Ambassador of the Month Archive

Golden State Athletic Conference Signs Host Extension for Men’s Soccer in Irvine

Tuesday, October 15, 2019

The National Association of Intercollegiate Athletics (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 2021 season. “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 for the visiting teams and a fun event for the community to attend. The Orange County Great Park Championship Soccer Stadium is th...

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...

US Jobless Claims Fall in Sign of Labor Market Strength

Thursday, August 22, 2019

The number of Americans filing applications for unemployment benefits fell sharply last week, suggesting the labor market was holding firm despite a manufacturing slowdown and concerns the economy is on a path toward recession. Initial claims for state unemployment benefits dropped 12,000 to a seasonally adjusted 209,000 for the week ended Aug. 17, the Labor Department said. The decline was sharper than expected. Economists polled by Reuters had forecast claims would drop to 216,000 in the latest week. U.S. stock index futures held onto gains following the data’s publication. The four-week moving average of initial claims, considered a better measure of labor market trend...

California Job Growth Is Outpacing the Nation’s

Monday, August 19, 2019

California’s job market powered ahead in July amid the longest expansion since the 1960s, and unemployment remained at a record low. Since the post-recession turnaround in February 2010, the state has added 3.3 million jobs, accounting for more than 15% of the nation’s employment gains, state officials reported. Last month’s tally of 19,600 new jobs was lower than June’s revised 41,300 number. But monthly payroll data are volatile. More significantly, California has added an average of 29,200 jobs a month over this 113-month expansion. Year over year, the state’s employment growth outpaced the nation’s, 1.8% to 1.5%. California unemployment stood at 4.1% i...

Job Growth In July Adds Up To Southern California’s Best Month So Far In 2019

Monday, August 19, 2019

There were enough Southern Californians new on the job in July to fill the Rose Bowl and the Staples Center at the same time. The region had 122,000 more jobs across Los Angeles, Orange, San Bernardino, and Riverside counties last month than there were in July 2018, the Employment Development Department reported Friday, Aug. 16. The leap in hiring represented the strongest year-over-year growth so far this year. Job growth for the four-county region in May and June was 106,000 and was below 100,000 in each of the first four months of the year. Orange County saw growth of 24,300 jobs, a 1.5% uptick. Th...

US Secretary of State Explains Why California is Spending $187 Million on the 2020 Census

Thursday, August 15, 2019

Ahead of the 2020 Census, California is spending nearly 95 times what it did a decade ago on outreach to encourage residents to participate, an indication of just how critical this count is for the Golden State. And with the Trump Administration’s controversial and contentious — yet unsuccessful — bid to include a citizenship question on this year’s census, the stakes are even higher for states with large immigrant populations like California. California loses around $2,000 a year in federal funding for each resident who goes uncounted in the census, Los Angeles County officials have estimated. In the 2010 census, more tha...

Mexico Supplants China as #1 US Trading Partner

Tuesday, August 06, 2019

The ongoing trade spat with China – and the subsequent U.S. tariffs on over $500 billion of Chinese goods has had another effect on the relationship between the two countries. For the first six months of 2019, Mexico supplanted China as the top trading partner of the United States. For the first half of the year, imports from China decreased 12%. In the same period, U.S. exports to China decreased 19%. The U.S. Department of Commerce reported that for the six months of the year, the total value of the bilateral trade of goods between the U.S. and China was $271.04 billion. Thi...

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’s Business Outlook 2020 Set for January 9

Wednesday, July 31, 2019

The Greater Irvine Chamber will host its 11th annual Business Outlook Breakfast on Thursday, Jan. 9, 2020, 7:00 – 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 $75 for Greater Irvine Chamber members, and $10...

California Tax Revenue Is Soaring

Monday, July 29, 2019

California state and local coffers are bulging with additional revenue, thanks largely to a still-vibrant economy. The state Department of Finance closed the books on 2018-19 revenue and reported that the state collected $144.8 billion, $1 billion more than it had anticipated just weeks earlier, and $2 billion-plus more than the 2018-19 budget had originally forecast. It’s also a whopping 71.5 percent more than the state was collecting a decade ago, far outpacing both population growth and inflation. The state has enough money to max out its reserve funds and provide several billion dollars in extra cash to offset schools’ rising pension costs. Per-pupi...

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...

California Tax Collections Soared Last Year, Giving the State an Extra $1 Billion

Monday, July 22, 2019

California brought in $1 billion more than projected in its last financial year, the state’s Department of Finance announced. It’s a sign the state’s unusually long period of economic growth is still going. The news comes just after Gov. Gavin Newsom and lawmakers last month approved a $215 billion state new budget, which relies on a big projected surplus to fill the state’s reserve accounts with more than $19 billion. That money is intended to save lawmakers from having to make deep cuts when the next economic recession hits. The unexpected bump means the state’s general fund revenue was 0.7 percentage points highe...

U.S. Jobless Claims Drop to 3-Month Low Of 209,000

Thursday, July 11, 2019

The U.S. labor market isn’t red hot, the Federal Reserve chairman says, but it’s at least pretty darned warm. Layoffs declined in early July and remained near a half-century low. The numbers: The number of people who applied for unemployment benefits last week fell to the lowest level in more than three months, a decline likely exaggerated by July 4 holiday but that still reflects the strongest labor market in decades. Initial jobless claims, a rough way to measure layoffs, dropped by 13,000 to 209,000 in the seven days ended July 6, the government said. Economists polled by MarketWatch estimated new claims would total ...

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...

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