Economy

June Casagrande NEWPORT BEACH -- The proposed $142.1-million city budget could pass with little or no controversy -- a rarity in most years, not to mention one in which times are tough. Despite fears that a slow economy could mean cutbacks, city staff have managed to come up with a status quo spending plan. Shrinking sales tax revenues have been offset in part by about $4.6 million in property taxes from the newly annexed Newport Coast. And, to play it safe, staff decided not to count on the roughly $2.7 million it was slated to receive from the state for vehicle license fees.

Applications to Orange Coast College have shot up this year, but the school won’t be getting any more money to accommodate the extra applicants, officials said. OCC’s applications rose by 17% last year, said Dean of Enrollment Services Kristin Clark. That’s far more than the usual few percent rise, but something to expect in a recession, she said. “It’s significant, but we weren’t very surprised,” Clark said. “That’s kind of the trend going on with California community colleges.

S.J. Cahn The economic brakes may still be on, but that isn't slowing car sales in Newport-Mesa, particularly of luxury cars and SUVs. One of the area's most high profile dealers, Fletcher Jones Motorcars, produced almost $241 million in revenue during the first six months of the year, an 8% increase compared to the same six months in 2002. The dealer sold 2,659 new vehicles and 1,001 used models between January and June. Those numbers exceeded initial expectations, said Garth Blumenthal, general manager of Newport Beach-based Fletcher Jones.

Two Costa Mesa nonprofit organizations serving the poor will combine resources, officials announced Wednesday. Share Our Selves, a large charity on Superior Avenue that provides homeless and low-income clients with medical care, food, monetary assistance and a variety of other programs, is swallowing up Families Costa Mesa, a much smaller Westside organization focused on services for children newborn to 5 years old. No staff will be laid...

MIKE WHITEHEAD Ahoy. Last week, I mentioned how other cities are recognizing the economic value of boating, and as such, these cities are actively enticing marine businesses to their areas. The National Marine Manufacturers Assn. reported that the recent Miami Boat Show alone adds $600 million to the local economy and that the marine industry in Florida more than doubles the economic output of the citrus industry. Yet, we forget how vital boating and the marine businesses are to our area, and that our harbor is a diamond in the rough that we have the potential to polish into the world's boating mecca.

Lindsay Sandham The inaugural First Team Real Estate Invitational Regatta, a fundraiser benefiting Hoag Hospital's Heart and Vascular Institute, will take place May 20 to 22 off the Newport Pier, and many local businesses are gearing up for the expected influx in tourism. Executive director of the Newport Beach Conference and Visitors Bureau Marta Hayden said she expects it will be good for the tourism industry in Newport Beach. "Obviously, it's going to have a positive, great effect, and we're very excited," she said.

The 103-foot Princess Yoli Ni spent most of its life cruising around Mexico, the Bahamas and the Florida coast before its owner traded up to a 125-footer. The biggest yacht at the Newport Boat Show, which kicks off today, the Princess Yoli Ni, is a steal at $1.75 million, said Northrop and Johnson yacht broker Paul Daubner. “There’s a lot of trading going on now,” a lot of people are up-sizing as well as downsizing,” said Daubner, who has been attending the boat show for the past 10 years.

The Los Angeles area's arts and entertainment industries lost thousands of jobs from 2007 to 2010, according to a study of the "creative economy. " The findings for 2010 commissioned by Otis College of Art and Design and compiled from state and federal government figures by the Los Angeles County Economic Development Corp. showed a loss of 21,500 jobs and an 11% decline in employment in the three years. Known as the Otis Report on the Creative Economy of Los Angeles and Orange Counties, the study encompasses both traditional arts and entertainment categories and five additional fields that the researchers consider to be part of the region's broader creative economy.

NEWPORT BEACH — The post-recession consumer expects more value and better service for less cash, prominent community business leaders said Wednesday. The Newport Beach Chamber of Commerce hosted "Strategies for Growth in a Recovering Economy," a morning seminar at Newport Beach Lexus dealership. Panelists included Jim Walker, owner of The Bungalow; Gary Sherwin, president and chief executive of Visit Newport Beach Inc.; Bobby Sento, sales manager at Newport Lexus; Gavin Herbert Jr., president and CEO of Roger's Gardens; and Shannon Fowler of the American Cancer Society.

Several Orange County cities help drive economic growth in Southern California, a UC Irvine study shows. The data, which the university made public Thursday morning, show that the Newport Beach, Newport Coast, Costa Mesa, Irvine, San Joaquin Hills and Laguna Beach areas - defined in the study as the "Irvine cluster" - provided the most white- and blue-collar jobs per person in Southern California. The cluster ranked second for retail jobs behind Santa Monica, according to the study.