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Honored as one of America’s most Livable Communities, Riverside continues to be a progressive force in the state of California. Riverside is the leading city of the Inland Empire and in the past year, statewide and national publications have acknowledged the appealing aspects of life and business throughout the thriving area.

Riverside was chosen to prepare itself for the new global economy and as a result, it is among the nation’s top destinations for travel, business investment, relocation, learning, retiring and living. Riverside has been highlighted in several articles of the online and print magazine California CEO, which features the city’s businesses, technology park, and other benefits available in the area. California CEO has also spotlighted the city of Riverside, naming it as one of the top three cities where business is best in California. FORBES Magazine has ranked the Riverside-San Bernardino metropolitan area on a list of the Best Places in the USA and Now, Inc Magazine has named the city number two on the Top 25 Cities for Doing Business in America listing.

Riverside’s growing reputation comes from many sources, including four fine institutions of higher learning, a Justice Center with six courthouses, an attractive historic Downtown, a vibrant business community with lively retail centers, expanding high-tech industries, parks, beautiful neighborhoods, entertainment, arts and numerous other amenities.

The area started as an agricultural colony, with oranges as one of the community’s early sources of income. The venerable Parent Navel Orange Tree is preserved in one of Riverside’s many parks. A Citrus Research Station grew into the highly respected Riverside campus of the University of California.

The modern character of the community is shaped by such major employers and important entities as: March Air Reserve Base, the four colleges, two K-12 school districts, Fleetwood Enterprises, large hospitals, various government agencies, The Press-Enterprise Company and numerous large retail chains.

Increasingly recognized as the legal, financial, and educational leader of the two-county Inland Empire, Riverside offers all the desirable services and professional firms. Many of these functions are located near Downtown, but Riverside has also established neighborhoods, commercial/industrial centers, schools, and businesses in other distinctive parts of the city.

Riverside Renaissance
Sensing the need to keep Riverside’s quality of life in line with its economic growth, the City Council recently approved the Chamber supported “Riverside Renaissance Initiative”. The initiative is the most aggressive infrastructure and capital improvement investment in the history of the city. Riverside is a city with a dynamic present and a progressive outlook for the future. Riverside’s civic leaders are committed to maintaining the community’s diversified economy, balanced land uses, quality developments, and cultural amenities.

The initiative is composed of two elements, the Capital Improvement Plan (CIP) and the Strategic Investment Plan (SIP). The five year CIP identifies over $1 billion in critical infrastructure needs and relies heavily on existing local, regional, state and federal funding sources. The CIP provides for $384 million in public facility investment between fiscal years 2006/07 to 2010/11. Projects include municipal buildings; park and recreation facilities; transportation improvements; sewer, water, refuse, storm drain and electrical improvements; public parking facilities; and airport improvements.

The CIP also identifies $629 million in unfunded projects. The Strategic Investment Plan (SIP) is designed to build the funding gap by generating an additional $398 million toward the city’s unmet capital needs. Together, the two plans will formulate the Riverside Renaissance Initiative with over $781 million in capital funding over the next five years. Methods for generating capital funding include Certificates of Participation; Redevelopment Agency financing; the sale of surplus property; and the leveraging of federal, state, and regional public funds.

Economic Outlook
Financial and Professional Center
The progressive community of Riverside is one of the fastest growing metropolitan areas in the United States. Riverside is a diverse urban city of approximately 300,000 people, currently the 12th largest city in California, 6th in Southern California, and the largest city in the Inland Empire.

Riverside is characterized by a unique blend of historic charm and modern city features. It is home to many state government offices, the Riverside County Administrative Center, and a legal complex consisting of county, state and federal courts. The city is an important financial and professional center with numerous legal, accounting, brokerage, architectural, engineering, software firms, and banking institutions with holdings exceeding $3 billion in total deposits.

Diverse Economy
The economy of Riverside is diverse and healthy, with the Inland Empire’s largest number of businesses and total jobs. Rather than being dominated by a single industry, Riverside is home to a wide range of light industries, manufacturers, distributors, diverse retailers, offices, professional services, and other employers. Riverside’s diverse manufacturing base includes such sectors as electrical instruments, plastic molding, wood and metal fabrication, food processing, and recreational vehicle production.

Technological and manufacturing companies are supported by four top notch colleges and other educational institutions, which offer specialized training and research partnerships. The University of California, Riverside is near a Technology Park with growing numbers of businesses.

Riverside’s historic buildings and unique settings have provided numerous locations for the film production industry. Movie making brings in approximately $75 million annually to the area.

Effective Infrastructure
Numerous improvements have been recently completed to local freeways, and other enhancements to traffic flow are currently underway. Businesses benefit from convenient rail access, high-speed fiber optic and wireless tele-communications, reasonable land and building costs, reliable city owned electrical and water systems, and a large general aviation municipal airport.

Progressive Future
As a mature city with established neighborhoods, the City’s remaining prime industrial land is located within redevelopment or enterprise zones, which involve tax incentives for eligible companies.

Riverside is a city with a dynamic present and a progressive outlook for the future. Riverside’s civic leaders are committed to maintaining the community’s diversified economy, balanced land uses, quality developments, and cultural amenities. It’s a fine hometown!