Friday, July 16, 2010

SUCCESS! OEA established in LA City

LA City Office of Economic Analysis is official!


GREAT news: The LA City Council yesterday approved an Office of Economic Analysis that the business community initiated and then rallied strongly for over the past year!


The Council voted 14-0 to create the office, which will perform economic impact analyses on proposed ordinances and will be funded by $250,000 by Council President Eric Garcetti, who was among the bold leaders of the drive.


This is a good step toward helping ensure the jobs and economic impact of policy, projects and regulations are adequately evaluated by LA City officials BEFORE they take action. And a solid success story for the collective business community. BizFed, Central City Association (CCA), Employers Group, Los Angeles Area Chamber of Commerce, LAEDC, Valley Industry and Commerce Assoc. (VICA), among others, came together in earnest to advance this most needed economic assessment vehicle.


The OEA, modeled after a similar office in San Francisco, will operate in the CAO's office, is expected to be operational this summer and will contract out the requested reports. The OEA will only do a report on proposed projects or ordinances for which an economic analysis is requested by the Council.  Thus, the business community will need to be diligent in asking council members to request analyses if we think they are important.


We ARE all making a difference!




Tracy Rafter, CEO 

BizFed, Los Angeles County Business Federation 


Grassroots alliance of 70 top LA County business groups

Mobilizing over 100,000 business owners


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