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LAEDC Announces 2013 Eddy Awards Honorees

By November 4, 2013 No Comments

SpaceX, University of Southern California and Yang Ho Cho to be recognized at November 14th gala for their extraordinary leadership and contributions to the greater Los Angeles community


LOS ANGELES, CA – (November 4, 2013)  The Los Angeles County Economic Development Corporation (LAEDC) today announced SpaceX, University of Southern California and Yang Ho Cho – Chairman & CEO of Korean Air as its 2013 Eddy Awards® honorees. Inaugurated in 1996, the annual Eddy Awards gala has become the most important economic development award program in the state of California. This year’s 18th anniversary event, which includes the announcement of Most Business Friendly City awards , will be held on Thursday, November 14, 2013 at the Beverly Hilton Hotel.


“I want to congratulate the 2013 Eddy Awards honorees and welcome them to an extraordinary group of leaders and visionaries that have left their mark on Los Angeles County,” said LAEDC Chief Executive Officer Bill Allen.  “In each of their respective fields, this year’s honorees played a leading role in building The Los Angeles County economy, whose gross product is larger than 45 states in the Union.”

SpaceX designs, manufacturers, and launches the world’s most advanced rockets and spacecraft.  Founded in 2002 by Elon Musk, the company is revolutionizing space technology, with the ultimate goal of enabling people to live on other planets.  SpaceX continues to expand and create aerospace jobs in Los Angeles County, with nearly three thousand local employees.  SpaceX and its highly skilled workers are reinforcing the reputation of Los Angeles County as a leader in innovation and aerospace ingenuity. For its stellar contribution to the local economy, SpaceX is a 2013 Eddy Award honoree.

The University of Southern California is one of the world’s leading private research universities. An anchor institution in Los Angeles, a global center for arts, technology and international business, USC enrolls more international students than any other private research university in the U.S.   Home to more than 40,000 students, 3,500 full-time faculty and 12,000 staff, USC is the largest private employer in the city of Los Angeles. Continuing to add vitality to the regional economy, the University recently launched The USC Village redevelopment — the largest economic development project to be proposed in South Los Angeles. It will be an economic engine for the City and County of Los Angeles, generating approximately 12,000 new jobs (4,000 construction-related, 8,000 permanent), and infusing funds into our local economy. In addition to dining and retail, USC Village will provide housing adjacent to campus, reducing traffic in the neighborhoods and freeing up housing in the community for local residents.  For this vision, and the many other ways that USC continues to energize the growth of our regional economy, USC is being recognized as a 2013 Eddy Award honoree.


Yang Ho Cho is the Chairman, CEO and major shareholder of the Hanjin Group, a global transportation conglomerate of 45 companies in the aviation, maritime and ground transportation industries which includes Korean Air, Hanjin Shipping, Hanjin Transportation as well as ground handling companies, private educational institutions, and not-for-profit foundations.  For 40 years, Korean Air and Hanjin have been an integral part of Los Angeles’ economic growth. Recognizing the importance of the County as a business and leisure destination for world travelers, Mr. Cho is making a significant investment in the construction of a world-class building at the site of the former Wilshire Grand hotel in downtown Los Angeles.  It is estimated that the development project will infuse $1 billion into the local economy, producing as many as 11,000 temporary and 1,750 permanent jobs, and strengthening the travel and tourism industry of Los Angeles.  The 2013 Eddy Awards recognize Yang Ho Cho’s personal connection with Los Angeles and his continuing and lasting positive influence on regional economic development.


About the Eddy Awards ®

The Eddy Awards® were introduced by the LAEDC in 1996 to celebrate individuals and organizations that demonstrate exceptional contributions to positive economic development in the region.  For sponsorship and event information, please contact Marilyn McPoland at (213) 236-4812 or[email protected].  For more information about the Eddy Awards®, visit


 About the LAEDC

The LAEDC, the region’s premier economic development leadership organization, is a private, non-profit public benefit organization established in 1981. Its mission is to attract, retain, and grow business and jobs for the regions of Los Angeles County.  Since 1996, the LAEDC has helped to retain or attract more than 188,000  annual jobs in Los Angeles County with an estimated labor income, including wages and benefits, of $11.8 billion. Taken together with the supported indirect and induced economic activity, a total of more than 400,000 annual jobs with labor income of more than $21 billion were impacted, accounting for an estimated $850 million in property and sales tax revenues to the County of Los Angeles.


LAEDC Media Contact: 

Lawren Markle / 213-236-4847 / [email protected]