Los Angeles County Economic Development Corporation https://laedc.org Fri, 03 Apr 2020 23:37:07 +0000 en-US hourly 1 https://wordpress.org/?v=5.3.2 Click here to visit LAEDC’s Coronavirus response page for advice and updates! https://laedc.org/2020/03/05/taking-steps-today-to-reduce-coronavirus-impact-is-essential/ https://laedc.org/2020/03/05/taking-steps-today-to-reduce-coronavirus-impact-is-essential/#respond Thu, 05 Mar 2020 19:20:53 +0000 https://laedc.org/?p=49779 Get tips for businesses and nonprofits, affected workers, updates on SBA emergency loans, and get help from LAEDC.

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Get tips for businesses and nonprofits, affected workers, updates on SBA emergency loans, and get help from LAEDC.

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California Competes Tax Credit – Applications March 9-30th & Informational Webinar https://laedc.org/2020/03/03/california-competes/ https://laedc.org/2020/03/03/california-competes/#respond Tue, 03 Mar 2020 22:52:59 +0000 https://laedc.org/?p=49760 Businesses in California that plan to expand and hire in CA may apply for tax credits. There will be a webinar “workshop” to walk businesses through the steps. You can...

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Businesses in California that plan to expand and hire in CA may apply for tax credits.

There will be a webinar “workshop” to walk businesses through the steps.

You can register for the workshops here: https://business.ca.gov/california-competes-tax-credit/

The webinars will occur on March 11, 19, and 24.

On March 9, the Governor’s Office of Business and Economic Development (GO-Biz) will be accepting applications for the California Competes Tax Credit (CCTC).  There are over $70 million in tax credits available during this application period for businesses that are expanding and adding full-time jobs in the state. The deadline to submit applications is Monday, March 30, at 11:59 p.m. (Pacific Time) and the online application website will automatically close one this deadline has passed.  The online application can be accessed at www.calcompetes.ca.gov.

Members of the CCTC team are available to provide technical application assistance. In addition, an updated application guide, Frequently Asked Questions (FAQs), and program regulations are available at www.business.ca.gov/CalCompetes.aspxFor applicants that are reapplying, the FAQs include instructions on how to copy information from a previously submitted application.

Businesses interested in learning more about the CCTC can participate in free application webinars.  Click here for the schedule and registration information.  

If you have any questions regarding the CCTC program or application process, please call (916) 322-4051 or email CalCompetes@gobiz.ca.gov.

About the California Governor’s Office of Business and Economic Development (GO-Biz)

The Governor’s Office of Business and Economic Development (GO-Biz) serves as the State of California’s leader for job growth and economic development efforts. GO-Biz offers a range of services to business owners including: attraction, retention, and expansion services, site selection, permit streamlining, regulatory guidance, small business assistance, international trade development, assistance with state government, and much more for more information visit: www.business.ca.gov.

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LAEDC report: California and SoCal EV Industry is growing, giving region global competitive advantage https://laedc.org/2020/03/01/laedc-ev-industry-report/ https://laedc.org/2020/03/01/laedc-ev-industry-report/#respond Mon, 02 Mar 2020 05:00:57 +0000 https://laedc.org/?p=49647 Southern California EV industry grows to 120,000 direct jobs; 276,000 in California, according to LAEDC report

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Southern California EV industry grows to 120,000 direct jobs; 276,000 in California, according to LAEDC report:

EV report cover imageVibrant industry ecosystem and global competitive advantage define California’s EV Industry, as industry locus shifts west.

The Electric Vehicle (EV) industry growth in California has positioned the state as a globally leading researcher, designer, manufacturer and exporter of transportation-related products, services and technologies, creating 275,600 direct EV industry jobs statewide and shifting the EV industry’s U.S. footprint from Michigan to California.

DOWNLOAD AND READ THE REPORT (Best version for desktop screens)

View single page version for printing or mobile devices

PRESS: Contact Lawren Markle at LAEDC to access
our media asset page with videos, photos, resources

Moreover, the state’s residents are supporting this “hometown” industry with accelerating purchases of EVs, with potential to meet California’s lofty target of 5 million EVs on the road by 2030, according to the report by the Los Angeles County Economic Development Corp (LAEDC), titled, “Energizing an Ecosystem: The Electric Mobility Revolution in Southern California.”

