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:
Key sectors of L.A.'s innovation economy
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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
Mayor Antonio Villaraigosa and the Office of Economic and Business Policy are committed to making Los Angeles the greenest big city in the nation and a global capital of clean technology. Through leading environmental initiatives, the Mayor is cleaning up the City's air and water, reducing greenhouse gas emissions and creating a green economy in L.A...