PROMISED LAND; I-5 CORRIDOR IS KEY TO VALLEY REGION'S ECONOMIC FUTURE
BYLINE: BY SUE DOYLE Staff Writer
BURBANK -- Long overlooked and neglected, a 30-mile stretch along the Golden State Freeway is now turning heads for its sizzling, economic development potential.
The I-5 corridor, spanning from Glendale through Santa Clarita, could become the region's promised land -- sculpted into a vibrant cluster of biomedical, entertainment, technology and business service sectors, San Fernando Valley officials say.
And key to broadened economic prosperity in the region will be creating a collaborative and comprehensive strategic plan targeting the corridor for smart development, according to a report released today by the Mulholland Institute, a San Fernando Valley-based public policy center.
``It's the only place where we have available land left,'' said Bruce Ackerman, president of the Economic Alliance of the San Fernando Valley, a sponsor of the report.
``It's begging to have revitalization. It's begging to have attention paid to it.''
Economists and officials from jurisdictions along the corridor are scheduled today to strategize on plans to help the area achieve its potential.
First step
While the economic impact of better, coordinated strategies for development along the corridor is unknown, officials said the area is already booming.
From 2001 to 2005, payrolls in the corridor grew 26 percent and the average salary for workers along the corridor rose 20 percent -- both nearly twice the increases seen statewide and in Los Angeles County.
With a 9.2 percent office vacancy rate and 1.6 percent industrial vacancy rate in Los Angeles County, there's a crying need to develop land, said Jack Kyser, chief economist for the Los Angeles County Economic Development Corp.
And for Los Angeles residents, that could mean good-paying jobs are on the way.
``People will say it should be used for retail,'' said Kyser.
``No. You need to put it to use as it will create good, quality jobs.''
Already, the freeway corridor has seen job growth expand about 5 percent from 2001 to '05 -- while job growth rose just 1.8 percent in California during the same period, according to the Mulholland Institute report.
But that could be boosted even further by coordinated development of the corridor, which today has seen piecemeal planning as landowners have come and gone and some sites -- such as gravel pits -- have been abandoned and never redeveloped.
The corridor needs an overarching vision to best develop it for businesses and neighbors, said Daniel Blake, director of the San Fernando Valley Economic Research Center at California State University, Northridge.
``We want to channel it to a direction that's good for the Valley and the people -- as well as Los Angeles,'' said Blake.
``This is a first step to bringing it to the surface, getting it on people's radars and taking an inventory of what's out there.''
The study notes that Santa Clarita, at the north end of the corridor study area, has a vision for industrial and commercial growth -- and a well-developed entertainment cluster that could complement the regional entertainment cluster at the other end in Burbank and Glendale.
Renaissance coming
Meanwhile, it notes that the east San Fernando Valley -- in between Santa Clarita and Burbank/Glendale -- offers complementary opportunities for economic expansion of both entertainment and technology industries.
And it adds that with a less than 2 percent industrial vacancy rate, the East Valley will experience a renaissance as much of its current heavy industry becomes obsolete and its mining and landfill activities phase out over the next three years.
The study also recommends expanding housing along the corridor, with a focus on increasing moderately affordable units and expanding investment in transit.
It recommends boosting capacity on the I-5 and other regional highways by adding high-occupancy-vehicle lanes and high-occupancy toll lanes. And it calls for more rail and dedicated busways.
It also calls for toll alternatives for trucks and commercial traffic on roads.
The freeway corridor gets heavy truck traffic to the ports of Los Angeles and Long Beach, which annually handle more than $290billion in cargo.
Half of that cargo heads out of state, leaving the region by train, according to the report.
The corridor study emerged out of an earlier report from the Mulholland Institute. The institute studied the corridor for five years, with the help of experts, community leaders and more than 1,000 volunteers.
Although over the years community leaders have commented on visions for the area, today will mark the first time they all have gathered together to collaborate, said Bob Scott, project director for the Mulholland Institute.
``It hasn't happened until now,'' said Scott.
``It sounds simple, but it has not been happening.''
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INTERSTATE 5 STRATEGIES
TOWN CENTERS: Research feasibility of sites in Pacoima, Sylmar and Sun Valley.
INDUSTRY HUBS: Identify and develop new centers to anchor clusters of industries as Warner Center does.
CAR POOLS: Increase capacity on Interstate 5 and other regional highways by adding HOV and high-occupancy
toll lanes.
INTERSTATE 5 STRATEGIES
EMPLOYMENT: Promote key assets including diverse work force; research and development, scientific and medical institutions; good movement capabilities; Long Beach and Los Angeles ports.
INDUSTRY: Identify and track key industry clusters.
RECRUITMENT: Implement a targeted campaign to recruit businesses to complement existing industries along the I-5 corridor including entertainment, technology, aerospace and business services.
TRANSPORTATION: Pursue rail-based strategies for freight.
PARTNERSHIPS: Undertake collaborative special redevelopment initiatives and partnerships.
DIALOGUE: Conduct meetings with community groups and chambers of commerce on identifying, retaining and expanding key companies.
NORTH AND EAST VALLEY STRATEGIES
LAND USE: Develop new sites and redevelop existing properties into modern industrial space for expansion of key employers.
REDEVELOPMENT: Identify and assemble large redevelopment sites for a variety of new uses.
INCENTIVES: Offer incentives such as business-license-tax waivers and special districts.
LOCATION: Identify and evaluate town center development sites.
SOURCES: Mulholland Institute, Valley Economic Alliance