OCBJ WEEKLY LISTSABOUT THE LISTS: Click on a headline for a summary and analysis of a weekly List (each story includes a FREE download for paid subscribers)
Claim Center Stage With Inviting Decor, Food, Drink
Having a glass of wine with friends is no longer the cutting-edge trend. We are now having cocktails.
Irvine Ranch, Pavilion Park, RMV Counter Nat’l Trend
Sales at Orange County’s best-selling masterplanned residential developments showed no signs of slowing last year and are poised for more growth this year, despite a cooling trend across much of the country.
Less Risk, Fast Sales Appeal to Publicly Traded Firms
Orange County’s largest masterplanned developments are driving a bulk of the recent new-home sales in the region, but plenty of builders are also finding success buying land for residential projects off the beaten path.
Healthcare is more often being delivered outside of traditional hospital walls, a trend that has been driven to some degree by the Affordable Care Act, as well as by technological improvements. Orange County hospitals are no stranger to the shift. The Business Journal’s Vita Reed talked to several hospital executives to discuss outpatient offerings and their purposes. Edited excerpts of their answers follow.
28 on List Have Second Down Year in a Row
Pretax profits dropped steeply at Orange County’s largest hospitals during the past year.
Law Requires the Hospitals To Assume Social Obligation
More than a few of Orange County’s prominent hospital operators deliver something in addition to their standard healthcare: “community benefits.”
43 Combine for $84.1 Billion, Mirroring Year-Earlier Rise
Commercial banks in Orange County continued to grow local deposits, notching another 8% increase over the year through June for a total of $84.1 billion.
Attorneys Work With UCI Program to Boost Fine Arts
Put together a few attorneys sharing a passion for the arts and a local university that fosters artistic talent, throw in some creative thinking and readiness to provide support, and you’ll get Off-Center, a collective launched by a committee of local lawyers and educators in concert with University of California-Irvine’s art department.
Headcount Up 3.2%; More Make List Due to Growth
The biggest law firms in Orange County grew their workforces in 2014, breaking a two-year streak of cuts in attorney headcount.
Much of this week’s issue is dedicated to a look back at 2014, which has proved to be a remarkable year in many respects for the community of business in Orange County (see overview, page 1; coverage by industry, pages 5 through 18).
Plenty of Business Backers for Santa Ana School’s Focus on Arts, Academics, Dual Immersion
The idea of charter schools was little-known concept in Orange County in 1999, recalls Susan Mas.
Every Category Is Higher, Including Costs, Clients
More people needed a lift last year, and local donors and charitable organizations responded with more money and more people to offer help.
NONPROFITS: Program adapts to schools’ needs
She was about 10 years old, a painfully shy girl with huge brown eyes and a mop of shiny brown hair. She had a nice smile—when it could be coaxed to appear.
NONPROFITS: Operates 20 parks in region, three in OC
It could be hard to imagine what it must be like to escape one terrible situation, only to be trapped in a nearly identical situation a short time later.
RETAIL: 32 biggest combine for $7.3 billion
Taxable sales at the top 32 shopping centers in Orange County grew for the fifth straight year, but at a slower pace, according to this week’s Business Journal list.
Fletcher Jones No. 1 Again; Several Dealerships Sold
Orange County’s car culture continues to keep pace with the revved-up national market.
6 With U.S. Headquarters Here Combine to Employ 2,279
The six automakers with U.S. operations based in Orange County combined to employ 2,279 workers here, 3.2% more than a year earlier, according to this week’s Business Journal list.
ECONOMY: Top 79 combine for 258,796 jobs, 17% of county’s total
Orange County’s biggest employers grew their combined workforce by 1% in the past year, a modest but steady pace of growth for the fourth straight year.
23 Together See 35% Rise To $18.5 Billion In Year
Orange County-based commercial banks have notched the biggest year-over-year asset growth in the ongoing economic recovery and even since the few years prior to the recession.
Group’s Assets to $16.9B, Despite Declines for Most
Orange County’s credit unions built assets at a faster clip over the past year, when the biggest of the group pulled most of the gains.
