KERN COUNTY MARKET OVERVIEW - MEMBER DIRECTORY 2021
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2021 KERN COUNTY MARKET OVERVIEW & MEMBER DIRECTORY
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PRESIDENT’S MESSAGE
Kern County,
California
Where Business is Boundless
IN 1988, Kern County’s public
and private sector leaders
forged a strategic coalition to
attract and retain high-value
jobs for the region. Since then,
Kern EDC-assisted projects
have generated over 32,000 Photo courtesy Doug Kessler
jobs; $6 billion in capital
RICHARD D.
CHAPMAN investment; and $1.2 billion in
President & CEO wage income for Kern County. meetings with consultants around the nation; the rollout of a county-wide business vitality
program designed to assist the region’s manufacturers with their expansion and retention
In June 2020, Kern EDC's Board of Directors needs; the premier of the Moving the Needle: Economic Pillars of Kern County series; and the
adopted the 2020-2023 Strategic Plan designed momentum created by the Kern Initiative for Talent and Entrepreneurship (KITE) project.
to guide the organization's business development
activities and programs through the ever-changing Finally, we were very honored to receive a prestigious 2020 International Economic
economic landscape. This bold visioning document Development Council "Excellence in Economic Development Award" for the Kern County
is supported by a new mission “to cultivate and STEMposium. IEDC's recognition of the Kern Economic Development Foundation’s
promote Kern County's boundless opportunities for signature event is the crowning achievement in the industry.
business.”
We invite you to partner with Kern EDC on our bold and innovative business development
Kern EDC's stated organizational goals and agenda, making Kern County the “best investment a business can make!”
objectives are specifically aimed at:
■ Raising the profile of the region and recruiting
companies that advance employment
opportunities and economic well-being for CO-EDITORS’ NOTE:
Kern County
■ Providing assistance to existing Kern County Kern EDC would like to express our sincere
businesses to retain and expand their operations appreciation to The Marcom Group for their
■ Working in partnership with other local outstanding design skills which brought this award-
organizations to help entrepreneurs access winning publication from the drawing board to
reality. The Market Overview would also not be
the resources they need to build successful
SOPHIA possible without the extraordinary talent of the ALONDRA
businesses and create jobs in Kern County GLIGOREVIC many local photographers who generously donated SANTIAGO
Market Overview their work. Their eye for the beauty and culture of Market Overview
An annual (quantitative) performance scorecard was Co-Editor Kern County allowed this annual publication to Co-Editor
also established to track the organization’s progress create a strong and accurate narrative of local life. Thank you to all the contributors who
in achieving the business development goals and helped with this publication and continually enhance the value that it has to our community.
objectives.
Indeed, Kern EDC is well positioned to succeed in
these three fundamental economic development
We invite you to partner with Kern EDC on our bold
areas. Recent “best practice” programs and initiatives and innovative business development agenda, making
include the launch of monthly site selector (virtual) Kern County “the best investment a business can make!”
1
ADVERTISERS INDEX
ADVERTISERS 29 | Greater Bakersfield Chamber
49 | Grimmway Farms
45 | Kaiser Permanente
43 | 8minute Solar Energy
52 | Kern Community College District
70 | Advance Beverage Company
37 | Kern Council of Governments
41 | Aera Energy
8 | Kern County
25 | America’s Job Center of California
52 | Kern County Superintendent
70 | AT&T
| of Schools
20 | Bakersfield Association of REALTORS®
70 | Kern Health Systems
20 | Barbich Hooper King Dill Hoffman
53 | Klein DeNatale Goldner
43 | Berry Corporation
39 | Madland Toyota-Lift
41 | California Resources Corporation
I | Marcom Real Estate
49 | California Water Service
16 | McIntosh & Associates
17 | Carney’s Business Technology Center
17 | Mechanics Bank
II | Chevron
16 | Moneywise Wealth Management
53 | City of Arvin
4 | Pacific Gas & Electric
28 | City of Bakersfield
70 | Sierra Printers
20 | City of McFarland
IBC | sPower
28 | City of Shafter
17 | Tangram Interiors
20 | City of Taft
49 | Tejon Ranch Company
28 | City of Wasco
IFC | The Marcom Group
52 | CSUB
16 | The Mogharebi Group
53 | CSUB School of Business
| & Public Administration 7 | Valley Strong Credit Union
17 | Cushman & Wakefield | Pacific 29 | Visit Bakersfield
| Commercial Realty Advisors
43 | Water, Energy and Technology
21 | Dignity Health | (WET) Center
43 | First Solar 13 | Wonderful Real Estate
2 2021 KERN COUNTY MARKET OVERVIEW & MEMBER DIRECTORY
TABLE OF CONTENTS
CONTENTS
1 | President’s Message
2 | Advertisers Index
Photo courtesy Tony Moreno
3, 5 | Table of Contents
6-12 | Helping Businesses Thrive in
| Kern County Since 1988
Learn more about the county’s primary engine for
economic and talent development.
14-15 | Top 10 Reasons to Do
| Business in Kern County
With top rankings making national news, it’s easy to see
why Kern County is an economic powerhouse.
Photo courtesy Kern County Museum
18-19 | Quality of Place
With an array of outdoor and cultural activities, Kern
County has something for everyone.
22-24 | Kern County by the Numbers
Take an in-depth look into Kern’s economic growth, cost
of living, industry projections, and much more.
26-27 | Community Profile
With one of the fastest-growing populations in the
Photo courtesy Michael McCloskey
nation, Kern’s diverse communities continue to flourish
with opportunities.
30-35 | Kern’s Business Advantage
Strategic market access and a business-friendly
environment are just two of the reasons why companies
prefer Kern County.
Photo courtesy The Bakersfield Californian
Front cover includes photos courtesy
Michael McCloskey, Tony Moreno, and others
3
California
A powerful place to be
Whether your business is looking to relocate,
expand or identify cost solutions, we can help
with our Economic Development services
and incentives.
For more information, visit
pge.com/economicdevelopment.
“PG&E” refers to Pacific Gas and Electric Company, a subsidiary of PG&E Corporation. ©2019 Pacific Gas and Electric Company. All rights reserved.
4 2021 KERN COUNTY MARKET OVERVIEW & MEMBER DIRECTORY
TABLE OF CONTENTS
CONTENTS CONT.
36 | Target Industries
Photo courtesy Mojave Air & Space Port
Oil and agriculture aren’t the only industries making
headlines in Kern County. Discover more about what
Kern “does for a living.”
38 | Aerospace & Defense
East Kern County is home to some of the most innovative
and specialized technologies in the world.
40, 42 | Energy & Natural Resources
Kern County is the leading energy provider for California
and is connected to the strongest players in the global
energy industry.
44 | Healthcare Services
Photo courtesy Tony Moreno
Residents of Kern County enjoy an array of cutting-
edge medical services thanks to novel and innovative
healthcare providers.
46-47 | Transportation, Logistics,
| & Advanced Manufacturing
Kern’s easy one-day turnaround trip to California’s largest
population centers makes it a rapidly-growing home for
some of the world’s largest companies.
48 | Value-Added Agriculture
Thanks to fertile soils and one of the best climates for
fruit and vegetable production, value-added agriculture
Photo courtesy Tony Moreno
is a strong economic driver for Kern County’s economy.
50-51 | Education & Workforce
Meeting the demands for a skilled and prepared workforce
are top priorities for education professionals.
