In a unanimous vote, the Long Beach City Council approved the City’s Draft Blueprint for Economic Development, an economic development guide for the next 10 years, during Tuesday’s weekly city council meeting.
Seeking additional feedback on ways to go about promoting economic development, the city is requesting resident input at upcoming economic development study sessions slated to occur throughout the next month.
Long Beach’s unemployment rate is at its lowest since May 2008, the city announced today, hitting 7.6 percent this past August, down from a peak of 14.6 percent unemployment in July 2010.
The unemployment rate in Long Beach has reached a seven-year low, dropping to 7.9 percent as of March 2015, according to a statement from the City of Long Beach released Tuesday.
More young and affluent people are continuing to move into Downtown Long Beach’s growing residential offerings, according to the Downtown Long Beach Associates 2014 Economic Profile released last month.
By Eric Gray | For a city our size with a high population and unemployment rate, it is troubling to me that we currently do not have an Economic Development Department. An Economic Development Department in my view could help ease unemployment, spur job growth, and revitalize neighborhoods while at the same time create a return on investment for our city through sales tax revenues and increased economic activity.
Long Beach City College (LBCC) announced at their inaugural innovation and entrepreneurship conference the launch of Innovation Fund SoCal (IFSC), a program which will provide funding and mentoring for up-and-coming entrepreneurs attempting to build their startups.
Mayoral candidate and Long Beach City College Trustee Doug Otto formally released his 11-point Jobs Plan this week, giving the public a chance to review for the first time one of the major facets of his campaign.
Recently, the Downtown Long Beach Associates released its annual Economic Profile, which provides a comprehensive overview of the Downtown’s economic landscape. According to the report, the average resident in Downtown today is a young, educated professional with higher than average earning potential–a new trend that has only emerged over the last decade along with the area’s growing population.