IRVINE COMMUNITY REPORT

IRVINE COMMUNITY REPORT COVERING 2020

To say 2020 was a challenging time for the economy is an understatement. However, with

the groundwork for economic resiliency established by the visionary Irvine Master Plan six decades ago, we have good reason to be optimistic about Irvine’s economic recovery from this crisis.

This Community Report covering 2020 includes impressive statistics and facts that provide a snapshot of our city and insight into the extraordinary commitment the Greater Irvine Chamber has made as a catalyst for Irvine’s economic vitality.

Situated in the center of Orange County, Irvine was master-planned to be an economic powerhouse. Its business centers are home to an impressive list of leading companies in technology, innovation, biotechnology, medical, and communications sectors, with businesses such as Allergan, Amazon, Blizzard, Cylance, Edwards Lifesciences, Google, and Oracle, to name a few. Irvine is also recognized as an emerging leader in direct patient care with significant expansions by City of Hope, Hoag, MemorialCare, and UCI Health.

The Greater Irvine Chamber champions the business community through economic development work focused on attracting foreign and domestic investment, advancing international trade, and attracting high-paying jobs to Irvine to retain our talent pool. Additionally, Destination Irvine brings to the city several millions of dollars in local economic activity each year, even during a global pandemic. We

are also a leading business organization dedicated to advocating on behalf of the business community to federal, state, and local government.

The Greater Irvine Chamber is a vital community partner, executing its mission at a high level. Our partnerships with Chapman University; Concordia

University, Irvine; and University of California, Irvine, provide workforce development and career preparedness opportunities. Our partnership with the Irvine Public Schools District and Foundation advances the Chamber’s goal of ensuring a highly-skilled workforce for Irvine’s future while helping fund and facilitate programs for today’s students. As a partner with the City of Irvine, the Greater Irvine Chamber has outreached to companies worldwide to highlight the benefits of locating or expanding their business to Irvine. Over the past year, we connected with more than 20,000 businesses right here at home to help them navigate resources to mitigate economic disruption caused by the pandemic.

The Greater Irvine Chamber is the nucleus of the local business community. It serves as a key convener of its members, community partners, and the various groups that make up this incredible city. Each year we provide hundreds of opportunities for members to learn, connect, and grow their businesses. In 2020, we continued to convene virtually, engaging record numbers of attendees from a broader audience to our signature live-streamed events. With millions of dollars in closed business through our leads groups, our members have continued to support each other—meeting over Zoom—retaining tax dollars locally and providing much-needed local economic stimulus.

Our award-winning, U.S. Chamber 5-star accredited organization is staffed by a highly-skilled team of professionals, governed by a visionary Board of Directors composed of executives from leading companies throughout the greater Irvine area, and supported by diverse member businesses, coalition partners, and dedicated member volunteers.

On behalf of the Greater Irvine Chamber staff and Board of Directors, I thank you for your commitment to our exemplary city, particularly as we emerge from this economic and health crisis. Most of all, I applaud your individual and collective resiliency.

I invite you to join us and be a part of our winning team as we continue our mission to advance greater Irvine's economic vitality.

Stay well.

2 GreaterIrvineChamber.com

MESSAGE FROM THE PRESIDENT/CEODear Irvine Business Leader:

The Greater Irvine Chamber is the nucleus of the local business

community. It serves as a key convener of its members, community partners, and the various groups that make up this incredible city."

