Business View Magazine | January 2020

260 BUSINESS VIEW MAGAZINE JANUARY 2020 21800 Oxnard Street, Suite 500, Woodland Hills, Ca 91367 818-251-9911 Setting a standard of excellence, integrity, creativity and professionalism. W W W. R B E L L C . C O M “About a year-and-a-half ago, we opened a major shopping center here and construction of another one has started on downtown’s Sixth Street.” Among the tenants of the new center is Grocery Outlet, the buzz-worthy chain introducing new concepts in food retailing. Many top brands have excelled in Norco prior to expanding throughout California, such as Floor & Decor, WinCo Foods, Tractor Supply Company, and Hobby Lobby. “On the industrial side, Norco is home to the global headquarters of the E-Z Up Corporation and we’ve seen a major investment by CapRock Partners, one of the largest industrial developers in the nation,” Okoro reports. Newport Beach, California-based CapRock acquired 23-acres in Norco and recently completed the 425,000-square-foot, state-of-the-art Saddle Ranch Park. Located less than a mile from Interstate 15, the business park is comprised of four buildings ranging in size from 70,000 to 160,000 square feet. Demonstrating the company’s confidence in Norco, CapRock has proposed the 110-acre Palomino Business Park on the south side of the City. “The goal, of course, is to attract employment here,” Okoro notes, “but also with the hope that some of these manufacturers will use the facility as a point-of- sale to generate sales tax for the City.” Okoro explains where some of those tax dollars go: “Over the last three or four years, the City has completed extensive storm drain, water and sewer, and trail projects.” The City Manager reports that in the current fiscal year, Norco plans to spend over $30 million on infrastructure, much of it going toward replacing water and sewer lines, building additional storage capacity for the water system, and extensive work on streets and storm drains. “For a municipality of our size, $30 million in annual spending on infrastructure projects is very significant,” says Okoro. “But the City is financially strong because of its balanced economic base, and we’re in a position where we can sustain