Ambassador of the Month Archive

Holiday Hiring Includes Boost in Tech-Related Jobs

Tuesday, December 03, 2019

Seasonal openings for retail jobs are expected to increase 13% this holiday season with some of the biggest gains coming in tech-related positions, according to recruitment-software provider iCIMS. iCIMS predicts overall retail hiring will expand by 7%. The company compiled its findings from a database of more than 3 million jobs posted and 4 million hires per year by more than 4,000 customers. “In addition to staffing stores and traditional retail positions, companies are looking to strengthen their tech workforce to ensure they provide a seamless online shopping experience as more consumers turn to their smartphone to avoid the holiday crowds,” iCIMS said. Deman...

Commentary: California Trade Mission to Mexico Sows Seeds for Mutual Benefits

Friday, November 29, 2019

The recent California trade mission to Mexico made enormous strides to build positive relations with our neighbors to the south. And that was no accidente, given the importance California places on its cultural, economic and environmental relationship with Mexico. A formal delegation of California government and business leaders visited Mexico earlier this month to reaffirm our mutual friendship, to build on the accomplishments and good intentions of those who have preceded us, and to once again reaffirm that California is truly a place where all dreams are welcome. The results of the visit exceeded expectations: strengthened relations and bold commitments for future direction an...

Cruise Industry Drives $2.5 Billion into California Economy

Friday, November 29, 2019

Mention California’s economy and most people think of manufacturing, technology, international trade, or tourism. Those are all significant drivers, but a new report from the Cruise Lines International Association shows California got the second biggest economic boost from the global cruise industry in 2018, second only to Florida. How big a boost? The industry contributed more than $2.5 billion to the Golden State’s economy, an increase of 5.3% since 2016. That accounted for 10.4% of the industry’s nationwide impact. 2.2 Million Passenger Visits, Crew Arrivals California is the home of headquarters and support facilities for several cruise lines including Princess and Crystal Cruises; it has four major cruise port...

California’s Working Landscape Makes $333-Billion Impact on State Economy

Tuesday, November 26, 2019

California’s “working landscape” represents the sixth largest economic sector in the state, outpacing the healthcare, real estate, and construction industries. That’s according to a recent report issued by the University of California Division of Agriculture and Natural Resources (ANR). “That’s going surprise an awful lot of people, because too many folks here in California just really take our working landscapes for granted,” said ANR Vice President Glenda Humiston, speaking at the California Economic Summit in Fresno earlier this month. Besides traditional agriculture, working landscapes includes fishing, forestry, mining, outdoor recreation, and renewable energy. The report showed that in 2018, direct sales of agriculture contributed more than $263 billio...

Redemption Decade: California’s 2.8 Million New Jobs Outpace the Nation

Tuesday, November 26, 2019

Many of the challenges facing California today, from the high cost of housing to traffic congestion, can be seen as outgrowths of the enormous job recovery. The California economy a decade ago was in total disarray after huge misguided bets on real estate. Far-too-easy lending standards for house hunters, as well as professional investors, left the state ripe for a steep fall when property values imploded. Bankruptcies and foreclosures were numerous. Layoffs were common. In 2011, for example, one in eight California workers was unemployed. Recessionary pains created opportunities. Numerous industries worldwide sought cost savings as their revenues sagged during and after th...

California Unemployment Falls to Its Lowest Rate in More Than Four Decades

Monday, November 18, 2019

California’s job market powered ahead in October as the unemployment rate dropped to a new low and payrolls continued to grow in the state’s longest expansion on record. At 3.9%, the jobless rate was the lowest since 1976, when the state changed its statistical methodology, adding new data to its calculations, state officials reported. That was down from 4% in September, and 4.1% a year earlier. “Each month we think we can’t get any lower in the unemployment rate, but we do,” said Michael Bernick, a former director of the California Employment Development Department. “This is comparable to the rates we had i...

