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The local Orange County economy is healthier today than it was at the end of the last cycle, with more diversity in industry driving a healthy market, particularly for CRE companies. However, there are still some weak spots. Local manufacturing, for example, has not returned and continues to decline, leading to some transitioning in asset use and investment. But, slowing job growth and the political climate are also potential weak spots.

‘Local manufacturing employment has not returned to pre-recession levels. With that said, Orange County manufacturing employment numbers actually started to show signs of slowing in 2001,” Jared Dienstag, research manager at JLL, tells GlobeSt.com. “However, current manufacturing employment of 159,800 does reflect growth compared to the market low of 148,800 in 2010. The decline in manufacturing is a result of the economy transitioning to one that requires more warehousing and distribution due to the growth of ecommerce and last mile logistics.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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