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Business Climate Snapshot

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Diverse, Robust Economy

What makes Orange County a great place to do business? A quick look at the numbers shows how Orange County’s marketplace combined with its robust and diverse economy make Orange County a desirable place for employers to do business:

  • With over 3.1 million residents, Orange County is the 6th most populous county in the U.S.
  • If Orange County were a separate state, it would rank 30th in the nation based on the size of its population.
  • With a total civilian labor force of 1.6 million, Orange County enjoys a diverse economy, with economic output and employment well-distributed among sectors.
  • The county’s Gross Regional Product in 2018 was estimated to be $256 billion.
  • Orange County ranks 6th among the nation’s metro areas based on its Gross Metropolitan Product.
  • If Orange County were a separate country, it would be ranked 45th in the world based on the volume of gross production, just ahead of Singapore.
  • If Orange County were a separate state, it would be the 23rd largest based on Gross Domestic Product.
  • What else makes OC an ideal place for business? Check out the 20+ Reasons to Do Business in Orange County.

Low Unemployment Rate

Orange County’s economic strength is reflected in its low unemployment rate which consistently runs lower than that of the statewide average. According to the California Employment Development Department, as of July 2019, Orange County’s unemployment rate was at 3.2%; below the state average of 4.40%

Orange County’s low unemployment figures are just as impressive when compared against the five other Southern California counties:

 

Optimistic Outlook

Along with the strong economic numbers, the Orange County Business Expectations Survey (OCBX) shows that local businesses are optimistic about the economy. The third quarter reading for 2019 had an OCBX reading of 87.1 (a value of above 50 indicates expectations of continued economic expansion).  This is the highest value for the index since the third quarter of 2013.

County Overview

SCAG (Southern California Association of Governments) provides an overview of Orange County in their Profile of Orange County Report. Click Here to view the report. SCAG also provides an overview of Unincorporated Orange County. Click Here to view the report.

City Profiles

With over 30 cities in Orange County, each location provides a unique experience. SCAG provides a profile for each of the cities in the county.

Aliso Viejo Anaheim Brea Buena Park
Costa Mesa Cypress Dana Point Fountain Valley
Fullerton Garden Grove Huntington Beach Irvine
La Habra Laguna Beach Laguna Hills Laguna Niguel
Laguna Woods Lake Forest La Palma Los Alamitos
Mission Viejo Newport Beach Placentia San Clemente
San Juan Capistrano Santa Ana Seal Beach Stanton
Tustin Villa Park Westminster Yorba Linda

International Trade

California State University, Fullerton’s Mihaylo College of Business and Economics provides an overview and analysis of Orange County and Southern California exports. Click Here to view the report.

Nothing Rhymes With Orange

Orange County’s business community enjoys a long-standing culture of collaboration with pro-business leaders in local government helping to foster economic growth through innovative programs and policies that cut regulations, reduce fees and streamline processes.

This culture of collaboration is recognized by Orange County Business Council’s annual Turning Red Tape into Red Carpet Awards.

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