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Upcoming Events:
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Small Business Resources
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Economic Development News
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City of Riverside, California
Office of Economic Development
December 11, 2012
Riverside is being recognized worldwide for its forward looking, cutting-edge approaches to economic development, education, sustainability and technology. Discover the possibilities within this City of Arts & Innovation.
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Riverside Lands Top Online Retailer
Hayneedle, the 4th largest online seller of exclusive home and outdoor furnishings, is coming to the City of Riverside. This spring, Hayneedle will begin leasing 300,000 square feet of distribution and fulfillment space in the Sycamore Canyon area of eastern Riverside to ship orders in the western U.S.
Hayneedle.com is the online destination to find everything for the home...from patio furniture to platform beds, coffee tables to cuckoo clocks. The company delivers to 70% of its customers in two days via standard ground shipping. The company expects to increase that number to nearly 90% with the opening of the Riverside-based distribution center. (Read more...)
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New Restaurants & Watering Holes for Downtown Riverside
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Server Cherie Wood checks on customers Barbara Tremont, left, and her daughter Kimberly Tremont, as they dine at the new 9th Street Italian in Riverside.
Photo by Stan Lim,
PE staff photographer
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(as reported by Laurie Lucas, Press-Enterprise retail staff writer)
Downtown Riverside is getting a number of new and revamped dining and entertainment venues.
On December 7th, Laurie Lucas reported the opening of 9th Street Italian at 3790 Ninth on the corner of Market Street. The eatery occupies 1,600 square feet, a complete overhaul of what was once part of the adjacent Riverside Mission Florist storefront.
The owners, David and Regina Powell leased the property eight months ago to work on the extensive remodel. Now open for just over two weeks, the atmosphere is described as casual, cozy and quaint. Entrees run from $7 to $16, including baked pastas, chicken and veal dishes.
Next month restaurateur and owner of Elephant Thai Cuisine Pooh Patanasak will launch Mission Martini. (Read more, including highlights for Pixels Bar and ProAbition.)
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Riverside-San Bernardino Economy Making Significant Progress
(as published by UCR Today on December 6, 2012; by Sean Nealon)
A new forecast focused on the U.S., California, and the Riverside/San Bernardino economies says growth at the national level is likely to start accelerating, in part due to the growing, positive impact of a rebounding housing market.
 The forecast, authored by Beacon Economics and released in partnership with the University of California, Riverside's School of Business Administration as part of the 2012 Riverside/San Bernardino Economic Forecast Conference, reports that home values are 5 percent to 6 percent higher than they were at this time last year, and new housing construction starts have continued to rise, reaching 900,000 in October. Additionally, the length of time that existing homes are up for sale has dropped to well below six months, evidence of a tight market, according to the analysis. (Read more...)
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We invite you to celebrate the achievements and continued progress of this City of Arts & Innovation. Please contact the Office of Economic Development for more information.
Sincerely,
Scott C. Barber
City Manager
City of Riverside
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