The city of Martinez, located in Contra Costa County, California is an exceptional location to start or expand your business. The Economic Development Bureau focuses solely on strengthening the already robust business climate in Martinez.
A November 2019 survey offered to Martinez, California business leaders revealed they have confidence in the future of their city. Even when compared to a survey taken earlier that same year, the strength of the city’s business climate had increased. The following is a deeper look at what makes them so certain.
Sales and Profits
According to the above-mentioned survey, business leaders predicted an overall increase in sales over the next twelve months. In general, profits and employment were also expected to remain at a steady clip.
In an overview of the local economy, the Martinez Economic Development Division found similar findings. Martinez boasts an average growth of 83.5 percent in all five components: housing, building, employment, sales tax, and transient occupancy tax (TOT).
In a breakdown of these categories (as compared to the year 2012), we find the following increases:
- Housing performance is up by 134.2%
- Building by 32.3%
- Employment 11.9%
- Sales tax 166.9 %
- Transient occupancy tax 71.6%
Looking forward, a wide majority of Martinez business leaders expect business conditions to improve or stay the same over the next year.
The economic study shows that since November 2019, sales tax revenue is up nearly 65 percent compared to one year ago. In fact, sales tax is at its highest level since 2012 with over 2.7 million dollars in the first half of 2019.
There are many things that make the business climate in Martinez so strong, including:
- High performing public schools
- A high median household income (higher than national, state, and county)
- A highly educated population (36% holding a Bachelors degree or higher)
- Many sustainable ‘green’ programs
- Ample waterfront real estate
- Low crime rate
It’s clear to see that the business climate in Martinez, California is among the best in the nation. This city is fertile ground to grow a new business, or expand an existing one. There are boundless opportunities in Martinez for anyone seeking business success in the sunny state of California.
If you’re curious about real estate in Contra Costa County, give us a call at (925) 595-8047.