IRVINE : City Economic Blueprint Unveiled
A plan aimed at bolstering economic development was unveiled Wednesday by city and business leaders who hope it will serve as a blueprint for improving Irvine’s sluggish economy.
The Economic Development Strategic Plan focuses on luring new companies to the city, retaining existing ones, creating skilled, high-paying jobs and reducing regulations.
Ideas for improving the business climate include marketing the city more aggressively both in Orange County and outside the state and luring more international companies and retailers to the city.
“I think the structure we have here is very solid,” said Terry Hartman, president of the Irvine Chamber of Commerce, which helped devise the strategic plan with the city. “I think it makes us competitive with other communities.”
The plan was discussed Wednesday morning at a Chamber of Commerce breakfast. Business leaders have long sought a public-private partnership focused on improving Irvine’s once-booming economy, which has been mired in a slump over the past few years.
Hartman said several firms have left Irvine for other states and that job creation has been slow. That combined with the statewide recession has created a grim economic situation that has hit City Hall, where dozens of people were laid off last year because of reductions in tax revenue.
Hartman and others hope the plan will help reverse this trend.
The 26-page document includes a list of Irvine’s strengths, including a prime location in the center of Orange County, close proximity to UC Irvine, an educated work force and open space available for business expansions.
“Irvine is 50% developed,” said Larry Larsen, executive assistant to the city manager. “For companies looking toward future expansion, we are an established community with opportunities for growth.”
Larsen said about 65% of the recommendations in the report are already being used in some form by the city, including a $20,000 fund for economic development. But he said the city might have to allocate additional money if a more ambitious promotion campaign is desired.
Helping to implement the plan will be a series of teams whose members will represent business, the city, local schools and UCI.
“I think we have the framework here, but we still need to put together a full program,” Hartman said.
Irvine Assets Irvine city officials and business people on Wednesday discussed a new plan to create jobs and improve the city’s business climate. Officials say these assets that might attract firms to the city: * Central county location near John Wayne Airport and several freeways * Plenty of vacant land that can be developed as businesses grow * Close to schools such as UC Irvine and Cal State Fullerton * A highly educated population, with more than half of residents college-educated * One of the county’s highest median household incomes * Presence of growth industries such as electronics, biomedical and medical devices Source: city of Irvine
