1.4% increase. This stands in contrast to continued declines in the California (-1.1%) and U.S. (-2.1%) labor forces.
  • Industry Pain: Far and away the hardest hit industry in the Inland Empire has been the Leisure and Hospitality sector, which has 27,600 fewer workers than it did one year ago, a 27.6% decline. But given the positive vaccine news, even this disrupted sector should begin to experience strong job gains in the next few months.
  • A Few Industry Bright Spots: The surge in e-commerce has helped keep the Inland Empire’s Transportation and Warehousing sector resilient over the last several months: Payrolls have expanded by 100 employees over the last year, compared with a 3.3% decline in the state overall.
  • Oil Prices and COVID Dampen Fuel Receipts: From the second quarter of 2019 to the second quarter of 2020, taxable sales receipts in the Inland Empire fell 8.4%. At 42.4%, the decline was most pronounced at Fuel and Service Stations, due to both less car travel during the pandemic and a drop in global oil prices.
  • Non-Effect’ on Housing Markets: California’s in-demand housing markets have been left relatively unscathed by the pandemic, and the Inland Empire is no exception. The median home price in the region has continued to rise steadily, jumping 12% from the third quarter of 2019 to the third quarter of 2020. Asking rents also grew 3.7%.
  • Retail Under Pressure: Demand for retail space in the Inland Empire has fallen over the last year as a result of mandated restrictions and consumer reticence amid the pandemic. Retail vacancies in the region grew to 9.9% in the third quarter of 2020 and asking rents fell 1.0%. Warehouse, office, and flex/R&D properties have not experienced the same drop in demand (just the opposite in some cases), and rents for all three have increased modestly.

The new Inland Empire Regional Intelligence Report was authored by Osman and Senior Research Associate Brian Vanderplas. The analysis examines how the Inland Empire’s labor market, real estate markets, and other indicators have been affected by the COVID-19 pandemic and where they stand in the economic recovery. 

View the full analysis here

The Inland Empire Business Journal (IEBJ) is the official business news publication of Southern California’s Inland Empire region - covering San Bernardino & Riverside Counties.

Health & Wellness

Dr. Anthony Hilliard Named President of Loma Linda University Health

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Seasoned healthcare leader to guide one of the region’s largest medical institutions through next phase of growth and global impact

The Loma Linda University Health Board of Trustees has voted to appoint Anthony Hilliard, MD, FACC, to serve as President of Loma Linda University Health (LLUH), effective July 1. Dr. Hilliard will continue to serve concurrently as Chief Executive Officer of the Loma Linda University Health hospitals, a role he has held since October 2024.

Dr. Hilliard will serve as President‑Elect through June 30, partnering closely with current President Richard Hart, MD, DrPH, who will remain in office through the transition.

“Dr. Hilliard is a deeply mission‑driven leader with exceptional experience across clinical care, academic medicine, and healthcare operations,” said Thomas Lemon, Chair of the LLUH Board of Trustees. “At a time when Loma Linda University Health continues to expand its global footprint in healthcare delivery and education, the Board has full confidence in Dr. Hilliard’s ability to lead with clarity, collaboration, and faith.”

The LLUH Board also expressed deep appreciation for Dr. Hart’s transformational leadership, which guided LLUH through a period of historic growth, strengthened mission integration, and significant advancement across its clinical and academic enterprises.

A Southern California native, Dr. Hilliard earned his medical degree from the Loma Linda University School of Medicine and completed his residency and cardiology fellowships at the Mayo Clinic, where he received multiple national honors. Since returning to Loma Linda University Health in 2009, he has served in progressively senior leadership roles, including Division Head of Cardiology; Chief Operating Officer of the Loma Linda University Faculty Medical Group and LLU Health Care; Senior Vice President for Clinical Faculty Operations of LLUH; Associate Dean of Clinical Operations for the School of Medicine; and, since 2024, Chief Executive Officer of the hospitals. 

In 2025, Dr. Hilliard was promoted to Professor of Medicine in recognition of his sustained contributions to academic medicine, leadership, and mentorship. Nationally, he has also held leadership roles with the American College of Cardiology and the American Heart Association.

“Dr. Hilliard understands both the complexity of our integrated organization and the sacred responsibility of our global calling,” Lemon added. “His leadership reflects Loma Linda University Health’s commitment to whole‑person care — locally and around the world.”

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Health & Wellness

Eastvale Native and NFL Safety Marcus Williams brings professional-level training to young athletes

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Williams has created the ideal elite environment for aspiring collegiate/professional athletes

NFL Safety Marcus Williams, who completed the 2024-2025 season with the Baltimore Ravens, announced today the grand opening of MW Athletix multi-sport performance training center in Corona, CA. The opening fulfills a lifelong dream of his to bring professional-caliber training to young athletes in his hometown via the same trainers and recovery specialists that he’s been training with for over a decade.

