LAEDC Announces Finalists: "Most Business-Friendly City" Award

The Los Angeles County Economic DevelopmentCerritos offers a streamlined permit process and is
Corporation (LAEDC) announced the finalists todaydedicated to strategic planning and high-quality
(Tuesday) for Los Angeles County's "Mostdevelopment standards. They are also a "no-or-low
Business-Friendly City." The cities of Burbank,property tax city."
Cerritos, Lancaster, Long Beach, Palmdale and SantaLancaster combines plentiful land at affordable prices,
Clarita have been selected from the 88 cities in LAstrong incentives including an Enterprise Zone and
County by a blue-ribbon panel of judges for theirredevelopment project areas, a fast-track permit
commitment to attracting and retaining businessesprocess and a dedicated project ombudsman to
which provide quality jobs for their residents. Theattract businesses to its city. They have an
winner will be presented at LAEDC's Annual Eddyaggressive and pro-business City Council, which takes
AwardsÂ(R), honoring economic developmenta practical approach to business. They also have a
leadership, Tuesday, Nov. 6, 2007 at the Beverlywell-educated and experienced workforce, which
Hilton hotel (9876 Wilshire Blvd, Beverly Hills, CAcontributes to an ideal environment for businesses to
90210). More than 700 leaders from the business,thrive and grow.
government, and education communities areLong Beach has demonstrated its commitment to
expected to attend the gala dinner.retaining jobs in its region through an investment in
In the past 25 years, the County of Los Angeles hasthe local business community by offering Enterprise
added more than 2.5 million residents, but only aboutZone benefits, expedited permit processing, and a
half a million jobs. Some cities in the County havetransparent proactive government comprised of civic
actually lost jobs in that period, while others haveleaders who understand the necessity of planned
added many new jobs. Much of the reason for thatgrowth. Their Long Beach Business Development
disparity is that many cities are more proactive thanCenter offers grants and loans, permit and site
others about attracting and retaining quality jobs thatselection assistance, and help with employee
pay good salaries and generate healthy tax revenues.recruitment and training.
"To ensure the economic health of our region, weThe City of Palmdale boasts affordable land for
need to be more aggressive in attracting andretainingdevelopment, proactive business-friendly city leaders,
businesses and the jobs they bring to our manyand is a no-or-low property tax city. Palmdale also
communities, said Bill Allen, LAEDC president and CEO.provides a comprehensive array of incentives,
"LA County is quickly becoming the Business Capitalincluding Enterprise Zone, redevelopment project
of America, and this award will showcase the cityareas, stream-lined permit processing, dedicated
that best shows what it means to beproject managers, industrial development bonds,
business-friendly in our region," he said.development deferrals and or waivers, a business
The award finalists were selected based on theliaison and a foreign trade zone for those businesses
following criteria:involved in international trade. They also have a
Ø Demonstrated commitment totalented and eager workforce.
economic development as a priorityAmong the benefits of doing business in the City of
Ø Excellence in programs and servicesSanta Clarita is that it doesn't have a business license
designed to facilitate business entry, expansion andfee, nor does it assess a utility user tax and it has
retentionone of the State's newest Enterprise Zones. Santa
Ø Economic development activity overClarita offers its businesses and residents a highly
past three yearseducated workforce, available land for development,
Ø Competitive business tax rates andsite selection assistance, expedited plan reviews and
fee structurespermit processing, and a high quality of life. It is also a
Ø Availability of economic incentivesthriving center for industry clusters such as
Ø Effective communication with andaerospace manufacturing, bio-medical, entertainment
about business clientsand technology.
Ø Each winner is eligible to reapply inLast year, the City of El Segundo was the first place
three yearswinner for the "Most Business-Friendly City."
Each of the finalists has created a business-friendlyThe Eddy AwardsÂ(R) were introduced by
environment that encourages businesses to locate orthe LAEDC in 1996 to celebrate individuals and
expand in their respective communities. Burbank hasorganizations that demonstrate exceptional
no gross receipts business license tax, and acontributions to positive economic development in
streamlined permit process. They provide innovativethe region. For more information about the Eddy
financing programs for businesses and offerAwards™, including sponsorship
competitive incentive programs. They also activelyopportunities, please visit For past Eddy honorees
market their city services to key decision makersplease visit:
and major corporations. Free "wifi" service in theirThe Los Angeles County Economic Development
downtown area and competitive utility user taxes areCorporation (LAEDC), the region's premier business
additional benefits of doing business in Burbank.leadership organization, is a private, non-profit
Cerritos offers businesses a strategic location. Theyorganization established in 1981. Its mission is to
assess the needs of existing businesses and provideattract, retain, and grow business and jobs for the
an ombudsman to escort businesses through theirregions of Los Angeles County. Since 1996, the
development projects. They have a businessLAEDC has helped retain or create more than
improvement district, and have designated portions132,600 jobs, providing $5.6 billion in annual benefit to
of the city as "redevelopment project areas"LA County.
providing opportunities for innovative financing.