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Business Leader Economic Development for the Regions of Los Angeles County Los Angeles County Economic Development Corporation Spring/Summer 2005

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Business Leader Economic Development for the Regions of Los Angeles County Los Angeles County Economic Development Corporation Spring/Summer 2005 Business Leader Economic Development for the Regions of Los Angeles County www.laedc.org Los Angeles County Economic Development Corporation Spring/Summer 2005 In This Issue: LAEDC REACHES 100,000 JOBS MILESTONE Business Assistance Program Sets a New Standard for Years to Come á President’s Annual Report 2004-2005 A testament to LAEDC’s mission to “attract, retain and grow á Story and photos from businesses and jobs in the re- the 9th Annual Eddy gions of LA County,” LAEDC Awards celebrates its new milestone of having attracted and retained á LAEDC/WTCA 2004 100,532 jobs from 1996 to Asia Mission Report April 2005. Those jobs trans- late to $3.5 billion in annual á Membership News and economic impact from salaries Updates and $65 million in annual tax revenue benefit to Los Angeles á And much more! County. At the May 19 Membership Meeting, Los Angeles County Supervisor Michael Antonovich presented the LAEDC with a special commendation from the County Supervisors for this im- portant achievement. Standing from left to right: Westside Regional Manager (RM) Libby Wil- liams, Former RM Judy Turner, San Fernando Valley RM Alex Rosas, Business Development Coordinator Bob Machuca, Former RM Saul Rodney F. Banks, Chairman of Gomez, Gateway Cities RM Barbara Levine, LAEDC Vice President Busi- the Board of the LAEDC said, ness Development Greg Whitney, Former RM Elaine Cullen, Undersecre- “We are pleased to have tary Business, Transportation & Housing Barry Sedlik, Former RM David reached this milestone in job Myers, Antelope & Santa Clarita Valleys RM Henry Leyva, Metro & South creation and retention. It is LA RM Dwayne Gathers, Business Services Coordinator Sequoia Holi- field, San Gabriel Valley RM Vance Baugham. Front and Center: LAEDC President & CEO Lee Harrington and Former BAP Director, now Sister (Continued on page 2) Mary Margaret Brown. Events of Interest More information on Page 4 JUNE 23 Chairman on the The National Association of Chi- nese American Bankers (NACAB) 18th Anniversary Gala 2005 INFIELD SEPTEMBER 16-25 Baseball great Rod California World Trade Centers Banks threw out the first China Discovery Tour/Trade pitch at Dodger Stadium Mission on April 29, 2005. OCTOBER 24 The 10th Anniversary EDDY Awards Dinner Page 2 LAEDC Business Leader, Spring/Summer 2005 100,000 JOBS ward. By working together, we ters so promptly and effec- PERFORMANCE HIGHLIGHTS (Continued from page 1) will continue to grow jobs and tively.” businesses.” having an important and con- Royal Truck Body in Paramount á 100,532 Jobs Created/ tinuing impact at all levels of The LAEDC Business Develop- faced a possibility of relocating Retained (Jobs Won) from our local economy. As a meas- ment and Assistance Program the business if they could not 1996 to April 2005 ure of its significance, think of provides essential services to secure nearby parking for their á 700 Successful Projects 100,000 jobs as comparable to local businesses such as coor- finished utility trucks. LAEDC á $3.5 Billion- Annual Eco- filling the Los Angeles Coliseum dinating site searches, assisting stepped in to help facilitate an nomic Impact from Sala- or two Dodger stadiums.” with securing incentives, identi- ongoing process of leasing the ries fying traditional and non- land under the power lines from á $65 Million- Annual Tax Greg Whitney, LAEDC Vice Presi- traditional financing opportuni- the Department of Water and Revenue Benefit to County dent, Business Development, ties including industrial devel- Power (DWP) and Southern remarked, “LAEDC’s regional opment bonds. LAEDC also California Edison (SCE). á 60% of Jobs in Manufac- managers and their network of works with workforce training, turing Sector business assistance partners permitting, transportation and “The progress Royal Truck Body á Average Manufacturing have worked diligently over the utility providers. has made with Edison and the Salary $44,000 per Year past nine years to retain and DWP has given us the confi- á 144 Average Jobs per expand our local employers and dence to move ahead with our Project the good jobs they provide.” growth strategy,” Dudley DeZo- á 7 months Average Length nia, President of Royal Truck of Project This year, LAEDC is already Body, said. In addition to the working on 233 active projects, 220 jobs saved, “we are happy reflecting 34,000 potential to announce that we have re- retained, expanded, or new cruited 87 new employees so TYPES OF PROJECT WON jobs. “With the experience and far in FY '06…Thank God for the continuity represented in our Vance Baugham and Ready Pac LAEDC.” Types of Jobs Projects regional managers and part- Plant Manager Santiago Pacheco. Project Won ners, the goal is to reach the next 100,000 job milestone in “I assure you that all of us at Attraction 13,360 112 five years,” said Whitney. Ready Pac greatly appreciate the