Tag Archives: DMF Lighting

Los Angeles: Job Creation Firms

airportLAX has always been great for the economy of Los Angeles.  But a recent report by the Los Angeles County Economic Development Corporation (LAEDC) has shown that it has created 620,610 local jobs.  In addition, with its continuing capital-improvement program, each year it is anticipated that it will generate 121,640 jobs.  As Mayor Eric Garcetti enthused: “LAX is powering an economic resurgence across our city, and we are investing billions to make it even stronger. The LAEDC report confirms that this generational investment in our airport is paying off with hundreds of thousands of jobs for Angelenos and billions added to our local economy.”

Generating many jobs is also good for the actual company, vis-à-vis tax credits.  Indeed, last year, the Governor’s Office of Business and Economic Development awarded various companies with state tax credits for their efforts in this area. Some of these were:

  1. Katie May (wedding designer)
  2. Boom! Payments Inc. (electronic payments provider)
  3. Center Corp. (healthcare IT firm)
  4. Planet Earth Los Angeles (recycled packaging maker)
  5. DMF Lighting (Custom Lighting Supplier)
  6. Pacific Steel Group (steel reinforcement supplier)
  7. NerdWallet Inc. (online personal financial services)
  8. CreditKarma Inc. (online personal financial services)
  9. International Business Machines Corporation (IT services)
  10. CHC Consulting LLC (Engineering and Telecommunications services)
  11. Cerner Corporation (Healthcare IT and Revenue Management)
  12. Orbital ATK Inc. (Aerospace Component Manufacturing)
  13. Stripe Inc. (Online Payment Processing)
  14. TriWest Healthcare Alliance Corp (healthcare admin)
  15. FineLite Inc.

Activity from LAX generated $37.3 billion in labor income, $126.6 billion in business revenues state and local taxes: $6.2 billion and $8.7 billion in federal tax revenues in 2016. And as for the LAX Modernization Program (that is due to be completed by 2023), a further 121,640 jobs per year will be created.