Secret of our success

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREBasketball roundup: Sierra Canyon, Birmingham set to face off in tournament quarterfinals160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! The stock market is plunging. Gas prices keep rising. Inflation, too, is flaring up. Houses are sitting on the market longer, and the Index of Leading Economic Indicators, that old harbinger of economic doom and gloom, is behaving ominously. But despite all this scary news emanating from Wall Street and elsewhere, things are still looking rather bright for the San Fernando Valley’s economy for the next few years. Other parts of the nation may be struggling with job loss, but the Valley is projected to add more than 10,700 new jobs this year and 12,300 next year. Average wages and salaries for all private-sector employees should grow by 4 percent to 5 percent annually. So says a new study out Friday by the San Fernando Valley Economic Research Center at California State University, Northridge. The author of the report forecasts “strong and sustainable” growth up until 2008. After a week of bad financial news, it was nice to end on a high note. More jobs, bigger paychecks all spell some measure of stability in a world rocked by war, unrest and possible pandemics. None of this would be possible without the hard work by the Economic Alliance of the San Fernando Valley, which tirelessly promotes the area’s business in its quest to protect one of California’s last bastions of the middle class. And therein lies the ultimate secret of the Valley’s success. Rather than being rooted in one industry, like the Silicon Valley, or populated by socially, economically and ethnically homogenous neighbors, like many wealthier cities, the Valley’s got a healthy diversity of people and businesses that fosters growth. That’s why it’s incumbent upon the community to continue to push its interests to an often uninterested city at large. Clearly, that’s the right approach. Projected growth in the face of national economic jitters indicates something very right is going on in the San Fernando Valley and it’s important for the community’s people and businesses to work together to preserve this healthy climate that benefits everyone.last_img

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