The Business Perspective

The Los Angeles Area Chamber of Commerce released a new study this week, titled, “California’s Competitiveness: A Regional Approach.” The report, published in cooperation with the Inland Empire Economic Partnership and through a grant provided by Bank of America, sheds light on why California should be optimistic about the future and alert to changes in business dynamics.

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The nation’s debt ceiling showdown concluded in Washington, D.C. with a compromise. Avoiding an economic crisis is important not only here in the U.S., but in international markets as well.

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The Los Angeles region is America's gateway to the world and much of that is due to the San Pedro Bay Port Complex. The Complex, consisting of our Port of Long Beach and Port of Los Angeles, is essential to goods movement throughout the U.S. The complex managed 29% of the nation’s imported or exported waterborne containers and 75% of the West Coast’s market share.

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The Los Angeles Area Chamber of Commerce represents the interests of the business community with a broad spectrum of members focused on job creation and innovation. Members include private, non-profit, academic, and public agencies.

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Los Angeles business, education and community leaders descended upon the state capital this week for our annual delegation trip, ACCESS Sacramento. Statewide administration officials, legislators, and public policy experts met with our delegation to provide briefings on a variety of statewide topics, including the state budget, housing, apprenticeship and workforce, energy transition readiness, and small business support.

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Global trade offers job creation, growth opportunities for companies, and contributes to the economy while fostering relationships between nations, all benefiting the Los Angeles region.

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The Los Angeles Area Chamber of Commerce and its members are deeply vested in the Los Angeles region, and believe collaboration with government is essential for a thriving region. We were pleased to welcome Los Angeles Mayor Karen Bass to a meeting with the Chamber Board of Governors. The Mayor was accompanied by Deputy Mayor for Business and Economic Development Rachel Freeman.

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In March, we celebrate Women’s History Month, highlighting the successes of women. While in Washington, D.C. I was pleased to be invited to the White House for the Small Business Administration’s 2nd annual Women’s Business Summit. I was proud to join the Small Business Administration’s Administrator Isabella Casillas Guzman and President Joe Biden to celebrate women entrepreneurs and business owners from across the country.

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When Mayor Karen Bass was sworn in on Dec. 11, 2022, she made history as the first woman and only the second African American to hold the city’s chief executive position. In her first 100 days, Mayor Bass has taken accountability for the issues the city is facing and the Chamber commends the mayor on her swift response and bold leadership on the city’s homelessness crisis. The Chamber is encouraged by Mayor Bass’ commitment to revitalizing the city in the post-pandemic economy, and with her collaborative approach to working with the business community.

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As a former director and Chairwoman of a community bank, I know the detailed attention it takes to manage the health of a bank. Never could I have imagined another banking crisis on our hands. Luckily a grave situation was averted with federal government interaction over the weekend. The failure of Silicon Valley Bank (SVB), the 16th largest bank, shook the banking community, especially the regional and community banks.

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