Creating a Truly Business Friendly Climate

by Maria S. Salinas

Earlier this week, I traveled with Chamber Board Chair Jerry Neuman to Atlanta to engage with executives from some of our largest member investors – The Coca-Cola Company, Delta and The Home Depot – in their headquarters city. As I reflect on our meetings, I’m struck by the importance of trips like this. These major corporations, regardless of where they’re headquartered, see L.A. as a critically important market– and we believe they’re vital to this Chamber’s advocacy agenda and building a bold new L.A.

Listening to The Coca-Cola Company’s North America President share thoughts on the various way in which the company can support the Chamber’s advocacy efforts was truly meaningful. The same was true at Home Depot, where we learned of the retail giant’s strategic goals for the future, including investments in the Los Angeles region — in their workforce, their stores and our community.

California continues to outpace the nation in economic growth, and L.A. County in particular continues to lead both the state and the nation; but there’s more work to be done in order to foster a truly business-friendly climate. At each company visit this week, our conversations were rich – not only about plans for growth, but also about their company values and the challenges they face. We specifically discussed how the business climate in L.A., including regulations that create unnecessary restrictions for growth, create a painful reality. It’s a reality that makes business attraction and retention hard. 

Today, when it’s easy to start a business just about anywhere, we have to give businesses a reason to choose to start up and stay in L.A. Our thriving innovation sector, long-standing creative industry and status as the manufacturing hub of the U.S. make the idea of L.A. appealing … but sometimes the realities of succeeding in business here can be daunting. 

If we’re going to overcome those attraction, operation and retention issues, we must develop and drive a pro-business agenda that tackles some of the obstacles we face – from regulations and taxes, to talent shortages and housing affordability.

And, even when companies maintain their headquarters outside of the region, L.A. remains a key market and this Chamber a crucial partner. With its long tradition as the voice of business in L.A., this Chamber is uniquely positioned to continue engaging with the business community that isn’t headquartered here, bringing key issues to the forefront and leading the efforts to build a truly business friendly climate.