“Roseville’s future is very bright. I wouldn’t have come here otherwise,” said Roseville City Manager Ray Kerrridge who was recently recruited from Sacramento. “And to our credit, we haven’t stopped planning for that future. Roseville is poised for even g
Roseville, CA (PRWEB) September 29, 2010
Many retailers and shopping centers have faced challenging times in the midst of the recession, but for some areas of the country, the light has begun to appear at the end of the tunnel. California has been hit especially hard by the economy, yet certain retail strongholds are starting to rebound. The City of Roseville and South Placer County, California is poised especially well to ride out and grow despite the recession according to recent reports about its growth as a fastest-growing city and U.S. wealth center.
Roseville’s growth since 2003 has continued at a higher rate than the overall Sacramento region, the Bay Area and California as a whole, according to data from Placer County’s Economic and Demographic Profile 2010. The profile states that, “There were over 10,800 business establishments in 2008 in Placer County—a number which has increased almost 20 percent since 2003 and is nearly 14 percent of total establishments in the Sacramento Region. Placer County’s establishment growth is higher than all of the comparison areas: the Sacramento Region (18 percent); the Bay Area (just over 12 percent); and California (almost 15 percent).”
Placer County is expected to continue on a track for more growth over the next three years. The Placer County profile states that, “It is projected that Placer County’s taxable sales will increase almost 26 percent from 2008 to 2013, reaching total taxable sales of just over $11.2 billion in 2013. The County’s projected growth rate through 2013 is similar to the Bay Area, above the Sacramento Region (around 24 percent), and below California (about 31 percent).”
According to Dave Snyder in the Placer County Office of Economic Development, “Placer County has been a retail stronghold over the past decade, even with the economic downturn. We are encouraged by these projections and we hope that Placer County can provide strong economic growth that will help lead the way to economic recovery in California.”
Roseville, CA was recently recognized for two areas of growth in 2010, thus bucking the downward trend in the current state of the economy. According to a July 4, 2010 article in The Sacramento Bee by Jim Wasserman, “The super-suburb of Roseville has powered through the recession, emerging as one of the state's fastest-growing cities while other former boomtowns sit fallow.” On July 7, Diana Lambert of The Sacramento Bee reported that, “Roseville had nearly 300 housing starts in the first three months of 2010, making it one of California's fastest-growing cities with 100,000 or more residents, according to the state Department of Finance.”
Wasserman went on to report that, “Some analysts say Roseville's twin attractions – perceived high quality of life and plenty of developable land – mirror home-building hot spots such as Dublin in the Bay Area and Irvine in Southern California.” The article also reported that “the 115,000-population city's 2.6 percent growth rate(matched only by Victorville in Southern California) has made Roseville home to more than a third of new homes sold this year across the Sacramento region.”
One of the top attractions to those looking to relocate to Roseville is the excellent schools. According to The Sacramento Bee, the Roseville City School District is experiencing growth it hasn’t seen in a decade and states, “The district is partly to blame for the area's popularity. Its overall API score last year was 860, which is one of the highest in the region.”
In February 2010, American City Business Journal’s also recognized Roseville, CA as one of the nation’s Top 100 Wealth Centers. “Roseville, with a median household income of $76,039 per year and 4.9 percent of families earning $200,000-plus, finished at No. 74 — ahead of Napa (No. 78), Ventura (No. 80) and Santa Rosa (No. 96).” Roseville is holding its own in this economy ahead of well known powerhouse cities for wealth like Napa and Ventura.
“Roseville’s future is very bright. I wouldn’t have come here otherwise,” said Roseville City Manager Ray Kerrridge who was recently recruited from Sacramento. “And to our credit, we haven’t stopped planning for that future. Roseville is poised for even greater things, and a population of 200,000 residents is not that far away. Part of staying ahead of that is making sure everyone knows we’re open for business.”
It’s no surprise that Roseville, CA would be a magnet for retail and restaurant sales, it’s consistently been recognized as one of the top retail cities in California and houses two of the largest shopping attractions in the region: Westfield Galleria Mall and the Fountains at Roseville lifestyle center. The City of Roseville reports that it has the 13th highest total retail sales of all cities in California, with annual retail sales just under $3 billion dollars. Only two cities of comparable population are ahead of Roseville (pop. 115,781) on retail sales, #11 Costa Mesa (pop. 116,479) and #9 Ontario (pop. 173,188). All of the other cities have populations exceeding 300,000. The strongest growth has been in the apparel, home furnishings/appliances, and restaurants & bars sectors. Roseville has more than twice the amount of retail sales per household, an average of $63,231 versus $27,051 per home statewide.
“Roseville continues to be a center for commerce as evidenced by our increase in sales tax income year over year in Q1 of 4.5%,” said Wendy Gerig, CEO of the Roseville Chamber of Commerce. “The projections only mirror that continued growth with new businesses and existing retailers to start growing again.”
The major retail hub of Roseville is near the intersection of Galleria and Roseville Parkway, where each corner holds major retail establishments that generate millions for Roseville sales tax revenue each year. Westfield Galleria is the largest, next is Creekside Town Center and the Fountains at Roseville.
Fountains at Roseville, an outdoor lifestyle center with unmatched amenities in the greater Sacramento region, opened two years ago in June of 2008 to an occupancy rate of over 80 percent. As of 2010, that occupancy rate is now at 90% with leasing activity continuing. “Year over year, sales at Fountains at Roseville have increased 15% in the first two quarters of 2010,” explained Gloria Wright, Fountains at Roseville general manager. Fountains at Roseville has brought unique brands to Roseville such as: Anthropologie, Sur La Table, Orvis, Chico’s, McCormick & Schmick’s, CPK, Whole Foods, SWAK.
Fountains at Roseville has established itself as a destination for local residents to “Eat, Shop and Play” with the opening of several new stores and restaurants in 2009 and 2010 combined with unique retailers not found in the entire Sacramento and the return of its popular free summer entertainment series. This is the third year of the summer entertainment series and attendance has increased more than 30% over 2009 with attendance expected to exceed 20,000. “We wanted to create a sense of community as a gathering place for the public throughout the seasons,” added Wright. “We’ve been grateful for the support we’ve received from the community and for the tremendous involvement we have with our retailers to help build on that goal with a collective vision.”
Fountains at Roseville has 46 retailers of which eight are restaurants. “Restaurants are a critical part of the mix in any lifestyle center,” added Wright. “Restaurants help drive traffic to our retailers so we are very pleased to see them work together as our own Restaurant Row for the greater benefit of our overall Center. We are fortunate to have outdoor seating for all of our restaurants, something very high in demand from the consumer.”
Located at a busy intersection across from the Westfield Galleria, the two major cross streets pull a 65 volume and 80 volume of traffic.
Roseville has long been an attractive destination for both new residents and retail businesses seeking a vibrant local economy in California in which to establish a presence. Despite the recession, Roseville and South Placer County in California is still a vibrant, viable market for doing business in California.