The Leading Voice of Business in Orange County                                                                                   Tuesday, June 28 , 2016
WHAT DOES THE BREXIT MEAN FOR OC? 
In the wake of the United Kingdom's Thursday vote to exit the European Union, also known as the "Brexit," little is known of the long term impact on the United States economy. As this is the first country to withdraw from the union and the country's Prime Minister David Cameron will be replaced in October, it is difficult to speculate what the particulars of the exit deal will look like. However, California has a lot at stake as the sixth largest economy in the world and the UK is the entry market into the European market for over 41,000 US exporters. Employment directly connected and supported by international trade currently accounts for over 170,000 jobs in Orange County, and has been growing more rapidly than the overall economy for the last decade. The UK has long been a key trading partner for both the county and the state. While OCBC will be monitoring the full impacts that will be played out and understood over the coming months and years, the importance of what goes on globally with our major trading partners will continue to be a significant factor that determines long-term economic health and job creation prospects of Orange County. CLICK HERE to read "Lansner: Here are 6 Ways Brexit could affect OC" for more on how Brexit could affect OC. For more info, contact Dr. Wallace Walrod, Chief Economic Advisor to OCBC. 
OCBC COMMENDS INCREASED FUNDING FOR HIGHER EDUCATION IN CA BUDGET 
Graduation
Gov. Brown signed a balanced $122.5 billion budget yesterday for the fiscal year beginning July 1. OCBC applauds that the Governor and lawmakers' negotiations resulted in all three of the state's public higher education systems receiving more funding as years of budget cuts have threatened California's ability to prepare students for a 21st century workforce. Over all, the UC system, which will get $3.3 billion from the state, will receive a $125.4 million increase. However, in order to receive an additional $18.5 million, it will need to enroll 2,500 more California residents and place a cap on out-of-state enrollment. Additionally, Cal State will receive a $148.3 million increase, and need to enroll 5,194 more California residents to receive an additional $12.5 million. OCBC strongly supports efforts to ensure our home-grown talent are able to attend college locally. The new budget also includes $200 million that will be set aside to improve workforce training and expanding the community college budget that will ultimately result in 50,000 more seats and expanded course offerings. For more information, contact Alicia Berhow, Vice President, Workforce Development. 
2016 OC COMMUNITY INDICATORS REPORT RELEASED! HOUSING, EDUCATION GAP, AND MORE!
With the release of the 2016 OC Community Indicators Report, it's clear that while OC continues to lead the region and state in economic prosperity, a handful of critical issues threaten future growth. Three major pivot points the report addresses are a lack of affordable housing, a persistent opportunity gap for Latino students, and a rise in childhood mental illness and obesity. While jobs in Orange County continue to grow, the four largest employment sectors tracked - Construction, Tourism, Business and Professional Services, and Health Services - do not have annual salaries high enough to qualify for an entry-level home. In terms of renting, only about one-third of Orange County jobs offer median wages high enough to afford a one-bedroom rental unit. Moreover, new housing construction is not keeping pace with the growing number of jobs. Among the county's diverse population, Latino residents are most impacted by poverty and lower educational attainment. Latino residents age 25 and older represent the lowest proportion of college graduates and the highest proportion of high school dropouts. In an alarming health trend, childhood obesity and mental health is growing rapidly. One-third of children are categorized as obese or overweight, and hospitalization rate for major depression grew 39 percent since 2003. The findings were released at an OC Forum event Wednesday, featuring a panel with OCBC's Lucy Dunn, United Way's Max Gardner, and National Core's Steve Pontell. CLICK HERE to view the full report. CLICK HERE for a story from The Orange County Register. For more information, contact Dr. Wallace Walrod, Chief Economic Advisor to OCBC.
OCBC OPPOSES A ONE CENT SALES TAX INCREASE IN WESTMINSTER
On Wednesday, June 22, the Westminster City Council voted to place a one-cent sales tax increase proposal on the November ballot. OCBC opposes this tax increase. In October 2015, the city created the Financial Task Force to develop long-term solutions to the budget crisis. That task force successfully served its intended purpose and presented the city with 35 different alternatives to the sales tax increase, none of which were considered. Suggestions included outsourcing some of the city's services, including having the OC Sheriff provide police services, which could reduce costs along with the selling or leasing of the city's water utility, which would generate additional general funds. In addition, various revenue enhancing measures including marketing of the current ambulance subscription program, reducing delinquent accounts for ambulance services and the expansion of the city's business license inspection program would all be avenues of providing additional income. OCBC urges the Westminster City Council to exhaust all remedies advanced by the task force before resorting to an additional tax and urges voters to consider this in November. Implementation of an additional sales tax would result in a larger shortfall of sales tax revenues and an increase in job lossesFor more information, contact Bryan Starr, Senior Vice President, Government Affairs. 
OCBC HONORED NATIONALLY FOR HOUSING SCORECARD OUTREACH AND EDUCATION
OCBC was honored by the Association of Chamber of Commerce Executives with the Award of Communications Excellence for efforts made last year educating the county and state on the impact of the housing shortage and economic development.  OCBC will be honored at the ACCE Annual Convention in August along with other chambers across the nation for campaign excellence. Orange County's future prosperity hinges on the region's ability to create a healthy, prosperous economy that promotes both jobs and housing, not one at the expense of the other.  To help propel this discussion and encourage progress, OCBC produced the 2015 Workforce Housing Scorecard and presented the findings across the county to cities and planning agencies. OCBC also partnered with OCAR to produce an educational video to promote further, and become the go-to voice on housing issues within the Southern California as a result of the outreach efforts. For more information, contact Delaine Moore, Director of Communications. 
YOU WON'T WANT TO MISS THIS! OCBC'S FORUM TO DELVE INTO SHARING ECONOMY - AUG. 4
Are you ready for social solutions to economic challenges? And what is government's role in the new economy? Join OCBC for the 2016 Economic Development Forum, Innovating Business: The Sharing Economy. We'll delve into the industries most affected by the rise of the sharing economy and understand how residents, local government and traditional and non-traditional businesses can work together moving forward. The event will feature Dr. Wallace Walrod, Chief Economic Advisor to OCBC, who will provide a snapshot of the sharing economy, as well as a panel discussion with Uber, Lyft, WeWork, and Airbnb (invited). Sponsor opportunities available!

