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Study Reveals Significant Economic Contribution of Aerospace Industry in Southern California

By March 1, 2016 No Comments

Southern California also home to sectors shaping future of the industry

LOS ANGELES, CA – (March 1, 2016)

aero cover

To Download a Copy of the Report – Please Click the Cover Pictured Above.

Today, the Los Angeles County Economic Development Corporation (LAEDC), in coordination with San Diego Regional Economic Development Corporation (San Diego Reginal EDC), released the results of a comprehensive Southern California aerospace industry cluster study, an in-depth analysis, authored by LAEDC’s Dr. Christine Cooper, that describes the highly developed industry cluster across eight Southern California counties, and provides insight into industry drivers, trends, and the economic contribution of aerospace as an economic engine for the SoCal region.

Released during California Aerospace Days 2016 (#CAAERODAYS) in Sacramento, the report, entitled The Changing Face of Aerospace in Southern California, examines the industry’s impact today and looks at the trends that will impact the industry tomorrow, and contains key findings:

• Aerospace Industry represented 85,500 direct jobs in Southern California in 2014, 14 percent of U.S. industry employment (Over 100,000 jobs when we include JPL, NASA and other public employees in SoCal).

• Southern California aerospace generates 245,770 total jobs, including jobs in its supply chain

• Southern California is becoming a center for guided missiles and space vehicles manufacturing, with related employment up by more than 64 percent since 2004.

• Nearly a quarter of all jobs nationally in guided missile and space vehicles manufacturing are located in Southern California.

• Southern California’s aerospace industry overall maintains a high degree of specialization and concentration with employment location quotient (LQ) of 2.1, and an LQ of 3.5 for guided missiles and space vehicles.

• 41 percent of job openings over the next five years will require a Bachelor’s degree or higher

Southern California’s advantages include:

1. Deep ecosystem of aerospace talent, suppliers, specialized service providers

2. Active defense sector

3. Engineering prowess

4. A culture of technological innovation, risk-taking, and entrepreneurship

5. Highly skilled and specialized workforce

6. Aerospace targeted educational programs and job training

7. World-leading research and development capabilities

“We all know that our region has unmatched talent, a deep ecosystem of aerospace suppliers, specialized service providers, and IP, and now this report provides numbers and data to back that up,” said David Blanco, Co-Chair of the SoCal Aerospace Council, whose mission is to help aerospace thrive, grow and hire.

The report was made possible through the generous funding of Bank of America, California Manufacturing Technology Consulting, Northrop Grumman Corporation, and PricewaterhouseCoopers LLP (PwC).

About the LAEDC

LAEDC-RGBEstablished in 1981, the Los Angeles County Economic Development Corporation (LAEDC) provides strategic economic development leadership to promote a globally competitive, prosperous and growing L.A. County economy to improve the health and wellbeing of our residents and communities and enable those residents to meet their basic human need for a job. We achieve this through objective economic research and analysis, strategic assistance to government and business, and targeted public policy. Our efforts are guided and supported by the expertise and counsel of our business, government and education members and partners.

Since 1996, the LAEDC’s Business Assistance team has directly helped to retain or attract over 200,000 annual jobs in Los Angeles County. The LAEDC is a public-benefit, private, nonprofit organization established under section 501(c) (3).

www.LAEDC.org

About San Diego Regional EDC

SD EDCSan Diego Regional Economic Development Corporation’s (EDC’s) mission is to maximize the region’s economic prosperity and global competitiveness. As an independently funded non-profit fueled by more than 160 companies and organizations, EDC works to attract, retain and expand companies and the talent pool across the region’s three traded economies: military, tourism and innovation.

 

www.sandiegobusiness.org

Media Contacts

LAEDC:

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

Toni Caserta / 213-236-4862 / [email protected]

San Diego Regional EDC:

Sarah Lubeck / 619-615-2952 / [email protected]

Jesse Gipe / 818-302-5210 / [email protected]