Biggest Here Combine for 4,735 Positions
The largest chipmakers in Orange County cut jobs in the past year as a major restructuring, Chapter 11 bankruptcy, and two sales stunted growth.
Public Cos. Combine for 24% Hike to $83B in Sales
The latest batch of Orange County’s fastest-growing public companies kept pace with last year’s mix, combining for a 24% growth rate on revenue.
Why Fast-Growing Companies Matter to Local Economy
Fast growth matters. Having a deep pool of fast-growing public companies is a plus on many fronts for Orange County’s economy and community.
TRI Pointe’s Revenue Jumps 1,621%—Before Big Buy From Weyerhaeuser
If you think TRI Pointe Homes Inc.’s revenue growth over the past 24 months is eye-opening, just wait until next year.
Cryoport Gets Goods There Cold, Grows Revenue by Nearly 400%
Cryoport Inc.’s chilly business is fueling red-hot sales growth.
Reps Jump 3.4%, Overall Staff Down 5% at Top 23
Orange County’s financial advisory firms combined to deepen the pool of registered advisers here while reducing the size of their overall employment bases.
Credit some of Orange County’s biggest insurance brokers with quick adjustments to shifts in California’s corporate landscape.
Says Unique Identity Makes It Stand Out From Crowd
Stantec Consulting Services Inc. was able to put its best foot forward when competing for business this year, thanks to a major rebranding effort initiated by its parent, Stantec Inc. in Edmonton, Canada.
Rome & Associates Built On Telecommunications Work
Jeffrey Rome never thought when he got his degree in architecture that he’d spend most of his time designing wireless networks. Now, some 24 years later, 90% of billings at his Jeffrey Rome & Associates Inc. firm come from projects for major telecommunications companies such as AT&T, Crown Castle International Corp. and Verizon.
Combine For 1% Jump To $417 Million Locally
Orange County’s architecture firms combined for a 1.6% increase in local billings, modest growth after last year’s 13% surge.
39 Bring in $2.8 Billion In OC-Generated Billings
The top engineering firms with headquarters or significant operations in Orange County ended a three-year streak of gains with a 1.5% drop in local billings during the 12-month period ending June 30.
$5.5B Gain in 2 Years for 174 Fastest Growers Based in OC
There’s no shortage of numbers available to put some punch into this week’s coverage of the fastest-growing private companies based in Orange County.
Driver Urban’s Revenue Jumped 25,402% to $131.3M
Driver Urban had three things working for it in 2012 when it spun off from a large construction company—it entered the marketplace at the right time, at the right price, and with the right expertise.
$4.3B Revenue Increase Spread Over 13 Largest Fast Growers
Far fewer but much bigger. That’s one way to sum up the biggest of the fastest-growing private companies based in Orange County—13 companies that combined for $16.1 billion in revenue, a 37% jump.
73 Companies Combine for $2.2 Billion in Revenue
The 73 fastest-growing private companies in Orange County with revenues between $10 million and $100 million collectively grew their combined top line by 76.1% over the past two years to $2.2 billion.
Companies Under $10M Mark on Revenue Combine for 100% Jump
The fastest-growing companies in Orange County with revenues of less than $10 million combined to nearly double their sales over the past two years to $399 million.
Edwards, Endologix Among Big Gainers on Consultant List
Irvine-based medical device makers Edwards Lifesciences Corp. and Endologix Inc. are vastly different when it comes to revenue and profit, but they both rank among the top 10 hirers in the medical technology field over the past five years, according to a recently released report.
Allergan Leads the Way With 2,400 Local Workers
Irvine-based Allergan Inc. is the runaway leader on the Business Journal’s annual list of drugmakers based in Orange County or with sizable local operations.
Biggest Here Combine For Workforce of 2,728
Local employment growth has evaded Orange County’s largest contract electronics makers for another year, despite a boost in global sales for the industry.
40 Give $33M Locally Last Year, Down 9.3% From ’12
Private foundations based in Orange County gave $156.2 million overall based on their most recent data compared to $128.7 million a year ago—21.4% higher—but their local giving was down, according to data compiled by the Business Journal.
