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DOWNTOWN LONG BEACH ECONOMICPROFILE2014 ECONOMIC PROFILE 2014 CONTENTS 4 DOINGBUSINESS 8 DOWNTOWNDEVELOPMENT 12 TRANSIT 16 DEMOGRAPHICSPSYCHOGRAPHICS 18 RESIDENTIALPOPULATION 20 HOUSING 24 WORKFORCE 26 OFFICESPACE 30 SHOPPING 34 RETAILSPENDING 38 TOURISM 42 DOWNTOWN LONG BEACH ASSOCIATES 2 3 ECONOMIC PROFILE 2014 EALIZE PPORTUNITY NVEST DOING BUSINESS IN DOWNTOWNLONG BEACH 4 Welcome to Downtown Long Beach!Located between Los Angeles and Orange County, Downtown Long Beach is at the center of Southern California business. A burgeoning urban environment, Downtown Long Beach features a waterfront view, business district, a historic architectural atmosphere, and a cultural arts scene. Paired with a strong sense of authenticity that attracts residents to this urban center, Downtown Long Beach is a promising site for new business development in Southern California. The strong customer base of 30,000 residents and millions of visitors each year is enhanced by the city’s business-friendly policies. The Downtown population continues to grow, with several high-rise residential projects on the horizon that are expected to add hundreds of luxury units to the city’s core. Additionally, policies such as the Downtown Plan, Long Beach Housing Element and Adaptive Reuse Ordinance streamline development, clarify permitting processes, promote preservation of historic properties, and oer a sustainable roadmap for growth. Downtown Long Beach also has the benet of two Business Improvement Districts (BIDs) that oer a wide range of value-added economic development services for current and prospective businesses. Entrepreneurs, developers, and business owners are realizing the potential ROI in Downtown Long Beach – not just their Return On Investment, but also their ability to Realize Opportunity and Invest. Downtown Long Beach is full of opportunities and our team is ready to work with you every step of the way and make it easier to gain the ROI you’ve been looking for. Kraig KojianPresident & CEODowntown Long Beach Associates (DLBA)DOWNTOWN LONG BEACH ASSOCIATES PRIME LOCATION Downtown Long Beach is one of Southern California’s most unique waterfront urban destinations to live, work, and play. As California’s sixth-largest city, Downtown Long Beach is centrally located and a mere 20 minutes from both Los Angeles and central Orange County. Additionally, visitors can easily access Downtown via public transit and explore its many shops, restaurants, and attractions by bike or on foot. Downtown Long Beach offers all the amenities of a major urban center within a clean, safe community and is enhanced by the temperate climate and breathtaking ocean views. A VALUE-ADDED BUSINESS ENVIRONMENT Downtown Long Beach has the added benet of a community-led Business Improvement District, administered by the DLBA, that ensures Downtown streets are clean, safe, and vibrant. Led by a comprehensive strategic plan that emphasizes Economic Development, the Public Realm, Public Safety and Marketing & Communications, the DLBA takes a multifaceted leadership approach to enriching the Downtown experience. The most visible of these services are the Clean and Safe teams, serving an area frequented daily by thousands of employees, residents, shoppers, and tourists. The DLBA’s Clean and Safe teams facilitate cleanliness, maintenance, public safety, and ambassadorial services that enhance both physical and experiential aspects of the public realm in Downtown. The DLBA is an excellent resource to my company and my local business district. They provide public relations assistance, introductions to City Hall, and attract new customers through marketing and events. - Jose Cordon, 1897LB 7 ECONOMIC PROFILE 2014 BUSINESS AND CUSTOMER ATTRACTION The DLBA utilizes a comprehensive approach to attracting new businesses and consumers to Downtown Long Beach. From social media campaigns to traditional print advertising, the DLBA uses a variety of platforms to promote everything Downtown Long Beach has to offer. Additionally, the DLBA produces more than a dozen annual events that attract tens of thousands of revelers and generate millions in consumer spending. ECONOMIC DEVELOPMENT SERVICES In addition to attracting business and investment to Downtown, the DLBA also helps existing businesses thrive by constantly improving the political and regulatory climate and provides directs services, including:ã Liaison services between businesses and city departmentsã Property owner and brokerage contactsã Site selection assistanceã Business development resources EMPHASIS ON THE PUBLIC REALM The DLBA works to identify and oversee projects that will enhance the physical environment within Downtown. From storefront activation programs to alleyway beautication grants, these projects are designed to beautify Downtown, enhance public safety, and expand accessibility.