54-69 | Kern EDC Member Directory
Photo courtesy Jennifer Johnson
5
KERN EDC
Cultivating
& Promoting
Boundless
Opportunities
for Businesses Photo courtesy Visit Bakersfield
The Kern Economic Development Corporation (Kern EDC) is a public- INCENTIVES
private partnership formed in 1988 with the mission of cultivating and Kern EDC works with businesses to identify
promoting Kern County’s boundless opportunities for business. targeted incentives and financing tools that
stimulate job growth and capital investment.
Kern County offers robust programs, including
KERN ECONOMIC DEVELOPMENT Kern EDC Services the innovative Advance Kern program, that
CORPORATION (KERN EDC) is a public-
private partnership that brings together private help companies succeed and compete in the
SITE SELECTION ASSISTANCE FOR
businesses, education, elected officials, and global economy.
NEW BUSINESSES
non-profit organizations for the purpose of a Kern County is one of the select few regions in
single goal: creating a strong and diverse economy PRIVATE/PUBLIC SECTOR SYNERGY
California that markets itself around the country. Whether we are helping facilitate Kern’s already
for Kern County. Kern EDC promotes the region
That’s because Kern County and its municipalities expedient permitting process, or advocating
to businesses looking for areas to expand or
embrace new businesses and offer fast-track on behalf of regional companies, our strong
relocate its operation, and works with existing
permitting, allowing a company to be up and relationship with the County and local cities
local businesses to ensure they have what they
running within months after inking a deal. Kern is invaluable.
need to thrive and grow here in Kern County.
EDC partners with Kern County, municipalities
and real estate professionals, to identify available RESEARCH
Since 1988, Kern EDC has helped retain, grow,
properties and buildings that meet any company's We compile labor studies, demographic data,
and attract businesses and jobs to Kern County.
requirements. economic vitality updates and other important
The economic base features one of the nation’s
leading energy providers, and it regularly ranks information needed to objectively evaluate
WORKFORCE DEVELOPMENT, Kern County as a viable option for your growing
as one of the top 2 agricultural regions in the U.S.
In addition, other industries like transportation
TALENT ATTRACTION & RETENTION businesses. Kern EDC's website and E-newsletter
Kern EDC works closely with California inform the community and interested parties
& logistics, healthcare services, and aerospace
and defense have helped create a more resilient State University Bakersfield, Kern County around the country informed about economic
local economy…just as the organization’s founders Superintendent of Schools, our three local trends and news that affects the region.
had hoped. community colleges, and private education
institutions that prepare Kern County's ECONOMIC IMPACT FACT SHEETS
workforce. We help ensure that educators Kern EDC recognized the need to produce
Advancing Employment know what existing and new businesses are “user-friendly” flyers presenting the economic
Opportunities & Economic looking for in their talent. The recently-launched impacts of Kern County’s main industries. In
Kern Initiative for Talent and Entrepreneurship
Well-being this continuing series, Kern EDC will create and
(KITE) partnership aims to aggressively update these industry specific fact sheets in
promote and develop Kern County’s burgeoning order to demonstrate the diverse nature of the
Kern EDC offers a variety of services designed
to support our mission. With local industry entrepreneurial ecosystem. local economy.
sector expertise and deep connections in Kern’s
communities, we work to ensure the region remains Kern EDC has never wavered from its mission to cultivate and promote Kern County’s
a leader in commerce and a hub for innovation. boundless opportunities for business.
6 2021 KERN COUNTY MARKET OVERVIEW & MEMBER DIRECTORYValley Strong Credit Union is a
proud supporter of the
Kern Economic Development Corporation!
valleystrong.com (800) 221-3311
Federally Insured by NCUA I Equal Opportunity LenderKERN EDF
Building
a STEM
Pipeline
Kern Economic Development Foundation
(KEDF) focuses on bridging the gap between
the business and education communities
in Kern County
MOST EXECUTIVES
LOOKING TO EXPAND
OR RELOCATE THEIR
BUSINESS have a keen
eye on a community’s
workforce and its
abilities to fill the jobs
RICHARD D. they will create. While
CHAPMAN Kern EDC focuses on
President & CEO job creation, it’s clear
that workforce development is increasingly
important.
Kern Economic Development Foundation
(KEDF) was founded more than 10 years ago
as a 501(c)3, and it focuses on bridging the
gap between the business and education
communities in Kern County. The goal is to
create a better prepared workforce for current
and future local employers, with special
emphasis on building a bigger and better
STEM (science, technology, engineering,
and mathematics) talent pipeline.
KEDF’s initiatives include programs
designed to encourage students and
adults alike to pursue STEM education and
careers. Current projects include elementary
and high school mentoring programs, the
Women in STEM initiative, and the annual
Kern County STEMposium.
9KERN EDC TEAM
Executive Committee Board of Directors
JOE ASHLEY MARY BETH
Chair DAREN GARRISON
Director, Regulatory ALEXANDER External Affairs
& External Affairs President Manager, Communities
California Resources A-C Electric & Communications
Corporation US Borax
MARY BARLOW
DANA BRENNAN
Superintendent ANDRAE
Vice Chair
of Schools GONZALES
Vice President of
Kern County City Council Member
Government & Public Affairs
Superintendent City of Bakersfield
Grimmway Farms
of Schools
ANDY STANLEY
TOM BURKE SALLY
Treasurer
Chancellor GONZALEZ
Senior Vice President,
Kern Community Mayor
Relationship Manager
College District City of McFarland
Bank of America
DENISE NEWTON
JOHN GUINN
Secretary
TILO CORTEZ Executive Vice President/
Strategic Account
Mayor Chief Operating Officer
Manager/Principal
City of Wasco Wonderful Real Estate
Pacific Gas
Development
& Electric Company
DR. DEBRA
ZACK SCRIVNER
DANIELS JOSÉ GURROLA
Supervisor,
Superintendent/ Mayor
Second District
President City of Arvin
Kern County
Taft College
CHRIS HAMILTON
MIKE MAGGARD BILL DEAVER Partner
Supervisor, Board Member Klein, DeNatale,
Third District Mojave Air Goldner, Cooper,
Kern County & Space Port Rosenlieb and
Kimball, LLP
DAVID WOMACK
BECKIE DILTZ
Immediate Past Chair JOE HAY
Owner
SVP, Area Manager- President
PROforma Solutions
Kern County Jim Burke Ford Lincoln
for Printing
Kaiser Permanente
ROB DUCHOW
ALISON
Public Affairs HICKMAN
Manager
Regional Manager
Southern California
Tangram Interiors
Gas Company
TERESA HITCHCOCK
BILL FARRIS Assistant County
Planning Administrative Officer
Commissioner Kern County Division of
City of Ridgecrest Economic & Workforce
Development
10 2021 KERN COUNTY MARKET OVERVIEW & MEMBER DIRECTORYDAVID HOWLETT AMY ROTH
Business CHUCK McGUIRE Vice President,
Development Mayor Regulatory Affairs
Braun Electric City of California City E&B Natural
Company Resources
KIM HUCKABY HUGH McMAHON
CEO Executive Vice TOM SABA
Bakersfield President, Real Estate President
Association of Tejon Ranch Saba Agency
REALTORS® Company
MIKE MOORE GERAUD SMITH
KEN KELLER
Vice President- Key President & CEO
President & CEO
Relationship Manager Valley Republic Bank
Dignity Health
Farm Credit West
TODD
RICK KREISER DAVID MORTON
SUNTRAPAK
President Managing Director
President & CEO
Carney’s Business Sullivan Petroleum
Valley Children’s
Technology Center Company
Healthcare
WAYNE KRESS SUZANNE NOBLE
Senior Director/ Director of Production SCOTT THAYER
Principal Operations Senior Vice President
Cushman & Wakefield | Western States Castle & Cooke
Pacific Commercial Petroleum
Realty Advisors Association
MARK NOVAK
ORCHEL KRIER Dean, the Division SUSAN WIGGINS
of Extended Education
Mayor Pro Tem Mayor
& Global Outreach
Taft City Council City of Tehachapi
California State
University, Bakersfield
CHEVELLE
CHRIS WILSON
KRINITT CINDY POLLARD
Senior Project
Safety Representative Public Affairs Director
Manager
Macpherson Oil Aera Energy
S.C. Anderson
Company, LLC
JEY LACEY
Economic Development CATHY PROUT The health and vitality of communities is an output of a
Consultant
Southern California
City Council Member
City of Shafter strong economy, and the Kern Economic Development
Edison Corporation is laser-focused on the attraction and
retention of businesses to continue to build and stabilize
MEGAN LOPEZ STEVE RENOCK our base.
