The Santa Clarita Valley: An Economic Powerhouse
A mere eight miles from the City of Los Angeles boundary, the Santa Clarita Valley is an economic engine in its own right. The area is home to 90,000 jobs – with 3,000 jobs created just in 2015 – in diverse sectors including biotech, technology, entertainment, healthcare and aerospace. Santa Clarita is the world headquarters of leading businesses Sunkist and Princess Cruises, and has more than 30 million square feet of job-generating space. It also falls within the entertainment studios’ Thirty-Mile Zone, fostering film and television production in the area with 17 sound stages in Valencia alone.
Creating Jobs Close to Home
Newhall Ranch will create 11.5 million square feet of job generating uses at buildout and generate thousands of permanent jobs, helping the Santa Clarita Valley continue to thrive economically and allowing families to live close to their work.Building a master-planned community of this size and fostering economic growth – without increasing greenhouse gas emissions – represents a model for sustainable master-planned communities and a true legacy project for California and beyond.
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NEWHALL RANCH BY THE NUMBERS
Easing California’s Critical Housing Shortage
As California’s population grows and our economy rebounds, housing is not keeping pace. The population of the City of Los Angeles has topped 4 million for the first time ever. This represents an increase of more than 50,000 people in a single year.
Yet housing growth has remained relatively flat, causing housing stock to continue to lag significantly behind population in terms of growth. This gap has also led to rising housing prices and rental rates because the supply is simply not keeping up with the demand.
Newhall Ranch will deliver on California’s unmet housing needs, building 21,500 new housing units at buildout. This much-needed housing will include a wide variety of prices and sizes, including affordable housing.