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Economic and Policy Analysis Group
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Selected LAEDC Analysis Group Reports and Studies Featured report: "Annual Operations of Los Angeles County Metropolitan Transportation Authority FY 2009-10 - Economic Impact Study"
Economic Impact Studies | Industry Studies | Issue Studies | Transportation StudiesEconomic Development Strategies | Job Retention and Attraction | New Developments
Latest ReportsThese reports and studies are produced by the LAEDC Anaylsis Group. All available reports are in PDF format. The Los Angeles County Metropolitan Transportation Authority (Metro) is a large, complex organization that is involved with all aspects of moving people and goods throughout the Southern California region. In this report, we estimate the economic and fiscal impact of Metro operations and of expenditures funded through subsidies to other transportation services for the fiscal year ending June 30, 2010. We find that Metro’s operations and subsidies supported more than 51,000 jobs in Southern California alone, and another 10,000 jobs nationwide. City of Los Angeles WIB Layoff Aversion Program - Economic Impact Study A Layoff Aversion Program for the Los Angeles City Workforce Investment Board (WIB) has been implemented over the past year by the Los Angeles County Economic Development Corporation (LAEDC) and its partners, resulting in the retention of 3,503 jobs for at-risk businesses in the City WIB Service Delivery Area (SDA). In this report, the Economic and Policy Analysis Group of the LAEDC (formerly the Consulting Practice) performs an analysis of the success and overall benefit of the City of LA WIB Layoff Aversion Program in four steps, as described below. The Greening of the Los Angeles Economy The Greening of the Los Angeles County Economy report, commissioned in 2008 by the U.S. Economic Development Administration and conducted by the LAEDC, examines the Los Angeles region’s $500 billion economy with the goal of evaluating the challenges and opportunities that arise from greening the economy. The focus on Los Angeles County includes an analysis of the region’s overall greening potential to determine those areas where job creation is most promising and where a leadership position by the county business community is immediately visible. California Film and Television Tax Credit Program - An Economic Impact Study In this study, the LAEDC Economic and Policy Analysis Group examines the economic implications of the California Film and Television Tax Credit program. An explanation of the methodology, key assumptions and a description of industry sectors can be found in the Appendix. LAEDC Releases LAX Airfield and Terminal Construction Projects Report The economic impact of the Bradley West & Related Projects and CTA construction programs at LAX spills across industries in Los Angeles County through indirect and induced effects. The exhibit below shows impacts by industry sector due to initial construction spending. The Next Decade: Industries and Occupations for the Los Angeles Workforce The study, commissioned by the City of Los Angeles Workforce Investment Board (WIB), provides an industry cluster analysis for the Los Angeles County. California Oil and Gas Production Industry State Regulatory Delays Delays in the approval of permits in the oil and gas production industry in California are holding up an estimated $1 billion in capital investment in oil and gas field redevelopment for an average of approximately one year. The investment in drilling, pipelines and other production-related facilities would create considerable economic activity in California, even after discounting the money that would be spent on materials purchased from manufacturers located outside the state.