Foundations, Firms’ Charity Arms Give 3.1% More OC Cash
Total cash giving by 35 corporate foundations and company charitable arms active in Orange County dropped 6.4% from a year ago. But discounting two major, one-time giving efforts in 2012 from the largest giver on that year’s list, Wells Fargo & Co. there was a fractional boost for the year—the fourth straight of positive increases, the Business Journal’s list shows.
Combine for 1% Increase To About 3 Million Residents
Orange County cities continued growing last year, combining for a net 1% increase in population to about 3 million.
630 Jobs Lost As Verizon, Time Warner Cut Costs
Two cost-cutting moves fueled a significant drop in local employment among Orange County’s largest telecommunications companies in the past year.
Kaiser Leads HMOs List, Anthem OC’s Biggest PPO
Health maintenance organizations had a year of growth in Orange County.
Delta Dental Plans Still At Top of List of 13 Plans
Managed dental care plans saw a slight drop in their Orange County membership during the past year.
MEDIA: New clients, more social media work drive gain
The biggest public relations firms based in Orange County combined to employ 416 staffers as of July, a 7.5% year-over-year increase.
Orange County’s wealthiest person has been putting a fair amount of his fortune back into his business over the past year—but we’re figuring that he’s still likely to have seen a boost to his bottom line of about $1 billion.
Markets Cooperate as Entries Tally $54B
All the ingredients pointed to another good year for the richest residents of Orange County: an extraordinarily strong run in stocks, continued briskness in the commercial and residential real estate sectors, and some surprising resilience in the bond market.
Annual Survey Delved Deeper With Employers, Workers
The latest batch of Orange County’s best places to work earned the distinction after a heightened research process.
Renovations, New Construction Emphasize Open Design
Look to the lobbies of Orange County’s newest and most recently redesigned hotels to see the hospitality industry’s latest generation of interior design on display.
26 Firms Combine for $677 Million in Revenue Last Year
Orange County’s tenant-improvement industry posted its strongest year in more than a decade last year, buoyed by a spate of new construction work in addition to plenty of renovations at existing properties.
Gains Represent Third Year of Local Staff Jumps
Orange County’s top accounting firms combined to grow their local offices by 4%, continuing a run of employment gains for the third straight year.
Regulatory Changes, Plus Acquisition Fuel Increase
Orange County’s top management consulting firms grew their local offices by 25% over the past year, the highest rate since a recovery in hiring began in 2011.
Yard House USA Inc. is the second-fastest growing restaurant chain in the country, according to Nation’s Restaurant News.
The Business Journal is looking for Orange County-based companies that have seen their yearly sales grow rapidly from mid-2012 to mid-2014 for our annual list of fastest-growing privately held companies.
Female-Owned Businesses Top $3B, 26,000 Jobs
Orange County’s biggest women-owned businesses combined to grow revenue by 7% last year, notching a fourth-straight year of top-line gains for a total of $3.1 billion.
DINING: Biggest based here top $14 billion in sales
Orange County’s 30 largest restaurant chains grew sales 3.4% to surpass $14 billion in systemwide sales last year, reflecting an industry trend of modest overall improvements as the economic recovery continues.
Biggest Here Notch 7% Revenue Gain to $71B
Orange County’s biggest private companies got bigger in a continued run of revenue and employment gains.
Private Companies Plow Ahead
Orange County’s biggest private companies got bigger in a continued run of revenue and employment gains.
Six Firms Finish 1.6M SF, More Than Double Last Year
The opening of new headquarters for two of Orange County’s better-known companies helped the area’s commercial development sector top a square footage mark not seen in six years.
Revenue of 27 Biggest Decreases About 11%
A significant increase in the backlogs of Orange County’s largest commercial construction companies didn’t immediately translate into more work for them last year.
Field’s OC Deals Would Have Dropped Without It
Orange County’s top venture capital firms combined to invest $79 million in local companies last year, a 60% increase from a year earlier.
Largest Based Here Bring In About $9B in Revenue
The 49 largest apparel companies based in Orange County raked in roughly $9 billion in sales, a 9.2% increase from a year ago, according to this week’s Business Journal list.
