What is the Future for Irvine's Economy?

The City of Irvine, in coordination with the Greater Irvine Chamber, has released the 2024 Irvine Innovation Economy Report. 

The report employs a data-driven approach to identifying economic development opportunities for the City of Irvine, highlighting key innovation industries with the greatest potential to generate high-quality jobs in the region through 2030. 

The report combines the research from key stakeholders from the City and its economic and workforce development partners including academia, local businesses, and local venture capital investors.

Key findings from the report include:

Drivers of Irvine's innovation economy:

• Healthcare innovation

• Medical technologies

• Enabling and creative technologies

Strengths of the City of Irvine:

• Vibrant local business community, with small and large anchor businesses well-served by local government.

• A planned community built on high-quality educational institutions and a well-educated workforce.

• A community that provides a high quality of life, attracting entrepreneurs, investors, and business leaders. 

Growth Potential:

• The City of Irvine, is classified as a "Moderate Innovator," with opportunities for growth in patent activity, new business formation, federal research and development spending, and university research and development spending.  

Using this data-driven approach in the City's strategic planning efforts allows us to efficiently leverage its existing assets while attracting outside resources to build a more prosperous and resilient economy.

The report was presented to the Irvine City Council at the January 28 meeting.

View the full report online. View a brief presentation that summarizes the report's finding.  

Sign up for updates regarding Irvine's Economic Development. Learn more at cityofirvine.org/economic-development.