LAEDC Support State Budget Compromise

LAEDC Offices Downtown LA

LAEDC Applauds Key Economic Stimulus Proposals in Proposed State Budget
Compromise

Los Angeles—The Los Angeles County Economic Development Corporation (LAEDC) commends Governor Schwarzenegger and key state lawmakers for negotiating an economic stimulus package within their proposed state budget compromise that takes urgent and very important steps to help create jobs and provide a much needed boost to our state’s economy during these extremely difficult and unstable economic times. In particular, the LAEDC supports and encourages the final adoption of the stimulus proposals to:

§ Incentivize California-based companies creating jobs for Californians

§ Ease restrictions to public private partnerships and provide “design-build” authority for select transportation and local redevelopment projects to create more jobs more quickly

§ Streamline the permitting and review process and confer CEQA exemptions for surplus state property and certain transportation projects through 2010 to pump money into the economy faster

§ Offer greater flexibility to employees and employers in shaping work schedules to make California’s business environment more competitive

§ Provide targeted tax incentives to help lure television and film production back to California.

About the LAEDC

The LAEDC, the region’s premier business leadership organization, is a private, non-profit organization established in 1981 under section 501(C) (3). Its mission is to attract, retain, and grow business and jobs for the regions of Los Angeles County. Since 1996, the LAEDC has helped retain or attract more than 147,700 jobs, providing $7.3 billion in direct economic impact from salaries and $124 million in annual tax revenue benefit to local governments and education in Los Angeles County. Visit www.laedc.org or call (888) 4-LAEDC-1.

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