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The Once-Forgotten Los Angeles River Is Increasingly a Destination For SPECIAL ADVERTISING SECTION SPECIAL ADVERTISING SECTION Angeles The once-forgotten Los Angeles River is increasingly a destination for recreation. An appealing residential infrastructure is emerging downtown. The county rivals os Silicon Valley in number of high-tech jobs. It’s not just the temperature that’s l hot in Los Angeles: Business is booming in the City of Angels. Credit here here Credit SPECIAL ADVERTISING SECTION Angeles os l A BOOMING TECH SECTOR, A DOWNTOWN RENAISSANCE, A MAYOR COMMITTED TO EXPANSION. L.A.’S THE PlaCE TO BE. Los Angeles Is Hot for Business and now thriving arts district— creative-industry employees live in converted warehouses and lofts; the area is poised to further down- town’s recent renaissance as a lively and prosperous community dotted with arts venues, restau- rants, and bars. Large residential structures are going up; the once- grand Broadway shopping district is about to be transformed by one of downtown’s largest projects in the past two decades; the Broad will open on Bunker Hill in September; and two months later, Whole Foods is slated to make its debut. GQ last year called downtown L.A. “America’s next great city.” The dynamism in DTLA—as it’s known by those who live there A conceptual and tweet about it—is emblematic rendering of public n the eastern edge of down- of the exuberance extending throughout the L.A. space in L.A.’s town Los Angeles, on land not long metropolitan area, the country’s second largest. Cleantech Incubator (LACI), which will be ago blighted by abandoned indus- “There’s a renewed sense of energy, optimism, part of the Cleantech trial buildings, sits the La Kretz Inno- and vitality,” says Kimberly Ritter-Martinez, an la Corridor along the Los K vation Campus. A few months from economist at the nonprofit Los Angeles County ret Angeles River. completion, the $43 million facility Economic Development Corporation (LAEDC). Z innovation will symbolize a new Los Angeles: It “People are excited. You can feel it, talking to O will house LACI (L.A.’s Cleantech Incubator) and local businesspeople, reading the newspaper. You anchor the Cleantech Corridor, a four-mile strip of even see it in the street, with cranes up again and CA M P land along the Los Angeles River appropriated for people carrying shopping bags.” U S / the city’s new green economy. The Guardian last year conducted its first global laci In the corridor—part of the once-desolate brand survey of 57 major cities, assessing assets S2 BORN AND RAISED IN LA. NOW SERVICING WORLDWIDE. Our LA roots are deeply forged. We started here in 1939 and helped build the city – literally – growing up right alongside it. Today, Reliance is the largest metals service center company in North America, with locations in 39 states and 12 countries. We’re proud to be leading our industry from a place we’ve called home for 75 years…and counting. ©2015 Reliance Steel & Aluminum Co. All rights reserved Aluminum Co. ©2015 Reliance Steel & www.rsac.com SPECIAL ADVERTISING SECTION Angeles os l like attractions, climate, safety, infrastructure— particularly transport—and economic prosperity, then calculating their buzz based on mentions Los Angeles is in traditional and social media. Los Angeles beat experiencing out New York, London, and Paris to take the title of Most Powerful Brand City in the World. a renaissance The Guardian got it right: There is an undeni- ‘‘that I haven’t able cachet to L.A., and the climate is pretty great, with high temperatures averaging 75 felt since I degrees. As the entertainment capital of the was a kid.” world, the city serves up a buffet of varied cultural offerings. The city’s transportation infrastructure and geographic location have made L.A. an international trade center and offer keen advantages to local companies doing global business. The Los Angeles­­–Long Beach port complex is the largest in the Western Hemisphere, handling over 40% of container first year in office, cited a few of his successes, goods going in and out of the country, while including more than 26,000 new businesses LAX (less commonly known as Los Angeles established and a 3.1% decline in the unem- International Airport) is the world’s sixth-busi- ployment rate. “The proof is in the pudding,” est airport and the top gateway for goods and he said. Eric Garcetti travelers to and from the Asia-Pacific region. Garcetti, 44, came into office pledging to get Mayor of Los Angeles back to basics—improving quality of life, stimu- BUSINESSES AND JOBS lating job growth, and making it easier to do After a tough recession, the City of Angels has business in the city. He’s delivering: Last month Passenger planes populating Los risen again, according to LAEDC’s 2015–16 fore- he won the city council’s