Public Affairs President & CEO — JOE ASHLEY
Representative Valley Strong Chair
Chevron Credit Union
11KERN EDC TEAM
Sights & Scenes Staff
ALONDRA
RICHARD
SANTIAGO
CHAPMAN
Business Development
President & CEO
Photo courtesy Gilbert Vega
Coordinator
MELINDA
CHRISTINA
BROWN
MILLER
Vice President of
Administrative Specialist
Business Development
SOPHIA
GLIGOREVIC
Marketing & Member
Photo courtesy Christine Young
Relations Manager
Photo courtesy Tony Moreno
Photo courtesy The Bakersfield Californian
Cultivating and promoting
Photo courtesy Visit Bakersfield
Kern County’s boundless
opportunities for business
12 2021 KERN COUNTY MARKET OVERVIEW & MEMBER DIRECTORYFlexibility to withstand the UNEXPECTED
Rated the Best Place for Logistics in California*
*Boyd Company Logistics Study, 2015
Fully entitled lot sizes to accommodate a variety of configurations
from 10 acres to 100+
Buildings sizes from 100,000SF to over 2 million
Clear heights from 40’ to 100’
Lot sizes to accommodate 1000+ trailers and employee parking
San Francisco
10Gbps In-Place High Speed Fiber Optic (expandable to 40Gbps)
and 21kV of power located throughout the park
SHAFTER
BNSF-certified rail accessible sites California
Los Angeles
Quality labor force capable of supporting an industrial market of
more than half a billion square feet
For more information please go to
www.wonderfulindustrial park.com
Discover Distribution the Way
13Top 10 Reasons to
Do Business in Kern County
Photo courtesy Visit Bakersfield
Photo courtesy Tony Moreno
11 22 3
Photo courtesy Bakersfield CVB
Location,
Location, Location!
#2 in the Nation
for Agriculture
Production
3 #3 in Job Creation
(Surge Cities 2020)
Bakersfield was ranked #3 in job creation for
KERN COUNTY IS GEOGRAPHICALLY THE
(2019 Kern County Crop Report) attracting more entrepreneurs and providing
CENTER OF CALIFORNIA’S POPULATION,
an opportunity for businesses to stand out.
making it accessible to nearly 40 million The county leads the nation in pistachio and
consumers. almond production, with grapes, citrus, and
milk being some of the other top commodities.
Photo courtesy Kern County Museum
Photo courtesy Tony Moreno
5 6 7
Photo courtesy Michael McCloskey
5 Economic
Resiliency
(Chmura Economics & Analytics, JobsEQ)
6 #5 Housing Market
in the Nation
(RealtyHop)
7 #7 Oil-producing
County in the U.S.
(Drilling Edge)
Bakersfield MSA ranked among top 15 metro Bakersfield is ranked the fifth most affordable Kern County is the No. 7 oil-producing county
areas in the U.S. for economic resiliency during housing market in the nation. in the nation, yielding 111 million barrels of
the COVID-19 pandemic. Rankings were based oil annually. This amount represents 71% of
on news reports for key industries, unemployment California’s total oil production and a daily
claims data, job postings, and other data. production of 326,000 barrels of oil.
Kern County leads the United States in the production of pistachios, carrots, and almonds
14 2021 KERN COUNTY MARKET OVERVIEW & MEMBER DIRECTORYTOP TEN REASONS
Kern’s impressive accolades
demonstrate its stability as
an economic powerhouse
Photo courtesy Gilbert Vega
4
4 Fastest-growing
City in California
(California Department of Finance,
Demographic Research Unit)
With top rankings making national news, it’s easy to see what
Kern County is “the land of opportunity.”
Bakersfield’s population grew by 1.7% in 2019,
which was more than eight times greater than
California’s growth rate.
Photo courtesy The Bakersfield Californian
Photo courtesy Kelly Verdeck
8 9 10
Photo courtesy The Bakersfield Californian
8 #1 in the U.S.
for Engineering
Salaries
9 Kern County Jobs
Pay More than the
U.S. Average
10 #3 in Nation for
Human Capital
Availability
(Live Career) (Bureau of Labor Statistics) (WalletHub)
Kern County leads the country with a median Employees in 29 different occupations earn The Bakersfield MSA ranked #3 in the U.S.
engineering salary of $106,847. more in the Bakersfield area compared to the for human capital availability, defined as the
national average. economic value of an employee’s skill set.
Kern County ranks #1 in America for engineering salaries
15About The Mogharebi Group (TMG): The
Mogharebi Group is a brokerage firm specializing
in the multifamily property sector throughout
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an extensive global network of top real estate
investors, state of the art technology, and direct
access to capital, The Mogharebi Group is the
best choice to meet the needs of major private
investors and investment funds.
“Our focus on building sustained long-term
relationships over transactions, and quality
Retirement + Financial Planning, 401ks, over quantity is how we continue to help our
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661.847.1000 • MoneywiseGuys.com Mark Bonas Senior Vice President
8700 Stockdale Highway • Bakersfield, CA 93311
Securities offered through SCF Securities, Inc. Member FINRA/SIPC. Investment
advisory services offered through SCF Investment Advisors Inc. 155 E. Shaw Ave., Suite
MARK BONAS BAK ER SFIELD
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102, Fresno, CA 93710, Phone: 800.955.2517, Fax: 559.456.6109. SCF Securities, Inc.
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16 2021 KERN COUNTY MARKET OVERVIEW & MEMBER DIRECTORYAS A LEADER IN RETAIL, OFFICE, AND INDUSTRIAL REAL ESTATE,
WE DELIVER EXCEPTIONAL VALUE TO OUR CLIENTS.
Real Estate is a powerful asset. It helps define the business of
a company, the spirit of a startup, the values of an investor. We
provide an integrated suite of services which guide our clients
from strategy through implementation. We help our clients
put ideas into action, across industries, in the right markets,
to the right facilities, on time, within budgets, and without fail
throughout Kern County and around the globe.
