On May 21, Angelenos will have the opportunity to elect a new mayor, along with a city attorney, city controller and several City Council members. The importance of this election cannot be overstated.
It is generally well known that City Hall shapes tax, regulatory and land-use policies and provides oversight and appointment powers over numerous commissions, departments, agencies and the civil workforce. What many may not know is that it also owns economic assets that are responsible for a large portion of the region’s workforce and overall economic horsepower: LAX, the Port of Los Angeles, the Convention Center and the Department of Water and Power.
Since 1980, the city has added 1 million residents but lost 165,000 net jobs. Los Angeles’ unemployment rate stands at 11.4%, well above the state and national average.
The full piece can be found here.
Russell Goldsmith, Chairman and CEO of City National Bank and Michael Kelly, Executive Director for The Los Angeles Coalition for the Economy & Jobs