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 out of Irvine. In fact, in the past year, only one company has chosen to relocate out of Irvine. Other statistics supporting Irvine’s status and business stability include:
- For the third consecutive year, Irvine has ranked #1 in fiscal strength among the 75 largest cities in America, with a surplus of $4400 per taxpayer. Irvine was one of only 12 cities with a surplus score.
- Irvine is ranked a Top 10 City in economic potential, connectivity, human capital, and lifestyle by fDI Intelligence. Irvine ranked fifth highest overall.
- The Irvine tech sector ranks seventh in the nation by number of STEM workers.
- Irvine accounted for nearly 36,000 jobs or 20% of the nearly 200,000 increase in Orange County employment between 2001 and 2018.
- Irvine’s total number of jobs increased 17.7% between 2007 and 2017, with:
- Manufacturing jobs up by 38.4%
- Retail trade jobs up by 5.2%
- Professional and management jobs up by 5.2%
- Just over 70% of Irvine residents earned a college degree – more than double of California (33.1%).
- 72% of UCI graduates between 2013 and 2017, stayed in Orange County for employment.
- The 21-34 age segment in Irvine added the most population between 2000 and 2018, a prime life stage for career and family growth.
Starr pointed out that the Irvine Master Plan, set into motion 60 years ago, ensured that a balance of jobs, education, housing, infrastructure, and unparalleled lifestyle amenities, would sustain the city’s economic strength.
Category: Chamber News, International Trade, Economic News