Benchmark Study to Rely on Input From County’s Businesses

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Benchmark Study to Rely on Input From County’s Businesses

By DANNY KING

Staff Reporter

The Milken Institute and the Los Angeles Economic Development Corp. will team up to study and then offer recommendations on the Los Angeles County economy. The study, for which data is already being collected, will take 12 to 18 months to complete.

The study is expected to tackle a broad range of concerns, including the exodus of corporate headquarters, the housing shortage, traffic congestion and the homeless. The Institute and the LAEDC will seek out the opinions of several hundred business and civic leaders as part of the research effort.

“There really hasn’t been a detailed benchmarking study that looks at the L.A. County economy,” said Ross DeVol, director, regional and demographic studies at the Milken Institute. “There needs to be an assessment made on where we’re at currently and what changes need to be made for the future of the economy.”

What differentiates this project from other economic studies will be the recommendation section, according to Jack Kyser, EDC’s chief economist. About 40 percent of the study will consist of action and implementation plans, which the two organizations will work to put in place with city and county governments.

“We agreed that you don’t do a study that goes on a shelf,” said Kyser. “We want to make sure we move heaven and earth to get these actions implemented.”

The Milken Institute and the LAEDC will be funding the project, although social research organizations like the Haynes Foundation will be contacted for additional funding, said Kyser.

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