Tag Archives: GDP

LA County’s Successful Businesses

When it comes to talk of startup businesses in the California region, the two words that usually come to mind are Silicon Valley.  But actually when we take a look at the numbers (from the Bureau of Labor Statistics) we find a staggering $656 billion in GDP (27 percent of California’s economic output) that in 2015 came from LA County!

In manufacturing, 341,000 jobs were generated (with close to $25 billion in 2017 wages).  LA boasts the second largest economy and right now – vis-à-vis GDP per capita, global trade and transportation, home prices, municipal debt, corporate equity and jobs – it is doing better than the largest and the third largest (New York and Chicago respectively). So with all of these variables, LA is faring really well.

Homelessness is a synonym often associated with LA but even that seems to not be as bad; in fact in 2018 it actually receded quite significantly.