Ambassador of the Month Archive

Bill Aims to Improve work Conditions for California Warehouse Employees

Wednesday, September 15, 2021

(Orange County Register) A bill that aims to protect California warehouse workers from claims of abusive quota systems has landed on the governor’s desk. Assembly Bill 701, which recently gained approval in the Assembly and Senate, was authored by Assemblywomen Lorena Gonzalez, D-San Diego. If signed into law, it would be the nation’s first legislation to make companies disclose the productivity requirements and work-speed metrics they set for employees. It would prohibit workers from being fired for failing to meet a quota that interfered with their ability to use the bathroom or take rest breaks, and it would bar employers from disciplining warehous...

Two-Thirds of Businesses Worldwide are Struggling to Hire

Wednesday, September 15, 2021

(Orange County Register) Businesses around the world want to hire but face a similar dilemma: attracting workers. A survey of nearly 45,000 employers across 43 countries showed 69% of employers reported difficulty filling roles, a 15-year high, according to employment-services provider ManpowerGroup Inc. At the same time, 15 countries — focused in Europe and North America — reported their highest hiring intentions since the survey began in 1962. Businesses across all surveyed countries reported stronger hiring outlooks for the end of this year compared to the final three months of 2020. “Continued talent shortages mean many businesses are prioritizing retaining and training workers wit...

Weak Jobs Report as the Delta Variant Impacts Travel, Tourism

Saturday, September 04, 2021

(Orange County Register) America’s employers added just 235,000 jobs in August, a surprisingly weak gain after two months of robust hiring and the clearest sign to date that the delta variant’s spread has discouraged some people from flying, shopping, and eating out. The August job growth the government reported Friday fell far short of the sizable gains of roughly 1 million in each of the previous two months. The hiring jumps in June and July had followed widespread vaccinations that allowed the economy to fully reopen from pandemic restrictions. Now, with Americans buying fewer plane tickets, reducing hotel stays and filling fewe...

Companies Growing More Cautious About the Delta Variant

Tuesday, August 10, 2021

(CNBC) When earnings season kicked off in earnest in mid-July, few companies fielded questions about or mentioned the Covid delta variant. That changed as new Covid-19 cases spiked and the Centers for Disease Control and Prevention reversed its stance on masks for vaccinated people, according to a CNBC analysis of earnings call transcripts. Between July 13 and Thursday, 142 companies in the S&P 500 out of the 410 who have reported their quarterly earnings have mentioned the delta variant by name or answered a question about it on their earnings calls. Just 15% of those mentions came before July 27 — the same day that th...

U.S. Senate Passes Infrastructure Investment and Jobs Act

Tuesday, August 10, 2021

The U.S. Senate on Aug. 10 passed the Infrastructure Investment and Jobs Act on a broad bipartisan vote of 69-30. This historic bill includes many of President Joe Biden’s economic priorities, including record investments in minority-owned businesses, broadband infrastructure, expanded funding to track and address climate change, while also including the largest-ever federal investments in roads and bridges, clean drinking water, and more. After the Senate passed the Infrastructure Investment and Jobs Act, U.S. Secretary of Commerce Gina M. Raimondo released the following statement: “I am deeply thankful for the unwavering commitment of the Republican and Democratic Senators who led the proces...

Small Business Survey Reveals Delays From Domestic, Foreign Suppliers

Monday, August 09, 2021

(Census Bureau) Which U.S. small businesses are being hardest hit by supply chain disruptions during the pandemic and has that changed since earlier this year? The U.S. Census Bureau’s Small Business Pulse Survey (SBPS), designed to measure how COVID-19 is affecting small businesses, captures the extent of some of these business disruptions. The survey shows that 38.8% of U.S. small business respondents reported domestic supplier delays in the most recent and final week (7/12-7/18) of the SBPS’s Phase 5. That’s up from the 30.9% portion during the last week (4/12 –4/18) of Phase 4. The survey shows that 38.8% of U.S. small business respondents reported domestic supplie...

Contributing Over $7 Billion Annually to Orange County, UCI is an Engine of Economic Growth

Wednesday, August 04, 2021

You’ve probably heard about the worldwide impact of University of California, Irvine's scientific research, technological innovations and successful startups. But UCI’s positive impact on our local community – as a wellspring of jobs, entrepreneurial investment, and billions in economic growth – is really something to talk about. Most who live near a typical college or university don’t really feel a deep connection to it. The institution might provide an interesting talking point when you meet new people – but little else. If you live in the city of Irvine, however – or anywhere in the broader Orange County area—the odds are hig...

