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Southern California Economy

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BUSINESS
July 10, 1995 | Times Staff Reports
Another Crystal Ball: The Economic Development Corp. of Los Angeles County will join the chorus of forecasters when it releases its prognostications for the future of the local economy on Thursday. The news has been less than upbeat lately, despite signs that the state's long-awaited recovery has begun. Last month, the widely watched UCLA Business Forecasting Project downgraded its forecast for California, predicting only 1.8% job growth in 1995 and 1.7% growth in '96.
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BUSINESS
August 20, 2012 | By Dalina Castellanos, Los Angeles Times
Los Angeles International Airport helped pump $39.7 billion into the Southern California economy last year, and that number is expected to grow in the next few years as the airport expands, according to a new report. The report by the Los Angeles County Economic Development Corp. found that LAX's operations in 2011 supported more than 294,000 jobs and pumped billions of dollars from new construction and airport payrolls, nearby LAX-related businesses and tourist spending into Los Angeles, Orange, Ventura, Riverside and San Bernardino counties.
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BUSINESS
August 13, 2000 | JAMES FLANIGAN
Southern California has had more than its share of boom times, but right now the economy is doing better than ever. The region, stretching from north of Los Angeles to the Mexican border, has a real chance to emerge in this decade as the most vital area in the world, measured in jobs, global importance and technological edge. It could blow those opportunities, to be sure--the region is hardly bulletproof.
BUSINESS
February 14, 2012 | By Marc Lifsher
California should experience only modest economic growth this year and next, adding nearly a half million new jobs and driving the unemployment rate down to just above 10%, the Los Angeles County Economic Development Corp. said in an annual forecast. Recovery from the deep recession of 2007-2009 is expected to be at “a painfully slow pace” and “it will take years for the county to return to the four million nonfarm job threshhold that marked most of the last decade,” said the report released Wednesday.
BUSINESS
September 29, 1991 | PATRICK LEE, TIMES STAFF WRITER
Business had grown steadily at the Ralphs market in La Crescenta, during times of growth and during times of recession--until this year. Even in this affluent suburb, where household incomes average $60,674 a year, people are spending less on Dove Bars and more on staples such as flour, sugar and cooking oil. "The first thing my manager asked was, 'Where did all the business go?' " said Ralphs Grocery Co. Chairman Byron Allumbaugh after a recent visit to the store.
NEWS
April 18, 1992 | JONATHAN PETERSON, TIMES STAFF WRITER
Southern Californians have become much gloomier about the state of the economy than Americans overall, with the region's more well-off residents increasingly joining the ranks of pessimists, according to a new Los Angeles Times Poll. A little more than half of Southern Californians--52%--say the recession is serious--a substantially bleaker view than among Americans in general, according to recent national surveys that have detected a pickup in confidence about the future.
NEWS
January 20, 1998 | JAMES BATES, TIMES STAFF WRITER
Empty buildings. Thousands out of work, with layoffs extending from corner offices to the security gates. Companies scrambling to discuss merging operations to save money, or even to survive. A mayor warning that a hometown industry would "cease to exist" if the president himself didn't take action. This could describe the troubles any number of cyclical industries in America experienced over the last 30 years, from autos to oil, defense to steel, real estate to financial services.
BUSINESS
November 15, 1987 | TIA GINDICK, Tia Gindick is a Los Angeles free-lance writer
Fifteen years ago, typical visitors to Southern California came to see relatives and Disneyland, though not necessarily in that order. Today, although 40% to 50% still visit family or friends and most still get to Disneyland, the typical tourist is also likely to see Rodeo Drive, South Coast Plaza, an art museum and maybe catch a play or concert--spending a lot more money in the process.
BUSINESS
August 9, 2010 | Cyndia Zwahlen
The Leelin brothers, Mendrick and Michael, are betting they can turn their sleek new Japanese shabu-shabu restaurant in downtown Los Angeles into a national franchise — despite opening in the worst economy in decades. With some signs of improvement in the Southern California economy, more and more small businesses are exploring franchising as a way to grow. Working in their favor are lower rents at many prime locations and a supply of high-quality potential franchisees — individuals who have lost their corporate jobs but have savings to invest.
BUSINESS
July 21, 2010 | By Ronald D. White, Los Angeles Times
Southern California's economy is beginning to gain strength, although local residents may not feel the benefits for many months, according to a forecast to be released Wednesday. Regional employers will be slow to rehire. The housing and construction industries are struggling, and tight credit is crimping consumer and business spending. But tourism is gaining, the entertainment industry is thriving, and international trade projections have jumped since February, the report from the Kyser Center for Economic Research at the Los Angeles County Economic Development Corp.
BUSINESS
February 18, 2009 | Roger Vincent
The declining Southern California economy may bottom out as soon as this summer, but more financial grief is coming as local industries struggle to cope with the recession, a prominent business trade group said in a forecast to be released today. Economic news this year will be "mostly bad," according to the 2009-10 forecast by the Kyser Center for Economic Research at the Los Angeles County Economic Development Corp. The state's economic downturn is expected to hit bottom before the end of 2009, but when growth resumes it will be moderate at best, the Kyser Center said.
BUSINESS
May 22, 2008 | Andrea Chang, Times Staff Writer
An earthquake with a magnitude similar to the one that recently rocked China is inevitable in Southern California and could cause about 2,000 deaths, injuries to 50,000 and $200 billion in damage if it happened today, the U.S. Geological Survey and the California Geological Survey warn in a new report. In the study, "The ShakeOut Scenario," being released today, scientists examine the effects of a hypothetical 7.
BUSINESS
March 12, 2003 | Jerry Hirsch, Times Staff Writer
Southern California's economy has a split personality. One is gregarious. It likes out-of-town guests, selling goods to foreigners, dining, music and entertainment. But it's in the doldrums, depressed by geopolitical tensions and anemic national and global economies. The other looks inward, concerned about local merchants, health-care services and home sales.
BUSINESS
August 2, 2002 | MARLA DICKERSON, TIMES STAFF WRITER
Southern California's recovery appears to be losing steam, according to an economic report released Thursday. The Southern California Leading Economic Indicator, prepared by Cal State Fullerton, reported an increase of 0.18% to its index value after a gain of 0.92% in the first quarter. Although the region's rebound doesn't yet appear to be in jeopardy, signs point to sluggish activity for the remainder of the year.
BUSINESS
March 26, 2002 | BOB HOWARD, SPECIAL TO THE TIMES
Counting on Southern California's economy to rebound over the long term, four experienced Southern California real estate developers have formed a venture that plans to invest as much as $75 million a year in each of the next two years to turn around under-performing office and industrial properties.
BUSINESS
November 17, 2001 | Stuart Silverstein
Southern California's economy will slow further next year, but the region will continue to fare better than the nation as a whole, local business forecasters said. But the forecasters, speaking at an economic conference held by the Southern California Assn. of Governments, said that Los Angeles County will suffer more than the rest of Southern California and that its growth will be negligible in early 2002.
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