What can we do for you? paccra.com
IDEAS INTO ACTION
We Create Curated
Destinations That
Empower People To
Work, Learn + Heal.
We Believe That Your Interior Environment Should Reflect the
Culture and Brand You Have Worked So Hard To Create.
Workplace | Education | Healthcare
661.397.5300 | tangraminteriors.com
17QUALITY OF PLACE
Quality
Photo courtesy Joel Favela
of Place
FROM FAMILIES TO COLLEGE STUDENTS Family, Friends, Food & Fun:
TO BUSINESS PROFESSIONALS, Kern
County has much to offer anyone looking Bakersfield is One of the Most Fun Cities in America!
for an affordable and attractive place to
live their dreams. Cultural and outdoor According to a 2019 WalletHub study, Bakersfield was ranked as one of the “Most Fun Cities
activities abound, various sports teams in America” based on three specific areas: entertainment and recreation, nightlife, and costs.
offer entertainment and housing prices The Bakersfield MSA received the highest score in the cost category.
are more reasonable than anywhere else in
California. Kern County’s combination of
large community opportunity and small- MOST FUN CITIES IN AMERICA
town appeal is just right.
Photo courtesy Philippe Lazaro
Bakersfield
1 182
(WalletHub,
September 2019)
Photo courtesy The Bakersfield Californian
Bakersfield ranks #4 in Net Business Creation —Surge Cities
18 2021 KERN COUNTY MARKET OVERVIEW & MEMBER DIRECTORYANNUAL SALARY NEEDED TO
MAINTAIN THE SAME QUALITY
AREA OF LIFE IN KERN COUNTY COST OF LIVING Stretching Your Dollar
San Francisco $110,349 84% less in Kern If you earn $60,000 and work in Kern County,
you’ll be astonished by how much further your
Oakland $88,346 47% less in Kern money will go compared to other areas in the state.
Orange County $83,327 39% less in Kern
Los Angeles $81,618 36% less in Kern
KERN COUNTY
San Diego $79,026
(Nerd Wallet, Cost of Living Index Calculator, 2020)
32% less in Kern $
60,000
MEDIAN PRICE & HOME SALES FOR EXISTING SINGLE-FAMILY HOMES (SFHs)
$350k +30%
SFH MEDIAN PRICE SFH SALES Median Price of Existing SFHs
(California Association of REALTORS,® September 2020)
$325k $292,000 +19.1% YTY +20%
+2.2% MTM +13.4% YTY +19.6% MTM -6.7% YTD YTY % Change in Sales
$300k +10%
$275k +0%
$250k -10%
$225k -20%
$200k -30%
$175k -40%
SEPTEMBER 2018 MARCH 2019 SEPTEMBER 2019 MARCH 2020 SEPTEMBER 2020
California Housing An affordable quality of life makes Kern County
Affordability an attractive place to call home.
Range
HOUSING MARKET UPDATE
Kern County is the second most
(C
affordable housing market in
ali
for
California ($292k), with Kings
nia
#3 Merced SALES ACTIVITY TIME YTY%
As
(#1 - $264k), Merced (#3
so
#5 Madera
c ia
tio
4# Fresno - $300.5k), Fresno (#4 Median Time on Market 9 days -50%
no
fR
#1 Kings - $325k) and Madera
EA
LT
O
#2 Kern (#5 - 331.12k) in the PRICE ACTIVITY KERN CA
RS
,® 2
top 5!
02
0)
Median Home Price (K) $292,000 $712,430
YTY% Change in Price +13.4% +17.6%
(California Association of REALTORS,® 2020)
Median Home
SAN Prices and
KERN FRESNO RIVERSIDE SAN DIEGO LOS ANGELES FRANCISCO Affordability
COUNTY COUNTY COUNTY COUNTY COUNTY COUNTY
REGION
$292,000 $325,000 $480,000 $735,000 $747,380 $1,665,000
MEDIAN HOME PRICE
(California Association of REALTORS,®
September 2020)
19As REALTORS®,
we’re not trying
to sell you a home…
We’re helping
you achieve
your dreams
of home Providing peace of mind in an increasingly complex world
ownership! Tax Planning and Compliance
Financial Reporting
Estate Planning
Trust Services
Employee Benefits
As Champions of Home™, leading you through negotiations Pension Plan Administration
California REALTORS® know and pricing. Outsourced Accounting
buying or selling your home is REALTORS® are people helpers Bookkeeping
about more than just closing working to help you achieve your Controllership Services
– it’s about achieving dreams. dreams of becoming a home Litigation Support
That’s why our REALTORS® owner. Talk to a REALTOR® today,
help guide you through the go to bakersfieldrealtor.com
entire process. From finding where you’ll find a REALTOR®
5001 E. Commercenter Drive, Suite 350
that up-and-coming who can help you find your Bakersfield, CA 93309
neighborhood to dream home.
661-631-1171
www.bakersfieldrealtor.com www.BHKCPAS.com
A PLACE
YOUR
BUSINESS
Quality of Life
CAN CALL
HOME
GET EVERY ADVANTAGE
• Strategically Located
• Business Friendly
• Available Land &
Facilities
• Hub for Distribution,
Manufacturing,
Commercial, Retail
• Quality Workforce
• Located near Hwy 99
• Named 100 Safest
Cities in California
FOR MORE INFORMATION, PLEASE CONTACT
Interim City Manager David Tooley
City of McFarland
401 West Kern Avenue
McFarland, California 93250
(661) 792-3091
www.McFarlandCity.org
20 2021 KERN COUNTY MARKET OVERVIEW & MEMBER DIRECTORYWe are Dignity Health
An integrated health system rooted in humankindness®
Dignity Health — Mercy & Memorial Hospitals Memorial Hospital
Mercy & Memorial Hospitals have three 420 34th Street
campuses that serve Bakersfield and its Bakersfield, CA
surrounding communities. The hospitals
provide comprehensive care—mind, body, Mercy Hospital Downtown
and spirit—and feature 24/7 emergency 2215 Truxtun Avenue
rooms, as well as a full range of award- Bakersfield, CA
winning and specialty services, some
of which include cardiac, orthopedic, Mercy Hospital Southwest
neurological, burn, and cancer care. 400 Old River Road
Bakersfield, CA
Dignity Health Medical Network
Dignity Health Medical Network
Formerly GEMCare, Dignity Health
(formerly GEMCare)
Medical Network (DHMN) now includes
4550 California Avenue, Suite 100
Independence Medical Group and
Bakersfield, CA
is comprised of more than 800 of
the area’s leading primary care and
Dignity Health Management Services
specialty physicians. The DHMN
4550 California Avenue, Suite 100
independent doctors are located
Bakersfield, CA
throughout Kern and Tulare counties
and offer a wide range of services.