Economic Impact StudiesThe LAEDC Analysis Group estimates the direct and indirect economic output (business revenues), jobs and wages associated with organizations (UCLA, MTA); activities (motion picture production, overseas flights at LAX); and even cities (City of Vernon). We also estimate the associated federal, state, and local tax revenues. The LAEDC uses a customized model based on RIMS II (Regional Input-Output Modeling System) multipliers developed by the US Department of Commerce, Bureau of Economic Analysis. City of Los Angeles WIB Layoff Aversion Program - Economic Impact Study A Layoff Aversion Program for the Los Angeles City Workforce Investment Board (WIB) has been implemented over the past year by the Los Angeles County Economic Development Corporation (LAEDC) and its partners, resulting in the retention of 3,503 jobs for at-risk businesses in the City WIB Service Delivery Area (SDA). In this report, the Economic and Policy Analysis Group of the LAEDC (formerly the Consulting Practice) performs an analysis of the success and overall benefit of the City of LA WIB Layoff Aversion Program in four steps, as described below. California Oil and Gas Production Industry State Regulatory Delays Delays in the approval of permits in the oil and gas production industry in California are holding up an estimated $1 billion in capital investment in oil and gas field redevelopment for an average of approximately one year. The investment in drilling, pipelines and other production-related facilities would create considerable economic activity in California, even after discounting the money that would be spent on materials purchased from manufacturers located outside the state. Central Basin Municipal Water District Water (CBMWD) Water Reliability Project Construction Impact The CBMWD is building the
Southeast Water Reliability Project (SWRP) as part of its effort to reduce overall dependence on imported water from Northern California and
the Colorado River. The 15-mile long pipeline will enhance CBMWD’s ability to deliver The Construction Impact of Metro's Measure R Transportation Projects 2009-2038 The Los Angeles County Metropolitan Transportation Authority (Metro) has proposed a series of transportation improvement projects in Los Angeles County to be funded through tax revenues generated from the voter-approved Measure R increase in sales taxes. The LAEDC has estimated the economic impact of $34.7 billion of these construction projects. Metro Gold Line Foothill Extension Phase 2A Much of the impact of the construction of the Metro Gold Line Foothill Extension Phase 2A will occur in the construction industry, with more than one third of the total (direct, indirect and induced) employment generated by the program and more than 40 percent of the earnings. However, other industries are also significantly impacted, including: professional and scientific services; retail trade; accommodations and food services; and manufacturing. Economic Impact of Ansaldobreda in Los Angeles AnsaldoBreda, an Italian railway vehicle manufacturer, is proposing to build a manufacturing facility of light and heavy railcars in the city of Los Angeles, and to move its American corporate headquarters to the same site. March 2009. Construction Impact of LA Metro's Proposed Transportation Projects, 2009-2038. The LAEDC has estimated the economic impact related to the construction of $16.5 billion in projects that will be funded by the proposed use of sales tax increase. Completion date: June 2008. Sources of Sales Tax Revenue Collected in LA County The LAEDC estimated the sources of sales tax revenue in LA County based on the type of party paying the sales tax. Specifically, we divided total taxable sales and correpsonding sales tax payments in LA County into three categories--purchase by residents, tourists, and businesses. Completion date: June 2008. A Regional Economic Engine: The Economic Contribution of UCLA The LAEDC analyzed UCLA’s interactions with the regional economy, including: payments of wages and salaries, purchases of goods and services, construction, student spending and visitor spending. For each activity, LAEDC estimated the regional and statewide economic output, employment, wages and tax impacts of UCLA-related spending. The LAEDC has estimated UCLA’s economic impact three times, covering fiscal years 1999-2000, 2002-2003, and 2005-2006. Completion dates: April 2007, April 2004 and October 2001. Biomedical Research as an Economic Engine: The Contributions of the Los Angeles BioMedical Research Institute to the LA and Orange County Economies The LAEDC estimated the total business revenues, jobs, wages, and tax revenues in Los Angeles and Orange counties that are associated with ongoing operations of LA BioMed. We also estimated the economic and tax revenue impacts of LA BioMed’s construction program. Separately, we investigated the impact of four spin-off companies whose business plans rest wholly or in part on research and technology developed at LA BioMed. Completion date: February 2007 The LAEDC assessed the economic impact of Los Angeles World Airports’ (LAWA) post-9/11 film-friendly policy. We