(Above) LAEDC’s Tyler Laferriere EV report briefing at the Capital in Sacramento

(Above) Electric bus manufacturing in Los Angeles County at BYD Motors

(Above) LAEDC’s Tyler Laferriere briefs VELOZ attendees on the EV report in Sacramento

The report explores the size of the market, a landscape analysis of the industry, its workforce, key assets and drivers of the EV industry in the Southern California region and the state of California as a whole.

The report found that:

  • In California, the average increase of new registrations of Zero Emissions Vehicles (ZEVs) between 2007 and 2018 was 82 percent. Further analysis suggests that with the proper conditions, adoption can reach Southern California Edison’s goal of 7.5 million EVs on the road by 2030, well above California’s goal of 5 million EVs by 2030.
  • In the five-county region of Southern California, 119,200 workers are employed in the EV industry, or 43.4 percent of all statewide jobs (275,600) in the EV industry.
  • In California, the EV industry pays an average annual wage of $91,300, well above the average annual wage across all industries of $68,500.
  • In Southern California, jobs in the EV industry pay well — an average annual wage of $80,900, well above the average annual wage across all industries of $60,400.
  • Southern California has a significant cluster of EV companies including software, design studios, and full production sites that include passenger, shared mobility, truck, drayage and passenger bus vehicles.
  • EV industry “clustering” is also supporting geographically concentrated growth in jobs, innovation and commerce, as suppliers and related businesses locate nearby. For example, workers are employed in activities related to charging networks and installation of related infrastructure.

“There’s no other ecosystem like this in the US, and we need to protect, support and build good policy to ensure this ecosystem thrives and continues to create great jobs,” said Judy Kruger, Senior Director of Advanced Transportation at the LAEDC.

“Clean energy investments, including electrifying transportation, mean thousands of stable, good-paying jobs across the value chain—from skilled and craft to high-tech and innovation positions—for Southern Californians,” said Michael Backstrom, managing director of Energy and Environmental Policy for Southern California Edison, one of the five organizations that funded the study.

Read related SCE story, Boom in Electric Transportation Means Jobs for SoCal

“Our goal at Metro is to transform Los Angeles County into a world-renowned transportation center of excellence. Two important pillars of that objective are innovation and sustainability. EVs are on the cutting edge of both,” said Phillip A. Washington, CEO, Los Angeles County Metropolitan Transportation Authority. “That’s why Metro is proud to sponsor this report and to continue exploring innovations that improve opportunity and the environment for the people of Southern California.”

The LAEDC report also highlights the growing economic, environmental and equity importance of the Southern California region’s EV Industry, which is directly addressing the global climate change crisis, reducing emissions that disproportionately affect local economically disadvantaged communities, creating well-paying jobs accessible to a diverse workforce, creating exportable products and technologies that bring revenue into California, and setting the stage for California and Southern California to lead an industry poised for massive growth today and for many years to come.

The report offers recommendations to enable increased adoption of EVs and support the state’s industry so that it continues to grow and create jobs.

The report was made possible through sponsorship by Southern California Edison (SCE), City of Los Angeles Department of Water and Power (LADWP), the Los Angeles County Metropolitan Transportation Authority (LA Metro), Southern California Association of Governments (SCAG), and South Coast Air Quality Management District (SCAQMD).

More details on the industry landscape, specific occupations, forecasts and analysis are available in the report.

About LAEDC   www.laedc.org

Los Angeles County Economic Development Corporation (LAEDC) works collaboratively to advance opportunity and prosperity for all in the Greater Los Angeles region. This is achieved via economic development leadership, objective economic research and analysis, strategic assistance to business, education and government partners, and targeted public policy. LAEDC was established in 1981 as a private, non-profit, public benefit corporation.  LAEDC hosts the e4 Mobility Alliance which serves as the industry council for the region’s EV and advanced transportation businesses, as well as hosting the California SmartMatch program which helps align local supply chain partners with industry manufacturers.

