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HomeMy WebLinkAboutSupplemental Communication - Study Session #1 - Welcome to S a : 13 * rr �C a m uthe"' �r �. : 4 s 9F 4,MIN L*r P.W ro P � • p f��Y i I{i' � � � , � 'T We.x Mar.... MW A r w77 low h- IL CHRISTINE COOPER, PH.D. SENIOR VICE PRESIDENT LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION Presentation � ut ine of Who are we? Where have we been ? Where are we headed ? Is this where we want to go? If not, what can we do? LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION 'U''U' h Are We ? a�- LAMW LDS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION Introduction 34,000 square miles 3 18 million residents 190 cities 5 GDP : $993 billion � �� � � .F. x � � � �J � �t{ Wes# + Lake 45% of the state nfi Diverse industriesch ° . g .Sacandl4a ��Rw: .. 15% of HH rt � .—_. ldralcaid are in poverty -_ - _.___�_ __.____".......� ___. .��W� .-�:._ �� �_._ . .....__ LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION Race and Ethnicity Southern California 2015 , r • - Black 6.0% Other 2.7% ,, LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION Educational Attainment Population 25 years and older E �� F nigh . sch� ram, ON, • rr f A J • LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION .t: Y-1-e T�pll; Farming c . 1870 , V i i µ Y a F" �r F +� s ' LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION i ,--v.«r»�."roro«+w,+ w,rrar..vr ^'M. �—�.r' _ ,a..r`.... ��,."'YX. ,• - ra i�' 'wtN�"--�r"�' .w�'�yw-.a�nr:. ���• .^?�rt++,ayc � .]" y,....Xx✓ uz vavr -sr., w R[.M.K4nn a�fBramF.+w.au«»'�•'m : �i.�rH+W�.F w�»,wtew3:4KK4}Mitt`Fka ^`s.'..��.F•.rfAitmgw �y'vaS +w,.eicaYea..r�n�•r��l:tw'ffi��fr.W 'F d�rcE°^a'^-a "�'SC+eOq - a+niA ,Jh�«d� ww..W. wM •J.A..1 ,y '�+a,.era. .^k" . �.-r+�i� r5 4 re� '^�'w"w«x• .�8� �am-�w,•4TW+i..L1^ a` \ :43'f^aY,nvm-�.'PM ,�,gs•'^Cr +w-n F� �..-et^ mY aN"�� `A. 5-+43,'.`nrxSvbi<�e. '3),°.ri. .wy ,e. �W... ».�..ww �� ."w.�e«...2�aa. - -WT.....-... w arr.� �` ,,,�.•l�. ..F' C`S�diFt"�.� r'`� k"+�� � r �..�. .,.....:,n ..i''x.,�,-`+-..,t..,.,. _�' A� rail M14n.:�, �•A .arv:as.�::�a• '}"l�+GM' `' +++.�usr' _ _ t�._ �✓}`ate T`�'.,�ar.�l'.1H. N,« �+- ,M4c ' _ '+!f -.,eY'Tr&x'.-�^ew-.,�en. j'^,N N `���Ay�ng '4. �_vl`� h• :.•.mow.: •w .- Y �n ,�, y'�'{��..'�^"^'eaT^+owaaw�+ "._ ^`4�n$a'.3'.$`x r F, N r .•.• r. nA>t1A��SCr•r Y' S t .+n yw..+.e.. •�,_ w.:...- r..,•.z.wr -x:'�+*w.,x 1 -...-_ araw �.':. .. .� �' - - , Employment Agricultural As a share of labor force ( US) 80 40 Year 10 LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION Ford Assembly Line c . 1930 r �: � I '!�I � �� 41WA 4� i�i 'l�r• �k a: .q. N LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION _ .�s_ � �"�i':F ..r �'r llra Y�r��:, L ts4 .. ,' L.•K�y.� t ss r! 11 �, u� "�a��E� � �"��'� � .F *-fir • �' ��'�� %j s 1 {{ fa i r 1_ All _ . .� � � ref► �� �� .r �` � <� Manufacturing Employment % of all employment ( US) 40% 37.9% 30% 20% 16.2% 10°/a 3.7% N� ti� � ti� � ti� N� N�) Ng N� "'q 0 LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION ManufacturingEmployment Thousands of jobs in LAC 815 631 615 474 373 361 454K manufacturin• jobs were lost r 1990 1995 2000 2005 2010 2015 LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION Recent Job G Indexed Growth 1990= 100 140 130 - _ _ ..._ USA � .. California 120 _ 110 Los Angeles 100 90 80 - - ------ -- .......... 1990 2000 2010 2015 LOS ANGELE'S COUNTY ECONOMIC DEVELOPMENT CORPORATION i Recent Job Growth Indeed Growth 1990= 100 140 1 USA 30 California 120 a ,s 110 � A Las Angeles 100 " 90 80 _ 1990 2000 2010 2015 1014 LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION I Tale of Two Regions Population ( millions) 22 .0 7.9 Per capita GDP ( 2014) $57,020 $87,,050 Average annual wage $56, 240 $86, 240 Median Home Value $448,010 $664,630 Unemployment rate 6. 1% 4.4% LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION Recent Job G Indexed Growth 1990= 100 140 130 120 NorCril SvCai 110 ( � s o � A 100 ,90 80 ..._ ..._.... __..................................... ........ ........ ..