Durnin: Orange County has long been a draw for company headquarters that prefer a campus style or low-rise environment that suits their culture with access to a great labor pool. Orange County offers developable land, more-affordable office rents and housing options. It's ideally situated between Los Angeles, the Inland Empire and San Diego, giving it access to gateway and secondary markets. Currently, the 115 companies headquartered in the OC tend to skew toward the tech-related industries. Though LA attracts tech companies that harmonize with entertainment, OC tech companies are more IT and software-related. Health, financial services and advertising/marketing are also strong industries. Lastly, the quality of life is exceptional, and generally speaking, from an operational standpoint Orange County is a less-expensive alternative overall as compared with markets such as Santa Monica and others.

GlobeSt.com: What is the region is doing to cater to those companies?

Durnin: In order to attract and retain talent, landlords and developers are moving toward the creative-office platform. Orange County has developed new space and repositioned many existing assets. These new spaces are commanding premium rents and occupancy levels. The product that is being delivered has been exceptional. Irvine has a strong university system, which feeds the labor force. The skilled talent at the Fortune 500 companies here are the entrepreneurs who will launch new ventures, which attracts VC funding.

GlobeSt.com: What more could the region do to attract startups?

Durnin: Establishing a solid incubator program could boost the start-up community and leverage relationships with large companies that would encourage entrepreneurship and facilitate growth. Secondly, building additional housing. Housing continues to be short on supply, but the county has made great strides over the last few years with multiple new developments across all counties.

GlobeSt.com: What else should our readers take away about Orange County from this report?

Durnin: Orange County's economy has diversified dramatically throughout this cycle, strengthened by growth in many sectors. This spectacular and broad-based recovery better positions it to withstand future downturns. In the past, Orange County relied heavily on a few business sectors to drive growth. Today, the area is much more diversified across private and corporate businesses, and the entrepreneurship culture and spirit continue to blossom here.

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ORANGE COUNTY, CA—Those companies that prefer a campus-style or low-rise environment, access to a great labor pool, proximity to gateway and secondary markets and a less-expensive alternative to L.A. choose Orange County, Petra Durnin, CBRE's head of research and analysis for Southern California, tells GlobeSt.com. According to a recent report from the firm, Inc Magazine's latest list of the 5,000 fastest-growing companies in the US included 296 businesses in L.A. and Orange County, ranking the metro area third in the nation. When adding the 41 startups in neighboring Ventura and the Inland Empire, the region accounted for approximately half of the 670 California companies listed.

The report also revealed that Orange County hosts 115 company headquarters, led by Costa Mesa-based Club Pilates Franchiser, a company that is in fourth place nationally.

We spoke with Durnin about why companies choose Orange County as their home base and how the region is working to attract and retain them.

GlobeSt.com: Why do so many companies choose Orange County for their headquarters location as opposed to other Southern California markets?

Durnin: Orange County has long been a draw for company headquarters that prefer a campus style or low-rise environment that suits their culture with access to a great labor pool. Orange County offers developable land, more-affordable office rents and housing options. It's ideally situated between Los Angeles, the Inland Empire and San Diego, giving it access to gateway and secondary markets. Currently, the 115 companies headquartered in the OC tend to skew toward the tech-related industries. Though LA attracts tech companies that harmonize with entertainment, OC tech companies are more IT and software-related. Health, financial services and advertising/marketing are also strong industries. Lastly, the quality of life is exceptional, and generally speaking, from an operational standpoint Orange County is a less-expensive alternative overall as compared with markets such as Santa Monica and others.

GlobeSt.com: What is the region is doing to cater to those companies?

Durnin: In order to attract and retain talent, landlords and developers are moving toward the creative-office platform. Orange County has developed new space and repositioned many existing assets. These new spaces are commanding premium rents and occupancy levels. The product that is being delivered has been exceptional. Irvine has a strong university system, which feeds the labor force. The skilled talent at the Fortune 500 companies here are the entrepreneurs who will launch new ventures, which attracts VC funding.

GlobeSt.com: What more could the region do to attract startups?

Durnin: Establishing a solid incubator program could boost the start-up community and leverage relationships with large companies that would encourage entrepreneurship and facilitate growth. Secondly, building additional housing. Housing continues to be short on supply, but the county has made great strides over the last few years with multiple new developments across all counties.

GlobeSt.com: What else should our readers take away about Orange County from this report?

Durnin: Orange County's economy has diversified dramatically throughout this cycle, strengthened by growth in many sectors. This spectacular and broad-based recovery better positions it to withstand future downturns. In the past, Orange County relied heavily on a few business sectors to drive growth. Today, the area is much more diversified across private and corporate businesses, and the entrepreneurship culture and spirit continue to blossom here.