Irvine Inspired Showcases the City as Orange County’s Economic Engine
Friday, May 04, 2018
As recently promoted in the Orange County Register, Irvine is a vibrant center of technology, education, employment, and fiscal fitness.
“Irvine was master-planned to be an economic powerhouse,” said Bryan Starr, president and CEO of the Greater Irvine Chamber of Commerce. It’s part of the long-term vision of the city. All of that planning is coming to fruition.”
Irvine has evolved into a contemporary, multifaceted city that has more than 17,000 companies, employing some 250,000 people, resulting in a jobs-to-population ratio of 94.8 percent, the best ratio of all American cities of its size or larger.
From global companies locating their U.S. headquarters in the city to technology start-ups that attract capital investment, Irvine is an economic center of the 21st century. Its diversified economy includes industry clusters focused on innovation that include information technology, aerospace, automotive, advanced manufacturing, and digital arts and media. Today, 900-plus technology companies, including Broadcom, Blizzard, CoreLogic and Cylance, have offices or operations in the city, and more than half specialize in the life sciences and medical technology.
One of the most innovative Irvine-based companies is Edwards Lifesciences, the global leader in the science of heart valves and medical innovations for structural heart disease. Edwards, a Greater Irvine Chamber Leaders Circle member, is Orange County’s largest public company with about 4,400 of its more than 12,000 employees located in Irvine.
Companies like Broadcom, Edwards and others based in Irvine don’t just provide high-paying jobs. They and their employees pay taxes and contribute revenue that help support the city’s services and quality of life, including public safety, park maintenance and infrastructure improvements. Fortunately for Irvine residents and taxpayers, the city government that manages that revenue is recognized as one of the most fiscally fit in the United States.
Last year, The Fiscal Times gave the city of Irvine a perfect score of 100 in a study ranking the fiscal strength of 116 U.S. cities with populations greater than 200,000, based primarily on the strength of the city’s balance sheet. And this year the nonprofit group Truth in Accounting also named Irvine the best of the largest 75 municipalities in the country when it comes to financial health.
Category: Chamber News, Economic Development