estimated the total jobs, wages, and economic output generated by film crews working on location at LAWA properties during the four years, 2002 to 2005. We also estimated the City of Los Angeles’ share of sales tax revenue attributable to the film-related activity. Completion date: December 2006 Peer Review of “Newhall Ranch Westside Communities Fiscal Impact Analysis” by Alan D. Kotin & Assoc. and CB Richard Ellis Consulting Newhall Land hired ADK&A and CBRE to prepare a study of the net fiscal impact of a major proposed development on LA County, and then hired the LAEDC to peer review the study. The LAEDC brought in two experts from outside Southern California, Dr. Rajeev Dhawan, Director of Economic Forecasting at Georgia State University and Dr. Sean Randolph, President of the Bay Area Economic Forum, and together we considered the study methodology, and scrutinized all of the major assumptions underpinning the analysis. Completion date: November 2006 The Downtown Los Angeles Renaissance The LAEDC assessed the economic impact of all the new construction and adaptive reuse projects in downtown Los Angeles since 1999 for the Downtown Center Business Improvement District (DCBID). We analyzed the economic and revenue impacts of three components of the downtown renaissance: the one-time activity associated with construction; the ongoing annual activity related to the residents and commercial tenants who occupy the newly developed space; and a snapshot look at visitors to downtown in 2005. Completion date: February 2006 Breeders’ Cup Economic Impact Study Oak Tree Racing Association hired the LAEDC to determine the economic impact of the 2003 Breeders’ Cup World Thoroughbred Championships at Santa Anita Park in Arcadia, California. We estimated the incremental increase in total economic output, employment and local taxes generated by the spending of spectators, participants, media, organizers, and hosts. Completion date: April 2003. Vernon Economic Impact Report Vernon is an industrial city located in Los Angeles County with just 95 residents but over 1,400 business establishments. The LAEDC estimated the economic impact of all the firms doing business in Vernon on the rest of the county. We prepared separate estimates for the biggest industries operating in Vernon, construction projects under way in the city, and the activities of the city’s government. In addition, we reported survey data on where employees of Vernon’s firms live. We have prepared this study two times. Completion dates: December 2002 and December 2007. Special Event Impacts The LAEDC designed a template that allows the Entertainment Industry Development Corporation (EIDC) to estimate the economic and fiscal impact of entertainment events such as the Oscars on the City of Los Angeles. Completion date: August 2002.
Industry StudiesThe LAEDC studies trends, prepares near-term and long-range forecasts, provides industry snapshots, and prepares in-depth analyses for specific sectors of the economy to suit client needs. Examples include industry forecasts for the City of Los Angeles Business Tax Advisory Committee; a hospital industry snapshot for the Hospital Association of Southern California; an in-depth look at long-term patterns in housing demand and supply for the Building Industry Association of Los Angeles and Ventura Counties; and a close look at fashion for the Los Angeles Fashion District. Public Relations Agencies in Los Angeles County In 2008, the public relations industry in Los Angeles County comprised 445 establishments with 3,030 payroll employees and at least 731 self-employed individuals. Together, we estimate that total employment in the industry was 3,761. The average annual wage in 2008 was $78,129, approximately 50 percent higher than the average annual wage of all workers in Los Angeles County. The Economic & Demographic Trends Driving Residential Construction in Las Vegas, Miami, San Diego & Los Angeles The LAEDC provided a high-level overview of the demographic and economic trends driving multi-family residential construction in three U.S. metropolitan areas—San Diego, California; Miami, Florida, and Las Vegas (really Clark County), Nevada—and then compared them with each other and with Los Angeles. The statistical findings and analysis were exhibited in four separate sections (economic trends, demographic trends, multi-family construction and development trends and further considerations), one for each area. Completion date: March 2007 Beyond the Trends: The Economic Contributions of The Los Angeles Fashion District The LAEDC and Economics Research Associates (ERA) conducted this study for the Los Angeles Fashion District (the BID). We provided benchmark measures of the District’s business community, including the number of firms, employees and estimated business revenues. We estimated the District’s impact on the Los Angeles economy, looking both at typical “everyday” activities, and at Market Weeks. Completion date: November 2006 The Hospital Association of Southern California (HASC) hired the LAEDC to assess the economic impact of all the hospitals in Southern California. The study quantified