First-Ever Census Report on Valley
Washington, D.C. - The U.S. Census Bureau has completed a first-ever report on the San Fernando Valley using data from its American Community Survey.
Prepared at the request of Congressman Brad Sherman and Los Angeles County, the report will help community organizations, businesses and government leaders make better-informed decisions affecting the Valleys future.
Compared to the average American, Valley residents make more money, spend more of it on housing, and endure longer commutes to work. The more than 1.74 million people who live in the Valley exceed the populations of all but the top-four cities in the United States " New York, Los Angeles, Chicago and Houston.
œI want to thank the Census Bureau for preparing this report, and we look forward to Valley-specific data as part of future census reports. Having specific and official data about the Valley will help to establish our Valley identity, and help us fight for state and federal funds. It will also help attract businesses to the Valley by showing that we offer an educated workforce and a strong consumer market, Sherman said.
œThe report shows that Valley residents spend an average of 29 minutes commuting to work which is 7.4 % longer than the average Californian and 15.5 % longer than the average American. This should be important in seeking both federal transportation dollars, and funding under Proposition 1B, the newly passed $19.9 billion state transportation bond, Sherman said.
œThe report also shows that there is significant poverty in the Valley (over 72,000 households with incomes under $15,000), justifying our requests for housing funds and for inclusion in tax-incentive empowerment zones, continued Sherman.
œBusinesses are looking for an educated workforce. Now we can quantify that the Valley has over 107,000 people with graduate or professional degrees and another 227,000 with bachelor degrees, Sherman added.
œAt the same time, the median home price in the Valley ($524,800) is higher than the City of Los Angeles, Los Angeles County or California, and is more than triple the U.S. median home price ($167,500). This information will help us make the case for Valley homeowners on a number of issues, such as increasing the conforming loan limit to make more low-cost mortgages available, and preserving the income tax deduction on mortgage interest. These two issues are particularly important to the typical Valley homeowner. The buyer of a $500,000 or a $600,000 home in the Valley is a local teacher or police officer " not a millionaire, Sherman said.
œThe place called the San Fernando Valley has been hiding in plain sight. Now we are giving the place an identity so people can get a better sense of what we are all about, said Robert L. Scott, chairman of the Valley Industry and Commerce Association (VICA). A leader in the drive for a Valley census, Scott said the information will help lure business to the region.
œBefore now, anyone interested in the Valleys economic and demographic trends had to assemble partial and fragmented information from diverse sources which provided incomplete notions of the Valleys dynamics, added Daniel Blake, director of the San Fernando Valley Economic Research Center at California State University, Northridge. He called the report a œboon to the business community, policy-makers, politicians, the social services sector, and civic leaders.
œThe bottom line for business is that better data means better decisions, said Dick Castner, executive director of the U.S. Chamber of Commerce western region. œThe census report on the Valley is packed with solid facts that will help guide smart businesses in determining where to locate. We have a rapidly changing economy in Southern California, especially in the San Fernando Valley, and you cant plan unless you have good, solid information.
The entire report is available online at BradSherman.house.gov
