The Inland Empire Purchasing Managers’ Index (PMI) for February registered 50.8, indicating a slight increase from the previous month’s 50.4. The Production Index increased to 50.0 from the previous month’s 48.0, while the New Orders Index remained unchanged at 48.0, declining new orders for the fifth consecutive month.
The positive comments from panelists outweighed the negative ones, indicating that February continued to be strong, with increased orders and new bid activities, and business remains steady.
NASCAR Sells Land Surrounding Auto Club Speedway for $543 Million
NASCAR has reportedly sold land surrounding the Auto Club Speedway in Fontana for a staggering $543 million to Hillwood Development Co., a Dallas-based commercial real estate investor. Hillwood’s Ross Perot Jr. has partnered with NASCAR on other properties, including the Daytona International Speedway.
Land sales will likely provide NASCAR with significant funds to invest in new projects and redevelop other properties.
Meet the 2023 Cohort of NBA Launchpad Emerging Technologies
NBA Launchpad is an initiative that evaluates and pilots emerging technologies to advance the NBA’s priorities on and off the court. The second cohort of NBA Launchpad has been selected and consists of seven companies: Action Audio, EDGE Sound Research, nVenue, SkillCorner, Springbok Analytics, Supersapiens, and Tagboard.
Filming ‘The Rookie’: Film Production Boosts Economic Development in Riverside County
The Rookie TV show filming location: The hit ABC television show, The Rookie, filmed its Season 5, Episode 1, at Morongo Casino Resort & Spa in Cabazon, Riverside County, which has brought attention to the area as a potential filming location.
Film production contributes to job creation, investment, and tourism, which can positively impact the local economy. As a result, many cities and regions actively try to attract film production by offering incentives such as tax breaks or streamlined permitting processes.
The Rise of California’s Inland Empire as a Logistics Powerhouse
The Inland Empire, comprised of Riverside and San Bernardino counties in California, has become a hot spot for warehouse and logistics markets due to its location and cost structure. The area is attractive to distribution businesses due to its proximity to major ports, accessibility, and ability to serve large population centers.
The growth of e-commerce and the entrance of Asian countries into the WTO have further fueled the demand for distribution centers in the Inland Empire.
Entrepreneurship in Action: California Baptist University Empowers Students to Pursue Their Dreams
California Baptist University offers an entrepreneurship program that encourages students to pursue their business ideas early and provides practical resources to help them launch their ventures successfully. The program is led by experienced faculty members who are also business owners. Students from all CBU colleges are invited to participate in the annual Bob Goodrich Business Plan Competition.
- Annual LEILA Awards by National Latina Business Women Association – Inland Empire – Fri, May 12 [DoubleTree Hotel / Ontario Convention Center]
- The CBU Family Business Center Breakfast Series – Thu, Mar 16 – 7 AM [Innovators Auditorium]