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Orange County Economic Development: Insights from Dr. Wallace Walrod, PhD

Dr. Wallace Walrod, Vice President of Research & Communications at the Orange County Business Council, provides a comprehensive overview of Orange County's economic development landscape. He discusses key aspects such as world trade, the economic and business climate, as well as the significance of tourism and entertainment in the region. Dr. Walrod's insights shed light on current trends and forecasts, offering valuable information for businesses and stakeholders looking to thrive in Orange County.

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Orange County Economic Development: Insights from Dr. Wallace Walrod, PhD

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  1. Orange County Economic Development Overview Dr. Wallace Walrod, PhD Vice President, Research & Communications Orange County Business Council
  2. World Trade Economic & Business Climate
  3. World Trade Economic & Business Climate 4
  4. Tourism & Entertainment Economic & Business Climate
  5. High Tech Cluster Diversity
  6. Business and Professional Services Management and Administration (sub-cluster) Construction Finance, Insurance, Real Estate Healthcare Information Technology Logistics and Transportation Transportation (sub-cluster) Manufacturing Advanced Manufacturing (sub-cluster) Hospitality and Tourism Hospitality (sub-cluster) Emerging Clusters Biotechnology and Nanotechnology Energy, Environment and Green Technologies 2008 Workforce Clusters
  7. Orange County Cluster Employment -- 2007
  8. Patent Grants
  9. Patent Grants
  10. Venture Capital
  11. Business Climate Economic & Business Climate
  12. Rank Educational Attainment 29 Job Growth 64 Cost of Doing Business 184 Overall 92 Business Climate Orange County Ranking by Business Climate Component, 2008
  13. Cost of Living Linkage Young Adult Exodus Young adults continue to leave Orange County, likely in search of a lower cost of living elsewhere. Economic & Business Climate
  14. Workforce Housing Workforce Development Infrastructure …………….What’s Next? Orange County Business Council Core Initiatives
  15. Orange County’s unemployment rate currently stands at 5.7% in September 2008, up from 4.2% a year ago and 3.4% in 2006 The financial and construction sectors accounted for nearly 2/3rds of job losses in the last year Median home prices are down 28% in the last 12 months Recent Economic Challenges
  16. San Diego County’s current unemployment rate is 6.4%, with median home prices down 33%. Orange County has nearly 200,000 more jobs with approximately the same population Los Angeles County’s unemployment rate is 7.8% versus 4.9% a year ago, with median home prices down 35% San Bernardino County’s unemployment rate is 8.5%, Riverside County’s is 9.5%, with median home prices down over 39% How Our Neighbors Have Fared
  17. In 1990, Orange County’s unemployment rate stood at 3.5%, rising to 5.3% in 1991, 6.7% in 1992, and peaking at 6.9% in 1993 From then on, the Orange County economic engine began to create jobs, jobs, jobs Beginning in the latter half of 1993, by 1999 Orange County created over 230,000 jobs taking the unemployment rate down to 2.7% OC Has Been Here Before
  18. Thank You!
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