POPULATION: 287,401

MEDIAN AGE: 33(National Median Age: 37)

- American Community Survey 2020 (a division of the U.S. Census)

Educational Attainment

Workforce/Industries – Employment Number of people working in Irvine (as of 2020 Q3): 273,546 Number of companies with a business license in Irvine (as of 12/31/20: 19,661

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IRVINE

ORANGE COUNTY, CA

3RDlargest city in Orange County

Fast Fact: There are over 900 tech companies in Irvine

6.1%Unemployment in Irvine

7.4% in Orange County

MEDIAN HOUSEHOLD INCOME: $111,574

IRVINE SNAPSHOT

SINCE 2005:

SAFEST CITY IN AMERICA(population over 100,000) - Federal Bureau of Investigation (FBI)

- US Census Bureau (Q Facts)

- JobsEQ, as of 12/31/20

- US Census Bureau (Q Facts)

#1 AMERICAN CITY FOR FISCAL STRENTGH

- Truth in Accounting68%BACHELOR'S DEGREE OR MORE

96%HIGH SCHOOL GRADUATION

Irvine was master planned to be an economic powerhouse. Not even a worldwide pandemic can alter Irvine’s strength as an economic powerhouse. In fact, it is precisely the balance established by Irvine’s Master Plan that has helped us weather the implications of COVID-19. That balance of business and community continues to sustain the quality of life we built. That balance has propelled Irvine’s reputation as a global business hub, nurtured an organic diversity, and contributed to an enviable level of economic vitality. Still fueled by robust life science and information technology sectors—many involved in the work to manage and mitigate the virus—our 21st-century industries and our commitment to education, safety, and quality of life position Irvine as a model city well into the future.

CULTURAL DIVERSITY

White Asian Hispanic Black

48%

2%9%

42%

81,133 Professional, Scientific, Management, Administrative, Information & Waste Mgmt. Services30,251 Manufacturing

17,395 Wholesale Trade

12,339 Retail Trade

986 Agriculture, Forestry, Fishing & Hunting, Mining

35,463 Finance & Insurance, Real Estate Rental & Leasing

23,276 Arts, Entertainment, Recreation, Hospitality

14,511 Construction

46,536 Educational Services, Health Care, Social Assistance, Public Administration

3,672 Other Services (except Public Administration)

4,658 Transportation & Warehousing, Utilities

GreaterIrvineChamber.com

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CHAMBER HIGHLIGHTS

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Throughout this tumultuous year, the Greater Irvine Chamber was proud to work hand-in-hand with our members, businesses, community, and elected officials to help manage the effects of COVID-19. Irvine's economic vitality is grounded in our business community, and this year, we were all tested. Through it all, the Chamber continued to provide value. We pivoted our Leads Group to a virtual platform where they continue to generate millions of dollars in closed business referrals. We found new ways to celebrate organizations, businesses, and individuals that contributed to managing and mitigating COVID-19. And we took to the frontlines to help our businesses survive, recalibrate, and begin recovery. This is your Chamber at work.

2020 CONVENER: WE CONNECT YOU

Business OutlookBusiness Outlook featured Chris Thornberg, Founding Partner, Beacon Economics, and Chris Schwarz, Faculty Director, Center for Investment and Wealth Management, University of California, Irvine. The event, conducted prior to economic lockdown, brought together 800+ executives, and warned of "black swan" events as economic disruptors.

Women of InfluenceThe Chamber final in-person event of 2020, Women of Influence welcomed more than 400 attendees and featured a keynote by Michelle Wulfestieg, Executive Director, Southern California Hospice Foundation. Nicole Washington, Senior Advisor of Community Engagement, Octane, served as Master of Ceremonies.

Celebrate ResilienceIn a special live-streamed Celebrate Resilience program, individuals and organizatons were recognized for their aid during the Coronavirus crisis, including Community Hero, Benefactor, Community Impact, Corporate Responsibility, Frontline Champion, Innovation, and Service in the Hospitality Industry.

Fast Fact: Income per capita is 51% higher than the national average.

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ADVOCACY & GOVERNMENT AFFAIRS CHAMPION: FOR BUSINESS RESILIENCY

40 Under 40Forty of Orange County’s most talented professionals under the age of 40 were recognized during the Greater Irvine Chamber’s live-streamed 40 Under 40 presentation, which garnered more than 2,700 virtual attendees.

Greater Irvine Chamber Leads Groups engage more than 150 Chamber members

weekly. The groups continued to remain active, with record breaking activity, even as they

transitioned to meeting over Zoom.

