While there is no industrially zoned acreage in Indian Wells, there are thousands of acres dedicated to business and industry in the Coachella Valley. In proximinity to Indian Wells, nearly 750 industrial acres are available. The focus here is light industry with space for warehousing, distribution and assembly work. To the east of Indian Wells, more than 1,300 acres of industrial land is available, including 20 industrial parks.
To bolster area business, the Coachella Valley also offers a Foreign Trade Zone, with more than 900 acres at the Palm Springs International Airport and 14 acres at the Palm Springs Rail Station. The zone can provide a number of benefits for companies that import or export goods, such as customs duties and federal excise taxes which are deferred for improving cash flow, a lack of duties on goods exported from the zone, an exemption of state and local inventory taxes on foreign and domestic goods held for export and possible lower duties for finished products assembled in the zone.
City and business officials are proud to point out that the City of Indian Wells is not only prosperous but also benefits from being one of California’s wealthiest and financially well-managed communities, thanks to reliable accounting practices, with a major emphasis on solid fiscal plans for the next several decades.
In Indian Wells, big business is found in the form of the community’s hospitality industry and its four hotels. A majority of the tax base in the community is a bed tax, provided by the 1,460 hotel rooms at the four major hotels: The Hyatt Grand Champions Resort, Renaissance Esmeralda Resort, Miramonte Resort and spa and the Indian Wells Resort Hotel. Each of the five-star resorts puts a strong emphasis on hospitality and customer service. As a result, in recent years hotel room sales have reached more than $50 million and the Transient Occupancy Tax (TOT) has increased by 17 percent.
In addition to the resort properties, Indian Wells boasts several high-end commercial and retail establishments, guided by a strong Chamber of Commerce focused on economic vitality and
committed business strategies. The Chamber supports both the Fortune 500 companies that flock to Indian Wells for business conferences, as well as the growing number of banks, stock brokerage firms and accounting offices that have set up shop in the area.
Taxable retail sales in Indian Wells’ resorts and retail centers along the Highway 111 corridor have dramatically increased in the last decade, and as of 2003, total taxable sales in Indian Wells reached more than $67 million while per capita spending amounted to more than $14,000. Some of the strongest growth has been witnessed in the community’s non-hotel-affiliated restaurants, which reached some $12 million in annual sales during 2001 and 2002.
In addition to Indian Wells’ affluent residential base and a strong economic environment, businesses can also prosper from the Coachella Valley’s healthy economy. In recent years, thousands of new housing permits have been issued, the majority for the eastern half of Coachella Valley. The Coachella Valley has also been labeled a “hotbed” for entrepreneurial types by Palm Springs Life Magazine, as the area is known for its devotion to green energy and healthcare, among other healthy business sectors. With nearly eternal sunshine at 350 days per year, a climate bordering on perfection with an average temperature of 74 degrees and a small-town resort atmosphere that leaves you feeling as if you’re on a perpetual vacation, many have found that the landscape is ideal for not only play, but work as well.