The business climate in Los Angeles might have its challenges – as the climate in every U.S. world-class city does – but we found the city of Los Angeles offers exciting prospects for businesses committed to seeking a positive business environment.

I know this well because my company, Goldline, one of the nation’s leading retailers of gold and silver, recently moved its offices from our longtime home in Santa Monica to the city of Los Angeles. Moving more than 300 employees can be complicated and expensive, but when we looked at Los Angeles, we saw a unique opportunity to become part of L.A.’s vibrant business community at one of the most exciting times in the city’s economic history.

We’re seeing creative ideas, incentive programs and positive discussions about business policy across the city that offer a bright economic future – one where a variety of businesses can thrive, contribute to a diverse economy and create quality jobs that truly make a city strong.

One of the most significant concerns for many businesses considering a move to Los Angeles is the city’s business tax, which taxes a percentage of the gross receipts of a business. Many feel the tax inhibits economic growth and places an unfair burden on businesses with lower profit margins. The repeal of the gross receipts tax would likely encourage businesses to move into the city and promote growth and job creation.

Just a few years ago, the idea of repealing this tax was a nonstarter at City Hall. Now, the political will to repeal this tax is strong. During the mayoral race in 2013, both Wendy Greuel and Eric Garcetti expressed strong support for eliminating the gross receipts tax. It is now one of the top economic priorities of Mayor Garcetti and many City Council members.

Business tax holiday

Until the business tax is repealed, the city has adopted a business-tax-holiday policy that allows all new businesses in Los Angeles to forgo the tax for three years. This holiday helps companies such as mine make the transition to Los Angeles as we establish ourselves in our new home.

Beyond the business tax holiday, there are infrastructural advantages that provide L.A.-based businesses higher potential for growth and cost savings. This also factored heavily into our decision.

One such advantage is the city’s direct ownership of its utility provider, the Los Angeles Department of Water & Power. Direct city ownership means often significantly lower rates on water and power, resulting in substantial long-term cost savings. In addition, the DWP often provides discounted utility rates to the members of the business community who need it the most.

We also see a rapidly evolving transportation infrastructure that will further promote economic development in the city. An effective transportation system is the bedrock of a strong economy. In the past few years, Los Angeles has begun a public transportation renaissance with new, fully funded rail projects like the Purple Line and the Expo Line connecting all of Los Angeles and reaching north into the San Gabriel Valley.

In sum, Los Angeles is a city that welcomes and supports business. And we’re happy to become part of this exciting business community.

Brian R. Crumbaker is chief executive of Goldline, an L.A.-based national retailer of precious metals.