Los Angeles Business Journal

LAEDC Raises More than $1 Million for New Initiative to Attract High-Paying Jobs

The Los Angeles Economic Development Corp. announced Wednesday it has raised more than $1 million from major employers, universities, and civic organizations to fund a new initiative to bring more high-paying jobs to the county.

Forecast: Unemployment to Hold Steady in L.A. County as Job Growth Slows

L.A. County’s unemployment rate is expected to hover around 5 percent this year and next year as the job growth rate slows, according to a forecast issued Wednesday by the Los Angeles County Economic Development Corp.

L.A. Tops Congestion Ranking for U.S., Global Cities

The L.A. metro area has topped a list of the world’s most gridlocked cities, according to a report issued late Sunday.

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Trump’s Talk Makes It Tough to Sound Out Future

ECONOMY: LAEDC’s team of forecasters put to test by stream of pronouncements.

Los Angeles Economic Development Corp. forecasters try to figure in Donald Trump’s future impact. 4

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Will Air Plan Box In Cargo?

SHIPPING: Businesses fear proposal may curb truck trips

Cargo movers fear proposed air regulations could drive down the number of truck trips.

L.A. City Council Gives Final Approval to Decriminalize Street Vending

The Los Angeles City Council on Wednesday gave final approval to an ordinance decriminalizing street vending and laying out a compromise proposal for regulating vending within the city.

State Allocates $100 Million in Film Tax Credits to 22 Film Projects

The California Film Commission on Monday announced it was allocating another $100 million in film tax credits to 22 film productions, including a remake of “A Star Is Born,” and an untitled big-budget film from Paramount Pictures.

Federal Attention Buoys Stock of Aquifer Owner

WATER: Trump team puts Cadiz’s desert project on list of infrastructure investment.

Cadiz’s stock heats up as its desert aquifer project makes a federal infrastructure priority list.

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Plan to Shutter Santa Monica Airport has Businesses’ Fate Up in Air

Set for Take-Off?

Plan to close Santa Monica Airport has some businesses there looking to land a new home.

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Port of Long Beach Cargo Surged in January

Reversing a slide at the end of last year, cargo shipments at the Port of Long Beach rose sharply in January, up 6 percent from December and up 8 percent from a year ago, port officials reported Thursday.

Report: Immigrants to Los Angeles Provide Major Economic Boost

Immigrants to Los Angeles generate more than one-third of the county’s gross domestic product and account for more than half of the self-employed workers in the county, according to a new study released Wednesday.

Survey: L.A. Consumer Sentiment Plunged During 4th Quarter

Stung by the surprise election of Donald Trump as president, L.A. consumers turned bearish on the economy during the fourth quarter, sending a new consumer sentiment index plunging 12 percent from the previous quarter.

Contractor Will Ride Rail With $1.4 Billion Deal

TRANSIT: Joint venture of Tutor Perini will take Purple Line; Gold calendar laid out.

Metro digs Tutor Perini’s joint venture as the contractor for a $1.4 billion subway extension.

Conflict Builds Around Development Restrictions

REAL ESTATE: Opposition, support campaigns ramp up as vote on Measure S nears

With a month to go before Election Day, the rhetoric is heating up on both sides of the campaign over Measure S development restrictions.

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City of Los Angeles Clears Way for Street Vendors

GOVERNMENT: Council votes to legalize in response to Trump deportation talk

Fear of deportation crackdown spurs city of L.A.’s vote to legalize street vending.

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Big Cargo Move

Long Beach port hopes Middle Terminal stacks up with megaships.

Port of Long Beach expects big gains from its megaship-servicing Middle Terminal.

L.A. Region Leads Nation in Business Startups

The Los Angeles-Orange County region leads the nation in business startups, according to a report released Wednesday from the Economic Innovation Group.

L.A. City Council Decriminalizes Street Vending, Lays Groundwork for Regulating Vendors

After a years-long struggle for recognition, street vendors in Los Angeles won a major victory Tuesday as the City Council voted to decriminalize street vending and laid out a compromise proposal for regulating vending within the city.