US Jobless Claims Fall to One-Month Low of 211,000 — Labor Market Stays Strong

Friday, November 08, 2019

Most Americans who want a job can find one. Unemployment sits near a 50-year low and there’s no sign of rising layoffs. The numbers: The number of people who applied for unemployment benefits in early November fell to the lowest level in a month and clung near a half-century low, reflecting the resilience of the strongest labor market in decades. Initial jobless claims declined by 8,000 to 211,000 in the seven days ended Nov. 2, the government said. Economists polled by MarketWatch had forecast new claims to total a seasonally adjusted 215,000. Jobless claims are the best measure to track layoffs. They usually star...

Money Wise with The Money Guys KOCI Radio Hosts Interview Bryan Starr on Irvine’s Economic Strength

Wednesday, November 06, 2019

Greater Irvine Chamber President and CEO Bryan Starr discusses Irvine’s economic strength with KOCI radio hosts Andrea Graham, an LPL Financial consultant; and LPL Financial registered principals William O’Connor, founder and president, Applied Financial Planning; and Sean Walker. Starr discussed the importance of the passage of the United States-Mexico-Canada Agreement and its impact on Orange County, which makes up nearly 10% of California’s population. He explained that Mexico is the largest recipient of Orange County exports, which are concentrated in high-tech sectors, including electronic components, computers, pharmaceuticals, and medical equipment. Starr also addressed Irvine’s impressive status, refuting misinformation on businesses migrating ou...

Edwards Lifesciences CEO Mussallem’s Focus Areas: Heart Health, R&D, and OC

Monday, November 04, 2019

A recurring theme at last week’s Medical Technology Innovation Forum was that the next generation of advancement in the medtech industry would largely be led by startups, forward-looking entrepreneurs, and as yet unknown innovators. Tell that to Mike Mussallem, chief executive of Edwards Lifesciences Corp. (NYSE: EW), by far Orange County’s largest public company by market value. In terms of strategic vision for Edwards, whose products—heart valves, delivery systems, critical care monitoring products and other devices—treat structural heart disease, the CEO isn’t willing to cede the future to the next generation just yet. “We believe in big, bold, breakthrough innovation,” Mussallem told th...

US Employers Added 125,000 Jobs in October, ADP Report Shows

Wednesday, October 30, 2019

Companies added more workers to payrolls than expected in October, underscoring how the labor market continues to grow at a robust, but moderating, pace. Businesses’ payrolls increased by 125,000 after a downwardly revised 93,000 gain in September, according to data released by the ADP Research Institute. That exceeded the median estimate in a Bloomberg survey of economists that had called for a 110,000 gain. Key Insights While the ADP report never directly correlates with the Labor Department’s monthly employment report, the two measures may diverge more than usual this month given differences in accounting for the GM strike. The ADP data do no...

California Leads the Nation in Private Equity Investment

Friday, October 25, 2019

California is leading the nation in private equity investment, according to a report compiled by Ernst & Young and the American Investment Council. The study shows the private equity industry directly supported more than 1.1 million jobs in 2018. Those workers averaged $73,000 a year and collectively earned $82 billion in annual wages and benefits. That boosted the Golden State’s economy by $144 billion through their contribution to the production of goods and services. When indirect jobs are figured in, those numbers ramp up to nearly 3.4 million jobs, $220 billion in annual wages and benefits, and an economic boost of $379 billion for California’...

American Research Center in Egypt Chooses Irvine for 2022 Annual Meeting

Wednesday, October 23, 2019

The American Research Center in Egypt (ACRE) will host its April 2022 Annual Meeting in Irvine, bringing to the city a total of 730 room nights with an anticipated economic impact of nearly $270,000. The booking is a result of the sales efforts of Destination Irvine, the destination marketing organization of the Greater Irvine Chamber and the participation of select Irvine hotels. “I had a splendid time during my site visit to Irvine! Being as it was my first visit to the area, I went from knowing next to nothing about Irvine to being able to confidently discuss the area and it...

Expert Economist Chris Thornberg Returns for 2020 Greater Irvine Chamber Business Outlook Event

Tuesday, October 22, 2019

Expert economist Chris Thornberg of Beacon Economics is returning to the Greater Irvine Chamber Business Outlook stage to deliver a 2020 economic forecast on Thursday, Jan. 9, 7:30 a.m. – 10:00 a.m., at Hotel Irvine, 17900 Jamboree Rd. “I look forward to seeing everyone at the next Business Outlook event in January. We will catch up on the ongoing schism between solid economic fundamentals and declining economic confidence, and what it may all mean for the economy of 2020,” Thornberg said. Prior to launching Beacon Economics, Thornberg was a senior economist with UCLA’s Anderson Forecast. He previously taught in the MBA progra...

