Completed SPĒD L.A., our region’s Strategic Plan for Economic Development!

In early 2016, LAEDC published the 2016-2020 L.A. County Strategic Plan for Economic Development, our region’s consensus blueprint for confronting the jobs crisis and achieving greater prosperity for L.A. residents. The Plan was informed by a year of foundational work including 25 public meetings with leaders from over 500 organizations spanning the public and private sector, academia, not-for-profit, labor, and government. Participants were encouraged to see LA County Board of Supervisors take immediate action in support of the Plan and LAEDC will be collaborating with many regional stakeholders through 2017 to help advance the Plan’s strategies.

Helping Businesses Create Jobs in L.A. County

LAEDC directly helped 172 businesses overcome challenges through strategic, confidential consulting resulting in 11,389 jobs either retained or created in L.A. County during our fiscal year ended June 30, making a huge impact in the lives of families in our region. LAEDC also increased outreach to Spanish-speaking businesses during 2016.

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Studying and Addressing the Impending Jobs Crisis

LAEDC is raising awareness of the rapid economic transition that is dramatically impacting the future of jobs in L.A. and throughout the U.S.  Our content on this topic is essential viewing for all our partners and those interested in understanding the changing nature of economic opportunity for our residents, as we move further into the information age.  A great deal of our work in 2016 was dedicated to finding solutions to our region’s job crisis, including our work below on the Strategic Plan.

Fostering Key Industry Clusters

Well-paying jobs are created by our key industries, especially those that sell goods and services globally. LAEDC’s work on Aerospace and the success of SoCal Aerospace Council, along with the e4 Mobility Alliance and its work fostering the Advanced Transportation sector set a stronger foundation for job creation in those clusters of L.A.’s thriving economy. LAEDC also delivered this year the Los Angeles County Bioscience Industry Cluster Development Implemetation Plan to LA County to serve as an actionable strategy for the growth of bioscience (biotech, biomed) in our region, from job creation and workforce development, to advancing and commercializing technology, facilitating capital investment, and developing a real estate strategic ally to cluster firms in biotech parks.

Increasing Global Connections

LAEDC subsidiary World Trade Center L.A. published its Foreign Direct Investment (FDI) report to quantify the importance of global connections to jobs in L.A. County, hosted the very successful Select L.A. Investment Summit, and also shared the importance of our work with President Barack Obama and German Chancellor Angela Merkel (left) while raising L.A’s profile in international markets, at Hannover Messe and elsewhere.

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Research to Inform Decisions

LAEDC’s research team published a widely cited and favorable analysis of Measure M, delivered the most comprehensive analysis ever of our SoCal Aerospace Industry, and provided actionable forecasts of occupation and skills needs, to better inform workforce development.  LAEDC published an economic update, which describes our current economic trajectory.  And that just scratches the surface of LAEDC’s research during 2016.

AltaSea Marine Research Park – LAEDC and Public Landowners Working Together

LAEDC’s subsidiary ActivateLA helped the cutting-edge AltaSea Business Park obtain $3,000,000 in EDA funding to develop infrastructure and activate this publicly-owned land parcel, which will improve job opportunity and put L.A. at the heart of research and commercialization of new ocean-related technology (Blue Tech), with potential for global impact.

Partnerships to Prepare our Workforce

LAEDC is ramping up our work with partners such as the Community College Districts, Workforce Development Boards, and other key organizations to ensure that our residents are gaining the specific skills required by our local industries and employers, now and in the future, to improve access to economic opportunity while ensuring our key industries have the talent they need to grow.  Our People, Industries, Jobs report is one resource.

Public Policy Action to Benefit Jobs in L.A. County

Sacramento sometimes needs assistance framing legislation and improving incentives, and LAEDC is there with smart public policy advocacy that leads to jobs creation, on such issues as financing for infrastructure, R&D tax credits, and a host of bills supporting key industries in L.A. County, like aerospace, advanced transportation, and trade & logistics.

Catalyzing Innovation: InnovateLA 2016

LAEDC continues to showcase and foster growth of the innovation ecosystem throughout L.A. Spanning three weeks, InnovateLA 2016 saw more than 150 events take place throughout the county, highlighting innovative technologies in cleantech, manufacturing, bioscience, and civic engagement, and the launch of the La Kretz Innovation Campus at the L.A. Cleantech Incubator. Another example is the partnership between Blackstone LaunchPad and LAEDC, which has led to the creation of more than 120 businesses and 698 jobs in those new enterprises spawned at three of our region’s universities: UCLA, USC, and UC Irvine.

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Recognizing Leadership in Economic Development

This year’s Eddy Awards drew attention to the extraordinary positive impacts on our regional economy made by AECOM, CSU Long Beach, and Brian Lee, Co-Founder of The Honest Company, and recognized the Cities of Santa Clarita and Pico Rivera as the Most Business Friendly Cities in L.A. County.

LAEDC Launched Two New Event Series in 2016

R.E.D. Talks (Regional Economic Development Talks) kicked off at the headquarters of Marina del Rey based Dollar Shave Club, where CEO and Founder Mike Dubin discussed his company’s success and how L.A. County’s creative and diverse workforce helped lead to its reported $1 billion acquisition by Unilever. Our second new series, Future Forum, explored emerging issues in two important employment sectors, healthcare and cybersecurity.

All made Possible by…

Our LAEDC Members, who support LAEDC’s vision of higher standards of living for all L.A. County residents! Interested in supporting our mission? Learn how you can support LAEDC here.

Become A Member