US Manufacturing Expands Again in July, But Pace Slows

Monday, August 02, 2021

(AP News) Growth in U.S. manufacturing slowed for a second straight month in July amid ongoing supply-chain problems. The Institute for Supply Management, a trade group of purchasing managers, on Aug. 2 said that its index of manufacturing activity declined by 1.1 percentage points to a reading of 59.5. The index had also slowed in June, dropping to 60.6 from a reading of 61. in May. Any reading above 50 indicates growth in the manufacturing sector. July was the 14th consecutive month manufacturing has grown after contracting in April 2020 when the coronavirus triggered nationwide business shutdowns. But the July reading showed slower growt...

With Rivian, Lordstown, and Karma in Irvine, So Cal is a New EV Mecca

Monday, August 02, 2021

(Orange County Register) With the click of a mouse, a Karma Automotive technician brings a brand new electric vehicle to life. You sit inside and marvel at the sleek console, the plush seats, the streamlined, jet-age dashboard. Never mind that this new car doesn’t yet exist. Never mind that the driver’s seat you’re sitting on is actually a metal office chair. Thanks to the magic of virtual reality, Karma Automotive’s designers can visualize how a car looks long before they build it. “I can put you inside a car,” said David Hilton, who as Karma’s senior design director oversees work at the EV maker’s desig...

$100M Gift from Irvine Co.'s Bren Powers Caltech Space Electricity Idea

Sunday, August 01, 2021

(Orange County Register) Orange County’s billionaire real estate developer Donald Bren has donated at least $100 million to a Caltech project that aims to generate solar power in space and beam it back to earth. The Southern California News Group reported that in 2013, Bren agreed to a 10-year commitment to Space Solar Power Project at the Pasadena institute. The years-long effort will reach a milestone in the coming months when it launches the first space test of technology that could change how the world creates and distributes electricity. “I have been a student researching the possible applications of space-based solar energy for many years,"...

Dept. of Commerce’s Economic Development Administration Commits to $3 Billion Investment in America’s Communities

Sunday, August 01, 2021

U.S. Secretary of Commerce Gina M. Raimondo on July 22 announced that the Department of Commerce’s Economic Development Administration (EDA) will implement a series of programs, collectively called Investing in America’s Communities, to equitably invest the $3 billion it received from President Biden’s American Rescue Plan Act to help communities across the country build back better. The EDA investment is the largest economic development initiative from the Department of Commerce in decades. Secretary Raimondo will address the White House Briefing Room to further lay out the Biden Administration’s vision for how this historic investment will help every community not only rebuild their loca...

Business Travel Stirs, But Many Road Warriors Stay Grounded

Monday, July 26, 2021

(AP News) Of the 2 million people clogging airport security lines and gate areas again each day, one crowd is still largely missing: business travelers. Their absence is noteworthy because they are a key source of revenue and profit, underpinning a record-breaking stretch of financial gain for U.S. airlines that ended with the coronavirus. Business travelers tend to pay higher fares, and that is especially true on international flights, which are also still deeply depressed by the pandemic and travel restrictions around the globe. Because their fares subsidize other passengers, their absence is leading to higher leisure fares on many routes, experts say. Busines...

Luncheon for UK Trade Secretary Provides Opportunity to Reiterate Shared Goals

Friday, July 23, 2021

(CalChamber) Technology, agriculture and the California and British economies were among the topics discussed when the California Chamber of Commerce hosted a small luncheon for Britain’s trade secretary on July 14. The Sacramento stop by the Right Honorable Elizabeth Truss, member of Parliament, was part of a five-day visit to the United States. The CalChamber luncheon included Secretary Truss; the Honorable Joe White, British Tech Envoy and Consul General in San Francisco; and James Crean, Head of Trade Policy at the British Consulate General San Francisco. (From left) CalChamber Board member Rick Fowler, U.K. Secretary Elizabeth Truss, Consul General Joe White, CalChamber Vice Presiden...

