LOS ANGELES, CA – (November 14, 2013) Tonight at the 18th annual Eddy Awards, the Los Angeles County Economic Development Corporation (LAEDC) recognized the City of Lancaster as the Most Business Friendly City with a population greater than 50,000 and the City of La Mirada as the Most Business Friendly City with a population under 50,000.
“This year’s Most Business Friendly Cities, Lancaster and La Mirada, understand that domestic and global competition for jobs, businesses and entire industries has never been fiercer,” said Bill Allen, LAEDC president and CEO. “The City of Lancaster vigorously competes by training its residents for tomorrow’s jobs, not for yesterday’s; by keeping costs and fees down to attract new businesses and jobs; and by supporting its start-up sector, which will drive the city’s economic growth in the future.”
“Not to be outdone in this global competition, the City of La Mirada forcefully competes by developing and implementing its own strategic plan for economic development to increase investment and boost the city’s ability to attract and retain businesses and jobs; by institutionalizing a red tape to red carpet ethos that permeates all of its business-facing activities; and by rolling out the official welcome mat with city council members regularly visiting with community businesses. Both of these cities’ most business friendly best practices are ones that every LA County city serious about succeeding in this global competition would be well advised to replicate.”
Photos of the honorees are available at http://www.flickr.com/photos/laedc/sets/72157637393835614/
The winners were selected based on the following criteria:
o Demonstrated commitment to economic development as a priority
o Programs and services designed to facilitate business entry, expansion, and retention
o Economic development activity over the past three years
o Competitive business tax rates and fee structures
o Availability of economic incentives
o Effective communication with and about business clients
City of Lancaster, 2013 Eddy Award winner in the population 50,000+ category:
Considered one of the least expensive places to conduct business by the Kosmont-Rose Survey, Lancaster’s economic stimulus package, streamlined permit process, and reduced transactions fees have spurred economic, community and real estate development. The downtown revitalization project created a vibrant urban center with 50 new businesses and hundreds of new jobs.
City of La Mirada, 2013 Eddy Award winner in the population under 50,000 category:
La Mirada develops and follows a strategic plan for economic development, and assists businesses with tax savings, low fees for business licenses and development, minimal red tape, quality customer service, expedited permit processing, and online business licenses. La Mirada was recognized in the Kosmont-Rose Survey as an inexpensive place to conduct business, and ranked 34th Best Place to Live in America by CNN and has achieved a low unemployment rate of 6%.
EDDY AWARD HONOREES
LAEDC also recognized three private sector honorees for their outstanding leadership in economic development throughout L.A. County; SpaceX, University of Southern California, and Yang Ho Cho.
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. SpaceX continues to expand and create aerospace jobs in Los Angeles County, with nearly 3,000 local employees. SpaceX and its highly skilled workers are reinforcing the reputation of Los Angeles County as a leader in innovation and aerospace ingenuity.
The University of Southern California (USC) 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. USC is the largest private employer in the city of Los Angeles. The University recently launched The USC Village redevelopment — the largest economic development project to be proposed in South L.A, which will generate approximately 12,000 new jobs, 4,000 construction-related, and 8,000 permanent.
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. 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 project will infuse $1 billion into the local economy, producing as many as 11,000 temporary and 1,750 permanent jobs, and strengthening the region’s travel and tourism industry. The Eddys celebrate Yang Ho Cho’s personal connection with Los Angeles and his continuing and lasting positive influence on regional economic development.
About the Eddy Awards www.laedc.org/eddy
The Eddy Awards celebrate public and private excellence in LA County economic development, with The Most Business-Friendly City Award, and with the recognition of individuals and private organization honorees that demonstrate exceptional contributions to positive economic development in the region.
About the LAEDC www.LAEDC.org
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 190,000 annual jobs in Los Angeles County with an estimated labor income, including wages and benefits, of $11.8 billion. Taken together with the 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]