MEDIA ANALYSIS:

The electric-vehicle industry is thriving in Southern California, report says

The Los Angeles Times  (widely syndicated in other newspapers)

LA’s Electric Vehicle Talent Pool Is Driving Industry Changes | Los Angeles Business Journal

Demand for skilled workers in Southern California’s electric vehicle industry is growing and driving up salaries. Read more in about L.A.’s EV talent pool in this report.
Los Angeles Business Journal

L.A. Poised for Jobs Jump as Electric Vehicle Industry Surges Across State

Dot.LA

Boom in Electric Transportation Means Jobs for Southern California

Fleet News Daily

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Ocean Economy report released by LAEDC and Altasea https://laedc.org/2020/02/27/ocean-economy-report/ https://laedc.org/2020/02/27/ocean-economy-report/#respond Fri, 28 Feb 2020 05:00:32 +0000 https://laedc.org/?p=49615 LA’s “Blue Economy” Represents a Major Jobs, Wage and Tax Revenue Driver Rarely Tracked, LAEDC Says: “Blue Industry Jobs Projected to Grow to 126,000 by 2023” Download and read the...

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LA’s “Blue Economy” Represents a Major Jobs, Wage and Tax Revenue Driver

Rarely Tracked, LAEDC Says: “Blue Industry Jobs Projected to Grow to 126,000 by 2023”

Download and read the report

Media Coverage:

The Daily Breeze: California’s ‘ocean economy’ is strong, but faces threats from climate change
L.A. Biz: Los Angeles dives into ‘ocean economy’ with new jobs category
LAist: Beyond Silicon Beach – How LA County is banking on the ocean for new jobs
The Argonaut:  A Wave of Opportunity
NBC 4 TV News coverage
Spectrum News One TV coverage
KPCC NPR Radio 89.3 FM coverage
KNX Newsradio 1070 coverage
KFI Radio News coverage

LOS ANGELES, CA (Feb 28, 2019) – Today in LA County, 117,000 workers are directly employed in the region’s “Blue” or “Ocean” economy, with an additional 82,500 jobs sustained by the industry, according to a report: The Ocean Economy in Los Angeles County, which was sponsored by LA County Supervisor Janice Hahn’s office and released by the Los Angeles County Economic Development Corporation (LAEDC) and prepared in collaboration with AltaSea at the Port of Los Angeles. Based on the industry’s significant regional economic contribution, the LAEDC took the rare step, upon the report’s release, to add the “Ocean Economy” as a Southern California-based industry cluster that it will formally monitor, benchmark and track going forward; much like the LAEDC does for the region’s more well-known industries such as aerospace and digital media entertainment.

The report, which was co-authored by AltaSea at the Port of LA, also found that:

  • California’s Ocean Economy supports 1.035 million jobs (direct, indirect and induced), or roughly seven percent (7%) of the state’s total workforce, and over $53 billion in total labor income. (2018)
  • LA County’s Ocean Economy supports 200,400 total jobs (direct, indirect and induced), produced over $34 billion in regional output, added $20 billion to the gross county product, yielded over $12 billion in labor income, and generated $1.7 billion in local taxes. (2018)
  • The marine transportation and tourism sectors, which employ 52,070 and 57,270 workers, respectively, in LA County, are the industry’s largest local employment contributors. (2018)
  • LA County’s Ocean Economy is forecasted to grow significantly, directly employing 126,000 workers by 2023 and generating $80.1 billion in regional output, $49.8 billion in additional gross county product and $69.2 billion in personal income over the five-year period between 2019 and 2023.
  • Globally, the Ocean Economy is projected by the OECD to double to $3 trillion over the next decade.
Watch the press conference hosted by
LA County Supervisor Janice Hahn, whose office sponsored the research

The LAEDC report also highlights the growing economic, environmental and equity importance of the LA region’s emerging marine-based biotechnology, conservation, renewable and high-tech sectors, which the LAEDC projects will be significant drivers of future job, venture capital and wage growth over the five-year study period. By levering the LA region’s existing applied research concentrations and pronounced productive advantages over other economic regions and nations, the report concludes that LA is “well-positioned” to become a world leader in the development of marine-based solutions to address global climate change, health and water conservation challenges.

