One month into my burst into the middle of OC business—every day three yards and a cloud of everything, and a standout observation. There is—at last—progress on a unified, OC economic-growth strategy.
Jeff Bezos says “stop whining about the Internet, deal with what is.” Same here.
We know—we’re a donor county, no downtown, major city … Let’s just find a way to spruce the golden goose. I see many leaders trying.
There’s urgency—not rooted in a snapshot of OC: 3.2% unemployment, home values at all-time highs and a resurgent mortgage industry (see story, page 1).
The urgency is three daunting trends…
We are losing pop. in every age group but 64+—including 25-44s—an exodus of 100,000 since 2000. One large wealth manager here told me it took him over a year to fill a $100,000+ fairly entry-level job.
Our housing multiple—eight times median income (Silicon Valley is six) —$27/hr. to pay avg. OC rent.
Good-paying jobs aren’t growing, like construction.
Tackling the “expense side” won’t start a conversation. Ends with the price of land. Short-term energy must go to growing higher-paying jobs and sectors: Jim Doti’s answer and marketing slogan is “OC: The Pro-Tech Beach Hub.” Bill Carpou is onboard.
Carpou heads Aliso-Viejo based OCTANe—in its 15th year of nurturing the entrepreneurs envisioned for Pro-Tech Beach Hub. After stints at places like Blackstone, Carpou knows what it takes: “Seeding these companies, taking them though LaunchPads, incubators isn’t enough,” he tells me. “We need to help them to the next stage—growing jobs, sales and incomes so they grow here, stay here.”
That’s how you plug the brain drain—firms like 9-year-old Mavenlink.
“A lot of untapped potential in OC,” noted Sean Crafts co-founder of the Irvine-based software developer, at the monthly Coffee at the Cove. Mavenlink 2008: 3 founders, 10 employees designing apps for Google; Mavenlink 2017: 100% sales growth five-years in a row, a reconfigured software firm riding the cloud wave. 100 new employees in 2017; 100 more envisioned in 2018; all ideal residents of Pro-Tech Beach Hub.
“We repositioned our culture,” Crafts said. “Everyone participates. Our Grassroots Ideas Group is headed up by a 23-year-old. The talent market is unbelievably tight right now,” he confided. “But we’re in tech. When we find them we can afford to pay them.”
More positive sightings next Insider plus Speaking of Sports. Thanks Howie.