the economic output, jobs, wages, and state taxes generated by hospitals and hospital related businesses separately for six counties of Southern California (including Santa Barbara) and jointly for the region as a whole. We also estimated the considerable economic impact of hospital construction spurred by the twin pressures of state seismic upgrade regulations and rapid population growth. Completion date: March 2006 Follow-up Hospital Economic Impact Studies The LAEDC customized its “Hidden in Plain Sight” to estimate the economic output, jobs, wages and state taxes generated by individual hospitals and their related services. Our clients included: Cedar Sinai Medical Center, UCI Medical Center, Little Company of Mary Torrance and San Pedro Hospitals, Presbyterian Intercommunity Hospital, Valley Health System and Lancaster Community Hospital, among others. Completion dates: 2006-2007 Greater Los Angeles Economic Environment and Industry Report The LAEDC was hired by a financial services firm to assess the regional economic environment. We described the salient characteristics of the Los Angeles area economy, outlined the most important challenges, and provided a six-year forecast. Separately, we prepared an Industry Focus Report evaluating the most important industry sectors in the region. Completion date: September 2005 Analysis of LA LDC Bank’s Low Income Investment Areas The LAEDC prepared industry profiles for 12 designated investment areas in Los Angeles and Orange County to guide the LA Local Development Corporation Bank’s future lending strategies. The profiles described clusters in technology, apparel & textiles, fabricated metals, furniture, automobile parts, jewelry, and toys. They also evaluated trends and opportunities in food processing, retail, commercial real estate, and community buildings. Completion date: August 2002
Issue StudiesThe LAEDC provides timely economic and policy analysis on key issues addressing such questions as: What are the implications of meeting the AB 32 targets for greenhouse gas reductions? Will California have enough crude oil? How can Southern California ensure a reliable water supply? What is the cost to the LA economy of counterfeit goods? The LAEDC evaluated the potential impacts of the amended on-premises signage restrictions primarily based on economic theory. April 2009. Where Will We Get The Water? Assessing Southern California's Future Water Strategies A report evaluating strategies for improving Southern California's water supply based on cost-effectiveness, environmental impact and overall efficacy. July 2008. Securing Reliable Water Supplies for Southern California The LAEDC prepared this study for the Future Issues Committee of the Southern California Leadership Council. We looked at the sources and reliability of the region’s water supplies. We concluded that Southern California’s three major sources of imported water are all under pressure from population growth, climate change, and the needs of environmental protection and habitat restoration. The Bay-Delta in particular is in crisis. There is a once-in-a-generation opportunity to restore and protect the Delta, actions that would help secure water supplies for Southern California. Completion date: January 2008. The AB 32 Challenge: Reducing California’s Greenhouse Gas Emissions Under AB 32, the state will attempt to lower its emissions of greenhouse gases to 1990 levels by 2020, and 80% below that threshold by 2050. California’s growing population makes these ambitious targets, particularly the latter, which will likely require a reshaping of everyday life. This study, prepared for the Future Issues Committee of the Southern California Leadership Council, is a primer on greenhouse gases, how the state will pursue reductions and the likely consequences for the state economy. Completion date: January 2008. California’s Uncertain Crude Oil Future The LAEDC reviewed long-term trends in crude oil and transportation fuel consumption and supply in California. The interaction between rising demand and declining domestic supplies will require the state to import considerably more crude oil. The most economic way to do so is via terminals with deep-water berths. We also highlighted the most oil-intensive industries in California, which have the greatest likelihood of being impacted by these higher oil prices. The LAEDC has prepared this study two times. Completion dates: May 2005 and January 2008. Business Tax Reform Study LAEDC prepared a long-term analysis and forecast of Los Angeles industries for the public-private Business Tax Advisory Committee (BTAC). The committee was seeking to identify the sectors most likely to grow and to prosper in the City of Los Angeles in order to target business tax reforms and reductions. We also prepared estimates of potential gains in target industry employment, local wages and salaries, as well as associated government tax revenues. The LAEDC has prepared this study twice, substantially revising its initial forecasts to account for the changing fortunes of the high-tech, defense, and apparel industries. Completion dates: March 2001 and December 2003.
