Riverside County Office of Economic Development 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

5-YEAR HISTORY JOB

LOCATION QUOTIENT

CURRENT AVERAGE ANNUAL WAGES

JOBS

INDUSTRY

ANNUAL %

CHANGE

$57,302 $43,759 $65,146 $68,834 $34,562 $67,041

0.97 1.39 1.89 1.26 1.70 0.71

4,418 1,263 2,147 2,547

2.3%

ACCOMMODATION & FOOD SERVICES 23,809

22,956 21,956 18,354 16,224

4.4% 1.2% 2.5% -0.8% -0.7%

HEALTH CARE & SOCIAL ASSISTANCE

CONSTRUCTION RETAIL TRADE

-349 -673

EDUCATIONAL SERVICES

9,135

MANUFACTURING

ADMINISTRATIVE & SUPPORT & WASTE MANAGEMENT & REMEDIATION SERVICES PROFESSIONAL, SCIENTIFIC, & TECHNICAL SERVICES OTHER SERVICES (EXCEPT PUBLIC ADMINISTRATION

8,649

$44,097

0.87

31

0.1%

7,956

$71,310

0.68

498

1.3%

4,968 7,480

$84,815 $39,334

1.10

361 248

1.5% 0.7%

0.82

WHOLESALE TRADE

8