The Business Perspective

Los Angeles' economy is driven by 270,000 businesses that call this city and county home. These businesses, large and small, employ more than 3.9 million people and they have established L.A. as one of the most dynamic and diverse economies in the world.

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Los Angeles, as the second largest city in the USA, should be able to compete for most major domestic and international conventions, but we cannot. Our convention center is not large enough, not technologically advanced enough, and equally as important, we do not have a sufficient supply of hotel rooms within walking distance of the convention center. 

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Next week, 80 business and civic leaders will head to the state capital for our annual ACCESS Sacramento advocacy trip. With Gov. Brown’s May revise last week sending the budget process into high gear, and the deadline to get bills out of their house of origin looming, it will be an impactful time to visit with our state representatives.

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It is very unusual for the Chamber to support five out of five ballot propositions on a statewide election. That is the recommendation from our staff and Board of Directors for the June election.

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In his January budget, Gov. Brown proposed a new funding formula for California's Community Colleges. The proposed "Student-Focused Funding Formula" would change the way community colleges are funded, from an enrollment-driven funding model, to one that takes into account the success of students in completing their educational goals. This outcomes-based formula reflects a long-standing Chamber priority to utilize funding incentives to improve student retention and the completion of degrees, credentials and transfer requirements.

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Six weeks from today, California will hold the statewide June primary election. Voters will select candidates for Governor, Lieutenant Governor, Treasurer, Controller, Attorney General, Secretary of State, Insurance Commissioner and Superintendent of Public Instruction. Five statewide propositions will be on the ballot, as well as a U.S Senate seat, Congressional seats, state Senate and Assembly races, Board of Equalization districts and countywide office holders like Sheriff and Assessor.

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Half a million direct jobs. Nearly 600 million tons of freight annually valued at $1.7 trillion. A 55 percent increase in warehouse jobs in the last decade. These numbers from a 2017 LAEDC report are a snapshot into the importance of the goods movement industry in Southern California. From the ports of Long Beach and Los Angeles, through the heart of L.A. and Orange counties, and deep into the Inland Empire, the jobs associated with international trade and e-commerce sustain more than one-half million families in our region. And the number is growing.

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Last week, two bold steps were taken that will positively affect Los Angeles and Southern California for decades. The Chamber was a proud champion of both.

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Not since the North America Free Trade Agreement (NAFTA) came into force on Jan. 1, 1994 has international trade been in the national news on a daily basis. The U.S. trade representative Robert Lighthizer elected to cancel the last NAFTA roundtable renegotiations scheduled to take place this week, instead he call to have a series of ministerial meetings on the agreement. Along with the tariffs on imports being proposed by the U.S. and China, this is an appropriate time to remind Southern Californians about the huge importance of international trade to our local economy.

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In today’s increasingly competitive economy, every projection shows that California is not on track to produce the skilled workforce we need to fulfill future economic demands. By 2020, 65 percent of all jobs in the U.S. will require some level of postsecondary education and training. The Public Policy Institute (PPIC) estimates that California will face a shortage of 1.1 million workers with a bachelor’s degree by 2030. 

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