Family-owned businesses represent 70% of new jobs created in the U.S. and 57% of the country’s GDP, according to statistics delivered by Kelly Vlahakis-Hanks as part of her keynote address at the 23rd annual Family-Owned Business Awards ceremony on June 2.

Vlahakis-Hanks knows firsthand the value of family businesses as the chief executive of ECOS, a Cypress-based provider of sustainable cleaning products founded by her father in 1967.

The Business Journal event celebrates distinguished OC-based family-owned firms who have made noticeable community contributions and business accomplishments.

Nearly 350 people attended the ceremony at the Irvine Marriott. It was the third of six in-person Business Journal events scheduled this year.

Pinnacle Petroleum, Inc. was honored in the Small Business Category at the awards ceremony last week.