California Job Growth, Labor Force Expands

Friday, October 18, 2019

Nonfarm employment in California expanded at a steady pace in the latest numbers from the California Employment Development Department, increasing by 21,300 jobs according an analysis released jointly by Beacon Economics and the UCR School of Business Center for Economic Forecasting and Development. This level of growth is exceeded by the state’s average monthly job gain (+26,700) over the last twelve months. From a year-over-year perspective, California has added 320,000 jobs as of September 2019, the largest year-over-year increase for the state in 13 months. This is equivalent to a 1.9% year-over-year increase, which is a better showing than the nation’s 1.4...

Irvine Extends its Run as Host City for NAIA Men’s Soccer National Championship Through 2021

Tuesday, October 15, 2019

Irvine was the host city the National Association of Intercollegiate Athletics (NAIA) Men’s Soccer National Championship in 2018 and will again host the tournament this year in November. The NAIA announced on Oct. 4 that the Golden State Athletic Conference (GSAC) has reached an agreement to extend its contract as the host of the NAIA Men’s Soccer National Championship through the 2020 and 2021 seasons in Irvine. “We are happy to continue to have Irvine as the home of the NAIA Men’s Soccer National Championship. With the support of the Anaheim Ducks and Destination Irvine, the GSAC is able to provide a tremendous championship experience fo...

Jobs Galore: Southern California Continues to See Gains

Monday, October 07, 2019

Southern California’s steady job growth continued in August, and the state is carrying its share of the water on the national hiring front, too, a state report released shows. An estimated 109,000 jobs in Los Angeles, Orange, San Bernardino, and Riverside counties have been added in the last 12 months, according to the Employment Development Department. More than half of that growth was in Los Angeles County, while the largest percentage of expansion continues to be in the Inland Empire. August’s job gains were below July’s growth of about 120,000 jobs but still represented one of 2019’s best months. Statewide, there was ...

Where the US-Japan Trade Deal Falls Short of Trans-Pacific Pact Abandoned by Trump

Monday, October 07, 2019

U.S. President Donald Trump has called his new trade deal with Japan a “phenomenal” victory for U.S. farmers. But don’t expect America’s Land O’Lakes butter to knock New Zealand’s Anchor or France’s President brands off store shelves in Japan, the world’s third largest economy. Butter is one of several U.S. dairy products that will not get improved access to Japan’s 127 million consumers under the limited bilateral trade deal signed by Trump and Japanese Prime Minister Shinzo Abe on Sept. 25. The deal’s full text has not been released and remains classified, but congressional aides, trade experts and industry groups briefed on i...

Irvine Company to Add 35-Acre Modern Office Park to Accommodate City’s Job Growth

Thursday, September 26, 2019

About seven years after closing Traveland USA in Irvine, the Irvine Co. is following through with plans to build a modern office park where millions of dollars worth of RVs were once sold. For the nearly 40 years until it closed in 2012, Traveland off Sand Canyon Avenue adjacent to the 5 freeway was a one-stop RV mall that attracted families with its frontier theme, duck pond, and even a restaurant that opened in 2011. But the RV businesses suffered from economic slumps and fluctuating gas prices, and some relocated. In August, Irvine’s Planning Commission signed off on the Irvine Co.’s plans for Innovatio...

Irvine’s Life Science Ecosystem Works in Nexus with City’s Strong Healthcare Sector and Research Institutes

Tuesday, September 24, 2019

By Bryan Starr, President & CEO, Greater Irvine Chamber Irvine is on par with any life science ecosystem in the world. In fact, Irvine leads the way in life science innovation in consequential ways that contribute to the city’s economic health and its position on the world stage. Contributing to this strength are synergistic collaboration and cooperation that deliver complementary products and integrated service lines across life science, healthcare, and medical-focused research sectors. There are nearly 500 life science companies in Irvine employing nearly 300,000 highly-skilled professionals in the city’s diverse life science ecosystem. With more than 900 high-tech companies in th...

