April 15, 2026
Director Manager Analyst Assistant
OFFICE OF ECONOMIC DEVELOPMENT
Administrator Administrator
ECONOMIC DEVELOPMENT UPDATE
Adopted September 2022
ECONOMIC DEVELOPMENT UPDATE
ECONOMIC DEVELOPMENT UPDATE
We invested directly in the people who power Corona’s economy through:
ECONOMIC DEVELOPMENT UPDATE
Economic Development
Strategic Plan actions
are complete or in
progress.
100%
Properties were
successfully acquired
in Downtown.
23 3
30+
Companies
supported through
site selection
and expansion.
200+
Businesses assisted
through visitations,
outreach, and
technical support.
Three new tenants
signed at the Hub.
Additional tenants
coming soon.
ECONOMIC DEVELOPMENT UPDATE
New retailers opened, signed or
approved, including AR Mart,
Claro’s, Handels Ice Cream, Ike’s
Love and Sandwiches, KeKe’s Café,
Northgate, and many more.
ECONOMIC DEVELOPMENT UPDATE
Promoted businesses through video campaigns with 581,000+ views Expanded Shop Dine Corona and audience engagement by 90% 300% rise in social media followers
ECONOMIC DEVELOPMENT UPDATE
Meet Chef Jeff: "To
see the city showing
love, the community
pulling up, and people
sharing our story... it's
a blessing we don't
take lightly... From
me and my wife –
thank you for
believing in us and
supporting our
dream"
ECONOMIC DEVELOPMENT UPDATE
Testimonial
"Thank you for reaching out. I truly appreciate the City of Corona and the Business Spotlight.
After the video, Messi Street Original Fast Food has seen an increase in customer traffic and many new faces from the community. It really boosted our visibility and brought new energy to our business.
Our location was originally on Front Street, and after the bridge was built, access became more limited, making it harder for customers to reach us. The spotlight helped bring attention back and drive customers our way despite that.“ — Messi Street Food
• Restaurant Guide
• Experience Corona App
• Dining
• Community Calendar
• Lodging
• And more…
ECONOMIC DEVELOPMENT UPDATE
ECONOMIC DEVELOPMENT UPDATE
• Find these on our
website or the App
Store
ECONOMIC DEVELOPMENT UPDATE
Opened Circle City Tavern and
the Wine Down
Signed three new tenants,
with more on the way
Completed Food Hall design
for construction this summer
Assembling experienced
Operator and Management team
ECONOMIC DEVELOPMENT UPDATE
CORONA RETAIL TRADE AREA
18 ECONOMIC DEVELOPMENT UPDATE
Population: 161,540
35th largest among all cities in CA
Households: 51,567
Average Household Income: $128,065
Median Home Price: $746,500
Overview
ECONOMIC DEVELOPMENT UPDATE
2025: 85,200 jobs
State Unemployment: 5.6%
Riverside County Unemployment: 6.3%
Corona Unemployment: 4.0%
Employment
ECONOMIC DEVELOPMENT UPDATE
5.9% Industrial, 1.4% decrease
6.3% Office, 2.4% decrease
7.5% Retail, 1.7% increase
Vacancies
ECONOMIC DEVELOPMENT UPDATE
$103,304,139 sales tax in 2025
$102,789,183 sales tax revenue in 2024
+1%
Sales Tax Generation
ECONOMIC DEVELOPMENT UPDATE
5,113 permits issued in 2025
3,984 permits issued in 2024
+28.3%
Development Permit Activity
ECONOMIC DEVELOPMENT UPDATE
#3 Largest city in the County
#2 in Assessed Property Values in
Riverside County
Locally Assessed Value: $30,746,708,000
Assessed Value
Source: California State Board of Equalization
ECONOMIC DEVELOPMENT UPDATE
Innovation Center Programs
Business to Business tools
Enhancing 'Experience Corona'
Citywide Business Incubator
Economic Development Strategic Plan 2.0
For economic growth, community, and
fiscal sustainability.
ECONOMIC DEVELOPMENT UPDATE
Lifelong learning center
Skill development for residents
Opening Summer/Fall 2026
ECONOMIC DEVELOPMENT UPDATE
Provide the services of an incubtor,
but to all businesses, for free, and
personalized to business needs.
ECONOMIC DEVELOPMENT UPDATE
• Find local suppliers and services to
keep Corona money in Corona.
• Streamline operations to improve
business performance.
ECONOMIC DEVELOPMENT UPDATE
29 SWOT Analysis
Council,
Business, &
Community
Input
Maximize
resources for
businesses
Focused on High
Return on
Investment
Economic
Development
Strategic Plan
2.0