TV/ film permits, international trade and tourism helping economy recover says Kyser Center for Economic Research in study released today

16 02 2011

LAEDC Report Says  Southern California,  California, U.S.  Economic Recovery is Underway, Stronger Growth in ’12

In L.A. County, international trade, entertainment and tourism leads regional economy.

A separate report shows striking economic and personal ties with Japan

Dr. Nancy Sidhu

Los Angeles — The economic recovery is  under way led by increased international trade  and growth in the high-tech sector,  entertainment and tourism, according to  the 2011-2012 Economic Forecast and  Industry Outlook report released today by  the Kyser Center for Economic Research at  the Los Angeles County Economic Development  Corporation (LAEDC).

The Los Angeles economy “appears to be past the bottom of the recession and is starting up the recovery path during 2011 and 2012,” said LAEDC Chief Economist Nancy D. Sidhu, Ph.D. “Many industries are back in the black and employment is rising in some areas.”

Imports and exports have rebounded around the world. Increased international trade activity in 2011 will benefit the ports of Los Angeles and Long Beach, which both posted strong years in 2010.

TV/Film production on the rise in the region says study

Hiring is also expected to  grow as well for the region’s  tourism and entertainment  sectors as a result of  increased filming and more    visitors to the region,  helped by the new  convention center hotel at  L.A. LIVE.

However, there is little likelihood the housing sector will escape another difficult year, even though 2011 is expected to bring some improvement. Housing activity will only see incremental improvement even though it has improved from the 2009 lows.

California, which had the second highest unemployment rate in the country in 2010 at 12.5 percent, will see employment growth in 2011. However, much like the national picture, California’s jobless rate will remain relatively high, with the LAEDC forecasting an average unemployment rate of 12.1 percent this year and the rate coming down to 11.5 percent by next year.

“We project that the California and U.S. economies will grow moderately in 2011 and 2012,” said Sidhu. “But the recession was so deep, 2011 won’t feel all that good despite improvements in most industries. However, the state is headed in the right direction, and the economy will seem even better by 2012.”

First-time US Japan Study released by LAEDC today. (LAEDC image)

Growing Together report highlights L.A. County’s personal and economic ties with Japan


The LAEDC also released a separate, new report, “Growing Together – Japan and Los Angeles County”. The report describes many of the close ties that have developed between Los Angeles County and Japan, the number one source of foreign direct investment into L.A. County.

U.S. – Japan trade has increased dramatically over the past 50 years jumping from $3.2 billion to $211 billion at its peak in 2000. Japan is the second largest trading partner of the Los Angeles Customs District with the ports of Los Angeles and Long Beach together handling nearly 25 percent of total trade between Japan and the U.S.

The report also documents the growing importance of foreign direct investment in this relationship, reviewing both investments made by Los Angeles area business firms in Japan and Japanese investments in Los Angeles County.

To discuss their investments made in the region, the LAEDC’s Economic Forecast event held at the Los Angeles Marriott on Feb. 16 features a panel of speakers from well-known Japanese companies. Representatives from Honda Motors, Union Bank and Yakult, makers of probiotic beverages, will discuss the significant impact of Japanese companies on the L.A. County economy.

For the full story  of the Forecast & Industry Outlook and  the first-time LAEDC  report Growing Together – Japan and Los Angeles County.

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Valley Business Expo ’10 Explodes with business opportunties

30 01 2010
Hundreds of Business Owners and Government Representatives Packed into The Valley Busines Expo’10 at the Pickwick Gardens Conference Center

By George S. Mc Quade III

A business to business expos put on by The Valley Economic Alliance attracted huge crowd this week in Burbank. There were a half dozen business workshops sessions, one every hour from mid morning until 5 p.m to help small and large business owners get the edge in this down economy.

“This is an incredible business expo and it is the best thing for any business owner,” said M C Townsend, Regional Black Chamber of Commerce, San Fernando Valley.  “We service more than 35 cities and we have our business member taking turns working our display table. Access and visabililty are key. Networking is ultimate resource for businesses and the chamber is trying to provide that.”

M C Townsend  – Regional Black Chamber of Commerce San Fernando Valley

“I can not agree more  with MC Townsend.  Visibility is so important today with the new media environment, that any business no matter how big or small it is, must to pay attention to  the changes that are coming so fast,” explained  Aida Mayo, president, MAYO Communications, who attended the Valley Business Expo ’10. “For a public relations professional, understanding the role and how to utilize the social  media channels, becomes essential in any publicity campaign.”

Aida Mayo

Mayo notes that a website, nice brochure, and exhibit booth are not enough to get your brand out there. “I was surprised to see how many companies at this event I talk to, do not  make publicity part of their marketing efforts,” she said.

“Whatever the needs are – increasing sales, attracting new partners or investors, creating a brand for a start-up, reaching potential donors, educating, or outreach – publicity is the best  approach to obtain visibility today.  It is the most cost-effective way to create brand recognition for your company. The longer you wait, the deeper you bury your business.”

Some of the exhibits included Ultra Glass, VICA, LAEDC, Metropolitan Water of Southern California, The Gas Company, The Governor’s General Services Dept., The Valley Economic Alliance, Weyant Enterprises, City of Burbank, City of Glendale, Pierce College, SOI, Pickwick Gardens (events planner), Santa Clarita Valley Economic Alliance and the Port of Los Angeles.

Greg Krikorian
Business Life Magazine

It was everything you wanted to know about doing business in the San Fernando Valley.

The next big Economic event comes Feb. 17, 2010 at the Los Angeles Marriott in downtown Los Angeles, put on by the Los Angeles County Economic Development Corporation (LAEDC).

To create a buzz for your business visit: MAYO Communications & MAYO PR, Los Angeles Public Relations Firm at

For the latest business news in the valley visit the website of