LOS ANGELES — Thousands of local manufacturers are getting the boost they need to expand their reach overseas, thanks to a new export initiative from Mayor Eric Garcetti.
The initiative will support local manufacturing by helping L.A.-based companies access international trade opportunities, and prepare their businesses to export products to other countries. Mayor Garcetti launched the program today alongside a group of dignitaries and local business leaders.
“Los Angeles' economy is surging — we’re creating jobs, attracting businesses, and making generational investments in a prosperous future for our city,” said Mayor Garcetti. “Increasing exports can make our economy even stronger, by helping local companies grow and create even more good-paying jobs. L.A. is already on the world stage, and this export initiative will give our businesses new opportunities to have global reach.”
A strong export market is critical to the health of our economy, here in Los Angeles and across America. For every $1 billion of exports, the economy creates nearly 6,000 new jobs. And although 95 percent of the world’s consumers live outside the U.S., only one percent of U.S. companies currently export. As a major international trade hub, and the nation’s largest customs district, the L.A. region can play a crucial role in boosting the national export market.
Mayor Garcetti's new program is designed to guide local manufacturers through the complex export readiness process, help them address key challenges, and connect them with a variety of training and counseling services available through city, state, and federal partners. Mayor Garcetti’s team will also escort delegations of local companies on trade missions to pursue new business opportunities around the world.
The initiative is just one of many efforts by Mayor Garcetti to support international trade in Los Angeles, and across the country. Just last week, he joined U.S. Secretary of Commerce Penny Pritzker to announce a national effort to make America’s supply chains more efficient and competitive in the global market.
Mayor Garcetti’s export initiative is a partnership between the City of Los Angeles, the U.S. Department of Commerce, the Los Angeles Regional Export Council, World Trade Center Los Angeles, the Los Angeles Tourism and Convention Board, and Sister Cities of Los Angeles.