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FOCUS ON LOS ANGELES COUNTY Southland Regional Economic Recovery Conversation

FOCUS ON LOS ANGELES COUNTY Southland Regional Economic Recovery Conversation. Jack Kyser LAEDC Chief Economist March 4, 2004. SHORT-TERM CHALLENGES. Reducing the employment cost package Why? Manufacturing matters but global competition puts California jobs at risk.

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FOCUS ON LOS ANGELES COUNTY Southland Regional Economic Recovery Conversation

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  1. FOCUS ON LOS ANGELES COUNTYSouthland Regional Economic Recovery Conversation Jack Kyser LAEDC Chief Economist March 4, 2004

  2. SHORT-TERM CHALLENGES • Reducing the employment cost package • Why? • Manufacturing matters but global competition puts California jobs at risk. • Retain/grow Economic Base LAEDC

  3. MAJOR MANUFACTURING CENTERS IN THE U.S.(2003e average employment, in thousands) Source: U.S. Dept. of Labor, BLS LAEDC

  4. JULY 1, 2003 POPULATION ESTIMATES • California 35,934,000 • Texas 22,118,509 • New York 19,190,100 • Los Angeles 5-County Area 17,475,800 • Florida 17,019,100 • Illinois 12,653,500 • Pennsylvania 12,365,500 • Ohio 11,435,800 • Michigan 10,080,000 • Los Angeles County 10,047,300 • Georgia 8,684,700 • New Jersey 8,638,400 • Population Change 2003/Census 2000 • Michigan + 141,500 • Los Angeles County + 528,000 Source: Bureau of the Census, CA Dept. of Finance LAEDC

  5. LONG-TERM CHALLENGES • Workforce training: K-12 & Community Colleges • Infrastructure -- moving people & goods • Affordable housing -- running out of space in the urban core LAEDC

  6. To find solutions, understand the multi-dimensional aspects of Los Angeles County

  7. ECONOMIC BASE OF SOUTHERN CALIFORNIA -- 2002 5-County Los AngelesOrangeRiv-SBVenturaTotal Tourism 255.7 116.3 79.9 16.1 468.0 Direct Int’l Trade 286.0 --- --- --- 443.4 Wholesale trade/logistics 195.3 79.5 32.3 12.2 319.3 Technology 170.8 89.5 11.7 16.2 288.2 Prof. business svcs. 173.1 68.8 19.2 10.5 271.6 Motion picture/TV prod. 226.6 3.9 0.7 1.0 232.2 Health svcs./biomedical 135.9 47.7 34.9 9.0 227.5 Financial svcs. 101.8 47.9 16.4 4.5 170.6 Apparel/textiles 125.1 18.1 3.5 2.1 148.8 Agric./food prods. mfg. 72.1 18.3 30.5 24.7 145.6 Fabricated metal prods. 70.2 30.1 19.4 4.0 123.7 Furniture mfg/wholesaling 42.4 12.2 11.7 1.1 67.4 Auto parts mfg/wholesaling 30.9 15.1 14.3 1.5 61.8 U.S. Dept. of Defense 3.6 1.3 5.4 7.5 17.8 Jewelry mfg/wholesaling 10.6 0.9 0.0 0.0 11.5 Petroleum prod. & refining 6.8 0.4 0.3 0.2 7.7 Toy mfg/wholesaling 5.4 0.9 0.2 0.0 6.5 LAEDC

  8. This is what multi-dimensionalism looks like….

  9. MANUFACTURING EMPLOYMENT BY REGION IN L.A. COUNTY-- 2002 Los Angeles County Total: 515,888 Source: U.S. Census Bureau LAEDC

  10. Location of Aerospace-related Firms in L.A. and Orange Counties

  11. Location of Apparel & Textile Firms in L.A. and Orange Counties Small houses = textile firms Black dots = apparel firms

  12. Location of Logistics Firms in L.A. County

  13. Location of Motion Picture, TV, and Music Production-related Firms Small houses = major studios and recording companies Black dots = all other firms

  14. CHALLENGES • Understanding the linkages with surrounding Metropolitan areas -- industry-industry; employment vs. housing centers • Understanding the relationships between sub-areas in the County. • Creating a vision to capture opportunities -- who will do it? LAEDC

  15. Keep up with economic news and major developments by subscribing to e-EDGE -- our free weekly news broadcast. Check out the web version at http://www.e-edge.org and sign up for the broadcast by e-mailing subscribe@e-edge.org. Download LAEDC’s economic publications from www.laedc.info

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