ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Temecula Valley Winegrowers Association Announces the Economic Impact of Temecula Valley and Riverside County's Wine Industry

Riverside County's wine and winegrape sector and support businesses deliver a total economic contribution of $2.7 billion in annual economic activity

The Riverside County wine and winegrape industry, driven largely by the Temecula Valley American Viticultural Area (AVA), and its associated businesses deliver a total economic impact of $2.7 billion in annual economic activity for Riverside County's economy, according to a new report commissioned by the Wine Institute and the California Association of Winegrape Growers (CAWG). 

Comprised of 93 vineyard and winery operations, and making up a portion of the larger South Coast AVA, Riverside County wineries and wine-related businesses generate 17,058 jobs and just over $956 million in annual wages and benefits. 

Tourism to the region is strong, with 885,300 tourist visits to Riverside County wineries, over half of which are located in the Temecula Valley AVA. Annual tourism spending totals $487.4 million, a number that is substantially greater - in some cases four times so - than regions comparable in size and tasting room count. 

"Wine Enthusiast named Temecula Valley one of the world's top wine destinations for good reason," said Krista Chaich, executive director of the Temecula Valley Winegrowers Association. "As the center of Riverside County's wine industry, our nearly 50 wineries and wine-related businesses are not only a significant contributor to economic impact for the County but also a substantial provider of employment and career opportunities for the community and surrounding areas. And yet, despite these impressive numbers, Temecula Valley remains an approachable, welcoming Southern California wine region with true small-town heart."


RIVERSIDE COUNTY WINE & WINEGRAPE ECONOMIC IMPACT REPORT HIGHLIGHTS

  • Employment: 17,058 California jobs
  • Economic Activity: $2.7 billion
  • Wages & Benefits: $956.1 million
  • Tourism Visits: 885,300
  • Tourism Spending: $487.4 million in estimated wine visitor-related expenditures annually
  • Annual Charitable Contributions from all California Counties Combined: $291.2 million 

Statewide numbers and the full Riverside County report can be found here.

ABOUT THE RESEARCH
Economic Impact of California Wine and Grapes on Riverside County 2022 measures the full economic impact of the wine and winegrape industries in terms of employment, wages, output, taxes, tourism spending and visits, and charitable giving. "California Wine & Winegrape Impact on Riverside County, California" was prepared by John Dunham & Associates. It uses a standard and widely used methodology, which includes direct, indirect, and induced economic impacts, to present the full picture. The IMPLAN model, initially developed by the U.S. Forest Service and the University of Minnesota (and now maintained by IMPLAN, Inc.), is used by many companies worldwide and government agencies such as the National Agricultural Statistics Service, Economic Research Service, and Federal Reserve Bank.

ABOUT TEMECULA VALLEY WINE COUNTRY

Located within a 60-minute drive from San Diego, Orange County, and Palm Springs, and within 90 minutes of Los Angeles, Temecula Valley is widely recognized as Temecula Valley Southern California Wine Country. The popular wine destination is Southern California's largest wine producing region by volume. 

The Temecula Valley Winegrowers Association (TVWA) is a 501 (c) 6 nonprofit regional organization. The TVWA (TemeculaWines.org) is dedicated to promoting the making and growing of quality wine and wine grapes in the Temecula Valley A.V.A. (American Viticulture Area). 

###

Contact Information:
Devin Parr
Brand Marketing Partner
prmarketing@temeculawines.org
818-731-1082


Original Source: Temecula Valley Winegrowers Association Announces the Economic Impact of Temecula Valley and Riverside County's Wine Industry
Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.