L.A. Game for Olympics

SPORTS: City signs off on host contract that calls for coverage of cost overruns.

City of Los Angeles signs up for host duties in a bid to score the 2024 Olympics and Paralympics.

Airport Plans Up in Air?

AVIATION: JetBlue’s losing bid for international flights may mean Long Beach cuts.

JetBlue Airways fails to land clearance for international flights at Long Beach Airport.

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BID Assessment Hits Home for Venice Residents

DEVELOPMENT: Couple headed to court to fight fees on live-work property

Residents file suit to have their live-work property zoned out of Venice’s new BID.

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Hydropower Project Would Give Ground for OK

ENERGY: Eagle Crest’s land offer could improve desert venture’s prospects

Eagle Crest seeks to gain ground on its storage project by giving land to the National Park Service.

Tutor Perini Awarded Contract for Wilshire Subway Extension; Gold Line Extension Completion Pushed Back

A joint venture led by Sylmar-based Tutor Perini Corp. has been awarded a $1.4 billion contract by the Los Angeles County Metropolitan Transportation Authority to construct the second phase of the Metro Purple Line subway through Beverly Hills and into Century City.

Long Beach City Council Rejects Plan for International Flights at Long Beach Airport

The Long Beach City Council on Tuesday night rejected a plan for international flights at Long Beach Airport, throwing JetBlue Airways future flight plans for the airport into disarray.

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L.A. City Council Authorizes Signing of Host City Contract for 2024 Summer Olympics

The Los Angeles City Council Wednesday voted unanimously to authorize the signing of the host city contract with the International Olympic Committee should the city win the bidding to host the 2024 Summer Olympic and Paralympic Games.

Southern California Edison Seeks $570 Million For Electric Vehicle Programs

Southern California Edison is seeking $570 million from ratepayers to fund electric vehicle charging stations and other electric transportation services, it announced Monday.

Southern California Edison Seeks $570 Million For Electric Vehicle Programs

Southern California Edison is seeking $570 million from ratepayers to fund electric vehicle charging stations and other electric transportation services, it announced Monday.

L.A. County Unemployment Rate Drops to 5 Percent

L.A. County’s unemployment rate dipped to 5 percent in December amid modest job growth, state figures released Friday show.

Paramount Metal Plating Firm Suspends Operations to Comply with Air Agency Order

Paramount metal finishing company Aerocraft Heat Treating Co., Inc., has temporarily shut down all operations emitting the toxic compound hexavalent chromium to comply with an administrative order designed to protect public health, the South Coast Air Quality Management District announced late Thursday.

Hike in Federal Employment Insurance Arrives

TAXES: Companies must shell out as much as $168 per worker this month.

California employers, hit by an increase in the minimum wage this month, have another cost hike to worry about: an increase of as much as $168 per employee in the annual federal unemployment insurance tax, a sum that’s due at the end of the month.

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Residential Developer Tips Cap to City’s Assist

GOVERNMENT: Financial support eased creation of affordable housing units.

Developer Dan Rosenfeld says city financing can open doors for affordable housing projects.

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Homeless Hurdles

Projects hoping to tap city bonds mull risk with Measure S looming

Homeless housing plans could get hung up on Measure S’ restrictions on development.

L.A. Cleantech Incubator Founding CEO to Step Down

Fred Walti, the founding chief executive of the Los Angeles Cleantech Incubator, is stepping down after six years at the helm, Los Mayor Eric Garcetti announced Thursday.

LA 2024 Olympic Bid Committee Proposes Ceremonies at Coliseum and Inglewood’s NFL Stadium

The LA 2024 Olympic Bid Committee on Monday revealed it’s proposing to hold the opening and closing ceremonies for the Summer Games simultaneously at both the Los Angeles Memorial Coliseum and the planned NFL Stadium in Inglewood.

