LAEDC Names El Segundo as the
“Most
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2006 Eddy Awards also go to City National Bank and
for five decades of business leadership in
El Segundo
was selected by a blue-ribbon panel of judges, comprised of regional economic
development leaders from a distinguished list of five finalists (which also
included Burbank, Lancaster, Long Beach and Santa Clarita) from the 88 cities
of LA County for its commitment to attracting and retaining high quality jobs
for its residents and the region.
“In today’s fiercely
competitive global economy, we need to be aggressive in both attracting and
retaining quality jobs for our region,” said LAEDC President and CEO,
El Segundo has
the highest concentration of Fortune 500 firms of any city in Los Angeles
County, a remarkable feat for a small beach city just over five square miles
in size. El Segundo boasts a ratio
of one business license for every three residents, and their average time
to process a license is less than twenty four hours. Their proximity
to LAX and major freeways, and their policies to recruit and retain businesses
are a significant factor in the economic success of the city. The city
also has some of the lowest utility and transient occupancy tax rates in the
County. As a result, El Segundo is where 85,000 people
work for many of the nation's best companies. Computer Sciences, Continental Development Corp.,
DirecTV Group, and Mattel all make their headquarters in El Segundo. The LA Air Force Base partners with Aerospace
Corporation on $60 billion in contracts, creating over 50,000 jobs. Chevron-Texaco, which founded the city nearly
90 years ago, runs the largest oil refinery on the West Coast.
"We are thrilled to be
the first city LAEDC has honored with this award," said El Segundo Mayor
Kelly
McDowell. "We have always believed that the El
Segundo community sets standards of excellence in
service and quality of life
that are second to none. And special
recognition to my council colleagues, our
city staff and the people who
live and work here, who transform our vision into reality every day."
This award is highly significant
today because over the past 25 years, the County of Los Angeles has added
more than 2.5 million residents, but only about half a million jobs.
Some cities in the County have actually lost jobs in that period, while others
have added many new jobs. Much of the reason for that disparity is that
many cities are substantially more proactive than others about attracting
and retaining quality jobs that pay good salaries and generate healthy tax
revenues. A more business-friendly climate in each of our local
cities will be needed to ensure that LA County meets its growing population’s
need for an array of good jobs that contribute to the economic well being
of the region and provide the personal income (and municipal tax base) that
sustains the quality of life for all Angelenos.
This year’s
Eddy Awards also honored City National Bank and
About the LAEDC
The LAEDC, the region’s premier
business leadership organization, is a private, non-profit organization
established in 1981 with a mission to attract, retain, and grow business and
jobs in
The Eddy Awards were introduced by the LAEDC in 1996 to celebrate
individuals and organizations that demonstrate exceptional contributions to
positive economic development in the region.
This year, we are celebrating the 25th Anniversary of the
LAEDC, as well as introducing the “
Past Eddy honorees include:
Richard Ziman,
Arden Realty ♦ Janice Bryant Howroyd, Act1
♦ Liam McGee, Bank of America ♦
Monica Lozano, La Opinión ♦ George
Deukmejian, 35th Governor of California ♦ Eli Broad, The Broad Foundation ♦ Tim Leiweke, Anschutz Entertainment Group
♦ Cardinal Roger Mahony, Archdiocese of Los
Angeles ♦ James Thomas, Thomas
Properties Group ♦ Michael
Antonovich, LA County Supervisor ♦
David Baltimore, CALTECH ♦ Richard
Riordan, Former LA Mayor ♦ Steven
Sample, USC ♦ George Graziadio,
Imperial Bank ♦ Beverly O’Neill,
Former Long Beach Mayor ♦ Ed Roski,
Majestic Realty Co. ♦ John Bryson, Edison International & So Cal
Edison ♦ R. Thomas Decker, Bank of
America.
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