In partnership with Cal State Fullerton’s College of Business and Economics, OCBC hosted the 2008 Economic Forecast Conference yesterday, with major sponsorship by U.S. Bank.  The event featured an overview of the current state of the economy with a look at how climate change and energy considerations will impact the business climate in Orange County. 

Dr. Anil Puri, Dean of Cal State Fullerton’s College of Business and Economics, presented his analysis of the latest economic issues and trends to an audience of 850 business and academic leaders from throughout the Southland. 

Dr. Puri forecasted that “continued worsening of credit and housing market conditions has the potential to push the U.S. economy into a recession, though we believe that, while undergoing a painful ‘near-recession,’ the economy will sidestep a full-blown recession.”  Dr. Puri also predicted Orange County’s employment growth will be the slowest since the recession of 2001, but that there will still be growth.

In terms of the housing market, Puri predicted a median housing price decrease of 2-to-4 percent, with a further downward adjustment of up to 5 percent in 2008.”

Puri emphasized the diversity of Orange County’s economy and forecasted this flexibility will largely insulate it from a shifting economic climate elsewhere in the state and nation.

Dr. Puri’s report, available at www.business.fullerton.edu was complimented by a presentation by Governor Schwarzenegger’s Secretary for Resources, Mike Chrisman, pictured at left with Dr. Puri.  In leading the Resources Agency, Secretary Chrisman oversees policies, activities, and a budget of $6.4 billion and 16,000 employees in 25 departments critical to business and economic interests across the state.  Chrisman spoke on “Climate Change, Energy and the Economy:  What is the Connection for Businesses in California?”

“California is a frontrunner in the race to curb greenhouse gas emissions and combat climate change,” said Chrisman. “This conference allows leaders from many fields throughout the state to form the partnerships needed to protect our natural resources for generations to come.”

Chrisman also discussed the administration’s efforts to move forward with improvements to the state’s water infrastructure.  Specifically, the Secretary echoed OCBC’s position that the state must begin with fixes to the Sacramento-San Joaquin Delta, the source of water for over 20 million Californians.  

Catch the Conference on KOCE!  A special one-hour airing of Dr. Puri and Secretary Chrisman's presentations will be found on KOCE this Sunday, October 28 at 12:30 p.m.  Don't Miss it!

The Orange County Special District is pursuing an aggressive construction program that includes improving its aging infrastructure, as well as the construction of new wastewater facilities. By utilizing design-build, the Sanitation District predicts cost savings of about 6% and a 25% reduction in the time needed to complete the projects.

The measure also provided much sought after assistance to the City of Stanton, by providing the same design-build authority for the construction of a new fire station.

Design-build holds clear advantages to the traditional bidding process for capital improvement projects, and OCBC strongly advocates for the expansion of this method as the state looks to construct needed new roads, waterways and other infrastructure. 

OCBC Chairman Dan Miller, of the Irvine Company, invites OCBC Investors to the final Chairman’s Leadership Breakfast of 2008 – featuring Janet Lamkin, President of Bank of America, California, as interviewed by Tom Phelps of Manatt, Phelps and Phillips. 

Lamkin rejoined Bank of America this year after serving as President and CEO of the California Bankers Association.  Previously, she had been with BofA for a decade, handling corporate communications and public affairs.

Presented by Strategic Resources Alliance, Inc., this exclusive event is open strictly to OCBC Investors.  Contact Michelle Hart for more information at 949.794.7219.

Proposition 1C authorized $850 in grants for infrastructure improvements necessary to facilitate new infill housing developments. The current state budget includes an appropriation of $240 million for this purpose under the Infill Incentive Grant Program.

Times and dates for the only two stakeholder meetings in southern California are listed below. RSVP by emailing Donella Moran.

Riverside - October 29th, 1:00-4:00 pm
Codes & Standards, Southern Office
3737 Main Street, Suite 200

Burbank - October 30th, 1:00-4:00 pm
Buena Vista Branch Library
300 North Buena Vista Street

Dunn and Murray will advocate for the need to increase the supply of housing for Orange County’s workforce, as indicated in OCBC’s Workforce Housing Scorecard.  A diverse housing market is critical to the long-term success of Orange County. A broad spectrum of housing products needs to be made available to residents, whether it’s a single family detached home or a new high-rise condominium home, residents of the county need affordable choices. OCBC strongly contends that the cities within Orange County must plan to meet current and future housing needs.
 

According to the plan jointly announced by Governor Arnold Schwarzenegger, State Senator Sheila Kuehl and Boeing, the Santa Susana Field Laboratory site, a former rocket engine test and nuclear research facility in Ventura County, will be donated and preserved as a vital undeveloped open space link in the Santa Susana Mountains above Simi Valley and the San Fernando Valley.

The agreement will permanently restrict the land for non-residential, non-commercial use.

OCBC praises Boeing for its work with Senator Keuhl and the governor, and for its assumption of the costs related to the environmental clean up of the site.