SCV Business Journal November 2020

Page 1

Contact: Perry Smith Business Editor Phone: 661-287-5599

S A N TA C L A R I TA VA L L E Y

BUSINESS JOURNAL BJ INSIDE SPOTLIGHTS B4 A message from the SCV

Email: psmith@signalscv.com Mail: 26330 Diamond Place Suite 100 Santa Clarita, CA 91350 SATURDAY, OCTOBER 31, 2020 · WWW.SIGNALSCV.COM · B1

HOMES, OFFICES COMING SOON IN THE SANTA CLARITA VALLEY BY EMILY ALVARENGA Signal Staff Writer

Chamber B5 SCV Chamber advocacy B9 The SCV EDC Econowatch

NEWS & FEATURES B1 Homes, offices coming

soon to SCV B2 A few projects in SCV

pipeline B7 SCV housing market

bouncing back B7 Jobs picture continues to

improve

SCV BUSINESS VOICES B1 Mission Valley Bank B3 M & M Fasteners Supply B6 Audiology Associates B6 SCVEDC B10 Henry Mayo

FROM THE EXPERTS B2 Paul Butler: Applying that

Golden Rule B3 Ken Keller: How to improve

profits B8 Paul Raggio: The

importance of planning B10 From the Assessor: A tax-

scam warning

F

rom commercial and industrial spaces to offices and more homes, the Santa Clarita Valley has continued to expand its development projects this year. Though the coronavirus pandemic has stalled progress, many projects have still been able to meet goals, either completed or nearing completion on development projects. “These projects are great for our community as we strive to bring in the jobs that our residents need so they don’t have to commute, and then the stores and restaurants that they want to go to,” Jason Crawford, the city of Santa Clarita’s planning, marketing and economic development manager, said. “So it’s very exciting to see these businesses continuing to bet on the future of Santa Clarita.” Here’s a look at the most significant developments that have happened so far this year in the SCV, according to the city of Santa Clarita and SCV Economic Development Corp. THE CENTER AT NEEDHAM RANCH Thought of by developers as the highlight for new developments in the SCV, this 135-acre business park, which lies within a 252-acre industrial project site. “That’s really one of the key development projects around, not only for the Santa Clarita Valley, but within the Southern California area,” Craig Peters, executive vice president of CBRE, the project’s leasing agent, said. “It’s an incredible project that offers the most functional state-of-the-art buildings that we’ve ever seen out here.” Phase 1, which comprises six buildings totalling approximately 850,000 square feet, was completed earlier this year. Each building features minimum clear heights of 30-36 feet, a minimum 120-foot truck court depth with secure yard areas, ESFR fire sprinklers and abundant vehicle parking.

The development on the corner of Plum Canyon Road and Skyline Ranch Road will give Plum Canyon residents some nearby, much-anticipated shopping and dining options. PHOTO BY DAN WATSON / THE SIGNAL “If you’re a warehouse operator that’s looking to store products, that additional clear height is extraordinarily important,” Peters said regarding the 36-foot clear heights. Illumination Dynamics, a lighting and electric rental production company for television, motion picture, sports broadcast and studio installations, has already moved into a building in Phase 1A, while it was recently announced that Amazon, the e-commerce giant, is set to move into one of the buildings. “There are two more deals that they’re very close to announcing,” Crawford said. “And while they’re signing leases for the buildings they’ve built, they’re already doing the prep work, the infrastructure, for building out the rest of the buildings.” While COVID-19 threw a curveball in securing some of the tenants that had been in the works, other markets doing well during the shutdown stepped in to backfill those spaces. “On the industrial side, the market has

done quite well, even during this challenging time,” Peters said. “Part of that was the effect of e-commerce companies continuing their insatiable desire to expand, but the other part of it was when the entertainment industry started filming again, you had a lot of pent up demand, so now that both those engines are firing, the industrial market has been doing very, very well.” In fact, they’re getting ready to break ground on Phase 2, which is expected to include roughly another 1.1 million square feet of buildings, soon, according to Peters. The business park located on Sierra Highway near Old Town Newhall, close to the southern tip of Santa Clarita, less than one mile north of the city of Los Angeles boundary and minutes from the Interstate 405 and 5 intersection, providing easy access to downtown, West L.A., LAX and the ports of Los Angeles and See GROWTH, page B9