Industry Employment, Though, Essentially Flat
Dirt’s turning at a rapid clip for Orange County’s hotel landscape, and there may be no other local company that reflects that activity more than R.D. Olson Construction.
SERVICES: Select Staffing’s 7 OC offices combine for top spot
Orange County’s largest employment agencies collectively had $815 million in local revenue last year, a slight dip that broke a three-year streak of gains.
Newcomers Reflect Growth of Services
Call it 10%—that’s about the turnover rate for this year’s OC 50, the Business Journal’s annual inventory of influence.
Combine for $152.6M in Larger Pool of 265 Loans
The pace of small-business lending in Orange County jumped over the past year, according to this week’s Business Journal lists based on information from the U.S. Small Business Administration.
Add 223 Local Positions for Biggest Jump in 3 Years
Orange County’s largest software makers added 223 jobs in the past year, up 2.8% from a year ago.
4.7% Jump Reverses Loss; 5 Add, 8 Cut, 2 Flat
The largest computer products makers in Orange County posted strong employment gains during the past year as local acquisitions helped fuel growth.
Reverse Employment Dip, Adding 147 Local Jobs
Employment at Orange County’s largest aerospace and defense contractors was about flat over the past 12 months, an improvement from slight job loss last year.
Top Agency With $57.9M, Jobs Up 4.4% to 1,713
Orange County’s advertising agencies posted an estimated 5.7% gain in revenue last year as clients opened their wallets on marketing budgets.
Top of List Little Changed, Mergers in Bottom Half
Orange County-based commercial printers brought in $558.7 million in revenue last year, a 3.9% increase over 2012, according to this week’s Business Journal list.
ECONOMY: Allergan No. 1 again; Western Digital adds $9.6B
Orange County’s largest publicly traded companies combined for a cool $20 billion boost to their market valuations over the past year, thanks to strong gains by Allergan Inc. and Western Digital Corp., the largest representatives of the local healthcare and technology sectors.
About $18B In Sales, Leases Result In Nearly 14% Jump
Orange County’s largest commercial brokerages continued to benefit from investor interest in local properties in 2013, and to a lesser extent, tenant demand.
Two Dominate, Group Combines for 8.7% Jump
A flurry of large office purchases by institutional investors, a smattering of development, and new out-of-town accounts helped boost the bottom lines of Orange County’s largest commercial property managers last year.
More Work Across County Line for Biggest Offices Here
The largest environmental consultants with offices in Orange County collectively billed $594 million in 2013, a 2.7% drop from a year earlier.
Interest Rate Hikes Bring 13% Decline in Business
Business for Orange County’s largest title insurers took a step back in 2013 as rising interest rates brought about a steep drop in refinance work during the second half of the year.
ECONOMY: 5.5% increase in sales; 2.2% gain on OC jobs
The biggest minority-owned businesses based in Orange County combined for $12.8 billion in revenue last year, a 5.5% increase from a year earlier.
Orange County homebuilders last year posted their best year for sales since 2004, buoyed by the opening of several masterplanned communities, as well as continued strong sales on the Irvine Ranch. Includes the 2014 OC's LARGEST HOMEBUILDERS list for download (pdf)
Profits of 30 Biggest Drop 7%, Revenue Up
Orange County’s largest hospitals posted mixed results on the profit side over the past year or so. Includes the 2014 OC's HOSPITALS list for download (pdf)
Majority of Banks With OC Presence Post Gains
Commercial banks in Orange County grew local deposits by nearly 8% last year after three straight years of gains averaging 2.6% a year.