DATE: Thursday, August 4, 2016 TIME: 7:30 a.m.-10:00 a.m.
WHERE: Hotel Irvine  I  17900 Jamboree Rd., Irvine, CA

JOIN OCBC TO DISCUSS SOLUTIONS TO OC'S WIDENING SKILLS GAP - JULY 20
Join OCBC July 20 for the "New Skills at Work Forum," presented by JPMorgan Chase, discussing solutions to Orange County's widening skills gap in the workforce. While Orange County continues to be the economic engine driving the Southern California forward, employers increasingly struggle to fill certain occupations with qualified individuals. As job growth continues to gain momentum, this Skills Gap could limit economic growth, job creation, and business competitiveness. OCBC's Chief Economic Advisor Dr. Wallace Walrod will present findings of the report "Closing Orange County's Skills Gap: Preparing to Meet Employer Demand," highlighting the county's skills gap and how filling Middle-skill jobs in particular will help close the gap and get more people back to work. Followed by a panel discussion of regional business and academia leaders to discuss the skills gap impact on the local economy and what skills are needed to fill vacant positions. Panelists coming soon!

DATE: Wednesday, July 20, 2016 TIME: 7:30am-9:30am
WHERE: Irvine Valley College Performing Arts Center  I  550 Irvine Center Dr., Irvine, CA

FORUM ENCOURAGES PUBLIC COMMENT TO FIX REGIONAL TRANSPORTATON
On Monday, the Transportation Corridor Agencies (TCA) held a Public Forum at the Laguna Niguel City Hall to discuss solutions for regional mobility. OCBC's Lucy Dunn, President and CEO, and Bryan Starr, Sr. Vice President, Government Affairs, joined more than a hundred residents who attended the forum in person and more than a hundred online participants for the live stream. The forum included presentations on the TCA public review process, demographics by CSUF, long range planning by the Southern California Association of Governments and by OCTA, as well as South OC mobility challenges. Interactive group discussions and participants documented their ideas for South County mobility solutions. TCA will analyze the ideas generated by all participants and discuss findings at a subsequent public forum this Fall. CLICK HERE 
to view the presentations, watch a recording of the public forum or send comments. Your input is important. 
For more information, contact Bryan Starr, Sr. VP, Government Affairs.
 
GOVERNOR, LEGISLATURE CAN'T FORGET ABOUT CRUMBLING HIGHWAYS
 

The Legislature wrapped up another on-time budget that includes more money for a wide array of social programs, but we can't help but wonder why lawmakers have so far overlooked California's crumbling transportation infrastructure. We have underinvested in transportation for decades. The state gas tax was last increased in 1994, and that 18 cents per gallon is only worth 8 cents today. Coupled with cars that use far less fuel, that has dramatically reduced the money available to take care of our existing system. CLICK HERE to read more. 

