From Disneyland to business service venues, from high-tech conglomerates to unparalleled real estate opportunities, Orange County is at the forefront of economic opportunity with an unparalleled location at the center of one of the world’s largest markets, and a unique combination of high quality of life and vibrant business climate.
While originally the suburban bedroom community to Los Angeles, Orange County has emerged over the last fifty years as an urbanized hub of global importance, the economic engine of Southern California. However, as we approach the end of the first decade of the 21st Century, Orange County is in a much different place in its economic development life cycle than it was fifty, twenty or even ten years ago. Orange County is no longer about attracting population and businesses from outside the County to move into a new territory, but is instead becoming a place where success is dependent on retaining and growing existing businesses and economic clusters. Growing our own companies, jobs, and future workforce is how Orange County will succeed, rather than working to attract the resources from outside the county.
Economic Development Committee
The driving force to the economic dev
elopment initiative is the newly formed Economic Development Committee.
In re-launching its Economic Development initiative, the committee will concentrate on efforts to:
- Understand the tangible drivers of economic growth
- Understand the key opportunities
- Reduce risk factors in the local economy
- Implement a plan to harness and capture our share of growth
OCBC’s major goal is to foster job creation, increase private investment and enhance county revenues through the implementation of a countywide economic development strategy. The strategy focuses on maximizing the standard of living of the county’s residents, providing economic opportunities for the county’s businesses, fostering a competitive environment and positioning the county as a highly competitive region for business opportunities. The strategy will emphasize industry sectors with high-grow potential and offering high paying jobs.
Tools for Economic Development
Southern California Edison’s newly developed GIS Toolset (geographic information system) map visually denotes and lists available commercial/industrial properties and land parcels from San Diego County to Fresno based on data from the Association of Realtors (AIR). The product has many practical uses including business relocation, site information, for-sale properties and potential use for SCAG and other regional organizations when developing planning documents. The tool provides an array of useful, in-depth information, such as tax incentive zones and demographic data useful to business, economic development managers, developers, city planners and government agencies do their jobs. Check back often as Edison will continue to update the format and information available.
Let us know how you are using the GIS Toolset for your business. We’d also like to hear about any other tools that enhance economic development. Send a message to Dr. Wallace Walrod, Chief Economic Advisor, with your comments, queries and innovative ideas.
Community Indicators Report
In partnership with the Children and Families Commission of Orange County and County of Orange, OCBC provides research for the highly regarded Orange County Community Indicators Report. Modeled after successful programs in the state and nation, the Community Indicators Project serves as an ongoing and dynamic measurement tool which can support a variety of local and regional initiatives concerned with the well-being of the county.
Comprehensive Economic Development Strategy (CEDS)
The Comprehensive Economic Development Strategy (CEDS) provides the roadmap for government and the nonprofit community to collaborate more effectively in ensuring Orange County’s quality of life is available to everyone, particularly in qualified Red-Zone census tracts.
The CEDS is an economic development planning tool, in partnership with the Orange County Workforce Investment Board, which provides an opportunity for the County to understand the needs and ensure that collaboration occurs with Orange County municipalities. The data, maps and appendices include the most recent research available on high unemployment and low-income communities. The report presents economic and social indicators to create targeted economic development goals and objectives.
For more on OCBC’s Economic Development activities, contact Matt Petteruto.