LOS ANGELES—Mayor Eric Garcetti joined hundreds of global business leaders Thursday to showcase Los Angeles’ booming economy and push for new investment in city assets.
The Regional Investors Conference, held this year in Playa Vista, provides an opportunity for leaders from across Southern California to promote private investment in municipal bonds. This year’s third annual conference is focused on L.A.’s rapidly growing tech sector, and how it increases the value of local bonds.
“There’s never been a better time to invest in Los Angeles. Our economy is growing, and more people are choosing to live, work, visit, and study here than ever before,” said Mayor Garcetti. “For evidence, look no further than Silicon Beach — where some of the world’s greatest entrepreneurs are helping to power our economic resurgence, by building or expanding innovative businesses that are shaping the future. I’m committed to bringing even more investment into our city.”
In his remarks, Mayor Garcetti discussed opportunities to invest in bond-issuing entities — including the City itself, the Port of Los Angeles, Los Angeles World Airport (LAWA), the Los Angeles Department of Water and Power (LADWP), the Los Angeles Unified School District, and the Los Angeles Community College District.
Greater investment in these bonds will generate more revenue for the bond-issuing agencies, which can be reinvested in L.A. communities through critical city services like water and power, public safety, infrastructure, and education.
The push to invest comes at a particularly important moment for many of the City’s bond-issuers. LAWA, for instance, is in the midst of an unprecedented $8.5 billion makeover of LAX — and the coming years will see an additional $5 billion invested in creation of an airport rail system. The Port of L.A. remains the nation’s busiest cargo port, and continues making investments to meet the growing demands of the global economy. And LADWP is investing in infrastructure that will make its service more reliable, and the City more resilient.