COMMITTEE APPROVES $46.7 MILLION IN TAX CREDITS FOR 67 CA COMPANIES
On June 16, the Governor's Office of Business and Economic Development (GO-Biz) announced that the California Competes Tax Credit (CCTC) committee approved $46.7 million in tax credits for 67 companies expanding and creating jobs in California. The awards will help these companies create a projected 4,235 jobs and generate over $1.3 billion in investment across California. The complete list of companies and award amounts can be found here. In 2013, the CCTC was created by Gov. Brown to focus on helping businesses grow and stay in California. This fiscal year, GO-Biz allocated approximately $160 million to 259 companies that are projected to create over 20,000 jobs and make almost $3.2 billion in investments. Businesses interested in applying for the CCTC can do so starting in July by filling out an online application here. For more information, contact Jocelin Jimenez, Economic Development Specialist. 

OC REGISTER CALL FOR NOMINATIONS FOR OC'S TOP WORKPLACES
The Orange County Register is inviting employees from leading OC-based companies to help identify the county's mots inspiring companies that deserve recognition as Top Workplaces. The Register publishes its ninth annual Top Workplaces magazine in early December and hosts its annual Top Workplaces event on Dec. 8 at City National Grove in Anaheim to celebrate companies that have inspiring leaders, great benefits and winning cultures. A company must have 35 or more workers. CLICK HERE to check out last year's winners. CLICK HERE to fill out a brief questionnaire and nominate a company by the July 15 deadline. For more information, contact Delaine Moore, Communications Manager. 
MEMBERS IN THE NEWS
POLITICAL CORNER  
Political Corner events are for informational purposes only and are not necessarily endorsed by OCBC.

Reception supporting Jim Leach for South Orange County Community College District - Tuesday, June 28
Join a cocktail reception at 5:30pm June 28 at the home of Janet and  Michael Hamilton to support Jim Leach for South Orange County Community College District Trustee. CLICK HERE for more information. 
COMMUNITY EVENTS    
Orange County Forum's Housing Outlook - Thursday, July 14
Join OC Forum at 11:30 a.m. Thursday, July 14 at Hilton Irvine for a Housing Outlook featuring Emile Haddad, FivePoint Communities and Larry Webb, New Home Company. CLICK HERE for more info. 

UCI Veteran Center Talent Recruitment & Retention Bootcamp for HR Professionals - Monday, July 18
The OC Communication Foundation's study indicates only 50 percent of Post 9/11 and only 30 percent of pre-9/11 Veterans are working full-time. Join UCI for a bootcamp to address this issue 8 a.m. to 4:30 p.m. at UCI Student Center Pacific Ballroom. CLICK HERE for more info. CLICK HERE to sponsor.

2016 OC Infrastructure Report Card - Tuesday, July 21
Save the date for ASCE's 2016 OC Infrastructure Report Card release from 7:30 a.m. to 11:30 a.m. at Irvine City Hall. CLICK HERE for more information. 

Trade X-Trade Connect - Tuesday, August 9, 2016
Save the date for this no-cost TradeX event, which is a gathering of resources, discussions and demonstrations of innovations, fostering a new global view for American businesses, turning entrepreneurs into exporters. The event takes place 1:30 to 4:30 p.m. at Norman P. Murray Community Center in Mission Viejo. CLICK HERE for more info. 

Opening Doors and Minds Manufacturing Day - Friday, October 7
Join the local Manufacturing Extension Partnership Center for Manufacturing Day, which addresses misconceptions about the manufacturing industry and allow students to connect with manufacturers. Sign up today so that your organization can be recognized! CLICK HERE for more information. 

The Cost of Not Housing - Tuesday, October 11, 2016
Save the date for California Housing Summit "The Cost of Not Housing" from 8 a.m. to 3 p.m. Tuesday, October 11 at LA Hotel. There is a chronic shortage of housing throughout California and major institutions, employers, and startups cite lack of housing options as a serious impediment to recruiting and retaining talent. CLICK HERE for more info. 
UPCOMING OCBC COMMITTEE MEETINGS: JUNE/JULY
Economic Development
Note Location: 3 Park Plaza, Suite 250, Irvine, CA
Wednesday, June 29, 2016  I  9:00 a.m. to 10:30 a.m.
 
Infrastructure
Tuesday, July 12, 2016  I  7:30 a.m. to 9:00 a.m.

Cybersecurity Task Force  
Wednesday, July 27, 2016  I  8:30 a.m. to 10:00 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 2016 check out OCBC's Committees. For more information, contact Larry Brose, Vice President, Investor Relations and Business Development. 
GET CONNECTED ONLINE WITH OCBC 
Do you tweet? Have a Facebook page or surf YouTube? Then follow the latest news and information from OCBCsocial media online. Follow us on Twitter. Like our Facebook page. Tune into our YouTube channel. Check out OCBC's blog: Dunn and Done. Or visit our newest website, LocationOC.com.

If you have questions on how to get connected with OCBC online, contact Delaine Moore, Communications Manager, at 949.794.7220 or dmoore@ocbc.org.
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OC's housing shortage affects workforce and economy
OC's housing shortage affects workforce and economy
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