The Leading Voice of Business in Orange County Tuesday, January 27, 2015
STEADY GROWTH, LOW UNEMPLOYMENT PREDICTED FOR OC IN 2015
The Orange County economy is showing solid signs of continued growth. Currently, OC's unemployment rate is at 4.4 percent and research indicates that the unemployment rate will likely remain in the mid 4 to 5 percent range throughout 2015, according to Dr. Wallace Walrod, Chief Economic Advisor to OCBC. People who had been sitting on the sidelines for the past few years are now reentering the workforce and the Health and Construction sectors are seeing the most prominent growth. The Orange County Business Expectations Index (OCBX), which is a measure of the overall view of the economy, rose from 85.7 in the last quarter in 2014 to 91.5 in the first quarter of 2015 -- a reading of above 50 indicates future growth in the economy. Consumer sentiment is also on the rise with debt levels falling. CLICK HERE to read more about the economy in an article in the Orange County Register. For more information, contact Dr. Wallace Walrod, Chief Economic Advisor to OCBC.
OC ENTREPRENEURIAL SPIRIT REMAINS STRONG
Two recently released reports reflect the continuing strength of Orange County's entrepreneurial climate. Orange County companies received $702.3 million in venture capital funding in 2014, marking a 1 percent increase from 2013, as reported by the Orange County Business Journal. Funding was provided across a total of 65 individual deals, which is the highest in at least five years. In addition, 3,520 U.S. patents were granted to Orange County companies in 2014, marking a 12 percent increase over 2013, outpacing the U.S. average of 8 percent. Several OCBC members were among the companies receiving the largest number of patents in 2014 including Western Digital (368), Allergan (189), Edwards Lifesciences (53) and Oakley (32). To learn more about what makes Orange County a bastion for entrepreneurialism, visit LocationOC.com. For more information, contact Matt Petteruto, Vice President, Economic Development.
LUCY DUNN AND BOB ALVARADO HEAD STATE'S TRANSPORTATION COMMISSION
On Friday, Lucy Dunn, President and CEO, Orange County Business Council, was elected to Chair of the California Transportation Commission. While Bob Alvarado, Executive Officer, Northern California Carpenters Regional Council, was elected as Vice-Chair. Currently serving in their second and third term as commissioners, Dunn and Alvarado bring a wealth of experience to the positions and are steadfast advocates for increasing efficiencies and investment in construction, management, and maintenance of the state's infrastructure system."California's economic prosperity relies on a well-maintained and well-funded transportation system," Dunn said. "As the world becomes increasing interconnected, the ability to efficiently and effectively move people and goods is more important than ever before, and remains a top priority for the business community. I am honored to serve as Chair and look forward to continuing the good work already being done to implement innovative, sustainable solutions that will move California's economy through the 21st century and provide a high quality of life for all who live here." CLICK HERE to read more. For more information, contact Bryan Starr, Senior Vice President, Government Affairs.
PORT OF LONG BEACH SEES THIRD-BUSIEST YEAR EVER
Overall volume for imports at the Port of Long Beach rose 1.8 percent and cargo container trade climbed 1.3 percent. These increases indicate continued economic growth for the U.S. and account for the port's third-busiest year ever behind the peak years of 2006 and 2007. However, while imports have increased, exports declined 5.9 percent and empty containers, which are sent overseas to be loaded with cargo, rose 8.2 percent. Port officials attributed the growth in 2014 overall to strong relationships with the shipping industry. However, the rise in trade and an improving economy has also had an impact on the rising congestion at the port, in addition to the lack of truck chassis used to move cargo. CLICK HERE for an updates on port activity. For more information, contact Matt Petteruto, Vice President, Economic Development.
HOW WILL YOUR BUSINESS SECURE ITS FUTURE IN THE DIGITAL AGE? 2015 ANNUAL DINNER - FEB. 19
How will your business secure its future in the digital age? Join OCBC for the 2015 Annual Dinner, under the theme "Secure the Future," featuring keynote speaker Steve Milligan, President and CEO, Western Digital. Milligan is a true computer industry insider who has also served as President and CEO of Hitachi Global Storage Technologies. Don't miss his insights on protecting your private and corporate identity and brand integrity in the digital age. Also invited to speak is Senator Dianne Feinstein, Chairman, Senate Select Committee on Intelligence. During the gala event, OCBC will recognize outgoing 2014 Chairman Les Card, LSA Associates, and install the 2015 Board of Directors, led by incoming Chair Laura DeSoto, Experian.