“The newly-designated ‘Ocean Economy’ is a strong and growing sector of our economy in LA County,” said LA County Supervisor Janice Hahn. “Over the next decade we’re going to see more jobs at our ports, in aquaculture, in ocean exploration, and in ocean technology we haven’t even thought of yet.”

The report also makes some policy and program recommendations for further building on the region’s organic strengths in this industry. Key suggestions include: invest in industry-driven workforce training programs that can respond in real-time to the fast-changing labor market needs of this industry; advocate for economic and workforce development incentives and programs that support emerging ocean industries; ease regulatory barriers for sustainable aquaculture; promote marine-based renewable energy solutions; and implement local waterfront revitalization and preservation programs that achieve the co-equal goals of to combat sea level rise and to promote sustainable economic development.

“Owing to its location in one of the largest coastal cities in the world, AltaSea will advance the scientific community’s understanding of the ocean and its interaction with people and businesses in a unique way,” said Tim McOsker, CEO of AltaSea. “Our Board of Trustees, donors, staff and the great San Pedro community have embraced our transformative vision for LA’s waterfront. Together, we are going to tackle the burgeoning challenges of the Blue Economy.”

The report also provides case studies with best management practices showcasing how other regions are advancing their “Blue” industries; covered regions include: Bangladesh, Indonesia, Massachusetts, San Diego and Washington State.

About LAEDC   https://laedc.org

Los Angeles County Economic Development Corporation (LAEDC) works collaboratively to advance opportunity and prosperity for all in the Greater Los Angeles region. This is achieved via economic development leadership, objective economic research and analysis, strategic assistance to business, education and government partners, and targeted public policy. LAEDC was established in 1981 as a private, non-profit, public benefit corporation.

Media contact: Lawren.Markle@laedc.org

 

About AltaSea at the Port of Los Angeles    https://altasea.org

AltaSea at the Port of Los Angeles is creating a world-class ocean-based campus where science, business and education come together to generate innovative solutions to the most critical global sustainability issues today: food, energy, and climate security. AltaSea accelerates scientific collaboration, facilitates job creation, and inspires the next generation for a more sustainable ocean. Built on a historic pier with access to the deep ocean, AltaSea’s campus brings people together to expand science-based understanding of the ocean; incubate and sustain ocean-related business; and pioneer new ocean-related education programs.

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Recap: 5G and Mobility industry discussion at e4 Mobility Alliance https://laedc.org/2020/02/27/recap-5g-mobility-e4/ https://laedc.org/2020/02/27/recap-5g-mobility-e4/#respond Thu, 27 Feb 2020 22:56:38 +0000 https://laedc.org/?p=49626 Industry leaders, key stakeholders and local educators joined an insightful conversation around the next generation of wireless connectivity and transportation in Los Angeles, on February 13, at LAEDC’s e4 Mobility Alliance meeting.

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5G and Mobility: Speeding up the Future:  

Industry leaders, key stakeholders and local educators joined an insightful conversation around the next generation of wireless connectivity and transportation in Los Angeles, on February 13, at LAEDC’s e4 Mobility Alliance meeting.

Hosted by the Center for a Competitive Workforce (CCW), the meeting included a keynote with Henry Greenidge of Cruise Automation followed by a panel of industry experts addressing how the latest technologies will impact both the industry and community—and how the workforce is adapting.  

These critical conversations with industry seed partnerships and academic responsiveness to the dynamic economy of the present and future. Richard VerchesCCW Executive Director set the stage, representing the 19 regional LA Basin community colleges with students in search of careers in this competitive and evolving landscape.  

LAEDC’s Judy Kruger and Cruise’s Henry Greenidge

Keynote speaker Henry Greenidge, an attorney and policy advisor, currently leads Public Affairs for Cruise, a General Motors majority-owned company focused on developing self-driving technology to launch a driverless ride share service. With experience at the Federal Communications Commission, the U.S. Department of Transportation, and the White House Office of Management and Budget, he believes the core of this new technology will provide an incredibly significant social impact. Disruptive as autonomous vehicles will be in a well-established market, Cruise aims to improve lives through increasing safety, giving billions of hours back to people, serving the planet, and restoring movement to people left behind by the current transportation system.  

