Boon in Jobs from Irvine Complex Seen

Based on current and future construction through 1995, the 15.6 million square feet of space under construction and permitted in the Irvine Business Complex (IBC) is valued at $1,223,000,000 and will create 25,000 construction jobs.

“As the Irvine Business Complex becomes Orange County’s central business district, thousands of jobs are being created and billions of dollars pumped into the local economy,” according to Richard Ortwein, division president of the Koll Co. and one of the IBC consortium’s founding members. The recently formed consortium was organized by 11 Orange County commercial real estate developers.

Irvine Business Complex projects under construction and permitted in Irvine and Newport Beach are expected to provide 50,000 permanent jobs, with $1.8 billion of annual aggregate income from employees’ salaries.

Consortium members include Robert A. Alleborn Associates, Birtcher Pacific, Brinderson Ltd., Douglas Development Co., the French & McKenna Co., the Irvine Co., the Koll Co., the Legacy Cos./Daon Corp., McLachlan Investment Co., Prudential Realty Group and Trammell Crow Co. Additional participants, including hotels in Irvine, are expected to join in the program’s future phases, Ortwein said.