Dignity Health Management Services
Dignity Health Management Services
(DHMSO) offers high quality, full-service
administrative and clinical support to
organizations responsible for providing
medical care through health plan
agreements or health benefit programs.
dignityhealth.org/bakersfield
DHMSO provides these services to
hospitals, independent physician
networks, medical groups and employers.BY THE NUMBERS
Photo courtesy Steve Rengers
Kern by the
Numbers
In 2019, Kern's Gross Domestic KERN COUNTY’S GDP 5-YEAR UNEMPLOYMENT RATE IN KERN
Product reached $51.4 billion, 15%
$
51.4B
according to data collected by
12.5%
the Bureau of Economic Analysis 10.4%
10.2%
GDP
10% 9.2%
7
# #
KERN GROWTH IN EMPLOYMENT (2012-22) 7%
7.5% 6.6%
17)
, 20 5%
nt Metro in CA
e
rtm
ep a
60
Construction (2,400)
# #
2.5%
nt D
yment Developme
0%
Wholesale Trade (1,500) Metro in U.S. 2015 2016 2017 2018 2019
(State of California Employment Development Department)
Financial Activities (1,400)
m p lo
KERN COUNTY LABOR STATISTICS
ia, E
Other Services (1,100)
n
fo r
ali C
of
a te
(S t Mining & Logging (200) Labor Force 381,800 Unemployed 35,600
Information (200)
■ Transportation, ■ Leisure & Hospitality Employed 346,300 Unemployment Rate 9.3%
Warehousing & (4,900)
Utilities (State of California, Employment Development Department, 2019 average)
(2,900) ■ Professional &
■ Manufacturing Business Services AVERAGE WEEKLY WAGES BY COUNTY
(3,000) (6,800)
■ Retail Trade
(3,400) ■ Educational Services, San Luis
Obispo Kern
■ Government Healthcare & Social
$974 $968
(4,500) Assistance (8,900)
San
Santa Bernardino
Barbara
Industry Projections $1,068
$965
San
ACCORDING TO THE STATE OF CALIFORNIA Francisco Fresno
$2,772 $879
EMPLOYMENT DEVELOPMENT DEPARTMENT,
industry employment in Kern County is projected Riverside
$935
to reach 391,800 by 2024, an increase of 16.1% Santa
over the next ten years. Total non-farm employment Cruz
$1,104 San (Bureau of Labor Statistics,
is projected to grow by more than 41,200 jobs Diego 2020 Q1)
by 2024. $1,315
22 2021 KERN COUNTY MARKET OVERVIEW & MEMBER DIRECTORYTOP SAN JOAQUIN VALLEY GDPs KERN EMPLOYMENT BY AGE
COUNTY GDP ($B) 16–19 3.1%
Kern $51.4 TOP TAXPAYERS (ROUNDED IN M)
20–24 11.5%
Fresno $46.0
25–34 26.0%
San Joaquin $30.5 CA Resources Chevron
Corporation USA
Stanislaus $23.7 35–44 21.8%
(U.S. Bureau of Economic Analysis, 2019)
$3,927,332 $1,645,437 VALUE
$45,234 $17,848 TAXES
Tulare $19.4 45–54 19.7%
Merced $10.4
55–64 14.1%
Madera $6.7
65+ 3.8%
Southern Pacific
King $6.6
(JobsEQ,® 2020 Q2)
California Edison Gas & Electric
$1,190,651 $1,154,397 VALUE
COUNTY ANNUAL AVERAGE EMPLOYMENT BY INDUSTRY $20,162 $19,544 TAXES
80,000
TOTAL: 337,600
Professional & Business 8%
70,000
Leisure & Hospitality 8%
60,000
2,000
U.S. Sentinel
50,000 Borax Peak Resources
Trade, Transport & Utilities 16%
7,500
AVERAGE ANNUAL EMPLOYMENT
$820,262 $772,059
Mining & Logging 3%
Financial Activities 2%
Construction 5%
VALUE
Manufacturing 4%
40,000 $9,428 $8,264 TAXES
8,300
Other Services 2%
Education & Health 12%
30,000
9,500
Government 20%
Information 1%
Agriculture 19%
20,000
12,800
10,000
16,300 Berry The Wonderful
Corporation Company
0 27,500
AVERAGE $711,855 $521,635 VALUE
16,300
40,700
2,000
7,500
8,300
9,500
12,800
27,500
28,600
52,600
63,900
67,700
ANNUAL $8,096 $5,783 TAXES
28,600
EMPLOYMENT
(State of California, Employment Development Department, 2020) (County of Kern, Tax Rates & Assessed Valuations, 2020-2021)
40,700
COST OF LIVING IN KERN COUNTY
200 52,600
196.6
CA Cities U.S. Base 63,900
175
145.9 67,700
150 141.3
125 117.9
110
100
75
San Francisco
50
Kern County
Sacramento
Los Angeles
San Diego
25
0
(COLI.org, 2019 Average)
23BY THE NUMBERS
TOTAL PAYROLL BY INDUSTRY IN KERN COUNTY
INDUSTRY TOTAL PAYROLL
Administrative & Support and Waste Management $41,707,107
Agriculture, Forestry, Fishing and Hunting $3,913,088
Arts, Entertainment, and Recreation $5,696,490
Photo courtesy Cafe Smitten
Construction $34,873,848
Educational Services $8,132,394
Finance and Insurance $13,993,028
Health Care and Social Assistance $96,034,153
Information $13,167,369
Manufacturing $145,942,091
Photo courtesy David Seibold
Mining $82,474,218
Prof., Scientific, and Technical Services $201,363,910
Real Estate and Rental and Leasing $18,857,156
Retail Trade $75,300,674
Transportation and Warehousing $162,088,689
Utilities $28,736,962
Wholesale Trade $20,136,827
Photo courtesy Mercy Hospital Southwest
(State of California, Employment Development Department, 2018)
Total non-farm employment in Kern County
is projected to grow by more than 41,200 jobs
by 2024. Photo courtesy Michael McCloskey
5-YEAR TOP INDUSTRY COUNTY ASSESSMENT VALUES COMPARISON (ROUNDED IN M)
INDUSTRY 2020 2019 2018 2017 2016
(Kern County Assessor’s Office)
Oil & Gas $14,890,428 $16,139,190 $15,654,943 $15,229,670 $12,794,110
Agriculture $8,924,016 $8,479,317 $8,067,613 $7,754,323 $7,288,567
Renewables $4,948,941 $4,876,471 $4,839,302 $4,770,189 $4,659,035
Healthcare $2,358,155 $2,239,568 $2,160,521 $2,067,028 $2,020,153
24 2021 KERN COUNTY MARKET OVERVIEW & MEMBER DIRECTORYCONNECTION
RECRUITING ASSISTANCE ON-THE-JOB TRAINING PROGRAM
Job posting, applicant screening, interview Train your new employees while “On-the-Job”
scheduling and on-site facilities for large and we will help cover your training costs
recruitments available
NO-COST • SHORT TERM LABOR WORK-READY JOB APPLICANTS
Become a “Work Experience” site and Talented, experienced and motivated
train our workforce in new skills before candidates ready to add value to your
adding them to a payroll business and workforce
BUSINESS SOLUTIONS
For more information call:
(661) 325-HIRE
Offering strategies to maintain your
business through economic challenges
www.americasjobcenterofkern.com
The AJCC & WIOA are an equal opportunity employer/program. Auxiliary aids and services are available upon request to individuals with disabilities.
25COMMUNITY PROFILE & DEMOGRAPHICS
Community
Photo courtesy Tony Moreno
Profile
BAKERSFIELD IS THE 9TH LARGEST
THERE ARE 11 INCORPORATED CITIES IN BAKERSFIELD IS THE 9TH LARGEST CITY IN CALIFORNIA
CITY IN CALIFORNIA
KERN COUNTY, plus 48 unincorporated census
designated places (CDPs). Bakersfield, the x3
Age & Gender
county seat, is home to 43% of Kern County’s 1. Los Angeles (4,010,684) Distribution in Kern
population. Kern County’s population is
expected to reach nearly 1.5 million by 2060.
