The county's high housing prices among other causes are restricting the number of skilled workers who keep the economy humming. And a "growing and persistent skills gap” is a risk if more educated middle-class workers leave California.
Orange County homes now cost three times the national average. According to the [Orange County Business Council] study, that fact is “forcing residents to seek employment outside of Orange County, including skilled young adults that permanently move out of state to areas with lower housing prices.”
That trend is confirmed by Joseph Vranich, president of Spectrum Location Solutions in Irvine. The OCBC study “could be, word for word, what is happening in San Francisco and Silicon Valley” as well, he said. “I’ve heard housing prices cited as an obstacle to hiring. People coming to work in Orange County also expect higher salaries to pay for the higher housing costs.”
Joe Vranich is known as The Business Relocation coach while his firm is formally known as Spectrum Location Solutions. Joe helps companies find great locations in which to grow. He also is a keynote speaker on the benefits of businesses relocating out of high-tax, high-cost, over-regulated states to friendlier businesses environments. More information is available at Biography and Speaking Availability. On Twitter, Joe is known as @LocationConsultant.
© Excerpts may be used, but only if attribution is given to "Joseph Vranich of Spectrum Location Solutions, Irvine, Calif."