approval of a cut in the Angeles International cast: GDP has been increasing steadily in L.A. city’s gross receipts business tax that he—and Airport (above). County; more than 78,000 jobs were added last the business community—had long sought. The AECOM’s design and year across a broad swath of industry sectors, day he signed it into law, another big piece of construction projects have helped develop and 63,000 new jobs are projected for 2015. his economic agenda moved forward when the the Port of Los On Southern California Public Radio last influential Los Angeles Business Council en- Angeles (below). July, L.A. Mayor Eric Garcetti, reflecting on his dorsed his plan to raise L.A.’s minimum wage. In November, Garcetti targeted the cumbersome process of dealing with multiple city agencies to secure building permits, imple- menting a program that Elescite ctotatur will consolidate func- minimustibus T acipistotam aut que tions and is expected op : volestias et am, sit to reduce construction Mi K omnihil iaturiant E times by three to six Kelle harciae ceptatia months for at least 600 volorectiunt voluptatur? Y; B buildings each year. He otto has helped secure film M: AEC tax credits and incen- O tives to encourage movie M B and television produc- Y david tions to stay local, and last fall he led a trade LLO Y delegation to Asia, a key D S4 Where there’s talent, there’s Korn Ferry. And Los Angeles is where it all began. Since our founding in 1969, Korn Ferry has called Los Angeles home. The diversity and pioneering spirit of the City of Angels are deeply ingrained in our core values, inspiring organizations around the world to trust us with their most critical talent and leadership challenges. Find out more: kornferry.com SPECIAL ADVERTISING SECTION Angeles os l source of L.A.’s sizable foreign investment. “What distinguishes us is our ability to connect After several years of debt woes, the mayor the dots across a company’s entire talent con- has even stabilized the city’s finances, not only tinuum, helping organizations design, build, and We were an balancing the budget but also establishing the attract their talent.” largest reserves in a decade, prompting a rat- As Von Der Ahe notes, Los Angeles has a important ings upgrade from Moody’s Investors Service remarkably diverse economy, with established part of the in December, three months after Standard & industries including spanning consumer, ‘‘ Poor’s issued a “positive outlook” for the city. aerospace and defense, finance, health care, industrial “Los Angeles is a true melting pot and incu- biosciences, education, fashion, tourism and growth of bator of ideas, innovation, and entrepreneurial hospitality, design, media, entertainment—of spirit,” says Chris Von Der Ahe, senior client course—and manufacturing. Los Angeles. partner and Southern California managing “People think of L.A. mostly as movies and director at Korn Ferry, the world’s largest execu- studios. It’s not seen as a manufacturing area,” We’re loyal tive search firm and a top talent management says David Hannah, CEO and chairman of Reli- to Los consultancy. “The area’s business diversity is ance Steel & Aluminum Co. In fact, L.A. County also unique, spanning an array of industries is the nation’s largest manufacturing center. Angeles.” ranging from financial services and health care Reliance opened in 1939, ahead of the World David Hannah, to consumer goods, entertainment, technology, War II industrial boom, and continued building its CEO and Chairman, manufacturing, education, and more.” success in supplying metals to small businesses Reliance Steel & The company, which has been based in L.A. and job shops. “We were an important part of the Aluminum Co. for 46 years and generates $1 billion in annual industrial growth of Los Angeles,” says Hannah. revenue, has itself been diversifying. While The company grew, too, expanding to more than A Reliance employee 58% of Korn Ferry’s business is still executive 300 locations worldwide and over $10 billion in removes excess scrap search, it now offers leadership development, revenue. Reliance became an early pioneer of the from a beam to be used in commercial training, and, through its Futurestep subsidiary, downtown renaissance when its headquarters fabrication or marine recruitment outsourcing. Says Von Der Ahe: relocated there from the industrial neighborhood construction. of Vernon in 2001. “We’re loyal to Los Angeles,” says Hannah. NEW GROWTH Just as businesses like Reli- ance have grown with L.A., city leaders look to today’s new businesses to further expand its prosperity. In 2012, almost a year before becoming mayor, Garcetti successfully pushed the city council to extend a program through 2015 that exempts new businesses from city business taxes during their first three years of operation.
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