Shasta County’s Manufacturing Growth
In the past few years, major economic growth has come to Shasta County and Redding, CA. While many rural areas of the country struggled to recover from the Great Recession, business migration to Northern California has led to long-term economic growth in Redding, CA, a remarkable success story even in our booming national economy. In fact, according to the United States Bureau of Economic Analysis, Shasta County saw growth in real gross domestic product growth rates of 10.6% in 2017.
If You Own a Business and Are Looking to Expand Call or Email the Shasta EDC
Shasta County Is Seeing Substantial Economic Growth Relative to Similar Areas
Shasta County’s Economic Growth Outpaced the largest Regional Planning Units in California
What’s driving this economic growth? The acceleration of job growth has been a major factor in the economic growth Redding, CA is seeing in recent years. As part of California’s North State, Shasta County is categorized in the smallest regional planning units (RPUs) of the state. Since August 2017, the North State saw more growth than many other areas in the state, especially more rural areas. In August 2018, the North State had a 2.1% year-over change in non-farm jobs, giving the region the highest percentage change of California’s smallest RPUS. Overall the econimy is growing, unemployment is declining, and we are continuing to train our workers to meet the needs of our growing sectors.
The North State RPU, or Redding MSA, is experiencing rapid growth due to our collaboration, excellent company management, and the new talent that is attracted to our outdoor adventure lifestyles
In Redding specifically, there has been job growth as ur businesses expand The year-over-year changes in nonfarm jobs in Redding from August 2017 to August 2018 totals about 2,500 new jobs. That number translates to a 3.8% increase in overall jobs, putting Redding at the second highest percentage growth among California’s smaller areas.
The term “nonfarm jobs” is fairly general, but it includes a wide range of industries that point towards healthy urban development. In Redding, the following industries saw job growth from 2016 to 2017 that was significantly higher than the national average:
- Construction jobs are growing at nearly 3 times the national average
- Manufacturing jobs are growing at approximately 4 times the national average
- Wholesale Trade jobs are growing at almost 3 times the national average
- Finance, insurance, real estate, rental, and leasing are growing at 3 times the national average
- Professional and business services are growing at more than 2 times the national average
- Private goods production are at more than 2 times the national average
We are also attracting new talent and entrepreneurs who see we have a substantive “startup” ecosystem
Thanks to the economic growth in Shasta County, the region is becoming one of the fastest growing counties in California. The opportunities for jobs in the region are plentiful, and the economic growth Redding, CA has experienced is expected to continue for years to come.
If you want to learn more about the Shasta County Economic Development Corporation, fill out our easy online form or call us at 888-618-0887.