A testament to Los Angeles’ ecosystem of innovation, i2017, Cruise acquired Strobe, a Pasadena-based LiDAR company with instrumental sensing technologies. The foundational question posed by Verches to start the event: How do we nurture and grow Los Angeles’ unique ecosystem through partnerships, policy, workforce development and networking?  

Following the keynote, Greenidge was joined by David DeRosa of AECOM and Chuck Dankocsik of Siemens on a panel moderated by e4 Mobility Alliance chair Shaun Arora of MiLA CapitalTo begin, Arora inquired as to what 5G will mean to the County of Los Angeles 

These new technologies present opportunities, challenges and unknowns to take into consideration. Benefits include more responsive and dynamic connectivity, including improved performance of navigation apps, in addition to curbside management and the possibility of moving from static street signage and curb paint, to digital real-time communication. DeRosa notes however, that accessibility of smart phones must be considered as currently about 25% of the County’s population does not utilize app technology. 

the LIDAR unit invented by Pasadena-based Strobe, acquired by Cruise Automation

the LIDAR unit invented by Pasadena-based Strobe, acquired by Cruise

On the topic, Greenidge also highlighted the potential opportunities for governments to partner with private companies in researching, developing and taking advantage of these new technologies. An increase in access to data could be utilized to address a myriad of issues, but of course, many cities are grappling with how the data will be managed.  Fortunately, LADOT is leading by example with an open data philosophy and works with nav apps developers, among other partners. 

The panel’s consensus around workforce and job opportunities pointed to a considerable need for software and hardware engineers, as well as technicians to install and maintain transmitters that will integrate with the grid and existing environmentAECOM is currently assessing their workforce needs but indicated a need for civil engineers will remain, however software skills’ importance will continue to increase. They’ve also identified data science as a much-needed specialty including analysis and management of large infrastructure data sets.  

Undoubtedly, diversity in the workforce fuels creativity and innovation. Jessica Ku Kim, Sr. Director of Workforce Development at LAEDC, started a robust dialogue around the need to cultivate a more diverse and inclusive talent pipeline in this field. All three companies recognized the imperative need for partnerships and collaboration to do so. Greenidge showcased Cruise’s considerable investment in this area with multiple strategic partnerships including with: 

  • Humanmade to teach high school students about manufacturing and engineering 
  • Code 2040 to provide internship opportunities for students of color 
  • Nextplay to recruit diverse talent  

The consensus expressed was that it’s not a question of whether the talent is there—it’s a matter of finding it outside of traditional spheres and creating programs that cultivate it 

Thank you to all who attended and participated, including our exceptional panelists. 

 

These discussions and partnerships are key to the mission of this alliance: to promote and further develop Southern California as the leader in advanced transportation and a range of e-mobility solutionsThrough this work, job creation is fostered, creating economic opportunity in our local community.  

LAEDC is releasing its upcoming report, Electric Mobility Revolution in Southern California reporton March 2nd.  Check back for that exciting regional study. 

For more information on how to get involved with LAEDC’s e4 Mobility Alliance, contact Ms. Jacqueline Johnson at jacqueline.johnson@laedc.org  

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This post was authored by Claire Anderson, LAEDC

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LAEDC Annual Economic Forecast is published https://laedc.org/2020/02/19/2020-economic-forecast/ https://laedc.org/2020/02/19/2020-economic-forecast/#respond Wed, 19 Feb 2020 15:00:53 +0000 https://laedc.org/?p=49486 LAEDC has published its 2020 Economic Forecast, which was presented February 19th, 2020. The report, while generally optimistic about continued modest growth and employment gains, also explored major challenges in our regional economy; the biggest issue being that not enough people are sharing in economic success in the region.

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LAEDC has published its 2020 Economic Forecast, which was presented February 19th, 2020.  The report, while generally optimistic about continued modest growth and employment gains, also explored major challenges in our regional economy; the biggest issue being that not enough people are sharing in economic success in the region.

Read the report HERE.

