FOR IMMEDIATE RELEASE
Robert L. Duarte, Jr.
Los Angeles Drops 20 places in “Best-Performing City” Rankings
Statement by Tracy Hernandez, founding CEO of the Los Angeles County Business Federation, BizFed
LOS ANGELES, CA (Jan. 28, 2019) – “No matter how well-intentioned some environmental or labor policies may be, they have relentlessly driven up the cost of business to the point that businesses are now in survival mode. We must work together for fair policies that protect people and the environment but also allow businesses to thrive so they can build, expand and provide the kinds of good-paying, middle-class jobs that LA is so desperately lacking,” said Tracy Hernandez, founding CEO of BizFed LA, a grass roots business advocacy group.
The Los Angeles-Long Beach-Glendale metro area dropped 20 spots in the Milken Institute’s Best Performing Cities index because of slow job and wage growth, per a report released Jan. 24.
“That is simply unacceptable,” Hernandez said. “But it’s not unexpected. If policy makers spent time talking with local business owners, they would have seen this coming.”
In BizFed’s annual poll #BizFedPulsePoll, LA business owners site a litany of challenges that drive businesses and their employees out of the region: high taxes and fees, over burdensome regulations, traffic congestion, the housing crisis, and ever increasing labor costs.
About Los Angeles County Business Federation (BizFed)
With more than 180 business organizations representing 400,000 employers with nearly 3.5 million employees throughout L.A. County, BizFed is a massive, diverse grassroots alliance that advocates for policies and projects that strengthen the regional economy. Leveraging power in numbers, BizFed explores all sides of critical issues and takes action to make a difference for business growth, job creation, and economic vitality in Southern California.