2023 Riverside County Economic Profile

Covering the cities of Canyon Lake, Temecula, Murrieta, Lake Elsinore, Wildomar, and Menifee, the region also covers unincorporated communities such as Aguanga, Anza, French Valley, Lakeland Village, and Wine Country. SOUTHWEST REGION

BUSINESS CLIMATE & TOURISM

Business Climate A prime location for business services and tourism experienced a rapid growth in 2023 with the total population of 558,964 residents with a rise in skilled labor, quality schools, a wide range of housing, and numerous commercials services that combine to create a desirable location for residents to live and to work. The fastest growing industries for this region include healthcare and social assistance, accommodation and food services, construction, retail trade, biotechnology, professional services, travel and tourism. Tourism One of the region’s most popular attractions is

the Temecula Valley Wine Country, spanning over 2,460 acres of vineyards with more than 50 wineries. Other attractions like Old Town Temecula, the Temecula Valley Balloon & Wine Festival, championship golf courses, and resort accommodations contribute to the city’s economic profile. In 2022, Dean Runyan Associates documented a significant surge of 46.2% in visitor activity in Temecula Valley, reflecting the nationwide travel patterns. The region witnessed a rise in both overnight stays and day visitors in comparison to 2021. (Source: Dean Runyan Associates, “The Economic Impact of Travel in Temecula Valley: 2022 Preliminary Estimates)

FASTEST GROWING PRIVATE INDUSTRIES INDUSTRY 2022 JOBS 2023 JOBS CHANGE IN JOBS (2022-2023) % CHANGE

2022 EARNINGS PER WORKER

24,662

32,879

8,217

33%

$67,396

HEALTHCARE & SOCIAL ASSISTANCE

17,197

22,881

5,684

33%

$31,731

ACCOMMODATION & FOOD SERVICES

20,225

23,475

3,250

16%

$74,526

CONSTRUCTION

OTHER SERVICES (EXCEPT PUBLIC ADMINISTRATION)

10,292

13,004

2,712

26%

$36,575

21,094

23,191

2,097

10%

$51,177

RETAIL TRADE

PROFESSIONAL, SCIENTIFIC, & TECHNICAL SERVICES ADMINISTRATIVE & SUPPORT & WASTE MANAGEMENT & REMEDIATION SERVICES

9,816

11,736

1,920

20%

$53,748

6,915

8,107

1,192

17%

$82,618

4,752

5,532

780

16%

$85,022

WHOLESALE TRADE

2,557

3,163

606

24%

$60,029

TRANSPORTATION & WAREHOUSING

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