L.A. area cities are often criticized for being hostile to business.
Now, in a bid to get cities to be more responsive to business, the Los Angeles County Economic Development Corp. wants to recognize cities that do go out of their way to put out the welcome mat for business.
In its first ever award for the most business friendly city, the economic development consortium announced Wednesday that it has nominated five cities as finalists: Burbank, El Segundo, Lancaster, Long Beach and Santa Clarita.
“In the past 25 years, the County of Los Angeles has added more than 2.5 million residents, but only about half a million jobs,” said Bill Allen, chief executive of the LAEDC. “Many cities are more proactive than others about attracting and retaining quality jobs that pay good salaries and generate healthy tax revenues.”
Allen said the purpose of the new award is to encourage cities to provide the highest level of economic development services for businesses. The finalists were chosen on the basis of excellence in their economic development programs, the competitiveness of their business tax rates and fee structures and the availability of economic incentives.
The winner will be announced at an awards ceremony in October.
Five cities in L.A. County have qualified as finalists for the first-ever award recognizing the most business-friendly city.