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Santa Clarita ranks as 11th fastest growing retail market in California

Posted: April 10, 2008 6:28 p.m.
Updated: June 11, 2008 5:04 a.m.
 
The city of Santa Clarita ranks as the 11th fastest growing retail market in the state and among the "Top 25 City Retail Markets in California," according to the recent California Retail Survey.

The survey, which was based on analysis of 2007 retail sales, put Santa Clarita higher than the cities of Newport Beach, Beverly Hills and Santa Monica.

The city attributes the ranking to the over 1 million square-feet of new retail set to open in the next 18 months and Santa Clarita's business friendly approach.

"In the past few years, Santa Clarita has really become the premiere city for businesses in Southern California," Jason Crawford, economic development manager, said in a statement. "Our close proximity to Los Angeles, growing and affluent population and support of expansion of Santa Clarita's targeted industries sectors make us a city to watch."

The rankings included the top 50 markets with recorded sales in excess of $1 billion, according to a release from the city. These 50 cities are based on dollar volume, growth rates and sales per outlet and represent more than $179 billion in annual retail sales and about 46 percent of California's annual retail sales.

The California Retail Survey compiles its market analyses and rankings based on actual sales results from each of the 490,000 retailers in 58 counties and 482 cities statewide.

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