DATA-INFORMED PLANNING (continued)

Santa Clarita Conditions:

• There are currently 8,836 housing projects under construction with 4,298 housing projects approved that have not yet broken ground and 17,832 more in the queue waiting for approval by the Santa Clarita Valley.

• Santa Clarita saw strong restoration in 2022 with pandemicinduced job loss has nearly restored; specifically, in retail trade, healthcare, professional and technical services, amusement, foods services, and recreation sectors.

• The number of new businesses has risen 5 percent since 2018, with the majority since 2021. This restored or created 9,000 jobs through 2022. Currently, as is true across the US, the current barrier to additional hiring is the unavailability of workers.

• The Santa Clarita Valley is projected to continue the restoration of jobs in leisure, hospitality, amusement, and recreation. Retail sales are projected to rise, although it appears there may be less opportunity for entry-level workers in this sector. Entry-level worker opportunities in amusement, hospitality and recreation remain strong.

• The population of the Santa Clarita Valley is expected to increase, although the rate is constrained due to limited residential growth, increasing from 296,620 in 2020 to 313,421 in 2027.

• Santa Clarita Valley demographics are shifting, with the population of age 25 to 44 years growing with early career individuals and future managers and executives.

• Overall, the Santa Clarita Valley has a comparatively younger population than LA County; however, the population age 65 and older in the SCV are growing at the fastest rate.