Transportation StudiesSince its inception, the LAEDC Analysis Group has had an emphasis on transportation projects, particularly those related to goods movement. The LAEDC has prepared numerous studies looking at the jobs and taxes related to international trade moving through the region for clients including the Southern California Association of Governments, the Ports of Los Angeles and Long Beach, the Alameda Corridor Transportation Authority, the Alameda Corridor East Construction Authority, and the 5 Southern California transportation authorities. Most recently, the LAEDC prepared the economic analysis supporting the Southern California Consensus Group application for Proposition 1B Trade Corridor Improvement Funds. Southern California Consensus Group TCIF Application The Southern California Consensus Group – the Alameda Corridor East Construction Authority, the Alameda Corridor Transportation Authority, LA Metro, Metrolink, the Orange County Transportation Authority, the Ports of Hueneme, Los Angeles, and Long Beach, the Riverside County Transportation Commission, San Bernardino Association of Governments, the Southern California Association of Governments, and the Ventura County Transportation Commission – applied to the California Transportation Commission for funding under the Trade Corridor Improvement Funds portion of Proposition 1B. The LAEDC prepared the economic assessment supporting their applications. We estimated the statewide, one-time economic impact of building the 53 projects, and forecast the growth in employment and taxes that can be expected if Southern California makes the investments required to handle additional international trade efficiently and cleanly. Completion date: January 2008. LA Metro Studies The LAEDC has conducted a series of studies for Metro, including (1) co-hosting a forum focused on the regional economic outlook and infrastructure issues; (2) developing a set of guiding economic principles to connect infrastructure funding with economic growth; (3) an estimate of Metro’s impact on the Los Angeles regional economy; (4) an estimate of the economic impact of the October 2003 strike; and (5) an analysis of SCAG population and employment forecasts for Los Angeles County. Completion dates: 2002-2006. Economic Impact of Homeland Security on Trade Rail Corridors The LAEDC and RAND Corporation determined the local and national economic impacts of homeland security incidents on trade mobility through communities along national freight rail corridors. We identified the possible national and local economic impacts of terrorism attacks, sudden crises, as well as the long-term effect of such incidents on growth. Completion date: August 2003. OnTrac Trade Impact Study The LAEDC collaborated with BST Associates in their efforts to estimate the dollar value of two-way international trade moving between the Ports of Los Angeles and Long Beach and the rest of the United States via the Alameda Corridor East in year 2000. (The Alameda Corridor East includes the BNSF rail line through northern Orange County, and the UP lines through the San Gabriel Valley.) Two-way trade values were determined by state, region and congressional district. Completion date: July 2002. Los Angeles Inland Mainline Rail Study The LAEDC gathered a team of experts for this Southern California Association of Governments (SCAG)-sponsored study of the rail network between the Alameda Corridor and the Colton Crossing in San Bernardino County. The study included forecasts of container and intermodal traffic; detailed simulations of rail network traffic; and a checklist of improvements required to avoid rail network gridlock in the near future. Completion date: June 2002. Intermodal Facility Capacity in the LA Basin The LAEDC assessed the intermodal facilities in the Los Angeles Basin operated by the two mainline railroad companies, Burlington Northern & Santa Fe and Union Pacific. We compared the remaining capacity with our forecasts of international trade and container traffic to 2020 and identified how many years remained until the rail transportation infrastructure of the region would be stressed to the limit. Completion date: May 2002 Southern California Freight Management Case Study The Southern California Freight Management Case Study was one of five regional studies conducted across the country at the behest of the Office of Freight Management and Operations of the Federal Highways Administration. Metro, the Southern California Association of Governments, and the California Department of Transportation gathered data for the report, but turned to the LAEDC to provide the broader regional context of goods movement in Southern California. LAEDC organized and analyzed the data, highlighted key trends, and wrote the freight management report. Completion date: February 2002; revised September 2002. Alameda Corridor East Transportation Project (AB2928) Mandated by the California legislature, this project was a key step in developing a regional strategy in response to surging growth in international trade through the San Pedro Bay ports. The LAEDC prepared 20-year forecasts of international trade-related rail and truck traffic, as well as population and employment growth in the 5-county region. We projected the impact of the expected growth in trade-related traffic on regional mobility and assisted in the development of a plan to reduce conflicts between the region’s rail and highway transportation systems. We then estimated the economic benefits to the region, the state, and the nation of implementing the plan. Completion date: April 2001. AB 1012 Study of Advanced Transportation Project Development AB 1012 created a mandate to accelerate the development and delivery of state and local transportation projects and make more efficient use of funds. The State of California, Business, Transportation, and Housing Department asked the LAEDC to work with its team to improve the Caltrans project management system and transportation funding process for all California transportation projects. We worked with many interest groups and Caltrans Directors to develop an efficient approach to managing multi-million dollar projects. Completion date: March 2001. Orange County Gateway The LAEDC conducted a series of studies for this $300 million railroad-lowering project in northern Orange County. We started with a cost-benefit analysis of the project, followed by studies supporting the financing strategy and community outreach programs. Other project elements included project management; grant writing, federal, state, and local agency and legislative education; community redevelopment; asset development; and coalition building. Completion dates: 1999-2004.
