LOS ANGELES, CA – The Los Angeles Area Chamber of Commerce applauds City Council President Eric Garcetti and Councilmember Greig Smith for moving quickly to introduce a motion that would establish a mandatory economic impact analysis for city initiatives that could affect private sector jobs, the business climate and the overall economy. The Chamber also thanks the offices of Mayor Antonio Villaraigosa and City Controller Wendy Greuel for their integral support in this effort.
“The L.A. Area Chamber congratulates city leaders for recognizing this successful model, which will help improve city legislation, especially as we work toward economic recovery,” said Gary Toebben, President & CEO, Los Angeles Area Chamber of Commerce. “An economic impact analysis will provide city officials with an important tool to develop policies that promote job creation and business growth.”
For the past six months, the Chamber has been meeting with city officials, along with fellow business groups BizFed, the Los Angeles County Economic Development Corporation (LAEDC), Valley Industry and Commerce Association (VICA) and the Central City Association (CCA) of Los Angeles to push this successful model used in San Francisco, in which a team of nonpartisan economists evaluate new legislation for its potential impact on jobs, the ability to keep businesses in L.A., the amount of private sector investment attracted and tax revenue for the City.
The Los Angeles Area Chamber of Commerce represents the interests of business in L.A. County. Founded in 1888, the Chamber promotes a prosperous economy and quality of life in the Los Angeles region. For more information, visit www.lachamber.com.