$22.2 MILLION

IN NEW BUSINESS

Legislative Advocacy & Government Affairs

The Greater Irvine Chamber advocated to the Orange County Board of Supervisors to direct $75 million of CARES Act funding to Orange County cities to assist with business recovery and help prepare them to reopen their doors when the time is right. Greater Irvine Chamber President and CEO, Bryan Starr, serves on the Irvine Business Reopening Task Force to assist the Mayor in her efforts to promote small business growth, support local entrepreneurship, target industry relocation within city boundaries, and maintaining responsiveness to Irvine businesses, all helping to shape issues affecting the business community.

The Chamber designed its multi-channel Community Resilience campaign to help the Irvine businesses cope with the sudden economic impact caused by COVID-19 shutdowns. An emergency resources landing page—populated with pandemic-related mitigation resources and information—was established within 24 hours of the shutdown. In partnership with the City of Irvine management team, the Chamber contacted 14,000 Irvine businesses to assist them in accessing local and federal business resources. Through a special weekly Coronavirus Community Response newsletter we kept the community informed, empowered, and inspired with news, resources, and profiles of community heroes.


ECONOMIC VITALITY

GREATER IRVINE CHAMBER CATALYST: ECONOMIC DEVELOPMENT

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Always forward-looking, the Greater Irvine Chamber engaged in a full scope of economic development work, despite COVID-19 state mandates and travel restrictions halting many initiatives and programs. We adapted quickly to help our Irvine businesses. Working with the City of Irvine, we connected 20,000 Irvine businesses with vital Alerts & Advisories, helped business owners access financial and operational resources, and understand loan applications and state mandates. We created Emergency Response and Recovery resources and outreached to thousands of companies. We worked with our Orange County colleagues to manage and mitigate the impacts of COVID-19 on our economy. And through it all, we remained focused on what matters: helping Irvine businesses navigate these uncertain times and preserve the health of the economy. We are your Chamber at work.

UK-Irvine Connection Still Going StrongFebruary 2020 was a triumph for the Chamber’s FDI initiative. Meeting with over thirty new expansion ready companies and reconnecting with great partners, we returned to Irvine with a dozen companies announcing their intention to expand into Irvine. Although Covid-19 has temporarily suspended plans, these companies remain committed to Irvine, and we continue working with them to maintain a glide path into Irvine in 2021.

Irvine Gateway Soft-Landing Package DeliversThanks to more than 80 companies and outstanding experts, Irvine has earned a reputation as a city that delivers what it promises. Whether it is information on VISAs, the FDA, regulatory or payor landscape, accounting, legal or human resources, hospitals, clinical trials, or commercial office space, our experts generously donated over 200 hours of pro-bono time to help our U.K. companies with critical decision-making.

IRVINE GATEWAY Irvine/Orange County Soft-Landing Package

Greater Irvine Chamber

36 Executive Park, Suite 100 • Irvine, CA 92614

P: 949-660-9112 • F: 949-660-0829 • Email: [email protected]

greaterirvinechamber.com • irvinechambereconomicdevelopment.com • destinationirvine.com

Contact:

Bryan Starr, President & CEO: [email protected]

Linda DiMario, Executive Vice President: [email protected]

Whit Peterson, Director of Government Affairs & Economic Development: [email protected]

Jessica Yip, Business & International Development Manager: [email protected]

100+Irvine Gateway experts

15universities and colleges

900+technology companies

in Irvine

65STEM R & D centers at UCI

485

life science

companies in Irvine

40CROs in Irvine

“Forte Medical embarked on a mission to Irvine hoping that we would find not only enthusiasm

for our work, but support, contacts, and avenues into launching our HealthTech into the USA.

We have not been disappointed. In the last 18 months we have formed a hugely important

JV with an Irvine business that will transform our offer and found valuable opportunities

that point to tangible success in the USA. The Chamber’s Irvine Gateway team is indefatigable,

prescient, and kind. What more could we have asked for in a US business support partner?”

