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The 2008 financial crisis had a substantial impact on Orange County. The market, which was largely made up of financial services companies, was over exposed to the sub-prime mortgage crisis. This cycle, the market has evolved and developed a more diverse group of industries, and today, the market has evolved to better handle the next downturn.

“Orange County was one of the hardest hit regions during the Great Recession because of its over exposure to the subprime mortgage industry,” Jared Dienstag, research manager at JLL, tells GlobeSt.com. “Because it was hit so hard, Orange County was one of the later market’s to recover. This clearly demonstrated the need for our economy to be more diverse. Not only does this encourage people with different talent and education to live and work here, but it also promotes local innovation through research and development, venture capital funding, job growth, and helps build an ecosystem which encourages people to learn, develop, and stay in Orange County.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance writer and editor living in Los Angeles whose work has appeared in such publications as Travel + Leisure, Angeleno and Los Angeles Magazine.

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