__ 1990 2000 2010 2015 LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION Employment by Sector - details Natural Construction Resources 4.4% Manufacturing 0.7% 8.4% Wholesale Other Services Trade 3.9% 13.1% 4.8% Retail Trade Tra nsp / Warehousing/ ' f Uti Is Information �F 3.1% Financial Activities 5.2% LOS ANGELES COUNTY ECONOMIC[DEVELOPMENT CORPORATION Real GDP Growth Indexed Growth 1990= 100 240 . .. ..... . ...................... ... 220 200 California 180 USA 160 140 120 100 80 - - --- -- - - 1090 20,00 2010 2015 LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION Real GDP Growth Indexed Growth 1990= 100 240 NorCa'[ 220 200 x California 180 USA 160 Sofa r.. 140 w 120 w 149 80 1990 2099 2010 2015 LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION ReyGDP Growth Indexed Growth 1990= 100 240 220 200 180 California r 160 Sau l 14C! -- '` 1AC 120 = 100 0. 80 -- 1990 2000 2010 2015 LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION I Real GDP Gro�wth Indexed Growth 1990=100 240 t . . 220 200 ela 5C w/o LAC 180 California 160 Sofa! . . .. ....... .. 140 M, ?, LAC s, _y. 120 aR t 100 80 ..................................................... ........ _ - -- 1990 2000 2010 2015 LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION Ala W h Are Headed .? 1 tAmc r- LOS ANGELES CO41NTY.. „ OPMENII CORPORATION i Broad Lessons We are undergoing another structural transformation . This is impacting every region, but there are winners and losers . Has soul lost this lottery? LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION TheBi uestion . . . Does technology lead to unemployment? Is "creative destruction " job-billing? L©SANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION 0 �► i Ad wn F t t r V i`" 4 i F 4 p» t o y t P M , 46 i c . 2015 Computer Technology ■ � : `fllliy Ilgl;l Y � u I ON, VI ii Iii i _ T r- r LDS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION Tomorrow ■ . . Computers will program themselves, and other computers . What will co.m puter developers do then ? What about the rest of us? LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION i New Jobs Industry Sector 2015-2020 Job Growth: Nat Resources (237) 520,000 jobs Construction 50,507 Manufacturing Wholesale Trade 13,065 Retail Trade 6,617 Transp / Warehousing/ Utils 10,369 Information 14,976 Financial Activities 33,887 Prof & Bus Services • • Education & Health Services • • Leisure & Hospitality • Other Services 18,211 Government 16,236 LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION To 5 Occupations Retail salespersons General office clerks cashiers Laborers and freight handlers combined food preparation and serving LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION Is This Where We Want to Go ? r .. 4 4 6 k Lwma LOS ANGELES COUNTY ECONOMIC DFVFLOPMENT CORPORATION Entry Level Requirements New and replacement PhD or Prof jobs over next 5 years 6A MA degree 1 year exp 1.6%, 2.2% a � rp" ■ 1 year exp in high , kirk., }I Post-secondary ___ n .. m certificate 5.3% HS ,/ equivalent..., fHS. `' uivalent >1 year exp <1 yearexp 5.9% 29.0% hhkmm,. -- �A LOS ANGE'LES COUNTY ECONOMIC DEVELOPMENT CORPORATION Education and Earnings Population 25 and older SoCa I Median $33,858 Less than high High school Some college or BA Graduate or school credential AA professional LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION Poverty and Unemployment Population 2.5 and older 26.4% Poverty 16.5% 11.U% Unemployment 5.0% 5.5% 4.7% Less than high High school Some college or AA BA or higher school credential LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION What Can We Do ? ��hLL r�• k ' LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION Our Call to Action cos Angetes C0 for rconnrn c De jj►tleil ��StreteJS r inn Fksura 9�S{ � t n fart g CnuntY di ®nuR461e eeenoy side pities People Exports Innovation _f Business Infrastructure `4z Global connectedness Livable communities r, LOSANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION Local Competitive Industries Aerospace and Defense Agricultural Inputs and Services Biomedical and Health Services Communications Equipment and Services Entertainment Tourism and Hospitality Trade and Logistics LOS ANGELES COUNTY ECONOMIC DEVELOPMENT CORPORATION t >; I I i � r