Read a short Key Findings summary HERE

The event theme was Expanding the LA Dream to More Communities and Residents. Headline economic numbers are up, but a deeper look reveals mounting challenges faced by an increasing number of Los Angeles residents.

Speakers included: Noor Menal, President and CEO of CTBC Bank; Chris Slevin, VP of Economic Innovation Group; Alexander Casey, Senior Policy Advisor at Zillow; Shannon Sedgwick, LAEDC’s Director of the Institute for Applied Economics; Bill Allen, CEO of LAEDC; Stephen Cheung, EVP of LAEDC; and moderated by Frank Mottek, radio host at KNX 1070 Newsradio.

View slides from the event:

Media Analysis:

Slower Economic Growth seen for California, L.A.
The Los Angeles Times

Housing costs, migration expected to crimp Southern California’s economy
San Gabriel Valley Tribune (and 11 sister newspapers in SoCal News Group)

Forecast Sees Modest Growth in County’s Economy
Los Angeles Business Journal

L.A. & California Economy Strong, But Might Take Small Hit from Coronavirus
Apparel News

Tech Salaries Hit $125K Average as L.A. County Works Toward ‘Inclusive Economic Growth’
Dot LA

California’s economy is slowing due to US-China trade war, housing: Report
China Daily

KNX Radio coverage of LAEDC Economic Forecast:  Mottek on Money radio show
KNX Newsradio 1070

Thanks to all LAEDC’s sponsors who made the Economic Forecast event possible!
CTBC Bank – Citi – USC – Rio Hondo College – LADWP – Pasadena City College – US Bank

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LAEDC EVP Stephen Cheung recognized by Supervisor Hilda Solis https://laedc.org/2020/02/06/stephen-cheung-hilda-solis/ https://laedc.org/2020/02/06/stephen-cheung-hilda-solis/#respond Thu, 06 Feb 2020 21:30:15 +0000 https://laedc.org/?p=49393 Stephen Cheung was recognized by LA County Supervisor Hilda Solis in February, for his continuing and dedicated service to the community.  She remarked that Stephen has been instrumental in economic...

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Stephen Cheung was recognized by LA County Supervisor Hilda Solis in February, for his continuing and dedicated service to the community.  She remarked that Stephen has been instrumental in economic development progress for the county, attracting international businesses and jobs, thus enhancing employment opportunities for the countywide region.  This describes LAEDC’s mission well — our work is about people and the opportunity they have to live a good life.

In the picture below, Stephen and Hilda Solis are joined by World Trade Center-LA (WTCLA) board members Alice Gao, the Senior VP and Head of Commercial Banking for ICBC and Steve Bash, the Senior VP and Manager of International Banking and Trade Finance Division at City National Bank, along with Mike Smith, Director of International Trade at WTCLA.

Stephen continues to take on a greater role at LAEDC, now serving as Executive Vice President, in addition to his role as President of WTCLA.  Meet him at LAEDC’s Economic Forecast on February 19th.

 

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Video: LA is at the center of renewable energy innovation – Bill Gross at VERDEXCHANGE https://laedc.org/2020/02/06/renewable-energy-bill-gross/ https://laedc.org/2020/02/06/renewable-energy-bill-gross/#respond Thu, 06 Feb 2020 19:05:59 +0000 https://laedc.org/?p=49405 Idealab founder Bill Gross presented amazing breakthroughs in renewable energy and carbon sequestration at VERDEXCHANGE.  View the video here. In this speech at VERDEXCHANGE, Bill Gross highlights new companies Energy...

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Idealab founder Bill Gross presented amazing breakthroughs in renewable energy and carbon sequestration at VERDEXCHANGE.  View the video here.

In this speech at VERDEXCHANGE, Bill Gross highlights new companies Energy Vault, Heliogen, and other technologies coming out of Idealab in Pasadena, one of LA’s top incubators of renewable energy concepts, giving LA global competitive advantage in a market that is growing exponentially.  Gross also describes the lessons he’s learned about the economics of solutions and Moore’s Law, iteration of ideas, and timing, essential to progress.

