Visalia’s retail growth just doubled the national average, what’s behind the surge?
The Visalia metropolitan area more than doubled the national average for retail growth between 2020 and 2024, according to an analysis of U.S. Bureau of Labor Statistics numbers. The report, conducted by Michigan-based printer Printastic, ranked the area 27th for retail establishment growth among midsize U.S. metropolitan areas, with an 8.1% increase. The analysis also showed that retail employment in the area increased 9.5% during the same period. Nationally, the increase in retail stores was 3.7% between 2020 and 2024, according to the report. The study showed that there were 1,123 retail establishments in the Visalia metro area last year, and they employed a total of 16,668 people. These numbers indicate increases of 84 retail establishments and 1,450 retail employees since 2020.
“That’s consistent with what I’m seeing in terms of new building permit activity for retail and the buildout of new shopping centers across town, not only on Mooney, but in North Visalia (Orchard Walk West and the North Costco) and East Visalia (The Hub at Walnut and Lovers Lane, and the second Vallarta by Noble and Lovers Lane),” said Devon Jones, Visalia economic development manager.
Jones offered three reasons for the local growth in retail business.
“First and foremost, we are fortunate to have excellent retail development and property owner partners such as Paynter Realty, Brookfield Properties, the Orosco Group, Cal Gold Development, and the Shehadey and Shannon Families to name a few,” he said. “We’re lucky to have lots of investment interest in Visalia and will continue to be a strong development partner for those that choose to invest in us.”
Jones said that Visalia is fortunate to be the metro center for the Tulare/Kings and southern Fresno County region.
“Being the metro and services hub gives us the benefit of drawing visits from the broader trade area population beyond our own city’s population,” Jones said. “This gives us a true ability to provide quality sites for regional retail tenants. This is in addition to the flow of visitors we see annually for Convention Center events and the Sequoia and Kings Canyon National Parks.”
Lastly, Jones said that the city is remains focused on the “basic formula” for sound economic development and economic diversification.
“That is, creating primary jobs that add outside wealth into the local economy to spur new job creation that leads to new housing demand, which in turn generates more demand for local services such as retail, healthcare, education, etc.,” Jones said.
Primary jobs are those that produce goods and services in excess of what can be consumed at the local level, thereby exporting income into the local economy, he explained.
“Essentially, this export income grows the local economic pie that we divide up amongst ourselves – other businesses/vendors, public agencies, local services,” Jones said.
“In Visalia, we are blessed to have many primary job sectors including health care and tourism, but the sectors with the greatest reach are those typically found in our industrial park, such as food processing, manufacturing, and logistics/distribution,” he added. “Many of these businesses serve international, nationwide, or Western U.S. markets. Luckily, we have lots of great companies in our industrial park and again, have strong industrial development partners that will help us to realize more growth for years to come.”
There is an effort to encourage future growth, according to Jones.
“We will continue to focus on economic diversification and primary job creation as a core economic development priority, and also be a strong development partner for those seeking to invest in Visalia, whether it be commercial, industrial, or residential,” he said.