2. San Diego (1,430,489)
75+
POPULATION SIZE 3. San Jose (1,049,187) 65-74 (4.1%)
(6.3%)
392,756
4. San Francisco (897,806)COMMUNITY POPULATION GROWTH FORECAST
ESTIMATE FORECAST FORECAST FORECAST AVERAGE
COMMUNITY 1/1/2020 2021 2030 2040 ANNUAL RATE INCREASE
Kern County 917,553 929,787 1,067,631 1,213,558 1.27% 11,184
Arvin 21,677 23,800 29,300 36,000 1.70% 363
Bakersfield 392,756 443,500 566,000 719,500 1.43% 5,520
California City 14,161 17,300 21,300 26,100 0.46% 2,234
Delano 53,032 60,100 68,100 77,300 1.12% 8,985
Maricopa 1,127 1,170 1,190 1,210 0.45% 5
McFarland 14,388 14,600 16,800 19,300 0.77% 920
Ridgecrest 29,350 30,500 33,600 37,600 0.97% 986
Shafter 20,441 23,700 33,100 47,300 3.17% 1,174
Taft 8,680 10,900 12,800 15,300 0.32% 1,857
Tehachapi 12,758 16,000 17,800 20,100 0.94% 3,778
Wasco 28,884 31,200 38,100 47,500 5.45% 6,071
Unincorporated 320,299 338,030 370,110 396,890 0.75% 5,063
(Estimates from State of California, Department of Finance. Projections compiled by Kern EDC)
MEDIAN AGE IN KERN COUNTY, CALIFORNIA, AND THE UNITED STATES The Department of Finance predicts that the
Bakersfield MSA will be the fastest growing
among major metropolitan regions, projected to grow
by 111% to 1.8 million in 2060.
36.3 California
37.9
United States Photo courtesy Jamie Hunter
31.5
Kern County
(JobsEQ,® 2020)
Kern Ranks #3 for Most
Diversified Economy
The Bakersfield MSA ranks third among large U.S. metros
for most diversified economies, with a mix of industry
The metro of Bakersfield is approximately 151 square miles clusters that includes oil and gas, aerospace and defense,
and Kern County is over 8,100 square miles! agriculture, and healthcare.
(California’s Central Valley, September 2020)
27FROM APPLICATION TO OCCUPANCY
DEVELOPMENT SERVICES IS HERE TO HELP
Experience makes all the difference!
We answer the phone, respond to emails, ready to
facilitate YOUR success. Always exemplary service!
For more information contact us today:
Development Services Department
“Building Something Better in Bakersfield”
Planning | Building | Code Enforcement
(661) 326-3733 | www.bakersfieldcity.us/ds
SHAFTER
RAIL
TERMINAL
Connecting imports and exports
for efficient freight
transportation solutions.
Benefitting the economy and the
environment in the Valley
NOW AVAILABLE
CONTACT BOB MEADOWS
(661) 746 - 5000 BMEADOWS@SHAFTER.COM
28 2021 KERN COUNTY MARKET OVERVIEW & MEMBER DIRECTORYTHE SOUND OF THE SOUND OF THE SOUND OF
Adventure Entertainment Thrills
VISIT
.COM
HOW WE WORK FOR OUR MEMBERS - 100 YEARS & COUNTING!
Trusted Advocacy Members-Only Benefits
We fight job-killing legislation Includes referrals, marketing opportunities,
and work hard to maintain a favorable certificates of origin member special member
business climate in Bakersfield pricing, listing in our online directory,
and Kern County. ribbon cuttings and more.
Compliance Lasting Connections
We provide the tools, resources and Bridge the gap between nonprofits,
access to keep members in the know small businesses and large corporations
about California’s always-changing laws with mixers, events and
and latest HR topics. our Ambassador Committee.
1725 Eye Street • Bakersfield, CA 93301 • Phone 661-327-4421 • www.bakochamber.com
29BUSINESS ADVANTAGE
Kern’s Business
Photo courtesy Tony Moreno
Advantage
KERN COUNTY’S CENTRALIZED LOCATION is hard to beat Astounding Market Access
when it comes to reaching West Coast destinations. Combine
Kern’s location with its reputation as one of the least congested Access to 14% of the United States population
regions in the U.S., and the road ahead is a painless one! within 300 miles!
U.S. DRIVE TIME FROM KERN COUNTY CALIFORNIA DRIVE TIME FROM KERN COUNTY
Vancouver
PORT OF SEATTLE 101
PORT OF TACOMA Seattle
CANADA
OAKLAND
WA
Spokane AIRPORT
4H
PORT OF PORTLAND Portland
90
15
ND
San Francisco O
MT PORTS OF
UR
SAN FRANCISCO Modesto
AND OAKLAND 680
Eugene Bismarck Fargo Duluth 280
82 94
OR Butte SAN FRANCISCO
AIRPORT
San Jose
99
ID
24 H
SD
OUR
395 Santa Cruz Fresno
18 H
90
WI
OU
CA Pocatello Sioux Falls
R-2
101 WY R R
5
DAY
IA
5 25
NV Chicago
12 H
Salt Lake City 43
Cheyenne Des Moines
OUR
80 Omaha
San Francisco Sacramento 80 MEADOWS FIELD
10 H
Reno KERN CO.
NE
OUR
178
PORTS OF 15 AIRPORT
-1
SAN FRANCISCO 99
DAY
AND OAKLAND Fresno Denver Kansas City Shafter
6H
70 Topeka Bakersfield
OUR
70
5 58 15
San Jose
Las Vegas UT CO Wichita St.
St. Louis Barstow
Colorado KS 58
2HO
Springs Springfield
UR
101
MO 101
58 Barstow 25 LEGEND Victorville 40
Flagstaff 44
Los
40
San Bernardino Memphis Angeles
Los Angeles Amarillo PARAMOUNT
PORTS OF LOS ANGELES
1
17
Albuquerque
40
Oklahoma 40 AR LOGISTICS PARK 1 Riverside
San Diego 10 Phoenix 91
AND LONG BEACH City OK
PORT OF SAN DIEGO 8 AZ 35
BSNF
Little RAILROAD
Rock 710
LOS ANGELES AIRPORT
Tucson 10
NM 30
UNION PACIFIC RAILROAD Irvine Palm 10
LEGEND PORTS OF LOS ANGELES Springs
El Paso 20
Dallas ROADS
AND LONG BEACH
SAN DIEGO
PARAMOUNT TX LA DRIVE TIME AIRPORT
LOGISTICS PARK New
10
Houston Orleans
ROADS N San Antonio
N San Diego
DRIVE TIME
MEXICO Laredo
10
Galveston
PORT OF SAN DIEGO
Roads Drive Time BSNF Railroad Union Pacific Railroad Roads Drive Time
30 2021 KERN COUNTY MARKET OVERVIEW & MEMBER DIRECTORYBrokerage Houses That
4:15
Specialize in Business
Los Angeles 2:00 Sacramento 4:30 San Francisco ASU COMMERCIAL
asucommercial.com
COLLIERS INTERNATIONAL
colliers.com/en-us/bakersfield
CUSHMAN & WAKEFIELD | PACIFIC
COMMERCIAL REALTY ADVISORS
Fresno 1:45 AVERAGE DRIVE TIME 5:45 San Diego paccra.com
FROM BAKERSFIELD
OLIVIERI COMMERCIAL GROUP
(IN HOURS) oliviericommercial.com
Photo courtesy Tony Moreno
Photo courtesy Joel Favela
Photo courtesy Navdeep Singh
Photo courtesy Steve Rengers
Photo courtesy The Bakersfield Californian
Strategic Location
■ California’s population center Available
■ Access to 14% of the U.S. population, Land & Facilities
within 300-mile radius
■ More than 40 million consumers within Kern County ■ Single-digit vacancy rate
■ Cost-competitive commercial real estate
4-hour truck drive
■ Proximity to world’s 5th largest economy Business ■ Class 1 rail from Union Pacific and BNSF
■ Inland port helps lower drayage costs
■ Access: Interstate 5, Highway 99 North &
Advantage ■ ShortLine SJVR
South, Highway 46 West to Central Coast, Quality, Affordable
and Highway 58 East to Interstate 15
Workforce
Business-friendly ■ Low employee turnover rates
■ Lowest operating costs in Western U.S.