business friendships we Retention 57,547 287 “We wouldn’t be able to provide have discovered in the LAEDC Expansion 19,830 221 such a successful business and the SGVEP [San Gabriel Valley Economic Partnership],” assistance program without our Relocation 9795 84 relationships with the regional said Ready Pac Irwindale plant manager Santiago Pacheco. EDCs and other partners,” said Barbara Levine with Royal Truck LAEDC President and CEO Lee Ready Pac, a provider of pre- mier fresh-cut, pre-packaged Body Consultant Dick Hoffman Harrington. He credited this (left) and General Manager Joe PROJECTS WON - BY REGION milestone to effective coopera- salad, fruit and vegetables, Valdivia (right). Projects won Jobs Projects tion with other economic devel- encountered local traffic issues by Regions opment organizations in the and difficulty attaining proper “Having reached this important region, and great working rela- permits in a timely fashion. milestone, our goal is to con- tinue to attract and create new San Gabriel 25,317 162 tionships with government offi- Valley cials and agencies. “It takes a “When you operate a company wealth within our economy,” whose sole mission is to deliver concluded Banks. “Recently in team effort to keep the Los Gateway 23,510 136 Angeles economy moving for- very fresh, healthy food to our landmark report Recaptur- American families every single ing the Dream: A Winning Strat- South Bay 17,819 135 day, there is no room for down- egy for the LA Region, we pro- time. Literally, every minute posed a broad visionary road- San Fer- 15,924 99 counts. Whether we are faced map as to how the greater Los nando Valley with an absent traffic signal or Angeles area, as one of the an extra permit requirement, we world’s most diverse business Westside 4,174 28 must find solutions quickly. Our centers, can maintain its vi- LA Metro 4,091 42 employees and customers brancy and preeminence into count on us,” said Santiago. the next decades. We intend to South LA 3,553 38 continue to provide the action- Lee Harrington and Bob Bush “That’s why we truly appreciate oriented leadership to meet Santa Clarita 3,136 30 (right) accept Special Commenda- the extra effort given to Ready these community challenges Antelope 3,008 34 tion on behalf of the LAEDC from Pac to resolve these two mat- into the future, as we have in LA County Supervisor Michael the past.” Valley Antonovich (center). LAEDC Business Leader, Spring/Summer 2005 Page 3 LAEDC Receives CALED Economic Development Award Business Intelligence/Early Warning Program Recognized for its Excellence The groundbreaking LAEDC pansion projects retaining or In addition to the early warning and will lead to specific recom- Business Intelligence/Early adding over 3,000 jobs, produc- contacts, specific retention and mendations to improve South- Warning program conducted by ing over $103 million in com- expansion needs and issues ern California’s economic cli- LAEDC and the National Center bined annual salaries and an were identified according to mate. for Business and Economic Re- annual tax revenue contribution employer size, location and sec- search (NCBER) earned LAEDC of over $5 million to state, tor. Findings have been used to “We are pleased that this survey the prestigious Award of Excel- county and local government. identify regional policy issues is recognized,” said Lee Harring- lence by the California Associa- ton, President and CEO of tion of Local Economic Develop- LAEDC. “We will continue to ment (CALED) on March 24, work to help businesses in our 2005, at the 25th CALED An- regions grow, not go.” nual Conference in Monterey. Each year, CALED honors The purpose of LAEDC Business achievements in the field of Intelligence/Early Warning Pro- economic development through gram was to survey over 25,000 its statewide Awards For Excel- LA County businesses as an lence program. The program early-warning system to identify brings statewide public and business retention targets, ex- professional recognition to pansion opportunities, and un- From Left to Right: CALED Chairman David Biggs, LAEDC Regional Manager those projects and programs cover key business issues and Henry Leyva, LAEDC President & CEO Lee Harrington, California State Assembly Member Juan Arambula, San Fernando Valley Economic Alliance President developed during the previous growth opportunities for the Bruce Ackerman, San Gabriel Valley Economic Partnership President Bill Carney, year that have made significant future. As a result of this out- Greater Antelope Valley Economic Alliance President Mel Layne, and LAEDC contributions to the field of eco- reach, the LAEDC has positively Regional Manager Vance Baugham. nomic development. affected 30 retention and ex- Southern California at an Economic Crossroads LAEDC Released Its 2005-2006 Economic Forecast & Outlook “Southern California’s economy for a 1.6 percent gain. Riverside Additionally, there are several movement. The region’s is at a crossroads and faces and San Bernardino counties major factors that will influence highway and rail network is some specific challenges that will set the pace in non-farm the course of the California and under extreme duress.
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