Joined by local city officials including Corona Mayor Jim Steiner and NFL friends like Miami Dolphins offensive tackle Terron Armstead and others, Williams will introduce two champion-building trainers Eliseo Cabildo and Keith Coury, who bring decades of strength and speed training to MW Athletix members. Also joining MW Athletix is Jocelyn Martinez, LMT, MMT from Gamebreak Sports Massage who is also part of Marcus’s original champion-building team.

“MW Athletix is about the relentless pursuit of excellence, a philosophy of mine that I wanted to bring back to my hometown where it all started,” said Williams, founder/owner of MW Athletix. “Here we will combine advanced training methods with community support to help athletes reach their goals. The focus will be on speed, agility and strength to create the fastest and most explosive athletes in all genres of sport. I am excited to see young superstars come to life here, and shine.”

Every aspect of MW Athletix promotes optimal athlete development and performance. The 7,800-square-foot exclusive private training environment has a 30-yard climate controlled indoor turf field, top-of-the-line strength equipment powered by an exclusive partnership with REP Fitness, media walls, assessment and performance monitoring, massage therapy and recovery services, and easy billing and scheduling through the MWA app.

“We are proud to have Marcus as a very active, life-long member of our community and welcome him to business ownership in Corona,” said Corona Mayor Jim Steiner. “He has already demonstrated his commitment to giving back to the Inland Empire youth through his charitable foundation, and knowing him, MW Athletix will be just as wildly successful. We also look forward to the dreams he inspires in these young athletes and the superstars who emerge from this endeavor.”

MW Athletix offers flexible training programs designed to provide options for both month-to-month and discounted training packages (three- to six-month commitments), allowing athletes to maximize savings and benefits. Training packages include free access to cold plunge and Normatec recovery systems. Athletes undergo Performance Assessments that analyze body composition, speed, power/explosion, and strength/velocity.

MW Athletix also specializes in cutting-edge sports injury recovery solutions designed to help athletes of all levels return to peak performance. This innovative approach combines the latest advancements in rehabilitation, personalized treatment plans, and performance optimization.
Recovery partner Gamebreak Sports Massage has over 15 years of experience and specializes in a wide range of therapeutic techniques.

Athletes who become founding members will receive $100 off membership when they pre-enroll before March 3, 2025. To schedule a tour or for more information, please click here.

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Health & Wellness

First pediatric partial heart transplant in southern California at Loma Linda University Children’s Hospital

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Partial heart transplant procedure offers lifelong solution for patients, reducing need for surgeries

Loma Linda University Children’s Hospital has performed the first pediatric partial heart transplant in southern California, a pioneering procedure that could transform the future of heart valve replacement. The 15-hour procedure was performed by a team led by cardiothoracic surgeon Anees Razzouk, MD, on January 21.

The patient, 12-year-old Ymiliano Hernandez, was born with truncus arteriosus, a rare congenital heart defect in which a single blood vessel exits the heart instead of the usual two, affecting normal blood flow. Hernandez underwent the partial heart transplant that replaced his damaged valves and outflow tracts with living tissue from a donor’s heart. Post-operative ultrasound results revealed that his heart now functions as if he had been born with a normal one.

“By age two, Ymiliano had already undergone two major surgeries, followed by a catheter-based procedure,” said Razzouk. “Later, a valve infection left him facing a fourth major surgery to replace two prosthetic valves. Instead, a partial heart transplant offered a better solution, providing viable tissue that could resist infection, grow with him, and support normal circulation.”

Hernandez’s cardiologist, Natalie Shwaish, MD, said she believes partial heart transplants are the future of valve replacement for many patients.

“It’s incredible to think about the benefits of this approach,” Shwaish said. “Traditional valve replacements, like those from human cadavers or cows, don’t last very long. That means patients often need repeat surgeries an average of every 10 years for the rest of their life. The risks increase each time the chest is opened, making repeated procedures a significant concern. The other option, mechanical heart valves, require blood thinners which are challenging to manage in children and always have the risk of bleeding.”

Key benefits of the procedure are:

  • Potentially longer-lasting solution compared to traditional artificial valves.
  • The new heart valve grows with the patient, reducing the need for future replacements.
  • Eliminates the need for lifelong blood thinners, making it safer for active children and future mothers.
  • Expands the donor pool by using hearts unsuitable for whole transplantation.

The procedure currently requires immunosuppression to prevent rejection which carries risks such as increased infection susceptibility.

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