- Giovanna Forte, CEO, Forte Medical

“I had explored other ecosystems before selecting Irvine as the base for company expansion in US.

Before Irvine, I had not met any other ecosystem with so many business leaders and professionals

who voluntarily go the extra mile, to assist, advise, support, and signpost an outsider. The

Chamber team are the backbone of this enterprise. From day one they organised and facilitated

introductions that equipped me with knowledge and understanding of what it takes to establish

and grow our company here. They are my mentors, colleagues and friends. We have already

created local partnerships and started devising sales and marketing campaigns. I no longer feel

an outsider but as part of the ecosystem helping other SME to settle and grow in Irvine.”

- Nehal Thakore, Director of Business Development, oneclick


The Chamber’s economic development work focuses on what matters.The Business & Workforce Development Committee continued its work through this pandemic. Chaired by Brian Andersen, Brian Dozer, Brian Montes, and Thomas Lotts, the committee conducted the Chamber’s Business Outreach Rally as a telephone event, recalibrated Career Edge as a virtual program for young people readying to enter the workforce and, developed and curated Building Better Business 1.2.3. website materials to provide businesses with resources they need to rebuild and better prepare for the next disruption.

The International Development Committee, chaired by Marv Sepe, Rima Nashashibi, and Bill Edwards, remained focused on sustaining our FDI momentum, expanding the Chamber’s export assistance program, and arranging for the Southern California District Export Council to adopt the prestigious O.C. World Trade Week Forum for 2021. Highlights include:Business Outreach Rally — This multiple award-winning business retention program connects us with hundreds of businesses each year. Twice-yearly, 30-50 volunteer Chamber members deliver our Business Outreach Resource Guide informing businesses about the networks and resources available to help them grow their enterprises. To remain in touch with Irvine businesses during the Coronavirus crisis, the Chamber re-engineered its Business Outreach Rally as a virtual program. Chamber Ambassadors volunteered their time, connecting with more than 120 businesses over the telephone, gaining primary data about their operations now and in the future. To date, more than 4,000 companies have been contacted, with more than 1,000 surveys completed, and more than 40 interventions managed.

Career Readiness — The award-winning Career Edge program is a simple but important solution to a challenge that Orange County companies face: new employees who arrive with the knowledge and technical skills necessary but lack satisfactory business writing, presentation, problem-solving, and critical thinking skills. At the completion of the 2020 series, more than 350 students have participated in the program, learning valuable soft skills from experts facilitated by Chamber member volunteer mentors.

Fast Fact: Median household income in Irvine is 70% higher than the national average.

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Orange County World Trade Week

One of the region's most prestigious events transitioned to a virtual event in May 2020 in the wake of COVID-19. Sharing their perspectives on global trade and export were keynote speaker Mark O’Connell, CEO of OCO Global, and an international panel: Barry Cosgrave, K & L Gates; John Evans, Tractus Asia; and Ken Wengrod, FTC Commercial Corp. Stephen Armstrong, MAPLE Business Council, was named Partner of the Year. Leigh Volkland, Edwards Lifesciences, was awarded the Global Leadership Award. SUAVECITO was recognized as the 2020 Exporter of the Year. The event attracted several hundred people from around the world.

Octane LaunchPad:

UCI Beall Applied Innovation:$24.1 billion of investments in and liquidity exits of UCI-affiliated startups (since 1990).

