LOCAL INFORMATION & RESOURCES

QUICK OVERVIEW California boasts some of the richest and most dynamic industrial markets in the nation thanks to the state's position as the nation's gateway to Asia and the demands of it's own growing markets. Not only is California home to the nation's largest industrial market with the Los Angeles basin home to more than a billion square feet of industrial space and low vacancies, but it also has the fastest growing industrial market. The Los Angeles region is composed of the following counties--Los Angeles, Santa Barbara, San Bernardino, Orange, Riverside and Ventura--located in the southern part of the state. It is a diverse region that stretches eastward from shoreline, over coastal plains, across mountains, to the desert below. The climate is typical of Southern California, with hot deserts, warm inland valleys and cooler coastal areas. With almost 10.5 million residents, the Los Angeles region accounts for one-third of the statewide population. The City of Los Angeles, California is the second most populous City in the United States with an estimated 2002 population of approximately 3.8 million. Los Angeles is the principal city of a metropolitan region stretching from the City of San Buenaventura to the north, the City of San Clemente to the south, and the City of San Bernardino to the east. A quick demographic profile of Los Angeles County indicates that: 44.6% of the population is Hispanic; 31.1% White non-Hispanic; 12.0% is Asian-Pacific Islander; and 9.5% Black (2000 Census).  70% of the population has a high school diploma or more, while 22% has a bachelor's degree or more (1990 Census). Considered independently, Los Angeles County's economy would be ranked among the world's top 20 countries and approximates the size of Sweden or Switzerland. The economic base of Los Angeles County is diverse, with no one sector being dominant. Some of the leading activities include government (including education), business/professional management services (including engineering), health services (including training and research), tourism, distribution, and entertainment. Los Angeles is the second largest major manufacturing center in the U.S., with 605,700 workers in these activities in 2001.  The largest components are: apparel with 91,400; instruments with 50,900; aircraft & parts with 47,800; printing/publishing and fabricated metal products both with 47,200; food & kindred products with 46,100; industrial machinery with 44,400; and electronic products with 41,200. International trade is a major component of the area's economy.  The Los Angeles Customs District (including the ports of Long Beach and Los Angeles, Port Hueneme, and Los Angeles International Airport) is the nation's second largest, based on value of two-way trade.  In 2001, this totaled $212.5 billion, compared with $214.1 billion of the first place New York.  Major investments are being made in port and transportation facilities, including the $2.4 billion Alameda Corridor project which was completed on-time and on-budget in April, 2002.  There are also three foreign trade zone designations. The services sector was the major employment sector in the County in 2001, employing 33.3% of the nonagricultural wage and salary workers in the County. Wholesale and retail trade, combined at 22.2%, is the second highest employment sector in the County, followed by manufacturing, which employs 14.8% of the nonagricultural wage and salary workers in the County. Los Angeles is the second largest major manufacturing center in the U.S., with 605,700 worker in these activities in 2001. The largest components are : apparel with 91,400, instruments with 50,900; aircraft & parts with 47,800; printing/publishing and fabricated metal products both with 47,200; food & kindred products with 46,100; industrial machinery with 44,400; and electronic products with 41,200. Under Proposition 13 ad valorem taxes on real property (other than taxes relating to certain voterapproved indebtedness) are limited to one percent (1%) of the “full cash value”. Higher and specialized education is a strength of Los Angeles County, with 159 college and university campuses.  These range from California Institute of Technology, the Claremont Colleges, UCLA, and USC, to specialized institutions such as the California Institute for the Arts, the Art Center College of Design, the Fashion Institute of Design and Merchandising, and the Otis Art Institute. Medical education is also a strong point with two each of medical schools, dental schools, and eye institutes, as well as specialized research and treatment facilities such as the City of Hope.  The community colleges offer an array of innovative programs, such as fashion design, multimedia, and computer assisted design and manufacturing training. Transportation service in Los Angeles County is extensive.  In addition to the ports and airports noted above, there are three other commercial airports (Glendale-Burbank-Pasadena, Fox Field and Long Beach).  Besides the extensive freeway system, there is an array of rail mass transit options including Amtrak, Metrolink (commuter rail), and Metrorail (subway & light rail).  Rail freight service is provided by Burlington Northern Santa Fe and the Union Pacific. Quality of life options in Los Angeles County are plentiful. These range from professional sports to personal recreation at beaches, marinas, and mountain resorts. There is a growing array of fine and performing arts activities. In the past few years, many new landmarks opened, including the Getty Center, the California Science Center and the Staples Center sports arena in downtown Los Angeles. Downtown Los Angeles has seen a resurgence in living spaces as several thousand new artist loft apartments and condos have been developed and occupied. The Southern California Industrial Real Estate Market sub-market represents over 26 percent of the approximate 1 billion square foot industrial base of the Southern California market. The Central Los Angeles market is the largest sub-market in the Western United States. Downtown Los Angeles Industrial submarket 2005 statistics: 119 million base square feet; 2-4% vacancy; 6-8% availability rate. Downtown Los Angeles is one of the most dynamic urban centers in the world. The market is experiencing a period of accerlerated growth stimulated by an increasing interest in urban living, resulting in the investment of billions of dollars into housing, amenities, transportation infrastructure, civic and cultural projects. With an influx of nearly $10 billion invested from 2000-2007 into office, retail, hotel, multifamily, and mixed-use developments and renovations - the Downtown market is attracting some of the highest-quality tenants and residents in all of Southern California.

LOCAL INFO L.A. Times Newspaper The Guide to Business Resources provided by the LA Business Team. The Official City of Los Angeles Homepage Here you can contact many city departments and get crucial info like building permit applications or obtain the phone number of the Street Maintenance crew to repair a pothole on your street! LA Downtown News Newspaper Doing Business in California, a part of the California State Government Page. Find out about Business Programs and laws. Downtown Los Angeles information about everything downtown! Los Angeles Business Journal Los Angeles Economic Development Corp. WHILE YOU VISIT US LA Restaurant Picks Realtime Los Angeles Traffic Report Staples Center Arena Yahoo Los Angeles BUSINESS, ECONOMIC, NEWS & TAX HELP CNN Money Real Estate News Real Estate Exchange (1031) Frequently Asked Questions Small Business Administration. Resources, financing, and links. IRS Tax Guide For Business. Los Angeles Economic & Demographic Information

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