Economic Development StrategiesThe LAEDC provides cities with sensible analysis and recommendations for economic development. The process starts with an in-depth economic scan, which brings together data on relevant economic, demographic and fiscal trends. Next, the LAEDC prepares a traditional SWOT analysis (covering Strengths, Weaknesses, Opportunities, and Threats) that it uses to develop recommendations that match community aspirations with economic possibilities. El Monte, California Economic Scan The LAEDC prepared an economic assessment and recommendations for the City of El Monte. The purpose of the study was to provide in-depth economic and demographic data for the city; assess the city’s strengths and weaknesses; and formulate viable development recommendations. We prepared a comprehensive data book for the city, and then used the assembled information to a SWOT (Strengths, Weakness, Opportunities and Threats) analysis. Completion date: April 2007. City of West Hollywood Economic Development Strategy The LAEDC prepared an economic assessment and development strategy for the City of West Hollywood. The purpose of the study was to provide in-depth economic and demographic data for the city; assess the city’s strengths and weaknesses; and formulate viable development strategies. We prepared a comprehensive data book for the city, and conducted focus groups with business and communities leaders, city staff, and elected officials. We used the assembled information to prepare a SWOT (Strengths, Weakness, Opportunities and Threats) analysis and develop recommendations. Completion date: May 2005. San Pedro Waterfront & Promenade Master Development Plan LAEDC was a member of the consultant group led by EE&K/Gafcon that prepared a long-term Master Development Plan for the San Pedro section of the Port of Los Angeles. Our role was to: (1) analyze market opportunities and constraints for various types of development in the plan area; (2) estimate future lease and other revenues to the Port; (3) researched outside sources of funding; and (4) calculate the economic and fiscal impacts associated with building the proposed plan and annual impacts generated in the plan area after development. Completion date: August 2004 Northeast San Fernando Valley Study The LAEDC prepared an economic assessment and development strategy for the communities of Sylmar, Sun Valley, and Pacoima (parts of the City of Los Angeles). The purpose of the study was to identify the basic economic and demographic characteristics of the region, highlight its strengths and weaknesses, and formulate development strategies that will make the region more economically viable, attractive, and competitive in the future. We analyzed the region’s business base to assess what types of industries would be suitable candidates for locating in the communities, their workforce needs, and the types of amenities and social services likely to be in demand. Separately, we assessed the region’s transportation system and infrastructure and their capacity to meet the demands of future growth. Completion date: May 2003. Oldtown/Santa Fe District Retail Market Data Book The LAEDC prepared a comprehensive information resource, the Oldtown/Santa Fe District Retail Market Data Book, to aid the City of Placentia and prospective developers in formulating development strategies. The Data Book contained extensive information on the demographic composition, economic structure, and social characteristics of the immediate neighborhood as well as several retail trade areas radiating outward from the District. Also, the LAEDC carried out a retail leakage-capture analysis for Placentia and seven other cities in the North Orange County area. Completion date: September 2002.