Total capital infusion (since 2010) $2.85 BILLION

Capital infusion in 2020 $445M INTO 27

LAUNCHPAD COMPANIES17,096 JOBS

created since 20103,266 jobs in 2020

662active patents (as of 10/2020)

2.5 BILLIONin economic activity related to UCI-affiliated

startups in Orange County (since 1990)

60UCI IP-based startups

YTD since BAI launched in FY15


GREATER IRVINE CHAMBER VISITORS BUREAU DESTINATION IRVINE

DESTINATION IRVINE

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The fiscal year 2019-2020 started with great anticipation. Destination Irvine, funded by an agreed upon Hotel Improvement District special assessment, was performing optimally as our sales and marketing organization delivered extraordinary results for our hotel and hospitality partners. Then the emergency public health crisis, COVID-19, devastating Irvine’s hospitality industry including hotels, restaurants, retail, attractions, and more. Enforced closures, foreign and leisure air travel restrictions, company travel mandates, and shelter-in-place orders resulted in a business disruption on an unprecedented scale. Destination Irvine analyzed and evaluated the ever-evolving situation, developing effective sales and marketing strategies to continue to support the hospitality industry in its recovery efforts.

It is estimated that without visitor spending, resident households in Irvine would each pay

$560 MORE A YEAR in state and local taxes.

$49.6MThe travel industry

contributed $49.6 million in local and state taxes.

$267MThe travel industry supported

5,860 Irvine jobs and was responsible for adding

$267 million in wages to the local economy.

$781M In 2019,

traveler expenditures for Irvine came to an estimated $781 million, an increase of 3.9% over 2018, according

to the 2019 Visitor Impact report conducted specifically for Irvine by

Dean Runyan Associates, on behalf of Destination Irvine.

PERCENTAGE OF TOTAL VISITOR

SPENDINGTotal Spending in 2019:

$781,000,000

11%

14%

29%

24%22%

Key Accomodations Food & Beverage Arts & Entertainment Retail Transportation

Visitor Spending in Irvine($ Millions) Accomodations: $228 Food & Beverage: $185Arts & Entertainment: $175Retail: $88Transportation: $107

Destination Irvine 2019 Highlights


$11.1 Total economic impact:

FY 2019-2020 (44% increase over fiscal 2018-2019)

100BOOKINGS

32,767ROOM NIGHTS

Fast Fact: Irvine is safer than 76% of cities in the U.S.

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Hotel Bookings and Economic ImpactWorking with Irvine’s 21 hotels, Destination Irvine continues to deliver year-over-year record results in meetings and sports events identified, solicited, and booked, generating increased revenue for the city and its businesses.

▶ Destination Irvine ran an independent Expedia campaign from July to mid-March, paused due to COVID-19 restrictions, resulting in 37,824 Irvine room nights booked with a total revenue to the hotels of over $5.9 million.

▶ Worked with professional photographer to enhance the sports facilities photo library including the OC Great Park – soccer, sand volleyball and baseball; the Great Park Ice & FivePoint Arena – hockey and curling; and the William Woollett Jr. Aquatics Center – water polo and swimming.

OC Joint Marketing Campaign Destination Irvine participated in quarterly OC Joint Marketing Campaigns with Expedia. The campaigns ran July-September, October-December and January-mid-March. The campaigns resulted in 35,968 Irvine room nights booked with a total revenue to the hotels of nearly $5.6 million.

▶ Travel Media: garnered media exposure for the destination working with travel writers and influencers including Washington Post, Roamaroo, Traveling Newlyweds, Northwest50 Plus, and Obsessed by Portia.

SILVER


LEADERS CIRCLE

Leaders Circle members are among the most influential companies and organizations in Irvine and Orange County and take pride in being identified as partners of the Chamber and supporting its events and activities.

The Leaders Circle membership offers greater involvement, presence, and access to higher-level executives.

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The Greater Irvine Chamber and City of Hope Orange County are committed to passionately advocating for the interests of the Orange

County community. The Chamber is focused on improving the community’s economic health, and City of Hope Orange County strives to improve cancer health—it’s a partnership that goes hand in hand.”