Travel Industry Poised to Boost California’s Recovery

Wednesday, July 21, 2021

(CalChamber) Summer is traditionally the most popular time for travel in California and with vaccination counts climbing and restrictions being lifted, 2021’s summer travel season is well underway. The state’s official re-opening June 15 kicked California’s economic recovery into high gear with restaurants, hotels, and attractions able to operate without imposed limits. From restaurants to resorts and theme parks to wineries, California’s tourism industry is beginning to witness a much-needed increase in activity and some pent-up demand for travel across the state. Statewide, hotels saw occupancy exceed 70% in June for the first time since March 2020. With virtually no restrictions remaining, California’...

What U.S. Companies Are Saying About Price Pressures

Wednesday, July 21, 2021

(Bloomberg) As the late U.S. Defense Secretary Donald Rumsfeld might have put it, the likelihood of this year’s surge in consumer prices proving “transitory,” as policymakers anticipate, is a known unknown. But the slew of corporate earnings statements and analyst calls are shedding some light on the outlook. The comments suggest price pressures aren’t about to fade. Chipotle Mexican Grill Inc., the restaurant chain that hiked wages earlier this year, said Tuesday it may raise its prices further. CFO Jack Hartung said the company has seen “no resistance whatsoever” to higher menu prices yet. Other recent comments, gathered by Olivia Rockeman and Peyton Forte, add to signs that businesse...

No Evidence of a California Exodus, UC Study Finds

Wednesday, July 14, 2021

(Orange County Register) Despite California losing a congressional seat for the first time in history due to slow population growth and some high-profile technology companies and billionaires leaving the state, there is no evidence of an abnormal increase in residents planning to move out of the state, according to a University of California survey released July 7. The research, which included UCLA, is part of a larger, multi-institution research consortium led by UC to assess whether there is in fact a “California exodus,” and to help inform state policy and public knowledge by focusing on state population patterns. Formed in fall 2020, th...

Why COVID Didn't Break California's Economy

Sunday, July 04, 2021

(Orange County Register) Texas had the nation’s second-worst economy at the start of 2021. I mention that stat — courtesy of the first quarter’s gross domestic product report — so we could collectively imagine that was California and how critics would crow about the state’s looming demise. To be honest, it’s also fun to toss a barb at the Lone Star State, a worthy competitor. For the record, California’s business output grew at a 6.3% annual rate in the year’s first three months — a mid-range performance as the state slowly reopened its economy. It ranked No. 29 among the states and was a smidgen belo...

In One Chart: GDP Growth by State as COVID Recovery Takes Hold

Thursday, July 01, 2021

(MarketWatch) The U.S. economy expanded 6.4% on an annualized basis in the first quarter, the Commerce Department said last month, as American businesses reopened and people got back to work after being largely locked down throughout 2020. But as with all economic data, the national headline number masks a lot of local discrepancies. The chart below, from the Bureau of Economic Analysis, released in late June, shows how much growth varies among the different states. California is somewhere in the middle with 6.3% increase in GDP. Nevada, heavily dependent on indoor tourist traffic, saw the biggest uptick in growth among all states in the firs...

California’s Love Affair with Cars Helps Keep Car Wash Industry in Tip Top Shape

Tuesday, June 29, 2021

(U.S. Census Bureau) For many Americans, after a house, their car, SUV, or pick-up truck is the second-most expensive item that they will purchase, and maintaining that investment on wheels is paramount. Because many see their cars as an extension of their personality, maintaining an image by keeping their cars clean also matters. While some may cherish pulling out a hose, wash mitt, and soap to give their “baby” a customized shine, others opt for a more convenient ritual: trips to the local car wash. According to the 2019 County Business Patterns program, there were 16,976 Car Washes with paid employees in the United States, 6.8% o...

The Travel & Tourism Industry Plays a Critical Role in Restoring the Economy

Tuesday, June 29, 2021

By Bryan Starr, President & CEO, Greater Irvine Chamber As published in the Orange County Business Journal, June 29, 2021 The COVID-19 pandemic caused global economic hardship with the travel industry being the hardest hit, even more so than it was during the Great Recession. Prior to the pandemic, travel spending in Irvine contributed nearly $781 million to the city’s economy, supporting nearly 6,000 jobs, and generating nearly $50 million in state and local tax revenue. In 2020 there was a nearly 57% decline in travel spending and a loss of approximately 1,570 jobs, proving just how important the economic impact o...

