A Global Hub of Creativity and Innovation

Photo Credit: LA Inc.

Only 150 years ago, Los Angeles was a sleepy pueblo surrounded by rolling ranchlands. Today, it's the third largest metropolitan economy in the world, with a population of 13 million and a GDP of over $700 billion.

L.A.'s rise to global prominence in such a short time is a testament to the can-do spirit of its residents and businesses, and to a culture of thinking big. Los Angeles has always been an incubator of new ideas, and the scale of its economy reflects the impact that L.A.'s brand of creativity and innovation has had on the world. And it's a way of thinking that cuts across industries.

The Los Angeles economy is exceptionally diversified, with established industry clusters ranging from Aerospace, entertainment, and fashion to biomedical services, consumer products, and tourism. In each of these varied fields you'll find an approach to life and business that is distinctly L.A. - combining passion, innovation, and expertise in a way found nowhere else.

Facts about the L.A. Economy:

  • L.A. County has a larger GDP than the countries of Belgium, Saudi Arabia, Norway and Taiwan.
  • About 40% of all containerized goods entering the U.S. pass through L.A., the largest seaport in the Western Hemisphere.
  • L.A. County is the largest manufacturing center in the U.S., with more manufacturing jobs than the state of Michigan.
  • L.A. is a world leader in aerospace, clean technology, entertainment, fashion, healthcare and tourism.
  • Some of the many things invented in LA include: the Space Shuttle, the hula hoop, Myspace, the global positioning system, the fortune cookie, the modern skateboard, and the Mars Rover.
  • More about the Los Angeles economy.

Key sectors of L.A.'s innovation economy

  • Logistics And Trade

    International trade is the largest industry in Los Angeles by employment. Nearly 300,000 jobs are directly sustained by the movement of goods in and out of the Los Angeles/Long Beach Port - the largest port complex in the United States and the Los Angeles International Airport (LAX) - the world's sixth busiest airport. Both the Port of Los Angeles and the Los Angeles Airport are owned by the City of Los Angeles and are key components in the City's strategy to grow businesses and the economy...

  • BioTech / Health Sciences

    Los Angeles is home to some of the finest research institutions/facilities and teaching hospitals in the nation, including UCLA Medical Center, USC's Keck School of Medicine, Cedars-Sinai Hospital, the House Ear Institute, Good Samaritan, Childrens Hospital Los Angeles, California Hospital Medical Center, and the Doheny and Jules Stein Eye Institutes...

  • The Creative Economy

    The creative industries in Los Angeles are a major player in the regional economy, generating nearly 1 million jobs and over $100 billion in sales revenue. And the creative economy in Los Angeles goes far beyond our world-famous film and entertainment industries, encompassing a range of creative fields and disciplines that make L.A. the creative capital of the United States...

  • Clean Technology

    Los Angeles is committed to becoming the greenest big city in the nation and a global capital of clean technology. Through leading environmental initiatives, we are cleaning up the air and water, reducing greenhouse gas emissions and creating a green economy in L.A...