Diversity has been the key to sustaining job growth. The healthcare and education industries have led job growth in the Orange County market over the last 15 years, according to a report from JLL. However, the market has seen substantial job growth in leisure and hospitality, construction and professional and business services industries as well. The diversity of job growth has helped to create sustainable job, office and local economic growth.

“As the saying goes, 'don't put all your eggs in one basket.' It is great advice that not only bears relevance on the farm but also in an economy and within a company,” Paulina Torres, research analyst at JLL, tells GlobeSt.com. “In the same way experienced investors spread their capital across different industries, companies would also reap the benefits of sustainable, long-term growth by approaching their business strategy in the same manner. A uniform consumer base makes a company completely vulnerable to any changes that may negatively impact that base.”

These diversified companies have also helped fuel growth into other market, strengthening the core brand. “Companies with diversified products/services can tap into more markets, increase their technological capabilities with increased R&D, and benefit from cross selling and brand equity, and expand their client base,” adds Torres. “Pacific Life, for example, headquartered here in Newport Beach, has made several acquisitions that have greatly diversified the company and allowed it to stand the test of time.”