■ Short permit and plan check, typically
■ Employees enjoy the best wage-to-living
measured in weeks and months, not Short permit and plan check, standard ratio of any major logistics hub
years
■ Job training and job search assistance
typically measured in weeks and in the Western 13
provided by Kern County months, not years
31BUSINESS ADVANTAGE
■ 80-acre LEED Campus (pursuing)
development for general and medical
office, commercial, and retail
■ Phase I construction complete with build-
to-suit availability
■ For sale or lease
■ Available space from 2,000 SF
■ Home to Cubbies Pizza, State Farm, Sola
Salon Suites, Riar Dental Arts, and Singh
crossroadsbusinesspark.com
Family Urgent Care
Young St.
■ 180-acre park with design flexibility
■ Premium concrete tilt-up construction
warehouses with yards
■ For lease, sale or build-to-suit
■ Buildings currently available
■ Parcels range from 1-12 acres
■ 1,625-acre master-planned industrial park
■ In-place infrastructure, shovel-ready sites wonderfulrealestateco.com/content/dam/websites/wonderful-real-estate/North_Meadows.pdf
■ By-right entitlements for 26M SF of
development
■ Park offers maximum flexibility with
land that is not constrained and offers
tenants the unique ability to design a
building of substantial size and clear
height without sacrificing exterior space
for excess parking or storage
■ BNSF rail-served sites for up to 2M SF
■ Direct access to the only functioning
inland port in the Western U.S.
■ High-speed fiber optics network that
supports 10Gbps
■ As one of the largest employers in
the Central Valley, Wonderful offers
unparalleled access to the area’s
abundant and high-quality workforce
wonderfulindustrialpark.com
32 2021 KERN COUNTY MARKET OVERVIEW & MEMBER DIRECTORYTEJON RANCH 1,450 ACRE
COMMERCE CENTER MASTER PLAN
www. Te j on C om m e rc e . c om
þ
}
|
· 99
TEJON RANCH
San t a
M ercedes Dr.
"
$
!
# 5
1 COMMERCE CENTER
• 1,450-acre master planned business park
permitted for 20 MM SF - with ±6 MM SF
6 2A 2B already built
• Industrial and Retail opportunities available
Santa Regina Drive • Significant Kern County tax incentives available
3A 3B for employment creation
7
Wheeler Ridge Ro
Denn
3C
Industrial Opportunities
is Mc
4A
Carth
• Sites to accommodate 20,000 SF to 2MM SF
4B • Dual Port access (LA/Long Beach & Oakland)
y Driv
• Foreign Trade Zone #276
ad
Santa Elena Drive
• 631K SF building being designed for 2021
e
Fire availability
Station #55
23
Not a Part Retail Opportunities
24
• Outlets at Tejon with 50+ stores and food
La
va offerings
• Retail pads ranging from commercial/F&B
lR
Ou
17A
tl
et
oa
outparcels, inline stores to destination
s
d
at
17B Bob Stine Dr. retail sites available
Te
jo
n Pk
• Traffic on I-5 of 100K cars per day with 18K
w y.
exiting at Laval Road each day
(Tejon Ranch Commerce Center)
"
!
$
#5 Laval Road East
Laval Road West
27 A-D 12 13
e
Tejon Industrial Driv
San
t
18 & 19 a Is
abe
l Dr
14A .
18 & 19
14B
De
Indu
lO
stria
l Park
ro
way
15
Dr
Dr ive
ive
Artist rendering of 631,680 SF industrial building planned for Lot 7
San
t aM
agd
alen
a Driv
e
TRCC 16
WEST
TRCC
EAST I
Feet
0 250 500 1,000 1,500
Legend
Available Industrial Site Available Commercial Site Existing Road Future Road
Conceptual plan for preliminary planning purposes only. This plan is subject to change and the owner reserves the right to make design or layout changes at any time.
33BUSINESS ADVANTAGE
Business Incentives
BUSINESSES LOOKING TO RELOCATE OR EXPAND in Kern County can find a wide variety of incentives available. Kern Economic Development
Corporation can direct businesses to select federal, state and local economic incentives available to attract new jobs, investment and development.
advancekern.com
Kern County Business California Incentives Foreign Trade Zone 276
Recruitment & Job Growth
■ California Competes Tax Credit ■ Tejon Ranch Commerce Center
Incentive Program Criteria includes number of jobs to be created
ENHANCEMENTS TO THE COUNTY’S INCENTIVE
or retained, extent of property in business
Recycling Market
development area, minimum compensation
PROGRAM INCLUDE: limitation, and set job retention period Development Zone
■ The County eliminates all caps and special
■ New Employment Credit
terms on potential sales tax, use tax, and ■ Low interest loans and assistance for
Between August 2014 ‒ January 2026
property tax rebates, and adds transient manufacturers using recycled materials
occupancy tax rebates, setting the stage ■ Research & Development Tax Credit
Reduces income or franchise tax
for opportunities for more meaningful,
Workforce
robust and competitive incentive packages ■ Sales & Use Tax Exemption for Agriculture
in pursuit of impactful business investment Tax exemption for the sale, storage, use, or ■ Employment Training Panel (ETP)
■ The County’s incentive agreements other consumption of farm equipment, and Funds offsetting cost of training
prioritize sustained, full-time job creation, machinery
■ America’s Job Center Workforce
in addition to capital investment, at better- ■ Sales & Use Tax Exemption Investment Act (WIA)
than-living wage rate for Kern County for Manufacturing Free assistance, customized recruitment
■ The County has also expanded the list Tax exemption of 3.9375% for basic plans, positions advertising, qualifying
of targeted industry clusters for these manufacturing equipment applicants and hiring
incentives, to include: e-commerce, general
manufacturing and destination retail
■ The initiative provides for maximum Photo courtesy Visit Bakersfield
flexibility in pursuing opportunities with
performance-based incentives requiring
quantitative thresholds, tested for
accountability
Photo courtesy The Bakersfield Californian
■ New business ventures are reviewed on a
case-by-case basis for overall net benefit
and value added, with incentives tailored to
meet County objectives Contact Kern EDC for
additional incentive program
details or application forms
34 2021 KERN COUNTY MARKET OVERVIEW & MEMBER DIRECTORY(Wayne Kress/Cushman & Wakefield |
MARKETBEAT
Pacific Commercial Realty Advisors)
Bakersfield Industrial Snapshot
Year-End 2019
Economy transactions (184 in 2018) for an average size of 22,919sf (v.
