Who We Are
The Los Angeles County Economic Development Corporation, a non-profit organization, champions equitable economic growth across the Los Angeles region.
Through collaboration with community, government, business and education partners to inform and advance our data-driven and evidence-based approach, we endeavor to achieve a reimagined regional economy – growing, equitable, sustainable, and resilient – that provides a healthy and high standard of living for all.
LAEDC staff and our members represent the diversity of Los Angeles County and act as trusted conveners, thought partners, valued service providers, regional stewards, and catalysts for transformational change.
We value equity, inclusion and dignity for all. We believe that diversity is a source of strength, and strive to involve all stakeholders in efforts that shape current and future choices that affect themselves, their families, and their communities. We insist upon a culture of respect, acceptance, and honesty, and recognize that words and actions matter. The absence of action and words also matter. We encourage the civil and respectful expression of ideas and opinions. And we commit to addressing systemic inequities and injustices that serve to deny economic opportunity and social mobility to members of many racial and ethnic groups.
Whether with regard to economic output, productivity, job creation, wages, wealth or tax base, growth is a cornerstone value and foundation of economic development and our intentional path to inclusion and opportunity for all.
We believe that informed, courageous, and selfless leadership makes a difference, and we will endeavor to provide that leadership and encourage it in others.
We believe in investing in people, enterprises, institutions, infrastructure and systems to enhance their ability to effectively withstand, develop responses to, and ultimately capitalize on disruptions that might otherwise threaten their very survival.
We strive for sustainable economic growth for Los Angeles County that leads to long-term economic prosperity for the people of our region while protecting and enhancing our quality of life and natural environment for current and future generations.
Our Path Toward Regional Success
Theory of Economic Development
LAEDC is committed to an intentional regional economic development approach focused on improving economic well-being and quality of life to build a more equitable and inclusive economy.
Our data-driven, research-based approach is used to cultivate key industry ecosystems, retain and grow microenterprises, small and large businesses, attract investment from domestic and international companies, and develop a competitive regional workforce.
We convene and partner with non-profits, government, business, philanthropy, and education to continually advance access to opportunities in our region.
LAEDC is committed to doing work and promoting ideas grounded in evidence and truth. We use data and research to understand the issues. Using data and research, we can gain a strong understanding of our region and track issues year to year. Our research informs us on how to use scarce resources better.
Our research allows us to cultivate key industry ecosystems, benefiting from the organic clustering of business types in the Los Angeles region. Industries such as life science, electric vehicles, ocean economy, and more are moving to Los Angeles because of the innovative spirit of our area businesses. These companies provide good wages and career pathways, entrepreneurship for workers and diverse communities and improve the Los Angeles region’s competitive advantage.
We actively assist all businesses – including microenterprises – to grow and retain jobs here in our region. In Los Angeles County, most businesses in the region employ 20 or fewer employees. These businesses are vital to Los Angeles’s economy because those revenues recirculate locally.
Our Business Assistance Program (BAP) provides resources to businesses that may not know those resources exist. LAEDC also provides support for pandemic resiliency & recovery plans, outsmart disasters, and strategic plan development.
Our internationally focused work brings together communities, leaders, and companies that allow the exchange of economic theories and practices and innovative technologies. This work helps attract, retain, and foster international companies’ growth and creates well-paying jobs in Los Angeles. Our foreign direct investment (FDI) reports demonstrate the impact and importance of international companies to our local jobs and wages in Los Angeles. We champion and promote Los Angeles’s most significant selling points, including our infrastructure, education and forward-looking policies. The work helps our international communities and partners understand and continue investing in the Los Angeles region.
LAEDC is committed to developing a competitive regional workforce because we know that a robust workforce our economic growth as a region should not be separated from each other. We bring industry leaders and educational partners together within the economic development process. We want our education infrastructure to train the next generation of the workforce and ensure they receive relevant training and can join the industry of their choice. We know there needs to be an alignment between industry and our educational systems.
We provide trainings across industry clusters, convene and inform thought leaders, offer comparative analysis for governments, partners and industries, analyze wages and benefits across employers, guide equitable public policy, offer information for direct investment opportunities, and forecast challenges and opportunities.
For us, economic inclusion and economic development occur when we use research to connect communities to the growth sectors of our economy, and we involve communities in the decisions that impact them.
LAEDC embraces a change model for our economy that fosters inclusive growth in our region. Without inclusive growth, communities are often excluded from the economy, creating significant inequities in our region, such as loss of potential earnings, weakened competitiveness, and additional stress and burdens for individuals and families.
At LAEDC, economic development starts when research and data are used to understand and identify opportunities, provide technical assistance for businesses, prepare and champion sustainable growth, and train our workforce so everyone who wants to can participate, compete and thrive within a dynamic economy.
CURRENT ANNUAL REPORT
Thank you for being a valuable partner of the Los Angeles County Economic Development Corporation. Below please find the LAEDC 2021-2022 Annual Report, which highlights the hard work of our dedicated staff in a year still recovering from the devastating disruptions of the COVID-19 pandemic and the associated impacts on global supply chains.
We encourage you to read and learn more about our programs to support communities and businesses to create a more robust, equitable, sustainable and resilient economy in Los Angeles County.
Success Story: BriteWorks, Inc. (Covina, CA)
Success Story: Tete Snacks (Carson, CA)
Success Story: Kids Artistic Sense, Inc. (Los Angeles, CA)
Success Story: Playa Las Tunas (Los Angeles, CA)
Success Story: Baaz Bites (Los Angeles, CA)
Success Story: Project Joy (Antelope Valley, CA)
Success Story: Rice Field Corp/Great River Food
Success Story: Orbit Event Rentals
Success Story: Johnny Rockets (Long Beach, CA)