Palladium Project Antagonists Dominate Fundraising in L.A. Development Ban Fight

The developer of the Hollywood Palladium Towers project and the project’s main opponent dominated the early fundraising on opposite sides of the Measure S anti-development campaign, according to finance reports filed late Friday.

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LAX Moves on $6 Billion Plan to Ease Transit In, Out of Airport

Getting Lift

LAX looks to get moving on transit improvements as the way is cleared for project bidding.

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2016 Container Traffic Up at Port of Los Angeles, Down at Port of Long Beach

For 2016, it was a tale of two ports when it comes to container cargo traffic. Last year, the Port of Los Angeles logged record container levels, with nearly 8.9 million container units passing through the port, up 8.5 percent over 2015 and eclipsing the 2006 record of nearly 8.5 million container units.

Councilmembers Propose Partial Ban on Campaign Contributions from Developers

A group of L.A. city councilmembers on Tuesday proposed banning contributions to council campaigns from developers with projects currently or recently before the city.

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LA 2024 Summer Olympics Would Generate $11 Billion in Local Economic Impact

If the 2024 Summer Olympic Games were held in Los Angeles, it would generate $11 billion in local economic impact, according to a study released Monday by the LA 2024 Olympic Organizing Committee.

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Lawsuit Aims to Uproot County Park Measure

TAXES: BizFed supports action against levy that hits developed properties.

A local business group is welcoming a legal challenge to a park tax measure approved by voters in November.

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DWP, city of L.A. draft plan to speed water, power hook-ups.

A Look Ahead: What’s on the agenda for Los Angeles business in the coming week

Seth Manheimer sure wishes the “bill of rights” for customers of the Los Angeles Department of Water and Power that will be voted on Jan. 17 had been around a year ago when he was trying to open a yoga studio in Hollywood.

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Bicycle Vendors Hope to Harness Electric Buzz

TRANSPORTATION: Bike shops position once niche items to power up sales.

Local dealers are gearing up to ride an increased interest in electric bikes

Measure S Opponents Agree to Change Ballot Argument Language

Opponents of a ballot measure that would limit development in Los Angeles announced late Wednesday that they have reached an agreement to change the language of their ballot argument to settle a lawsuit brought last month by supporters.

Feds Announce $1.5 Billion Grant, Loan for Subway Extension to Century City

A federal grant and loan totaling nearly $1.5 billion to build the second phase of the Metro Purple Line subway extension from Beverly Hills to Century City was announced Wednesday by the U.S. Department of Transportation and the Los Angeles County Metropolitan Transportation Authority.

Garcetti Unveils LADWP Customer Bill of Rights

Los Angeles Mayor Eric Garcetti on Tuesday unveiled a new customer Bill of Rights for the Department of Water and Power, including a guarantee of new business service connections within 10 business days.

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Pacific Waves

INVESTMENT: China scales L.A.’s economy, but to lesser degree than Japan in 1980s

Despite comparisons to Japan in the 1980s, Chinese money has yet to make the same impact.

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Lobby Issues In Hotel Vote

POLITICS: Campaign raised questions of foreign influence.

Companies’ pursuit of their business interests has stoked concern over foreign influence.

Gov. Brown Appoints Local Attorneys to Judicial Posts

Gov. Jerry Brown on Friday named six new judges to the Los Angeles Superior Court, including three local private sector attorneys.

Supporters of Anti-Development Measure S File Lawsuit over Opponents' Ballot Argument

Proponents of Measure S, the Neighborhood Integrity Initiative to limit development in Los Angeles that is on the March ballot, have filed a lawsuit alleging the ballot argument by opponents is full of false claims and exaggerations about the initiative’s economic impact.

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Aecom Joint Venture Team Wins San Onofre Decommissioning Project

A joint venture team including L.A.’s Aecom Technology Corp. has been awarded a contract for part of the decommissioning process of the shuttered San Onofre nuclear generating station in northern San Diego County.

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