Majority of Orange County's Fastest-Growing Companies are in Irvine

Tuesday, September 24, 2019

From electric bikes to dental technologies to customized sandwiches, Orange County’s eclectic mix of private companies continue to thrive. This year’s list of the fastest-growing companies show the combined revenue of the top 100 companies here climbed to $17.8 billion as of June 30, a 48% rise from two years ago. The city with the most fast growers was Irvine, which claimed 28 of the top spots, compared with nine each in Newport Beach and Orange, followed by eight in Costa Mesa. Twenty four of Orange County’s 34 cities had at least one fast-growing company on the list. It’s clear that Orange County ha...

Port of Long Beach Follows LA’s Lead, Will Launch Incentive Program as US-China Trade War, Other Issues Throw Industry in Tumult

Tuesday, September 24, 2019

The Port of Long Beach will soon launch an incentive program for oceanic carriers — about a year after its Los Angeles neighbor started its own — in an attempt to stabilize cargo traffic, which has declined each month this year amid the ongoing trade dispute. The incentives will begin Oct. 1, the start of Long Beach’s fiscal year. The two incentive programs, taken together, are a response to seismic tumult in the industry, officials for those ports said last week. The China-U.S. trade war, which began last summer, has continually deepened: President Donald Trump has levied or announced tariffs on $550 billio...

Why We Urge Approval of the New Trade Deal with Mexico, Canada

Monday, September 23, 2019

By Bryan Starr President and CEO, Greater Irvine Chamber The Greater Irvine Chamber stands in solidarity with the U.S. Chamber of Commerce and business organizations across the nation in support of the congressional passage of the United States-Mexico-Canada Agreement (USMCA). The one unalterable fact that transcends any points of debate surrounding the USMCA is that the health and vitality of the economies of California, Mexico, and Canada are inextricably linked. In fact, Mexico and Canada are California’s No. 1 and No. 2 trading partners, respectively. The largest export markets for U.S. goods last year were Canada, $298.7 billion, a 5.6% increase from th...

California Has Trillions More Wealth than Any Other State

Monday, September 16, 2019

A study released by California’s Legislative Analyst’s Office this month looks at geographical distribution of wealth across the state. Wealthiest States Californians’ net worth totals over $6 trillion or about $160,000 per resident. The state holds 17% of national net worth, while making up only 12% of the U.S. population. The net worth of about $160,000 would put California at No. 23 on the list of the countries according to worldsrichestcountries.com. California would be just behind Hong Kong ($173,685) and ahead of the following nations: Qatar: $156,986 Israel: $155,982 Finland: $149,917 UAE: $144,377 Kuwait: $113,419 The Legislative Analyst’s Office study is based on 2014-2016 data and states that income and wealth are similar but distinc...

US Weekly Jobless Claims Drop to Five-Month Low

Thursday, September 12, 2019

The number of Americans filing applications for unemployment benefits fell to a five-month low, suggesting the labor market remains strong despite slowing job growth. Initial claims for state unemployment benefits declined 15,000 to a seasonally adjusted 204,000 for the week ended Sept. 7, the lowest level since April, the Labor Department said. The drop in claims was the largest since May. Data for the prior week was revised to show 2,000 more applications received than previously reported. Economists polled by Reuters had forecast claims slipping to 215,000 in the latest week. The claims data covered the Labor Day holiday. Claims tend to b...

GO-Biz Adviser Outlines Strategy to Enhance State’s Global Competitiveness

Tuesday, September 10, 2019

Leveraging existing programs is central to the administration’s strategy for improving California’s global trade competitiveness, according to the recently named senior international adviser at the Governor’s Office of Business and Economic Development (GO-Biz). Bud Colligan, named GO-Biz senior adviser for international affairs and trade in March, reviewed his activities over the last few months at the international breakfast meeting of the California Chamber of Commerce Council for International Trade on Sept. 6. The breakfast was sponsored by the Automobile Club of Southern California. “Trade matters to all Californians,” Colligan pointed out, noting that with increasing interconnections in the global economy, 1 in ...