California is poised to create more technologies, services and IP to address climate change, which also creates jobs here in the Los Angeles region.  But these efforts — and the region’s renewable energy ecosystem of R&D, companies and talent — need support at all levels including public policy and investment, to ensure that this emerging sector of our regional economy grows rapidly, in the face of competition from many centers of innovation around the world.  To create the jobs, we need to maintain a competitive advantage.  And through this work, we will make meaningful progress in the fight against climate change.

Thanks to David Abel at VERDEXCHANGE for hosting the event for the 13th year, and partnering with LAEDC to advance the commercialization and adoption of sustainable technologies that address our planet’s most critical challenges.

 

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LAEDC’s Bill Allen and USC President Carol L. Folt at VerdeXchange https://laedc.org/2020/01/29/allen-folt/ https://laedc.org/2020/01/29/allen-folt/#respond Thu, 30 Jan 2020 00:41:37 +0000 https://laedc.org/?p=49326 Bill Allen sat with Dr. Folt to discuss her vision for making sustainability a core mission at USC, at this year’s VerdeXchange.  Read more on USC’s website HERE VerdeXchange brought...

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USC President Carol L. Folt is interviewed by Bill Allen, CEO of Executive Officer of the Los Angeles County Economic Development Corporation on sustainability during VerdeXchange conference in Los Angeles, Jan 27, 2020. (USC Photo/Gus Ruelas)

Bill Allen sat with Dr. Folt to discuss her vision for making sustainability a core mission at USC, at this year’s VerdeXchange.  Read more on USC’s website HERE

VerdeXchange brought together leaders to focus on sustainability-related markets and business opportunity, and LAEDC was proud to again partner with conference organizer David Abel, to make this the most successful VerdeXchange to date.

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LAEDC takes EV data to Sacramento to inform legislator decisions https://laedc.org/2020/01/26/sacramento-2/ https://laedc.org/2020/01/26/sacramento-2/#respond Sun, 26 Jan 2020 23:34:48 +0000 https://laedc.org/?p=49309 LAEDC’s Judy Kruger and Collette Hanna traveled to Sacramento to provide testimony and analysis on key economic public policy issues, focused on EVs and Opportunity Zones. Judy provided legislators with...

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LAEDC’s Judy Kruger and Collette Hanna traveled to Sacramento to provide testimony and analysis on key economic public policy issues, focused on EVs and Opportunity Zones.

Judy provided legislators with early access to data from LAEDC’s upcoming report on the Electric Vehicle industry in Southern California and across the state.  The report reveals a strong industry cluster in the state creating hundreds of thousands of jobs, and provides public policy options to help that industry thrive and increase the rate of EV adoption, which is one of California’s most direct paths to reducing GHG emissions.

As part of this, Judy provided testimony at the CARB board meeting regarding ZEV Programs and Policies per SB 498, stating LAEDC’s support for all the policies and programs that CARB will be executing under SB498, and asked that CARB additionally partner with the LAEDC under CARBS ZEV programs to:

  • Partner and fund California SmartMatch – B2B matchmaking programs (including minority, disadvantaged, women-owned, veteran, and HUB zoned businesses with OEMS)
  • Partner and fund a State of California on-line directory of small businesses to support the production demands and tariff mitigation needed for the ZEV companies
  • Partner and fund an education and minority small business certification program for compliance with FTA requirements for electric buses
  • Partner and fund a marketing program to grow the cluster and promote “Buy California Made EVs”

She also met with staff of numerous legislators on related issues.

Collette Hanna focused her meetings on the topic of Opportunity Zones, and recommended that the state conform California tax treatment with federal tax treatment, under California’s version of the Opportunity Zone program, only for investments into businesses that are situated / sited in a qualified opportunity zone.  This investment incentive can make a significant positive impact in economically disadvantaged communities, and state tax conformance is highly recommended.

To participate in these conversations, you can reach Collette at collette.hanna@laedc.org and Judy Kruger at judy.kruger@laedc.org

LAEDC also encourages you to contact your California representatives to ask them to support these issues.

The post LAEDC takes EV data to Sacramento to inform legislator decisions appeared first on Los Angeles County Economic Development Corporation.

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