Blogs of the LA Area Chamber

In my final Business Perspective of 2016, I want to say thank you to the 1,650 member companies and organizations who support the mission and work of the Los Angeles Area Chamber of Commerce. When the Chamber was founded in 1888, 54 business owners signaled their commitment and determination to make L.A. an economic powerhouse and a great place to live and visit. Only 50,000 people lived in L.A. at that time.

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In almost every county across California, regardless of its political leaning, at least one in 10 people has health coverage because of Obamacare.

And in some counties, almost one-fifth of the population is eligible for insurance under the Affordable Care Act, either through the expansion of Medi-Cal or Covered California, the state-run health insurance marketplace that offers subsidized private coverage.

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California and Los Angeles are in the midst of a housing supply and affordability crisis that is threatening our economy and our quality of life. We are only building one new housing unit for every eight new residents. Last month, an analysis of data from the U.S. Census Bureau showed that millennials are leaving L.A. at one of the highest rates in the country. Over the last 10 years, the number of County residents between the ages of 18 and 35 decreased by 7.4 percent. The home of Hollywood, Silicon Beach, world-class universities and a revitalized downtown is losing some young wage earners because they can no longer afford to buy or rent a home in our city.

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It has now been more than a year since the Aliso Canyon gas leak temporarily shuttered one of this region’s most critical pieces of energy infrastructure. The impact on adjacent communities was significant, but after much work, the leak was stopped and new, stringent safety measures have been implemented. Yet, the facility still sits idle. It’s time to change that.

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The story of the growth of Los Angeles and its economy is highlighted by the ingenuity and vision of entrepreneurs. During National Entrepreneurship Month, I want to share with you what the Chamber is doing to ensure that L.A. builds on its fastest growing entrepreneurial sector: technology.

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California grabbed the first opportunity to expand Medicaid and ran with it, helping cut the number of uninsured people in half in a few short years.

Thanks in part to billions of dollars in federal funding, a third of California’s residents — including half its children — are insured by Medi-Cal, the state’s version of Medicaid.

Now, with the election of Donald Trump and a Republican-controlled Congress, the state that bet so heavily on the Medicaid expansion is bracing to see how much of its work will be undone. While no one knows yet exactly what will happen, many policymakers and advocates fear the federal government will end or severely limit funding for the expansion.

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Last week, the Chamber held its 15th annual Cash for College Convention, providing an opportunity for Los Angeles students and their families to explore college opportunities and receive individualized assistance in completing their Federal Student Aid (FAFSA) application. We’re proud to say that through this program, the Chamber and its partners have been able to help students secure an average of $35 million dollars annually in state and federal aid to make their college dream a reality. This work is vital since the number one barrier for many students aspiring to go to college is the cost.   

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This past week I've been reminded of how important leadership is. We rely on leaders for direction, for courage and for inspiration -- in business, the social sector and, of course, in government.

Nowhere is leadership more important than at the local level, where real nuts-and-bolts change happens. We are most successful at addressing society's biggest challenges by working together with those in our region who are committed to common causes.

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Last night we saw Los Angeles vote overwhelmingly for a commitment to our infrastructure and future. More than 75 percent of Angelenos approved Measure HHH, the $1.2 billion bond to build permanent supportive housing for the homeless. Nearly 70 percent of the County approved Measure M, the ½ cent sales tax for Metro’s Traffic Improvement Plan, which surpassed even the approval of the original Measure R. Measure CC, a $3.3 billion bond for upgrades to our Los Angeles Community College District’s nine campuses, passed with 75 percent of the vote.

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Tomorrow is Election Day. Months of campaigning and advocating will come to a close as California voters head to the polls to elect a new President, a new U.S. Senator and state legislative representatives. California voters will also decide the fate of 17 ballot propositions. Los Angeles County voters will be choosing two new supervisors and deciding three ballot measures. City of L.A. voters will see an additional four measures on their ballots.

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