US Services Sector Suggests Economy Weathering Trade Storm

Thursday, September 05, 2019

U.S. services sector activity accelerated in August and private employers boosted hiring, suggesting the economy continued to grow at a moderate pace despite trade tensions which have stoked financial market fears of a recession. The upbeat reports took some of the sting from data that showed the manufacturing sector contracted for the first time in August as the year-old trade war between the United States and China intensified. But given the erosion of business confidence as a result of the trade impasse and the threat it poses to the longest economic expansion in history, the Federal Reserve is still expected to cu...

Destination Irvine Generates a Record $18.5 Million in Hotel Revenue

Wednesday, September 04, 2019

Destination Irvine generated $18.5 million in hotel revenue for the 2018-2019 fiscal year, a 117% increase from the previous year, and the greatest revenue generated in a single year for the organization. The total revenue is a combination of direct group sales and marketing campaigns conducted by the Greater Irvine Chamber’s destination marketing organization. Direct group sales efforts brought in more than $7.7 million in revenue and daily spend, compared to $6.8 million the previous year, and filled more than 31,800 room nights for meetings groups, sports events, leisure visitors, and business travelers. Destination Irvine’s marketing campaigns, including a CBS social influence...

IRS, Security Summit Partners Alert Tax Professionals to Risks Posed by Phishing Emails and Steps for Protecting Taxpayer Data

Thursday, August 01, 2019

The IRS, states and tax industry partners today warned tax professionals to beware of the continuing threat of phishing emails, which remain the most common tactic used by cybercriminals to steal sensitive data. The reminder came as the IRS and its Security Summit partners urged tax professionals to take time this summer to review their data security protections. To help this effort, the Summit partners prepared a special Taxes-Security-Together Checklist as a starting point. “You can take all the cybersecurity steps in the world, but tax professionals and others in the business world should remember you are only as safe as your leas...

Greater Irvine Chamber Urges Congressional Approval of US-Mexico-Canada Agreement

Tuesday, July 23, 2019

Joining business and agriculture organizations and chambers of commerce from across the United States in a July 23 letter to members of the United States Congress, the Greater Irvine Chamber urged Congressional approval for the U.S.-Mexico-Canada Agreement (USMCA). USMCA is critical to the nation’s economic future because it will preserve and strengthen U.S. trade ties to Canada and Mexico. “Mexico and Canada are critical trade partners for the United States. Our regional economy is impacted by mutual participation of the three nations in trade,” said Whit Peterson, director of Government Affairs and Economic Development, Greater Irvine Chamber. More than 12 million America...

Greater Irvine Chamber’s Business Outlook 2020 Set for January 9

Wednesday, April 24, 2019

The Greater Irvine Chamber will host its 11th annual Business Outlook Breakfast on Thursday, Jan. 9, 2020, 7:30 – 9:15 a.m., at Hotel Irvine, 17900 Jamboree Rd. The Chamber’s annual economic-forecast event is one of the largest of its kind in the region. Drawing hundreds of professionals, executives, and community leaders from throughout Orange County each year, the event provides attendees insights into economic trends delivered by economy experts, and networking opportunities. Watch for more details as they develop. Register now to secure your seat at the 2020 Business Outlook Breakfast. Individual ticket prices are: members - $75; nonmembers - $105. Table sponsorship...

Irvine Tops List in Financial Health

Wednesday, January 30, 2019

Irvine is the financially healthiest big city in America, according to a new study by a nonprofit dedicated to financial transparency in the public sector. “Irvine is a community that was master-planned for success from its inception more than 50 years ago. Its founders planned the city to ensure sustainable fiscal strength long into the future,” said Bryan Starr, president and CEO,Greater Irvine Chamber. “It comes as no surprise that Irvine has been recognized for its financial health.” California’s other big cities fall firmly in the middle, with Southern California burgs healthier than many of their Northern California counterparts, says Chicago-based watchdog group Truth in Accounting. Th...

Ambassador of the Month Archive

Subscribe for our updates

Back to Portal