Friday, August 22, 2008

We are the industrials, my friend

The following release appeared on Inland Empire News:

ONTARIO, Calif. (August 19, 2008) – According to CB Richard Ellis’ second quarter industrial report, Ontario led the region in industrial activity, securing 23 percent of the total sale and leasing activity of more than 718,000 square feet of gross activity throughout the two-county region. This is the second consecutive quarter that Ontario has led the region in this market. The City of Ontario, California continues to be a strategic location for corporations, providing global commerce, major transportation corridors, a highly skilled workforce and modern industrial and R&D product.

“The industrial market in Ontario is a thriving mature environment that will continue to see long-term investment and activity,” said Jay Dick, Senior Vice President for CB Richard Ellis. “Ontario’s proximity to the Ports of Los Angeles and Long Beach and LA/Ontario International Airport make it a desirable location for corporations with distribution within the nation or in global markets.”

While several major companies are still relocating to Ontario to take advantage of the City’s amenities and strategic geography, most of Ontario’s recent growth in the industrial market has been from the increase in local productivity. Two of Ontario’s largest leases in the second quarter were lease renewals. Ryder Integrated Logistics and Covidien made CB Richard Ellis’ top Inland Empire transactions list at 500,000 and 334,000 square feet respectively.

“Industrial remains a good employment sector for this region and is now demonstrating its resilience despite the current economic trends,” said Mayor Paul S. Leon, City of Ontario.

Recent reports note that the region has a 153,000-person-strong jobs base in manufacturing, warehouse and wholesale trade fields in the Inland Empire. Nearly 21 percent of Ontario’s workforce is in the logistics industry, contributing to the City’s strength and stability.

“We take a proactive role in building a quality environment that offers businesses and workforce the resources to succeed. Our ongoing corporate growth means that Ontario is still an important part of that activity,” said Mary Jane Olhasso, Economic Development Director, City of Ontario.

About Ontario, California

Ontario is increasingly identified for the competitive advantages it provides to businesses that want to succeed in the global marketplace and for its growing importance to the state, national and international economies.

Just 35 miles from Los Angeles and uniquely positioned within the hub of Los Angeles, Orange, San Bernardino and Riverside Counties, the City of Ontario is the "economic engine" of one of the fastest growing regions in the United States. It features an exceptional pro-business environment, competitive commercial lease rates, technical amenities, a skilled and abundant work force, and an innovation corridor of 14 colleges and universities.

As a major transportation hub, Ontario is home to LA/Ontario International Airport (ONT), the center of a rapidly developing freight movement system that includes the airport, two railroads, four major freeways and an expanding network of freight forwarders. ONT is one of the fastest growing and ambitious cargo airports outside the booming Asia-Pacific market and home to United Parcel Service’s Western Regional Hub providing direct flights to China. In 2003, ONT was listed among six of the best cargo airports in the world by the leading international airport magazine, Airport World. Aero Ontario, LLC, a division of Aeroterm of Annapolis, MD, is investing $142.9 million in an international air cargo center at ONT. The Ontario Foreign Trade Zone is also of significance to businesses involved in international trade. ONT handled over 7 million people in 2007, and is projected to reach 30 million annual passengers by 2025. For more information, visit

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