California Outpacing Nation in Employment Growth in 2021

Wednesday, June 23, 2021

(Beacon Economics) California’s labor market continued to expand at a rapid pace in May, according to an analysis released jointly with the UCR School of Business Center for Economic Forecasting and Development. Total nonfarm employment in the state grew by 104,500 positions over the month and California accounted for 18.7% of the 559,000 net jobs added in the nation. In addition to California’s strong monthly gains in May, April’s gains were revised up to 102,000 in the latest numbers, a +200 increase from the preliminary estimate of 101,800. Over the past four months, California’s economy has added close to 500,000 jobs, representing the fastes...

Not All Industries Experienced Declines During the Pandemic

Tuesday, June 08, 2021

(U.S. Census) Consumer habits shifted dramatically in March 2020 in response to stay-at-home orders and the shuttering of offices across the nation amid the COVID-19 pandemic. There were reports of people traveling less, workers gaining unprecedented freedom to work from anywhere and consumers ordering more products online. But did these lifestyle changes affect industries in the same way? Not according to a review of the seasonally adjusted 2020 quarterly revenue estimates published by the Census Bureau’s Quarterly Services Survey (QSS). We found that both couriers and messengers and offices of real estate agents and brokers ended the year with revenue above pre-pandemic levels from the last quarte...

Irvine Ranked Nation's 6th Top Entrepreneurial City for Small Business

Wednesday, June 02, 2021

Alliance Virtual Offices has ranked the most entrepreneurial cities in the U.S. based on access to resources to help small enterprises succeed. The group analyzed small businesses-friendly metro areas across the nation, "some due to their strategic geographic locations, others for the sheer number of growing industries, and others yet for the city or state’s favorable tax climates and initiatives." At number six, the report says: Irvine is the economic pulse of Orange County—and for good reason. Situated near other West Coast urban centers like Los Angeles and San Diego, this master-planned city is serious about business. Several Fortune 500 companies call it home, and it’s also a hub fo...

Orange County Expects Improved FY 2021-22 Budget, Spending $7.7 Billion

Wednesday, June 02, 2021

(Orange County Register) Orange County’s financial condition is much less dire than some feared it would be when the coronavirus pandemic shut down businesses, schools, and even some government services for months starting early last year. County supervisors will vote in June on a budget for fiscal year 2021-22 that would spend $7.7 billion, just a little less than where this year’s spending is expected to end up, at $7.9 billion. OC’s fiscal position is relatively healthy in part because the county had the tools already in place to be proactive, Chief Financial Officer Michelle Aguirre said. Once the pandemic hit last year...

Governor Newsom Proposes $95 Million for Travel and Hospitality Industry to Promote California as a Travel Destination

Thursday, May 27, 2021

Governor Newsom on May 13 announced he will propose a $95 million investment in his May Revise to fund an expansion of Visit California’s successful marketing campaigns. This funding is critical to the state’s travel and hospitality industry as the country reopens. Before COVID-19 hit, the travel and hospitality industry was one of the largest economic drivers—and the largest export—for California, the nation’s No. 1 tourism destination. In 2019, visitors spent $145 billion at California businesses, supporting 1.2 million jobs. “We thank Governor Newsom for understanding and championing the tourism industry,” said Emellia Zamani, director of government affairs for the California Travel Association...

The Case for California: Why Stories About the Golden State’s Demise Are Overblown

Friday, April 30, 2021

(Forbes) Paying $3,150 a month for a one-bedroom apartment is absurd — unless you’re living in San Francisco. For computer engineer David Berrios and his wife, it was worth it to live in this 49-square-mile technology paradise by the Bay. From their perch near Mount Olympus in the Corona Heights neighborhood, they could stroll down the hill to Haight-Ashbury or walk to a favorite jiu jitsu studio — or anywhere else in the city, for that matter. That changed a year ago, when San Francisco became the first major city in the country to lock down in the pandemic. A former NAS...

In Case You Missed It: Greater Irvine Chamber Business Outlook Presentation and Slides Available Online

Friday, January 29, 2021

Whether you missed the Jan. 28 live-streamed presentation of the 2021 Greater Irvine Chamber Business Outlook event, would like to revisit it, or share it with others, the complete presentation, program booklet, and Chris Schwarz’s slide deck can be accessed here: Business Outlook 2021.

Department of Commerce’s NTIA to Begin Accepting Applications for $268 Million Connecting Minority Communities Pilot Program

Wednesday, August 04, 2021

Ambassador of the Month Archive

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