The U.S. economy continued stable performance throughout 14,972sf in 2018). 1.04 million sf sold in 2019 (863,000sf in
2019: GDP grew 2.1%, Unemployment declined to 3.5%, 2018), comprised of 35 transactions (53 in 2018), averaging
and inflation held at a low 2.3%. The Fed Funds Rate was 29,714sf (21,047sf in 2018).
lowered three times throughout the year, opening at 2.5%
and ending at 1.75%. Borrowing costs are now the lowest Outlook
in memory. The current challenge? Finding labor. Job Cushman & Wakefield Pacific expects steady performance in
openings exceeded available labor throughout the year. 2020, governed by supply. We open 2020 with an identical
Projections call for continued stability in 2020. number of requirements as we did in 2019.
Bakersfield’s metro population as of the end of 2019 was The continued strong national and local economies will
estimated to be 548,500—1.1% higher than a year earlier be reflected in the Bakersfield market with continued
(a slight acceleration) compared to growth rate of .56% new investment and growth in logistics, wholesaling,
in California (a slight deceleration) and 0.5% in the U.S. (a construction, and renewable energy; but our twin economic
faster deceleration). Bakersfield is now the 53rd largest city power houses—ag and oil—are both under pressure, ag from
in America. California’s water problems (though Kern County was again
the top producing county in America in 2019) and oil from
Bakersfield’s unemployment rate as of the end of December political persecution (though we continue to fulfill 70% of
2019 was 7.4%, down slightly from year-end 2018. The California’s demand for oil and gas).
greater Kern County 2019 year-end unemployment rate was
6.0%, down significantly from 7.6% in 2018 and 9.2% in 2017. STATS ON THE GO
Y-o-Y 12 month
Market Overview Q4 2018 Q4 2019 Change Forecast
Supply of available space remained tight throughout 2019. Overall Vacancy 3.2% 2.6% -.06
Vacancy declined ever further in 2019, to 2.6%, down from
3.1% at year-end 2018 and 5.5% in 2017. Average achieved Overall Rents $0.54 $0.41 -14.0
rents declined to $0.41 (gross) from $0.54 psf in 2018—as Overal Sales Prices $84.28 $62.30 -21.98
average deal sizes increased to 22,433sf in 2019 from 14,952
in 2018. Average achieved sale prices declined, to $62.30 ABSORPTION VS. VACANCY RATES
psf from $83.33 in 2018 as the average deal size increased to
29,649sf in 2019 from 25,639sf in 2018.
224 sale and lease transactions were completed in 2019,
about the same as the 225 in 2018, but higher than the
208 in 2017 and 175 in 2016. New construction has not
kept up with demand; hence, the lower vacancy rate. Two
new business parks started construction in 2018 and were
delivered in 2019—Landings Logistics Center (138 acres) and
Silver Wings Commerce Center (94 acres) straddling Merle
Haggard Drive adjacent to Meadows Field Airport. Amazon
completed 2.6 million sf fulfillment center that anchors the
Landings project, and Hadco Metals completed a 250,000sf
distribution center in the Silver Wings project in 2019
(Cushman represented each).
Our two main logistics parks—Wonderful Industrial Park OVERALL OCCUPIER ABSORPTION
(1,780 acres) and Tejon Ranch Commerce Center (1,400 acres)
were both active with new construction in 2019. Wonderful
completed construction of a 1.0 million sf spec building.
Walmart also continued construction on a 700,000sf cold
storage facility that will be placed into service in 2020.
Majestic Realty completed a 480,000sf spec warehouse in
2018 (leased within 6 mos) and completed a 579,000sf spec
warehouse in 2019.
There are now some 52 DC’s or FC’s operating in the greater
Bakersfield market. Other logistics users canvased the
market in 2019 for availability, which should lead to more
announcements in 2020.
Overall, the market absorbed 4.24 million sf of leased space
in 2019 (up from 2.75 million sf in 2018), spread over 185
Cushman & Wakefield | Pacific For more information, contact: Copyright © 2020 Cushman & Wakefield. All
5060 California Avenue, Suite 1000 Wayne Kress, Senior Director/Principal Coby Vance, Director Scott Reynolds, Associate Director rights reserved. The information contained
Bakersfield, CA 93309 Tel: +1 661 633 3819 Tel: +1 661 633 3807 Tel: +1 661 633 3825 within this report is gathered from multiple
sources considered to be reliable. The
paccra.com wayne.kress@paccra.com coby.vance@paccra.com scott.reynolds@paccra.com information may contain errors or omissions
CA Lic. #01919464 CA Lic. #00834680 CA Lic. #01449929 CA Lic. #01382493 and is presented without any warranty or
representations as to its accuracy.
Independently Owned and Operated / A Member of the Cushman & Wakefield AllianceTARGET INDUSTRIES
Kern’s Top
Photo courtesy Steve Rengers
Five Target
Industries
TARGET INDUSTRIES ARE GROUPS OR CLUSTERS OF RELATED BUSINESSES which export products and services from the county, bringing
in new net revenue. Kern County’s Economic Development Strategy outlines six industry clusters of focus. The County Administrative Office
promotes the $1.6 billion Tourism, Recreation, and Entertainment cluster, while Kern Economic Development Corporation recruits and works
to retain and expand businesses in the other five:
Aerospace & Defense Energy & Natural Resources Healthcare Services
The Spaceship Company, Naval Air Weapons With national rankings for both traditional energy Always two steps ahead, Kern County’s
Station, China Lake, Virgin Galactic, Edwards (oil and gas) and renewables (wind and solar), growing number of healthcare providers are
Air Force Base, and the Mojave Air and Space Kern County is the leading energy provider for investing in cutting-edge technology and
Port are just a few of the globally recognized the state of California and is connected to the offering the latest treatment options. With
names in aerospace and defense. Kern County strongest players in the global energy industry. over 900,000 residents living in Kern, and
is at the heart of California’s military and Additionally, Kern County also leads as a producer over 390,000 in Bakersfield alone, demand
defense presence and the industry contributes of natural gas, hydro-electric power, geothermal, for highly skilled and innovative healthcare
significantly to the state’s economy and and is noted for its mineral wealth, including gold, facilities and personnel continues to
workforce. borate, and kernite. increase.
Transportation, Logistics Value-Added Agriculture
& Advanced Manufacturing
From grapes to livestock, Kern County’s
agriculture products feed communities around
Kern County’s transportation, logistics and
the world and strengthen the local, state, and
advanced manufacturing industry is strongly
national economy. As the No. 2 producer of
united with oil and agriculture, which continue to
goods in the nation, the agriculture industry
be the region’s strongest assets. Workers within
generates a fifth of the county’s gross domestic
these industries offer a transferability of skill
product and employs up to 20 percent of its
Photo courtesy Gilbert Vega
sets. With ideal geographic location in California,
workforce.
the area is home to over 50 major distribution
centers such as Amazon, Caterpillar, Famous
Footwear, IKEA, L’Oréal, Nestlé, Ross, Target, Kern County powers, feeds, and
Walmart, and many more. defends the world
36 2021 KERN COUNTY MARKET OVERVIEW & MEMBER DIRECTORYYou can also read
