Folsom has a rock solid economy.
With the “great economic slowdown” experienced nationwide in Folsom’s rear view mirror, the community is now accelerating and pushing its economy to new heights.
Folsom has the lowest unemployment rate in the Sacramento region and ranks 14th lowest in California. Sectors leading the way include professional, scientific, technical services, finance and insurance as well as health care.
In fact, job growth exceeded population growth in Folsom from 2010 to 2015 with jobs growing 8.7 percent and the population increasing by 5.8 percent indicating a strong base economy. Strong employers in Folsom include Intel, Toshiba, Micron, California Independent Systems Operator, and a host of others. There are 5,620 companies in Folsom.
Within the Sacramento region, Folsom boasts the highest household median income – and also ranks 13th highest in the state. The Sacramento area is home to a labor force of more than 1 million strong, larger than the San Francisco region.
None of this happens by accident. The city has a pro-business government geared to streamlining approval processes for companies. The Greater Folsom Partnership’s economic development focus – ChooseFolsom – is a concierge service for companies looking to relocate, start-up or scale-up. With strong local leadership, the city’s economy continues to reach new heights.
Folsom’s economy is currently driven by private sector companies both large and small with corporate headquarters here such as Safe Credit Union, Green Acres Nursery and Supply and Jimboy’s Tacos. This has created a diversified employment base beyond its history with correctional facilities at Historic Folsom Prison.
In 2017, a 3000-acre master planned addition to the city will begin to take shape offering new opportunities for business and commercial as well as adding population growth. With 30 percent of the area designated as open space, Folsom Ranch will include modern urban design with a walkable town center, bike trails, parks and pre-planned transportation corridors. The area is expected to add 13,000 jobs which is balance to the housing ratio.
While living and working within a short bike ride may sound like a pipe dream to many, here in Folsom it is a reality.
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