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 573,663 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. Approximately 999,000 visitors stayed in a hotel, motel, or STVR in 2024, a 4.8% increase compared to the previous year. The region witnessed a rise in both overnight stays and day visitors in comparison to 2023.

(Source: Dean Runyan Associates, “The Economic Impact of Travel in Temecula Valley: 2024 Preliminary Estimates)

FASTEST GROWING PRIVATE INDUSTRIES

5-YEAR

JOB CHANGE

LOCATION QUOTIENT

CURRENT AVERAGE ANNUAL WAGES

JOBS

ANNUAL %

INDUSTRY

30,289 30,008 24,641 24,354 38,788 12,530 18,016

$36,775 $45,243 $70,781 $71,529 $54,088 $69,357 $62,101

1.44 1.28 1.69 1.24 1.03 0.66 1.47

5,794 2,477 9,990

4.3% 1.7% 1.3% 2.7% 6.1% 0.7% 8.9%

HEALTH CARE & SOCIAL ASSISTANCE

ACCOMMODATION & FOOD

CONSTRUCTION RETAIL TRADE

1,511

6,277 3,056

EDUCATIONAL SERVICES

TRANSPORTATION & WAREHOUSING

410

MANUFACTURING

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

11,806

$48,066

0.81

230

0.4%

10,658

$42,903

1.03

1,572

3.2%

10,216

$73,918

0.58

1,115

2.3%

8