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FOCUS ON LOS ANGELES COUNTY Southland Regional Economic Recovery Conversation Jack Kyser LAEDC Chief Economist March 4, 2004.

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Presentation on theme: "FOCUS ON LOS ANGELES COUNTY Southland Regional Economic Recovery Conversation Jack Kyser LAEDC Chief Economist March 4, 2004."— Presentation transcript:

1 FOCUS ON LOS ANGELES COUNTY Southland Regional Economic Recovery Conversation Jack Kyser LAEDC Chief Economist March 4, 2004

2 SHORT-TERM CHALLENGES Reducing the employment cost package Why? 1. Manufacturing matters but global competition puts California jobs at risk. 2. Retain/grow Economic Base LAEDC

3 MAJOR MANUFACTURING CENTERS IN THE U.S. (2003e average employment, in thousands) Source: U.S. Dept. of Labor, BLS LAEDC

4 JULY 1, 2003 POPULATION ESTIMATES 1. California35,934,000 2. Texas22,118,509 3. New York19,190,100 Los Angeles 5-County Area17,475,800 4. Florida17,019,100 5. Illinois12,653,500 6. Pennsylvania12,365,500 7. Ohio11,435,800 8. Michigan10,080,000 Los Angeles County10,047,300 9. Georgia 8,684,700 10. New Jersey 8,638,400 Population Change 2003/Census 2000 Michigan+ 141,500 Los Angeles County+ 528,000 Source: Bureau of the Census, CA Dept. of Finance LAEDC

5 LONG-TERM CHALLENGES Workforce training: K-12 & Community Colleges Infrastructure -- moving people & goods Affordable housing -- running out of space in the urban core LAEDC

6 To find solutions, understand the multi-dimensional aspects of Los Angeles County

7 ECONOMIC BASE OF SOUTHERN CALIFORNIA -- 2002 5-County Los Angeles Orange Riv-SB Ventura Total Tourism 255.7 116.3 79.9 16.1 468.0 Direct Int’l Trade 286.0 --- --- --- 443.4 Wholesale trade/logistics 195.3 79.5 32.3 12.2 319.3 Technology 170.8 89.5 11.7 16.2 288.2 Prof. business svcs. 173.1 68.8 19.2 10.5 271.6 Motion picture/TV prod. 226.6 3.9 0.7 1.0 232.2 Health svcs./biomedical 135.9 47.7 34.9 9.0 227.5 Financial svcs. 101.8 47.9 16.4 4.5 170.6 Apparel/textiles 125.1 18.1 3.5 2.1 148.8 Agric./food prods. mfg. 72.1 18.3 30.5 24.7 145.6 Fabricated metal prods. 70.2 30.1 19.4 4.0 123.7 Furniture mfg/wholesaling 42.4 12.2 11.7 1.1 67.4 Auto parts mfg/wholesaling 30.9 15.1 14.3 1.5 61.8 U.S. Dept. of Defense 3.6 1.3 5.4 7.5 17.8 Jewelry mfg/wholesaling 10.6 0.9 0.0 0.0 11.5 Petroleum prod. & refining 6.8 0.4 0.3 0.2 7.7 Toy mfg/wholesaling 5.4 0.9 0.2 0.0 6.5 LAEDC

8 This is what multi-dimensionalism looks like….

9 MANUFACTURING EMPLOYMENT BY REGION IN L.A. COUNTY-- 2002 Los Angeles County Total: 515,888 Source: U.S. Census Bureau LAEDC

10 Location of Aerospace-related Firms in L.A. and Orange Counties

11 Location of Apparel & Textile Firms in L.A. and Orange Counties Small houses = textile firms Black dots = apparel firms

12 Location of Logistics Firms in L.A. County

13 Location of Motion Picture, TV, and Music Production-related Firms Small houses = major studios and recording companies Black dots = all other firms

14 CHALLENGES Understanding the linkages with surrounding Metropolitan areas -- industry-industry; employment vs. housing centers Understanding the relationships between sub-areas in the County. Creating a vision to capture opportunities -- who will do it? LAEDC

15 Keep up with economic news and major developments by subscribing to e-EDGE -- our free weekly news broadcast. Check out the web version at http://www.e-edge.org and sign up for the broadcast by e-mailing subscribe@e-edge.org. Download LAEDC’s economic publications from www.laedc.info


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