ORANGE COUNTY IN BANKRUPTCY : PROMISING SIGNS
- Share via
Even as it struggles to straighten out its government finances, Orange County is a vital and strong economic force, according to a Salomon Bros. report released Tuesday. Among the findings:
An Economic Recovery is Under Way
* DECREASING UNEMPLOYMENT: Down to 5.2% in October, 1994, from 7.1% in October, 1993.
* INCREASING JOB GROWTH: 1994 figure likely to be revised up from 0.5% to 1.0%.
* MORE HOUSING STARTS: 86% increase over 12 months ended October, 1994.
* INCREASING PROPERTY VALUES: Housing prices increased for past three quarters, reversing 1990-1993 declining trend.
* STRONG RETAIL SALES: Growing at a 7% to 8% annual rate.
* NEW BUSINESS GROWTH: Continuing strong tradition of entrepreneurialism.
TOTAL POPULATION IN ORANGE COUNTY (In millions)
‘94: 2.6
Orange County Vital Statistics
* GROSS REGIONAL PRODUCT: $76.7 billion
* PERSONAL INCOME: $64.8 billion
* EMPLOYMENT: 1.1 million
* RETAIL SALES: $26 billion
* AVERAGE HOUSEHOLD INCOME: $71,540 ($59,020 U.S. average)
* MEDIAN HOME PRICE: $210,000 ($110,000 U.S. average)
* Diversified economy with emphasis on high-technology manufacturing.
* Modern infrastructure, good public school system, low crime rate and attractive climate and geography.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
