The Southern California economy is going to flourish in the next decade, according to a report by a Palo Alto-based think tank.

The Center for Continuing Study of the California Economy expects the region to add 1.1 million jobs, 2.2 million residents and more than 800,000 households in the next 10 years, fueled by newcomers replacing retiring baby boomers.

“That's pretty good for a very big region," said Stephen Levy, director of the independent economic research organization. “The question is whether residents and political leaders are committed to making the region a great place to live and work so that companies and families will want and be able to locate here.”

The report said the region's port complex, the nation’s largest, will generate most of those new jobs over the next 10 years, driven mainly by the ports aggressive expansion plan and growing relationship with China. That relationship already accounts for $100 billion of the $300 billion in trade the two ports handle annually.

The study also said that new developments, such as the newly approved Grand Ave. project as well as the massive L.A. Live facility, will benefit the tourism and entertainment industries, bringing hoards of tourists and business to the local area over the next decade.

And a drop in homebuilding and losses in real-estate-related jobs will be offset by billion-dollar gains in local commercial and industrial projects, the study said.