DOWNEY – Downey was selected as the “Most Business-Friendly City” in Los Angeles County for cities with populations greater than 68,000.
The award was presented Nov. 9 at the 22nd annual Eddy Awards, put on by the Los Angeles County Economic Development Corporation (LACEDC) at the Wilshire Grand Center in downtown L.A.
Arcadia was named “Most Business-Friendly City” for cities with a population less than 68,000, which is the median population size for California’s cities.
“This year’s Most Business Friendly City awardees understand that communities and families thrive when good jobs are created,” said Bill Allen, Chief Executive Officer of LAEDC. “It is great to see our region’s elected leaders and city staffers prioritize the attraction and retention of businesses providing well-paying jobs for our county’s residents.”
The winners were selected by a panel of blue ribbon judges based on the following criteria:
■ Demonstrated commitment to economic development as a priority
■ Programs and services designed to facilitate business entry, expansion, and retention
■ Economic development activity over the past three years
■ Competitive business tax rates and fee structures
■ Availability of economic incentives
■ Regular and effective communication with businesses
In announcing Downey as its winner, the LACEDC praised the city for its efforts in creating a pro-business environment:
“The City of Downey’s pro-business approach, progressive city government, and strong local economy make the city an excellent business location. The area has great housing stock, a high quality of life, a skilled workforce, and a diverse population.
“Economic development staff that serve as ombudsmen expertly assist businesses with entitlement, development and approval processes. By ensuring public safety, encouraging economic growth, and supporting environmental responsibility, Downey remains a positive example and its essence of community is what makes it such a special place.”
In recent years, Downey’s centralized location has made it a healthcare hub. Kaiser Permanente recently announced it is investing $52 million to expand its Downey hospital, and PIH Health has spent millions of dollars since acquiring Downey Regional Medical Center four years ago.
Rancho Los Amigos National Rehabilitation Center is undergoing a $418 million renovation that will secure its reputation as a state-of-the-art rehabilitation center.
The long-abandoned Rancho Los Amigos south campus will under a major revitalization as a result of a $468 million investment that will include a new rail transit line along with retail, residential and commercial development.
“We feel honored to have been named ‘Most Business-Friendly City’ and take great pride in being the driving force for economic growth not only in our city, but the entire southeast region,” said Mayor Fernando Vasquez.
Mayor Pro Tem Sean Ashton added: “This award demonstrates our commitment to economic growth and our vision for continuing to ensure a strong and thriving business community.”
Downey recently celebrated the opening of the newly-expanded Downey Nissan dealership, which was the result of a partnership between Nissan and Downey through economic development funds.
The dealership recently celebrated the highest sales for a Nissan dealership in the country and is expected to generate more than $9 million annually in economic activity to Downey.
Its former location on Firestone Boulevard has been occupied by a new Hyundai dealership.
Giant RV recently moved into the former Gemco and World of Decor building at Florence Avenue and Studebaker Road.