July 15, 2013
Steve Rapattoni, Partner-in-Charge of the Irvine Office, Featured in the Orange County Business Journal Article "Accountants Talk Business in Upturn"
I am fairly optimistic about the economy, and I think things will continue to improve. The June job numbers were better than expected, and companies are hiring, which of course is good news for the economy as a whole but also for us, because as companies expand, so does their need for accounting and advisory services.
Orange County experienced significant job growth in the first two quarters, which is now impacting a robust real estate market. We should expect to see the construction industry continue its comeback the second half of the year, as further evidenced by the announcement of several new real estate IPOs .Several of my clients have been successful in raising capital and are more confident in taking the opportunity to expand into new markets, including overseas. For example, the solar industry, which has benefited from government subsidies and reduced materials costs, is currently experiencing significant growth and expansion within Southern California, as well as the neighboring Western states. Some of this expansion is a result of joint ventures with overseas investors, as well as a credit market with an appetite for financing residential and commercial projects. Our clients are looking for us to assist them in locating the capital and structuring from a tax standpoint