ECONOMY: 5% increase to more than 30,000 workers here
The foreign-owned companies with operations in Orange County combined to employ 30,042 workers here in 2013, up 5% from a year earlier. Includes the 2014 OC's LARGEST FOREIGN-OWNED COMPANIES list for download (pdf)
30 of Largest Firms Trim Their Orange County Ranks
Orange County’s largest law firms trimmed their workforces last year, marking the second straight year of modest cuts in the number of lawyers here. Includes the 2014 OC's LARGEST LAW FIRMS list for download (pdf)
Hold More Leverage in Negotiations on Rates
The outlook for the hotel and meetings business continues to shine bright into the new year. Includes the 2014 OC's HOTEL MEETING ROOM SPACE list for download (pdf)
RETAIL: 4th-straight year of growth among biggest here
Orange County’s largest shopping centers have this going for them as the holiday outlook at a lot of mall-based retailers gets shaky: They already have a fourth-straight year of growth under their belts, according to this week’s Business Journal list. Includes the 2013 OC's LARGEST SHOPPING CENTERS list for download (pdf)
Other Brands Still Account for Nearly 3,000 Jobs Here
Anaheim-based Fisker Automotive Inc. led a 5.8% gain in worker counts among local automakers last year as hopes remained high for its hybrid luxury sports car. Includes the 2013 OC's LARGEST AUTOMAKERS list for download (pdf)
Top Franchises in Orange County Combine for $4.3B
The top 34 franchised car dealers in Orange County reported more than $4.3 billion in sales last year, an 11.7% increase that marked the third annual gain in the wake of the recession. Includes the 2013 OC's LARGEST AUTO DEALERS list for download (pdf)
Combine for 9% revenue jump and 6% employment increase
Orange County’s largest nonprofit organizations grew over a recent 12-month stretch as they combined to increase revenue by 9% to roughly $2.2 billion. Includes the 2013 OC's LARGEST NONPROFITS list for download (pdf)
ECONOMY: OC-based firms fuel gain by biggest employers
Orange County’s largest employers combined to add 3,562 new hires over the past year, continuing a string of modest job gains in recent years. Includes the 2013 OC's LARGEST EMPLOYERS list for download (pdf)
Softer Demand, BK in Mix; 2 Newcomers Make List
Orange County’s largest chipmakers combined for a slight drop in jobs over the last 12 months as the local industry was hit by restructurings, a bankruptcy and generally soft demand. Includes the 2013 OC's LARGEST CHIPMAKERS list for download (pdf)
Opus Again Tops, With $3.2B in Assets, Up 29%
The largest Orange County-based banks picked up the pace of growing their assets over the past year. Includes the 2013 OC's LARGEST OC-BASED COMMERCIAL BANKS list for download (pdf)
SchoolsFirst Federal’s Role Diminishes As Others Rise
Growth was visible on several fronts for Orange County’s credit unions over the past year. Includes the 2013 OC's LARGEST CREDIT UNIONS list for download (pdf)
3 Categories Combine for $90B in Revenue, 24.3% Growth Rate
The fastest-growing public companies in Orange County followed divergent paths over the past year. Includes the 2013 OC's FASTEST-GROWING PUBLIC COs list for download (pdf)
Firm Rankings Stay About the Same
The number of registered representatives at the largest financial advisory firms in Orange County declined by 4% over the past year
Programs Inch Up In Number From Year Earlier
Enrollment in master of business administration programs serving Orange County is up by nearly 1%. Includes the 2013 OC's DIRECTORY OF MBA SCHOOLS list for download (pdf)
Just Three Had Declines, Jobs Add Up to 2,059
Orange County’s top insurance brokers continued to see stronger business last year. Includes the 2013 OC's TOP INSURANCE BROKERS list for download (pdf)
35 Combine for 2% Employment Increase to 2,226 Positions
Orange County’s architecture firms rode the momentum of strengthening business opportunities through the past year. Includes the 2013 OC's LARGEST ARCHITECTURAL FIRMS list for download (pdf)
Good Year Is Industry’s Third in a Row After Declines
Orange County’s largest engineering firms saw increased business for a third year in a row. Includes the 2013 OC's LARGEST ENGINEERING FIRMS list for download (pdf)
ECONOMY: Tops on total revenue, number of companies
Orange County’s fastest-growing private companies combined for an average increase of 40% on sales. Includes the 2013 OC's FASTEST GROWING PRIVATE COs list for download (pdf)
More Transparency, But Small Ones Could Spend More
Medical device makers are on the verge of facing a more challenging regulatory environment.