Irvine recession proof, but Newport at risk?
posted by Jon Lansner/ocregister.com
Consider this example.
BusinessWeek has new rankings out citing 22 selected U.S. cities that may do better than most in what’s likely to be an ugly patch in the nation’s economy history. BW writes: “Other local economies, those dominated by stable industries, could be relatively well-cushioned. BusinessWeek.com worked with data from PolicyMap.com, a demographics and data site run by Philadelphia’s Reinvestment Fund, to identify the best places to live during a recession. We looked at places where large portions of the population worked in anticyclical industries such as government, health care, education, agriculture, and legal services.
Guess who made the list? Our Irvine, no less! (Money magazine’s annual “best place to live” list ranked Irvine the #4 city in the nation. Read it HERE!)
So what was BusinessWeek thinking? It notes Irvine’s 37.8% share of jobs in those coveted anticyclical industries. And BW writes: “Irvine is home to the University of California at Irvine and — like much of Orange County — hasn’t been hit as hard by the subprime crisis as other parts of California.”
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This article by Jon Lansner appeared in the Orange County Register on October 16th, 2008.