OC ranks in top 20 in nation for post-recession recovery
As part of Area Development Magazine’s annual Leading Locations study, Orange County ranked #19 in the nation out of 379 metropolitan areas when it comes to regions which are emerging as front-runners in the post-recession era of economic development possibilities. The top metropolitan areas in the list demonstrate that a variety of strong individual drivers, or a combination of many factors, can move a metropolitan area’s attractiveness as a business site into the foreground. Orange County’s top twenty ranking marks a dramatic leap from 2013 when it was ranked #117 in the country. The San Jose-Sunnyvale-Santa Clara region topped the list, recognized for it’s large population of highly-skilled workers and venture capital investment.
With an unemployment rate of 4.9 percent, Orange County continues to be a leader in job creation and economic recovery, compared to the state’s 7.1 percent unemployment rate. Over the past year, Orange County added a total of 22,600 – which translates to 1.6 percent of the workforce. Between April and May 2014 alone, the county added 3,000 jobs with significant gains in a variety of industries, including leisure and hospitality at 2,200 jobs; and trade, transportation and utilities collectively adding 700 jobs. Since May 2013, the construction industry has consistently led the pack by adding 7,200 jobs or an 8.4 percent hike in employment in Orange County, compared to the state’s 7.8 percent jump. CLICK HERE for the entire list. To learn more about what makes Orange County a great place to do business, visit LocationOC.com. For more information, contact Matt Petteruto, Vice President, Economic Development.