Orange County Business Council

Day 2 of OCBC’s 2025 Sacramento Advocacy Trip is complete! Engaging with legislative leaders to discuss policies effecting the economy of the nation’s sixth most populous county was impactful.?Thank you to Day 2 speakers Senator Catherine Blakespear; Kevin Gould, California Bankers Association President & CEO; Karla Nemeth, California Department of Water Resources Director; Assemblymember Cottie Petrie-Norris; Senator Tom Umberg; Gabriel P., Legislative Analyst; Michael R. O. Martinez, California Department of Insurance; and Fiona Ma, California State Treasurer's Office for meeting with us. View OCBC’s 2025 State Policy Guide: ?https://lnkd.in/gVp2gUTw

Thank you to Assemblymember Davies for coordinating a joint-resolution with the entire OC Delegation congratulating Orange County Business Council on 30 years as an organization. This was such a fantastic way to wrap up our Sacramento Advocacy Trip!! Thank you to Assemblymember Davies and to the entire OC delegation.

“[The FAIR Plan] is a state statutory entity created in the 1960s after LA experienced some civil unrest and as a result, commercial and some home insurance companies left and didn’t write…many were left without insurance.” - Michael R. O. Martinez, California Department of Insurance California's ongoing insurance crisis has left many homeowners and businesses struggling to find affordable coverage, particularly in high-risk areas prone to wildfires. The FAIR Plan has emerged as a crucial safety net, providing coverage for those unable to obtain insurance through traditional carriers. However, it’s important to understand that the FAIR Plan is not meant to be a long-term solution—it's designed as the insurer of last resort. While it offers essential protection, it often comes with higher premiums and limited coverage compared to standard policies. As such, the FAIR Plan should not be viewed as the end-all-be-all; rather, it underscores the need for broader reforms and innovative solutions to address the root causes of the crisis and restore stability to the insurance market in California. #OCBCAdvocacy

“The affordability problems in California are not gonna get worse before they get better.” - Gabriel P., Legislative Analyst’s Office California's rising unaffordability, driven by high housing costs and living expenses, is increasingly eroding the state's competitiveness. As costs continue to soar, businesses may find it harder to attract and retain talent, especially as workers are priced out of key urban areas. This can lead to a talent drain, with skilled professionals seeking more affordable opportunities in other states. Additionally, high operational costs, from real estate to wages, may push businesses to reconsider their locations or expansion plans. For companies, this means potentially higher expenses and reduced growth prospects, further weakening California's position as a business hub. As the cost of doing business increases, the state risks losing its competitive edge in industries that drive innovation and economic growth. #OCBCAdvocacy

“The [AI] standards are so inconsistent… and whatever California does will set the national standard.” - Senator Umberg, Chair, Judiciary Committee California's approach to AI regulation is poised to set a precedent for national standards, given the state's influential role in the tech industry. As AI rapidly becomes a key policy priority for businesses, including companies like OCBC, it is crucial to stay ahead of emerging regulations. California's efforts to regulate AI could shape the tone of future policies, balancing the need for innovation with safeguards to ensure ethical practices. Businesses are increasingly recognizing AI’s potential to drive growth. The impact of California’s actions will likely ripple across the nation, influencing both the pace and nature of AI adoption in business. #OCBCAdvocacy

“We’ve got to build an energy portfolio that is sustainable, reliable, and affordable.” - Assemblymember Cottie Petrie-Norris, Chair, Committee on Energy & Utilities Building a reliable, sustainable, and affordable energy portfolio is essential for the long-term prosperity of any state. A diversified energy mix not only ensures that energy is consistently available to meet growing demand, but also supports the transition to cleaner, more environmentally responsible sources. By investing in renewable energy and modernizing infrastructure, states can reduce reliance on imported fuels, lower greenhouse gas emissions, and create a more resilient energy system. For businesses, access to stable and affordable energy is a key factor in decision-making, influencing operational costs and competitiveness. A sustainable energy portfolio drives economic development by attracting green technology industries, creating jobs, and fostering innovation. Ultimately, it lays the foundation for a thriving economy that can adapt to future challenges while ensuring environmental stewardship and energy security. #OCBCAdvocacy

“Frequent calls for water conservation is not the answer. We need calls to invest into the infrastructure so we are better prepared.” - Karla A. Nemeth, California Department of Water Resources Investing in water infrastructure is crucial for ensuring future reliability and preparedness, and OCBC supports bills like AB 514 (Petrie-Norris) - sponsored by Irvine Ranch Water District (IRWD) - which would provide critical flexibility and encourage local solutions to guarantee businesses have access to emergency water supplies during times of drought or service disruptions. This bill promotes economic stability, sustainability, and resilience within California's water management system, which is essential for the continued success and growth of businesses across the state. By backing AB 514, OCBC is advocating for policies that safeguard business operations and contribute to a more reliable and sustainable water system. #OCBCAdvocacy

“There is optimism that the [banking] industry will enter a more friendly environment under the new Administration.” - Kevin Gould, California Bankers Association As federal banking regulations may become more relaxed, state regulators might try to fill the gap and tighten rules in the name of "consumer protection." This creates a challenge for businesses operating across state lines, as they must navigate varying regulations. While federal flexibility promotes growth, states may impose stricter measures to prevent consumer harm. Finding a balance between federal and state regulations will be key for the stability and growth of the banking sector. #OCBCAdvocacy

A successful first day at OCBC’s 2025 Sacramento Advocacy Trip ensuring that OC's voice of business is heard loud and clear! Thank you to yesterday’s speakers Assemblymember James Gallagher, Republican Leader; Assemblymember Juan Alanis; Senator Dave Cortese; Senator Brian Jones, Minority Leader; Skylar Wonnacott, California Business Properties Association; Jennifer Barrera, California Chamber of Commerce President & CEO; Dan Dunmoyer, California Building Industry Association President & CEO; Zack Olmstead, California Department of Housing & Community Development Chief Deputy Director; and Assemblymember José Luis Solache, Jr. Check out today’s line-up and view OCBC’s Sacramento policy guide, https://lnkd.in/gVp2gUTw

“We need to streamline the permitting process… we often get in our own way… this needs reform.” - Senator Catherine Blakespear, Chair, Committee on Environmental Quality Streamlining the permitting process, especially for infrastructure projects, is crucial for fostering progress and ensuring that communities and economies thrive. While maintaining environmental quality is undeniably important, overly complex and delayed permitting processes can stifle innovation and hinder the development of necessary infrastructure. These inefficiencies not only slow down critical projects but also contribute to increased costs and missed opportunities. By finding a balanced solution—one that safeguards the environment while accelerating approvals—we can reduce unnecessary roadblocks and enable faster, more effective construction of vital infrastructure. #OCBCAdvocacy