LA County Hits the Mark on Economic Development

Created by the Los Angeles County Chief Executive Office, the Economic Development Scorecard is intended to track the progress made by the County in impacting economic development in the areas of workforce development, loan and business assistance, financial assistance and capital development. The scorecard helps to shed light on the progress of newly added department projects such as, current active local and targeted worker hire goals and other areas of investment throughout LA County. The Scorecard provides relevant information on LA County’s economic development programs to strengthen the County’s workforce, quality jobs, and incentivize the growth of small businesses.

The Scorecard highlights the targeted high-growth industry clusters across the County and evaluates whether workforce development programs are aligning skilled and unskilled workers with these targeted sectors. Below is data collected from WDACS for FY 2018-19 for placement by industry cluster.

Bioscience was the first of the seven industry sectors selected by the County for focused support, creating the County’s Bioscience Initiative. The Los Angeles region generates cutting edge bioscience R&D and a trained workforce capable of launching and supporting enterprises emerging from local research institutions and incubators. Over past economic cycles including the Great Recession, bioscience jobs have proven unaffected by economic downturn.

BioscienceLA, The LA County Bioscience Investment fund, Bioflex and Bioscience incubators stimulate the future of Los Angeles Counties job growth and will potentially foster and facilitate high paying research based skilled employment. As many of these facilities near completion, the data will continue to support and benefit the Los Angeles’ employment landscape.

Read the full Economic Development Scorecard here.