Job Retention and AttractionThe Analysis Group periodically provides direct mission support to the LAEDC Business Assistance Program and the World Trade Center through pro bono economic impact analysis. Notably, an LAEDC study of the economic output, jobs, wages and taxes tied to the operations of the LA Air Force Base galvanized support for keeping the base among political leaders, including the governor. The Next Decade: Industries and Occupations for the Los Angeles Workforce The study, commissioned by the City of Los Angeles Workforce Investment Board (WIB), provides an industry cluster analysis for the Los Angeles County. Los Angeles Air Force Base Economic Impact Assessment The Los Angeles Air Force Base (LAAFB) houses and supports the headquarters of the Air Force’s Space and Missile Systems Center, which is responsible for the research, development and acquisition of military space systems. The LAEDC Consulting Practice assessed the job, wage, and tax implications of LAAFB’s operations on the greater Los Angeles area as well as the state. We used a “bill-of-goods” approach to calculate separately the economic impact of each major component of base-related spending. The report stressed the importance of keeping the base open due to its significant impacts on the Los Angeles economy. Completion date: November 2004
New DevelopmentsThe LAEDC estimates the future economic impact for major projects while they are still in the planning stages. Typically, such forecasts include the one-time business revenues, jobs, wages, and taxes associated with construction, as well as the ongoing impacts generated from normal operations once the projects are complete. Examples include the economic impact of the Standard Hotel, LNG projects at the Ports of Los Angeles and Long Beach, the Home Depot Center in Carson, and the Grand Avenue Project in downtown Los Angeles. The Economic Impact of the JPI Development at Highland and Yucca JPI California Development Services, LP proposed a mixed-use development for a 2.2-acre site at the southeast corner of the intersection of Highland Avenue and Yucca Street. JPI hired the LAEDC to examine the economic implications of the proposed development. Specifically, we assessed two issues. First, we considered the economic activity that will be generated by residents and business tenants of the new development. Next, we estimated the economic output (business revenues), jobs, wages, and tax revenues that will be created by construction of the project. We concluded with a brief discussion of the utility of building high density, mixed-use development along corridors served by mass transit. Completion date: September 2006 Crude Oil Marine Terminal at the Port of Los Angeles The LAEDC estimated the jobs, wages and tax revenues associated with construction and operation of the new crude oil marine terminal at Pier 400 in the Port of Los Angeles planned by Plains All American, LP (formerly Pacific Energy Partners, LP). The LAEDC has revised the economic impact statement several times to reflect increasing construction costs. Completion dates: May 2005, March 2007, February 2008. Grand Avenue Plan Economic Impact Study The LAEDC has twice estimated the economic and revenue impacts of the Grand Avenue Plan. We concentrated on the proposed new multi-use buildings along Grand Avenue and First Street. First, we “populated” these buildings with various types of tenants and then estimated: the annual revenues the building managers and business tenants would take in, household incomes of the buildings’ residents, the number of employees working in the buildings and for suppliers to business firms located in the buildings, annual wages and salaries earned by the direct and indirect workers, and the residents’ and workers’ annual spending for sales-taxable goods and services. We also calculated the annual tax revenues associated with these activities: personal income and Social Security taxes, sales taxes, property taxes, utility taxes, business, parking and hotel taxes. In addition, we estimated the one-time impacts associated with initial implementation of the entire Grand Avenue Plan, whose construction cost will exceed $1 billion. Completion dates: July 2002 & May 2005. Sound Energy Solutions LNG Terminal Economic Impact Study Sound Energy Solutions proposed a liquefied natural gas (LNG) terminal at the Port of Long Beach and hired the LAEDC to assess the economic and revenue impacts of operating and constructing the proposed terminal. In addition, we briefly assessed the environmental and consumer benefits the terminal would bring. The report also stressed the long-term benefits to the region and the state by diversifying the state’s potential sources of supply and increased competition among suppliers. Completion date: September 2004 San Pedro Waterfront & Promenade Master Development Plan LAEDC was a member of the consultant group led by EE&K/Gafcon that prepared a long-term Master Development Plan for the San Pedro section of the Port of Los Angeles. Our role was to: (1) analyze market opportunities and constraints for various types of development in the plan area; (2) estimate future lease and other revenues to the Port; (3) researched outside sources of funding; and (4) calculate the economic and fiscal impacts associated with building the proposed plan and annual impacts generated in the plan area after development. Completion date: August 2004 LAUSD Construction Bond Economic Impact Analysis The Los Angeles Unified School District undertook a mammoth $14 billion series of school construction, renovation, and repair programs stretching over 12 years. The LAEDC conducted a study for LAUSD Facilities Services Division examining the employment, wage, and tax implications of the major programs being conducted by its New Construction and Existing Facilities Branches. Completion date: February 2004 Home Depot Center Economic Impact Study Anschutz Entertainment Group (AEG) hired the LAEDC to determine the economic impact of the Home Depot Training Center, a sports training complex and stadium on the campus of California State University-Dominguez Hills in Carson, California. The home of the L.A. Galaxy, the Center includes venues for professional soccer, tennis, track and field, and cycling events, as well as training facilities for these and other sports. We estimated the economic activity in the regional economy related to the operation of the Center, including participant and spectator spending. Completion date: April 2003.
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