ANN WISHART, Valley Press Business Editor

July 19, 2005

Aerospace, housing to keep flying

LOS ANGELES- The aerospace industry and residential construction are flying high in the Antelope Valley, and the flight should stay fairly smooth until mid-2006. Aerospace is one of the four industries predicted to see "good growth" into 2006, while housing is expected to continue to blossom all over regions where land is still available and affordable. A gradually expanding economy nationwide is predicted to keep adding numbers to the regional employment lists.

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The Mid-2005 Economic Forecast and Industry Outlook Update released Monday, the Valley is one of the only areas where large numbers of homes are going up. "There is less land available for housing development in Los Angeles County except in the Antelope and Santa Clarita valleys," according to the outlook, presented by the Los Angeles County Economic Development Corp.

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"Southern California's housing market remains robust; some would say too robust," according to the outlook. Despite the fact that a new median price peak of $465,000 was hit in June, accor5ding to a study by the DataQuick Information Systems released Monday Additionally, sales numbers beat a monthly record set in 1988.

Employment

"Growth will resume in 2005, with average employment at 67,200 jobs. The Valley is a center of aerospace R&D, the current focus being unmanned aerial vehicles," the forecast said. The Valley has a "significant portion" of the aerospace industry in the five-county region and, as demand for the items builds, the Valley can expect to see employment in those areas slowly increase.