WHEN: Thursday, February 19, 2015 TIME: Reception 5:30 p.m. I Program 6:45 p.m.
WHERE: Event location changed from Hotel Irvine, location is TBD
TICKETS: OCBC Member $250 I Non-Member $350 I Sponsorships available
For more event and sponsorship opportunities information, contact Sabra Benes, Events Manager.
CALIFORNIA ECONOMIC SUMMIT UNVEILS ROADMAP TO PROSPERITY
The California Economic Summit has released the Roadmap to Shared Prosperity, which is a broad set of proposals aimed at helping every region in California concentrate its efforts to accelerate middle-class job growth and address issues from growing income inequality to the environmental and economic challenges of climate change. The Roadmap presents a five-year plan grounded in public and private sector commitments to the "triple bottom line," which includes simultaneous growth in the economy, improvement in environmental quality, and increased opportunity for all. CLICK HERE for a copy of the Roadmap. CLICK HERE for more information the California Economic Summit. For more info, contact Matt Petteruto, Vice President, Economic Development.
GINA MARIE LINDSEY COMMENTS ON LAWA/ONT NEGOTIATIONS AT OCBC'S FIRST 2015 CLB
On January 20, OCBC hosted the first Chairman's Leadership Breakfast of the 2015 series, which featured Gina Marie Lindsey, Executive Director, Los Angeles World Airports (LAWA). Interviewed by Manatt, Phelps and Phillips' Tom Phelps, Chair of OCBC's Chairman's Leadership Caucus, Lindsey answered questions about her distinguished career in the aviation industry, and offered comments on the ongoing negotiations centered on LAWA relinquishing control of Ontario International Airports (ONT). "I don't see any reason why Los Angeles World Airports needs to continue ownership of Ontario," Lindsey said. "However, the airport is an asset to the city and it all comes down to negotiating a price." ONT's air traffic has been declining for some time, with a recent report indicating that it is resulting in a $2.6 billion loss to the regional economy. CLICK HERE for a video. For more information, contact Delaine Moore, Communications Manager.
GGUSD BOARD OF EDUCATION UNANIMOUSLY APPROVES TERI ROCCO APPOINTMENT
Congratulations to Teri Rocco, Latino Educational Attainment (LEA) Executive Committee Member on her provisional appointment to the Garden Grove Unified School District Board of Education (GGUSD). Rocco has been a valuable coalition member of LEA for over 10 years, and has continued to serve LEA after her retirement from her role as Supervisor of Parent and Community Outreach in 2014. The LEA program works to educate parents from various languages and cultural backgrounds on how to take an active role in the success of their students' education. In her new role as a member of the GGUSD Board of Education, Rocco will continue her outreach work to ensure that the LEA program continues in the 70 schools in which she implemented the program. CLICK HERE for more information regarding LEA. For more information, contact Alicia Berhow, Vice President, Workforce Development and Advocacy.
TOLL ROADS REACH ONE MILLION MILESTONE
The One-Time-Toll online payment option, which allows drivers to pay tolls within five days after their trip on the 73, 133, 241 or 261 Toll Roads in Orange County, reached a major milestone on January 17 -- more than one million toll payments have been made online and through The Toll Roads app. In May 2014, The Toll Roads ended cash toll collection with all tolls being paid electronically with a FasTrak transponder account, an ExpressAccount that records tolls with license plate photos or One-Time-Toll, which does not require the driver to have an account and is ideal for infrequent toll road users and visitors. After receiving feedback from customers, the One-Time-Toll payment period was recently extended from 48 hours to five days. CLICK HERE for more information on The Toll Roads. For more information, contact Bryan Starr, Senior Vice President, Government Affairs.
BALANCING JOBS AND HOUSING - LEARN MORE AT OCBC'S 2015 WORKFORCE HOUSING FORUM
Join OCBC for the 2015 Workforce Housing Forum, where Chief Economic Advisor Dr. Wallace Walrod will present the 2015/2016 Workforce Housing Scorecard. Using city data, Dr. Walrod compares and contrasts how Orange County cities are balancing jobs creation and adequate supply of housing.
WHEN: Tuesday, March 31, 2015 TIME: Reception 7:30 a.m. to 9:30 a.m.
WHERE: 16200 Sand Canyon Avenue, Irvine, CA
TICKETS: OCBC Member $75 I Non-Member $120 I Sponsorships available
For more event and sponsorship opportunities information, contact Sabra Benes, Events Manager.