SCV BUSINESS VOICES

NONPROFITS INCLUDED IN THE MAIN STREET LENDING PROGRAM TAMARA GURNEY

President and CEO of Mission Valley Bank

T

YOUR SUCCESS IS OUR MISSION

Part 2 of a 2-part series

his year brought business owners and nonprofits challenging obstacles of enormous proportions. Every organization experienced the pandemic in ways that were distinct to them and specific to their situation. In the early days of the pandemic, emergency financing options — including the Paycheck Protection Program (PPP) — were made available to help organizations manage day-to-day expenses. But not all available lending is rescue financing. The Federal Reserve Main Street Lending Program is designed to help credit flow to small and medium-sized for-profit businesses and nonprofit organizations — such as educational institutions, hospitals, and social service organizations — that were in sound financial condition before the onset of the crisis, but now need loans to help maintain their operations until they have recovered from, or adapted to, the impacts of the pandemic. (For profit businesses were discussed in the Oct. 2020 issue.) It is important to note that Main Street loans are not grants and cannot be forgiven. However, borrowers that received a PPP Loan can also receive a Main Street Loan provided they are an eligible borrower. The Main Street nonprofit loan terms generally mirror those of for-profit business loans, including the interest rate, principal and interest payment deferral, five-year term, and minimum and maximum loan sizes. Nonprofits are eligible for two loan options: the Main Street Nonprofit New Loans (maximum loan size is lesser of $35 million or the borrower’s average 2019 quarterly revenue) and Main Street Nonprofit Expanded Loans (maximum loan size is lesser of $300 million or the borrower’s average 2019 quarterly revenue). The nonprofit must have been in operation for at least five years and have a minimum number of 10 employees. Other eligibility criteria apply. To get started, potential borrowers should review the program and contact their current financial institution. As a sidenote, there is tremendous value in working with a client-focused, relationship-driven banker who will invest the time necessary to get to know a client and understand their unique needs. The path to long-term success is developing long-term relationships with bankers who demonstrate expertise, experience, and dedication to their clients’ success. Mission Valley Bank is a locally-owned, full service, independent community business bank headquartered in Sun Valley, California with a business banking office in Santa Clarita. They have SBA Preferred Lender status and are participating as an eligible lender accepting new customers from Southern California in the Main Street Lending Program. For more information visit www.MissionValleyBank.com or call (818) 394-2300.  

GETTING BACK TO BUSINESS One lesson learned during these challenging times is that having the right bank matters. Where does your business place its trust? As a locally-owned, relationship driven, community-based business bank, Mission Valley is committed to supporting clients through the ever-changing economic challenges of this extraordinary situation. At the close of the Paycheck Protection Program on August 8, 2020, Mission Valley Bank successfully funded 360 PPP loans securing more than $71.2 million in funding for clients. As Trusted Advisors, they continue to secure much-needed funding through a variety of loan programs to meet client needs. The San Fernando Valley Business Journal has recognized Mission Valley Business Bankers with the honor of “Most Trusted Advisor” for the past nine years. Client relationships with shared vision, purpose, and understanding makes this possible.

“After the application for a federal Paycheck Protection Program (PPP) loan got hung up in my big bank’s bureaucracy for almost a month – in spite of my being a 30-year customer – I contacted Mission Valley Bank who came to the rescue. In my opinion, CEO Tamara Gurney is a Rockstar! She called me on a Friday evening within an hour and several times over the weekend to ensure my PPP loan happened. Their small business team navigated my company’s application to approval and funding within a week.” — Gary Saenger, Founder and President Saenger Associates – Retained Executive Search Consultants

MISSIONVALLEYBANK.COM Branches located in: SAN FERNANDO VALLEY CORPORATE HEADQUARTERS 9116 Sunland Blvd., Sun Valley

VISIT MVB AT ITS NEW LOCATION OPENING NOVEMBER 2, 2020 SANTA CLARITA VALLEY BRANCH OFFICE 26701 McBean Parkway, Suite 100,Valencia

818.394.2300

661.753.5693


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