Why is Orange County Good For Business?
Whether you’re a business owner already or you’re looking to kick start a brand new business, you may be wondering why Orange County would be a good place to do it. Orange County happens to be a thriving area of the state in which to do business, thanks to its diverse market, low unemployment rate, high household income and attractive real estate investment market.
In fact, Orange County is a state leader when it comes to job creation, with more than 23,000 jobs added year-over-year, as well as an unemployment rate that is consistently lower than the rest of the state and nation. The largest employer in OC is the Disneyland Resort, with more than 30,000 employees.
This diverse population is home to more than three million people, making it the sixth largest county in the country. It has a civilian labor force of 1.6 million, featuring a diverse economy that is well-distributed among all sectors. Plus, it’s got a high quality of life, featuring 42 miles of coastline, beautiful weather, world-class amusement parks, shopping, dining, entertainment, recreation, open spaces, arts and culture.
But these are just a few reasons why you should set up shop in Orange County, whether you choose to settle in Anaheim, Brea, Costa Mesa, or Cypress. Here are many more.
With San Diego County to the south, Los Angeles County to the north, and the counties of Riverside and San Bernardino to the east, Orange County is primed as one of the most thriving economic locations on the planet.
The OC is certainly an ethnically diverse region, with a “majority minority” population featuring a larger proportion of foreign-born residents than you will see either in the national or state average.
Consistently lower than that of the state and nation, the unemployment rate in the last five years has been one of the lowest in the state.
Some of the major employers within Orange County include:
- The Walt Disney Company
- University of California, Irvine
- County of Orange
- St. Joseph Health
- Kaiser Permanente
Orange County is arguably one of the richest counties in the nation, with a median household income of $96,000, higher than the averages for California and U.S. households. The median property value is $725,000.
Orange County is the third most diverse in the country when it comes to hosting high-tech businesses within its borders. In fact, its 16 high-tech industries boast a higher employment concentration than anywhere else in the nation.
The thriving entrepreneurial climate is going strong here. There’s a high concentration of patents given to Orange County inventors, with a year-over-year boost of 13 percent.
Here are some quick stats to look at, as compiled by LocationOC.
- With more than 3.1 million residents, Orange County is the sixth most populous county in the country.
- If it were a separate state, it would rank 30th in the country due to population size.
- It has a labor force of 1.6 million, meaning it has a very diverse economy.
- The Gross Regional Product here was $256 billion in 2018.
- It is placed 6th among the nation’s metro areas based on Gross Metropolitan Product.
- If it were a separate country, it would rank 45th globally based on the volume of gross production.
- If it were a separate state, it would be the 23rd biggest in terms of Gross Domestic Product.
According to The Business Journals, companies in Greater Los Angeles and Orange County made $10 billion from venture capitalists in 2020, an increase of 19 percent from $8.4 billion the prior year.
Tips For Moving Your Business to Orange County
Now that you know all the great reasons to do business here in Orange County, check out these tips to make sure your move goes smoothly.
- Plan early
It’s never smart to wait till the last minute to start planning your OC move. Start as early as possible, delegating responsibilities to trusted team members. Early planning ensure you will be able to pack up everything properly, including scanners, copiers and laptops. Consult blueprints to determine your new office and common space layouts, so you know which furniture and equipment to bring and what to leave behind.
- Appoint a move manager
It’s important to divide up all the work so you can continue to manage your business. Designate a move manager (an administrative assistant perhaps?) who can facilitate move logistics.
- Research the best movers
You need to hire movers who have specific experience in Orange County commercial moves. Get three quotes from three different companies and make sure they are licensed and insured.
- Change your address
Update your documents and change your address with the post office as soon as you know of your move-in date. You will also need to update business cards, company letterhead, envelopes and return labels. Notify clients and vendors of the impending move.
- Label all boxes
Particularly with an office move of this magnitude, labeling your boxes is critical. This will help maintain office productivity for as long as possible. Then, when you unpack, the boxes will have been set down in the correct rooms. No searching for toner or printer paper when you’re trying to get settled. Label each box with destination room and number, listed in a spreadsheet for easy checkoff.
- Take measurements
You don’t want to arrive at your new office only to find out the fridge doesn’t fit in the kitchen or your conference room table is too large for the room. This is why you should take detailed measurements, comparing those dimensions with the ones in the new office space.
Contact Move Central
If you would like to move your business to Orange County, our team can help get you there. It starts with a free quote, so contact us at 619-775-3560 or fill out our online form.