Business Leader is a regular newsletter of the Los Angeles County Economic Development Corporation.
| Top News House passes Bipartisan Budget Act of 2013 with widespread bipartisan support (322-94), which would provide $63 billion in sequestration relief over two years LAEDC has consistently advocated for budgetary progress that avoids sequestration, and its damaging economic consequences. Our communications with policymakers, informed by economic analysis are designed to assist positive outcomes. See the most recent communique from LAEDC related to sequestration
LA Jobs Defense Council supports the Aerospace Industry  The LAEDC’s LA Jobs Defense Council is a network of Southern California-based organizations and leaders from the business, labor, education, nonprofit, and public sectors dedicated to supporting and protecting the many hundreds of businesses, the hundreds of thousands of workers, the countless families and the entire communities throughout the Greater Los Angeles region that depend on a thriving and expanding Aerospace industry.Learn more about the Council’s objectives, get involved with this LAEDC initiative, and take action to assist! Bay Delta Plan: It’s Not North versus South
 Ensuring a secure, reliable and affordable supply of clean drinking water is not only critical to our economy, but to protecting our quality of life.Read the Op-Ed article authored by LAEDC president Bill Allen and Ed Casey, Chair, LAEDC Water Committee which appears in the Los Angeles News Group various newspapers throughout the region.
LAEDC and City of Hawthorne work together to help SpaceX expand its footprint
LAEDC facilitates key conversations Not only is aerospace alive and well here in Los Angeles County, but with leading-edge, anchor companies like SpaceX, we are continuing to push the creative limits, to change the contours of the aerospace industry and to expand the creative bounds of what is possible in space travel. We are proud to be home to SpaceX – a company that personifies our region’s boundless creativity, our transformative design prowess and our unlimited capacity to innovate. Since SpaceX’s founding in 2002, the company has grown from three employees to over 3,500, with roughly 3,000 working at the company’s headquarters in Hawthorne. LAEDC, Los Angeles County and the local South Bay community have all contributed to the process that has allowed SpaceX to successfully continue to expand operations and compete in the international launch services market. SpaceX has expanded its infrastructure significantly in the last year and the company’s headquarters now occupies roughly one million square feet. SpaceX is committed to hiring locally, with 275 trainees currently being taught advanced manufacturing skills. The LAEDC assists businesses by facilitating a team of resource and service providers to support job creation and retention. This includes working with municipalities and their permitting departments to maintain open lines of communication, streamline the approval process, and provide expertise related to the economic development benefits of the project. Learn more about how the Business Assistance Program can help your organization Coming Soon: LAEDC China Report
LAEDC’s Kyser Center for Economic Research is preparing a report expanding on our earlier work on China-Los Angeles Trade & Investment, which will be published on the LAEDC website in the near future. Highlights of the forthcoming report include: 1) China is now ranked #1 as far as overseas tourists to LA 2) Value of 2-way trade in the Los Angeles Customs District has grown from $155 billion in 2009 to $212 billion in 2012 3) Foreign Direct Investment (FDI) by China in Los Angeles County has doubled from 2007 to 2012 LAEDC’s Kyser Center for Economic Research analyzed the latest Bureau of Labor Statistics Report. “The labor market remains on solid ground in the aftermath of the government shutdown in October,” said LAEDC Chief Economist Robert Kleinhenz. “The unemployment rate fell to 7.0% in November, the lowest in five years, while wage and salary jobs posted a steady increase, with job gains occurring across all the industries.” Read more. UPCOMING EVENTS: This is an important opportunity to help craft the tax credit to spur economic growth. Learn more. VerdeXchange Conference for Clean & Green Marketplace, Jan 26-28 in Los Angeles LAEDC Members get 20% discount with code Policy & Legislation Update Implementing Senate Bill (SB) 617
LAEDC provided critical input on regulations to implement SB 617, requiring rulemaking agencies to conduct economic impact analysis on all “major regulations” with $50 million or more in expected costs. Go here for the LAEDC’s 2013 policy report card.
Coming Soon: LAEDC preparing comments to
guide the CA Competes Tax Credit
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Key Economic Indicators for LA County:
Employment chart for Los Angeles County (click on image for full size)
Unemployment: 9.7% (Down 8/10ths of a percentage point from one year ago)
(Below) Chart illustrating container movement volume at the combined ports complex (click on image for full size):
October 2013 Data: Total of 1,260,710 TEUs, which is 1% higher than October 2012.
Year-to-date the quantity is up 2.3% from this time last year (see right side of chart for YTD comparison 2012-2013)
LAEDC In The News
Member Highlights
Work progresses on the 73-story skyscraper in downtown Los Angeles
Please Welcome New Members to the
LAEDC Executive Committee:
American Logistics International
California State University-Los Angeles
California State University-Northridge
Chevron
O’Melveny & Myers LLP
Turner Construction
University of Phoenix
Our sincere thanks for their commitment to the LAEDC mission. LAEDC would like to thank all its members! Special thanks to the County of Los Angeles
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