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Los Angeles, CA, United States, 2008/10/22 - Los Angeles County Economic Development Council wins International Economic Development Council Award for its Business retention and expansion efforts.
The Los Angeles County Economic Development Corporation (LAEDC) was selected as a winner for the 2008 Excellence in Economic Development Awards by the International Economic Development Council (IEDC) for the Business Retention and Expansion category.
These prestigious awards honor organizations and individuals for their efforts in creating positive change in urban, suburban, and rural communities. The IEDC’s Business Retention and Expansion (BRE) category was created this year to honor economic development initiatives that focus on retaining and growing existing businesses within communities and regions. The award recognizes effective, innovative BRE programs or initiatives which have been established for a minimum of three years.
The LAEDC was selected as a winner in the 200,000+ population category for its achievements in retention and expansion. A local graphic design and advertising company located in Long Beach, California was threatening to relocate out of Los Angeles County due to insufficient parking for its business. The LAEDC Business Assistance team worked closely with the City of Long Beach Economic Development Bureau, Planning Department and Building and Safety Department to mitigate the parking permit issue in record time. The result: the parking permit issue was resolved in record time and the company with 180 jobs and $8.8 million in annual sales was retained in Los Angeles County.
A large fresh produce provider, located in Irwindale, California is another LAEDC success story. They are a market leader in the supply of fresh-cut produce to retail grocery chains, mass merchandisers and foodservice organizations throughout North America with five million pounds of fresh-cut salad mixes and other produce packaged and shipped weekly. They encountered local traffic issues and difficulties obtaining proper permits in a timely fashion. The Result: LAEDC leveraged its influence with Los Angeles County authorities to expedite the issuance of relevant permits for fruit production and major traffic assistance, retaining 1,800 jobs and $437 million in annual sales.
In the fiscal year ended March 31, 2008, the LAEDC celebrated three key milestones. The economic impact on Los Angeles County from LAEDC’s Business Assistance programs exceeded $6 billion from first-year wages, local government tax receipts crossed the $100 million mark, and LAEDC served its 1,000h client.
“We are honored to receive this prestigious award,” said Bill Allen LAEDC president and CEO. “The LAEDC serves its 88 cities and more than 100 unincorporated communities throughout Los Angeles County by providing free business assistance to help companies throughout the region grow and prosper.”
For the full story and more about LAEDC visit the first link below.