- Annette Walker, President, City of Hope Orange County

GOLD

PLATINUM

DIAMOND Leaders CircleTHE ELITE MEMBERSHIP GROUP OF THE GREATER IRVINE CHAMBER

*Jeff Davis (Chair)Irvine Company

Mayssa AttarAbbVie

Vivian AtkinsonExpress Employment Professionals

Andrew BernsteinJackson Tidus

*Diane BlakeSonesta Irvine

Massis ChahbazianThe Printery

Susan DeGrassiAntis Roofing & Waterproofing

Barry Draskovich, PMPParker Hannifin Corporation, Parker Aerospace

Rachel DunningtonGoogle

Jeff GarnerOrange County Soccer Club

*Dan HanAgapay

Ville HouttuVINCIT

*Kate KlimowUCI Beall Applied Innovation

Dov LazarusHBLA

Kelley LeeSouthern California Edison

Diane MarkisMarriott Irvine Spectrum

Brian MontesScaleocity Works

*Eric MorganFivePoint

Nisha MorrisCity of Hope Orange County

Scott NortonHoag Health

*Carlos OregonThinkbox Technology Group

Lanae O'ShieldsSoCalGas

Tania PeñaOmniPrint International Inc.

*Barry L. RodolffThe Rodolff Law Firm, APC

*Scott SchultzRH Morris Insurance & Financial

*Paul SimondsCurt Pringle & Associates

Lisa ThomasTaylor Digital


GREATER IRVINE CHAMBER LEADERSHIP

2020/2021 BOARD OF DIRECTORS

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IRVINE HOTEL PARTNERS FUELING IRVINE'S

ECONOMIC VITALITYIrvine’s hotel collection offers local companies,

meeting planners, and travelers from around the globe a variety of options for their meetings and business travel. These hotels fund the Chamber’s tourism and economic

development promotions and activities.

*Executive Committee

Irvine John Wayne AirportIrvine Spectrum

Irvine John Wayne AirportIrvine SpectrumIrvine Marriott •Marriott Irvine Spectrum

GREAETR IRVINE CHAMBER MISSION: ADVANCE THE ECONOMIC VITALITY OF GREATER IRVINE.

Greater Irvine Chamber36 Executive Park, Suite 100 Irvine, CA 92614

Phone: 949-660-9112Email: [email protected]

GreaterIrvineChamber.comIrvineChamberEconomicDevelopment.comDestinationIrvine.com

HOTEL IMPROVEMENT DISTRICT (HID):Irvine’s Hotel Improvement District was established at the

request of the hotels and is enabled by City Ordinance. The hotels agreed to a 2% assessment on sold rooms in addition to the 8% Transient Occupancy Tax collected and retained by the City of Irvine. The intent of the assessment is to fund tourism sales and marketing, business attraction and retention, and

programs that produce revenue for hotels, restaurants, retail, and the city’s General Fund. The HID selected the Greater

Irvine Chamber and Destination Irvine to manage and deliver this scope of work.

Destination Irvine, and the Greater Irivne Chamber

promote Irvine as a destination, which drives hotel sales.

8% Hotel Tax collected:

$12,524,765 revenue collected in

FY 2019-2020 100% accrues to city’s

General Fund

2% ASSESSMENT & ROI1.5% of assessment funds tourism, promotion, and economic development;

0.5% goes to City of Irvine for arts and cultural events.

Destination Irvine Delivers! Return on Investment for FY 2019-2020: $3,131,191 direct spending in Irvine.

1.5% PARKS AND RECREATION

POLICE AND SAFETY

FIRE DEPARTMENT PUBLIC WORKS TRANSPORTATION SCHOOLS

.5% ARTS AND CULTURAL EVENTS

PUBLIC/PRIVATE PARTNERSHIP : AT WORK FOR IRVINE

Greater Irvine Chamber dollars received from city’s General Fund: $0Greater Irvine Chamber dollars received from Irvine’s 8% Hotel Tax: $0

GENERALFUND

PRESIDENT’S "E" AWARD FOR EXPORT SERVICES

ORANGE COUNTY BUSINESS JOURNAL BEST PLACES TO WORK

TWO YEARS

U.S. CHAMBER OF COMMERCE FIVE STAR

ACCREDITED

IRVINE COMMUNITY REPORT

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