Thriving enterprises seeking to broaden their reach recognize a prime destination in Southern California that consistently outperforms others: Moreno Valley.
Companies such as Sprouts Farmers Market, Texas Roadhouse, 85°C Bakery, Raising Cane’s, Hilton, Capriotti’s Sandwich Shop and WoodSpring Suites are extending their presence in the city for good reason. They benefit from Moreno Valley’s unparalleled business-friendly atmosphere, a driven workforce, strategic positioning and competitive leasing rates.
Fortune 500 and global corporations are flourishing in Moreno Valley, and below are some of the reasons why.
Strategic Positioning
Situated at the junction of SR-60 and I-215, Moreno Valley is an hour’s drive from Los Angeles, Orange and San Diego counties, and less than three hours from Nevada, Arizona and Mexico.
Moreno Valley hosts big names like Costco, SuperTarget, Home Depot, Macy’s, Burlington, TJ Maxx/HomeGoods, Sportsman’s Warehouse, Ulta Beauty, BevMo! and more.
The city boasts 200 nationally recognized and boutique eateries, providing unique dining options such as BJ’s Restaurant and Brewhouse, Portillo’s, Texas Roadhouse, Raising Cane’s, Café Rio, The Habit Burger Grill, Chili’s and Mountain Mike’s Pizza. Restaurant chains in the city outperform the national average by as much as 25.6 percent.
The hospitality sector is thriving. Hilton Garden Inn is in development, Residence Inn, Holiday Inn Express, Fairfield and WoodSpring Suites have opened, and more hotels are close to being announced.
Unmatched Growth
Moreno Valley’s population of 214,000 is booming, with a projected growth rate of 4.31 percent. The city has seen 34,600 jobs added to its ranks in the last 11 years. 2.4 million people live in a 20-mile trade radius, and the average household income exceeds $101,000.
Residential development is expanding, with 7,000 single and multifamily units currently under construction or in the works.
Three colleges (University of California, Riverside, Cal Baptist University and Moreno Valley College) draw over 53,000 students. In total, 44 universities and community colleges educate more than 225,000 undergraduates within 50 miles of Moreno Valley.
Riverside University Health System Medical Center (headquarters for Riverside County’s hospital system, based in Moreno Valley) and Kaiser Permanente are both expanding their facilities by more than 1 million square feet each to meet strong regional demand.
Incentives
Moreno Valley knows that time is money, and their concierge service assists businesses through each stage of the development process. Plus, the city’s plan check turnaround time consistently beats other agencies in the region.
With its city-owned electric utility company, Moreno Valley offers attractive discounts on electric rates ranging from 7 to 26.5 percent. Businesses that hire locally may receive an additional two to four percent discount.
The City also developed the Hire MoVal program, which financially rewards businesses that hire local graduates and veterans. Together, the City of Moreno Valley and the County of Riverside run the popular Business & Employment Resource Center, offering businesses free workforce recruitments, employee training, business consulting, workshops and job postings.
Under the Time and Materials program, businesses may qualify for cost reductions on post-entitlement Planning, Building & Safety, Land Development and Fire Prevention plan checks, permits and inspection fees.
Hottest Market in Southern California
With a thriving business community of 4,500 establishments, Moreno Valley hosts regional headquarters and major facilities for renowned companies such as ALDI, Amazon, Skechers USA, BowFlex, Floor & Decor, Harbor Freight Tools, Solaris Paper, Gate City Beverage, iHerb, Lowe’s Home Improvement, O’Reilly Automotive, Ross Dress For Less, Serta Mattress and electric vehicle manufacturer Karma Automotive.
The City of Moreno Valley is Southern California’s number one location for business growth and expansion. Contact the city to learn more.
951.413.3460
— By Melissa McClain, City of Moreno. This post is posted as part of Shopping Center Business’ Retail Insight series. Click here to subscribe to the Retail Insight newsletter, a four-part newsletter series, followed by video interviews delivered to your inbox in May/June.