The median household income in the City of Long Beach grew by 10.1 percent between 2015 and 2016, making it the 11th largest increase among the nation’s 100 largest cities in a recent report from SmartAsset. Data used for the report was taken from the United States Census Bureau, American Community Survey.
“The local economy in Long Beach is booming which is why household incomes are increasing faster than in most cities,” said Mayor Robert Garcia. “We have focused on smart economic policies that have created new businesses, thousands of good jobs, and economic opportunity for all people.”
In September, the City was named a finalist for Most Business Friendly City in Los Angeles County, an annual award bestowed by the Los Angeles County Economic Development Corporation, and the second time this year that Long Beach has been recognized as one of the most business friendly cities. In 2016, the business community itself recognized the City of Long Beach as one of the five most business friendly cities in Los Angeles County, according to the Los Angeles County Business Federation (BizFed), an alliance of 150 business groups representing 272,000 companies that employ nearly three million people throughout the County.
City leaders have also been working on plans to build on recent economic successes. In response to a request by Mayor Robert Garcia and the City Council, the Economic Development Commission, an advisory group to the City Council, in collaboration with the Economic Development Department, prepared a Draft Blueprint for Economic Development (Blueprint). The Blueprint provides a snapshot of economic trends in the City, and makes recommendations to the Mayor and City Council about opportunities for growth in key industries, business assistance, and economic inclusion among other focus areas.
“The Blueprint has been a terrific resource for us,” said John Keisler, Director of the Department of Economic Development. “We now have a plan to increase economic opportunities for workers, investors, and entrepreneurs.”
For more information about workforce training programs and incentives for businesses to hire new workers, the City offers a number of innovative programs at the Pacific Gateway Workforce Investment Network.
About Economic Development
The mission of the City’s Economic Development Department is to create economic opportunities for workers, investors, and entrepreneurs. This includes making it easier to start and grow a business, streamline the process for property development, and provide businesses with a skilled workforce. The Department includes Property Development, Business Development, and the Pacific Gateway Workforce Investment Network. For more information on the Economic & Property Development Department, please visit http://www.longbeach.gov/economicdevelopment/ or follow us on Twitter @LBEconDev and Facebook.