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Irvine Chamber of Commerce Releases Fourth-Annual Community Report

Publication Reveals Insights on Irvine's Business Success and Economic Vitality

IRVINE, CA -- (Marketwired) -- 02/10/14 -- The Irvine Chamber of Commerce has released its fourth-annual Community Report, a thorough summary of Irvine's local economy and business landscape in 2013. With the sections Irvine Snapshot, Economic Vitality, Business Survey, Destination Irvine, Irvine Thriving and Leadership, the in-depth review confirms the city's creative and dynamic business climate, well-poised for future growth and development.

"In 2013, we saw improvement in our city's local economy, even with the struggles faced by the U.S. economy as a whole," said Tallia Hart, president and CEO of the Irvine Chamber. "Many Irvine businesses are thriving and remain optimistic about the city's future and financial success. At the Chamber, we are committed to leading Irvine in taking full advantage of the economic surge with globally competitive businesses and a positive economic climate."

Irvine Snapshot

The Community Report verifies Irvine as strong, resilient and experiencing a well-planned growth. The city's strengths are illustrated in its impressive industry clusters, largest employers, educational attainment, cultural diversity, median income and workforce deployment. Professional, Scientific, Management, and Administrative and Waste Management Services led the industry clusters, while the median household salary totaled $84,950. With a population of 229,985, Irvine is an exemplary example of cultural diversity. It is this diversity that strengthens Irvine and generates international investment.

Economic Vitality

Irvine boasted notable economic vigor in 2013, with an unemployment rate among the lowest in California at 4.6%. The city's strong position in the state, national and global economy is enhanced by the Irvine Chamber's ability to work collaboratively, and effectively leverage resources and assets. Specifically, re-energizing and re-tooling its Economic Vitality Council to perform optimally for members and Irvine businesses was a top priority in 2013. Three committees -- Business Attraction, Business Retention & Expansion, and Economic & Workforce Development -- and 10 task forces are now engaged in exploring and recommending various solutions for continued economic enhancement.

Business Survey

Surveying more than 200 Irvine businesses and companies, the Irvine Chamber gathered a myriad opinions and perspectives on doing business in Irvine. While concerns lingered about the overall state of the economy, most respondents were extremely positive in their outlook. Seventy-six percent of respondents were completely or very satisfied with doing business in Irvine. The reported top three success factors of doing business in Irvine were: access to customers, business climate and Irvine's central location.

Destination Irvine

"Destination Irvine" continues to sell, market and promote the destination of Irvine, its hotels, attractions, shopping, dining and outdoor activities to Californians and the Western states. Major achievements for Destination Irvine in 2013 included: developing leads for and working with hotels to bring 32 group meetings for a total of 6,840 room nights; coordinating the Third-Annual Irvine Restaurant Week, with more than 36 restaurants participating, doubling the 2012 participation; producing 60,000 copies of the 2013-2014 Irvine Visitors Guide; and increasing Facebook followers by 435 percent.

Irvine Thriving

The Community Report corroborates Irvine's continued trajectory, climbing past the recession and growing at a faster pace than other parts of the country. In the last year, 50 companies with more than 50 employees opened business in Irvine, with professional services, IT and digital media, advanced manufacturing and healthcare dominating. The Irvine Chamber also focused on growing small businesses in 2013, working with top industry experts to produce more than 48 free business webinars. In addition, the Irvine Chamber increased its global reach, offering free Global Marketing Webinars as well as hosting international delegations from the Republic of China, Taiwan, Korea, Malaysia, Hong Kong and Vietnam.

Leadership

Leaders behind the Irvine Chamber of Commerce include major businesses, news media, financial institutions, medical entities, and more. For additional information about the Irvine Chamber, please visit www.irvinechamber.com.

About the Irvine Chamber of Commerce

The Irvine Chamber of Commerce is one of the most influential Chambers in Orange County, representing more than 800 businesses in the area. The Irvine Chamber's mission is to promote an economic climate that strengthens the competitiveness of local businesses while offering members a wide range of benefits, services, programs and information. The organization serves as a catalyst for local economic growth by: promoting the city as a dynamic business and tourism destination; providing valuable training and networking opportunities; and advocating for the interests of the business community with federal, state and local officials. The Irvine Chamber remains the largest business organization in Orange County and one of the most innovative in the nation, and has received a Four Star Accreditation with the United States Chamber of Commerce. For more information, visit www.irvinechamber.com.

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