OCBC AROUND THE COMMUNITY
On January 14, Matt Petteruto, Vice President of Economic Development, spoke before the Realtors Commercial Alliance of Orange County (RCAOC). Among the topics discussed, Petteruto briefed the group on OCBC's mission, recent Red Team business retention successes, Turning Red Tape Into Red Carpet Awards, and LocationOC.com. RCAOC exclusively serves the specialized needs of the commercial real estate industry in Orange County and is composed of licensed brokers, salespersons and trade affiliates. For more info, contact Matt Petteruto, Vice President, Economic Development.
On January 17, Lucy Dunn joined Newport beach Chamber of Commerce President Steve Rosansky on a panel discussing OC's business climate in 2015 at the "Leadership Tomorrow" workshop in Costa Mesa. Dunn and Rosansky spoke to attendees about the issues facing the county, including the need to build for future transportation and housing demands, economic development efforts to attract and retain business in the county, and how to keep young talented workers in the county. The panel was part of the larger full-day series which featured a media panel with OCBC board member Steve Churm of the OC Register. For more information, contact Delaine Moore, Communications Manager.
On January 23, Matt Petteruto, Vice President of Economic Development, provided opening remarks at the California Competes Tax Credit workshop held for Orange County businesses. Over 50 small, medium and large businesses were in attendance to receive instruction on how to apply for a tax credit program available from the state. From now through February 2, GO-Biz will be accepting applications for the second round of California Competes Tax Credits for FY 2014 - 2015. CLICK HERE for a flier with additional information on the California Competes Tax Credit. For more information, contact Matt Petteruto, Vice President, Economic Development.
Bid Invite for Caltrans 07-2W7704
Myers and Sons Construction LP is requesting bids from all qualified subcontractors, trucking firms and suppliers to work on an upcoming heavy highway project. The project involves treating bridge decks with methacrylate and replacing joint seals and is estimated at about $490,000 including all scopes of work. CLICK HERE for more information.
Salute Bob Hope USO - Saturday, January 31
Join American Legion Auxiliary Newport Harbor Unit 291 for the Salute to Bob Hope USO, Orange County event at 5 p.m. Saturday January 31, 2015 at the Radisson Hotel in Newport Beach. It is cocktail attire and guests will be treated to a silent auction, Italian buffet and dancing. Cost is $45 per person and all proceeds to Bob Hope USO Orange County. CLICK HERE for more information.
AACCLA's "Outlook on the Americas" Luncheon & Conference - Wednesday, February 11
The Association of American Chambers of Commerce in Latin America's Luncheon and Conference is the first major hemispheric business event of 2015 and will provide an opportunity for dialogue on the economic and political issues that will impact hemispheric trade and investment. Join AACCLA on Wednesday, February 11, 2015 from noon to 5:30 p.m. a the Omni Los Angeles Hotel. CLICK HERE for more information.
Chancellor Doffoney Retirement - Thursday, February 12
Save the date for Dr. Ned Doffoney, Chancellor of the North Orange County Community College District, has announced his retirement and his celebration will take place Thursday, February 12, 2015 at the Sheraton Anaheim Hotel. For more information, contact Julie Schoepf.
Road to Reinvention: Leadership in the Digital Age - Thursday, March 19
The Center for Digital Transformation is hosting its first signature conference "Road to Reinvention: Leadership in the Digital Age" at 8 a.m. Thursday, March 19, 2015 at the Arnold and Mabel Beckman Center for National Academies of Science and Engineering adjacent to the UC Irvine campus. The conference is designed to help you reflect on your journey in an evolving digital world. Registrants may receive a $100 discount when using the registration code '4OCBC.' CLICK HERE for more information.
UPCOMING OCBC COMMITTEE MEETINGS: FEBRUARY
Economic Development Committee Meeting
Wednesday, January 28, 2015 I 9:00 a.m. to 10:30 a.m.
Government Affairs Committee Meeting
Friday, February 6, 2015 I 9:30 a.m. to 11:00 a.m.
Infrastructure Committee Meeting
Tuesday, February 10, 2015 I 7:30 a.m. to 9:00 a.m.
Latino Educational Attainment Committee Meeting
Thursday, February 12, 2015 I 9:00 a.m. to 10:30 a.m.
Committee meetings are open to OCBC members and invited guests only. All committee meetings are held at the OCBC offices unless otherwise specified. For more information on upcoming committee meetings for 2014 check out OCBC's Committees. For more information, contact Larry Brose, Vice President, Investor Relations and Business Development.
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