TORRANCE RANKED AS ‘MOST BUSINESS-FRIENDLY CITY’ BY L.A. BUSINESS LEADERS
BizFed’s 2021 Pulse Poll Sees Record Participation
LOS ANGELES: In a recently completed survey of Los Angeles area business leaders, when queried about the “most business-friendly city in Los Angeles County,” 18% of respondents selected the city of Torrance. The survey, completed by 782 respondents, included 214 participating organizations comprising 100% of BizFed’s membership spread across 19 industry sectors. The survey analyzed key topics that impact business operation and profitability including workforce levels, remote work, childcare challenges, the effectiveness of government relief programs and other topics.
“It’s encouraging that Torrance’s business community acknowledges the work that the City Council and men and women who work at the City put into making Torrance a great place to live, work and raise a family,” stated Mayor Patrick J. Furey, city of Torrance. “We’re committed to maintaining this hard-earned ranking by working with businesses, large and small, in our city.”
In comparing all responses received from Torrance Chamber of Commerce members, the results differ slightly from the entire Los Angeles County region as a whole in the following ways:
• Torrance businesses are more certain that they will continue to lease office space post-pandemic than businesses in L.A. County (84.29% Torrance versus 71.43% L.A. County);
• Torrance businesses anticipate having fewer challenges paying rent (13.56%) versus businesses in Los Angeles County (20.22%).
• Almost half of all Torrance businesses (47.47%) expect to expand their workforce in the coming year and 16.6% are projecting increases of more than 10%. For L.A. County, 37.30% of businesses expect to expand their workforce.
• Support for Governor Gavin Newsom and the State Legislature is lower in Torrance than in L.A. County (Gov. Newsom: 26.80% in Torrance versus 35.38% in L.A. County) and the (State Legislature: 28.87% in Torrance versus 35.01% in L.A. County).
• Concerns about homelessness and taxes and fees in Torrance mirrored L.A. County findings, crime and education reversed places – with crime ranked #4 in Torrance but #3 in L.A. County and education ranked #3 versus #4 in L.A. County.
• Almost two-thirds of Torrance businesses (63.64%) indicated that public transportation is not important to their businesses, employees and customers. This percentage is almost 20% higher than the L.A. County total of 45.37% of businesses that indicated public transportation was not important.
The Torrance Area Chamber of Commerce had almost 100 responses (99 of 782 respondents) to the BizFed Pulse Poll. The Los Angeles Area Chamber of Commerce came in second with 63 respondents and the San Pedro Peninsula Chamber came in third with 41 participants.
“The Torrance Area Chamber’s strong response is a testament to an active, focused business community determined to prosper in 2021 and beyond,” added Donna Duperron, president and CEO of the Torrance Area Chamber and BizFed 2021 chair. “The survey results highlight a positive business climate and optimism about the future. Our ranking as the most business friendly city highlights the efforts and collaboration between the City of Torrance and the business community.”
About the BizFed Pulse Poll
This year’s survey marks the 13th year that Employers Group has partnered with BizFed to conduct its annual Pulse Poll, this year called “2021: Business Outlook and Re-Opening Survey.” The survey, which was conducted from April 12 to May 4, 2021 asks BizFed members, business owners and executives throughout Los Angeles County, a battery of questions to find out key issues and concerns they deem most critical to the ongoing operation and growth of their business. Access the full BizFed Pulse Poll here.
KEY SURVEY FINDINGS
● Homelessness remains the region’s top issue for the second consecutive year; taxes and fees remain the second ranked issue for the second consecutive year;
● Businesses look more favorably about commercial real estate leases, but uncertainty remains about the workplace;
● Workforce levels are expected to increase but remote work is here to stay
● Childcare is preventing employees from returning to the workplace;
“These comprehensive findings highlight how Los Angeles’ business leaders are ready to get back to work and feel largely positive about the next 12-months,” stated Tracy Hernandez, BizFed Founding CEO. “Barring unforeseen economic headwinds or government overreach, Los Angeles-area business leaders believe they are poised for economic growth, job creation and business expansion. That said, business leader concerns about homelessness and affordability must be addressed in tangible ways.”
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With more than 214 business organizations representing 450,000 employers with four million employees throughout LA County, BizFed is a massive, diverse grassroots alliance that advocates for policies and projects that strengthen our regional economy. As a united federation, business leaders in LA County are able to more efficiently collaborate and mobilize to advance a shared agenda on local, regional, state and national issues. BizFed members are force multipliers who mobilize and empower their communities to take action on policies and projects that affect our economy. To learn more visit www.bizfedlacounty.org
About Employers Group Established in 1896, Employers Group is the leading source for intelligent business, HR solutions, and employer advocacy, helping thousands of employers across the country – and around the world. We understand human resources and helping you manage your people by mitigating risk, ensuring regulatory compliance, and minimizing costs – it’s OUR business. Employers Group is your connection to business solutions and performance. To learn more visit www.employersgroup.com