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LA LEADS IN

Economic & Community Development

Los Angeles has the second largest economy in the nation.  As the “creative capital” of the world, LA offers exceptional services to its residents and unforgettable experiences to visitors. You can find it all— incredible entertainment, iconic sites and exclusive events, a range of cutting-edge restaurants and the latest trends in trade. In 2017, 50 million visitors spent over 20 billion in the city making tourism a major contributor to the local economy.

Infrastructure

The City is currently working on 28 road, transit and bicycle and pedestrian projects. The Los Angeles Port —the largest port complex in the U.S. and the Los Angeles Airport (LAX) – one of the top ten busiest airports —are both owned by the city and significantly contribute to the success of the economy. The Port has a strong credit rating and brought in over 450 million in revenue, and the airport had an annual economic impact of $60 billion.

Labor Market & Workforce

As the largest manufacturing hub in America, international trade is a major contributor to the economy supporting nearly 300,000 jobs in the city. LA is also headquarters to well-known Fortune 500 companies ranging in industries from— real estate with CBRE Group to supply chain with Reliance Steel & Aluminum. As a city widely known for digital technology, LA is the home office to trailblazers in the tech space including – Fandango and Snapchat.

Sustainability

Los Angeles is very proactive on climate issues and is on track to exceed California’s state-mandated renewable portfolio standard. With ambitious climate targets, the City is expected to source 55% of electricity from renewable energy by 2030.


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