Foreign Direct Investment (FDI) adds jobs to LA County, and the first U.S. expo for FDI in the aerospace industry has been awarded to Los Angeles, made possible by collaborative work of the LAEDC, City of LA Mayor Garcetti’s office, and the Aerospace States Association. Read the full press release below.
MAYOR ERIC GARCETTI
City of Los Angeles
FOR IMMEDIATE RELEASE
January 27, 2015
Contacts: Mayor’s Communications Office, (213) 978-0741 / LAEDC Public Relations, (213) 236-4847
MAYOR GARCETTI ANNOUNCES L.A. WINS MAJOR AEROSPACE EVENT
Los Angeles Lands First-Ever Annual Department of Commerce “National Aerospace Foreign Direct Investment Expo
LOS ANGELES — Mayor Eric Garcetti, the Los Angeles County Economic Development Corporation (LAEDC), and the U.S. Department of Commerce announced today that the first annual National Aerospace Foreign Direct Investment (FDI) Exposition will be held in Los Angeles. This is the first stand-alone FDI event in the United States co-sponsored by the Commerce Department that will focus on a single industry: aerospace manufacturing.
The Mayor and LAEDC collaborated last year to bring the exposition to Los Angeles, working jointly to find a suitable venue for the expo, and submitting the winning proposal in a competitive process against other cities and states. The selection of Los Angeles to host the first aerospace expo reflects L.A.’s dominant position in the United States’ aerospace market. More aerospace companies are located in Los Angeles County than any other county in America.
“The aerospace cluster surrounding the Los Angeles Air Force Base is the most concentrated in the U.S., and this event will help us leverage that built-in advantage to boost exports and create middle class jobs,” Mayor Garcetti said. “As a primary entry point for Foreign Direct Investment and as home to aerospace’s most innovative companies, Los Angeles is the natural choice for the Department of Commerce’s first Aerospace FDI Expo.”
The National Aerospace FDI Exposition will provide prospective investors with resources to make smart decisions about where and how to establish or expand their presence in the United States. These will include one-on-one meetings with state and local economic development organizations that are interested in attracting aerospace FDI. Other expo activities will include workshops geared specifically to aerospace manufacturers, such as contracting with the Defense Department and Federal Aviation Administration. The Aerospace States Association (ASA), a non-profit organization of state lieutenant governors and governor appointed delegates, is co-sponsoring the expo. Registration for the event begins today.
“We are delighted to welcome the National Aerospace FDI Expo to its rightful home in Los Angeles,” said Bill Allen, CEO of LAEDC. “The LA region not only has a long and rich history as the nation’s epicenter of aerospace research, design and production, but LA has also quickly asserted itself as the world-leader in next-generation aerospace innovation with fast growing clusters in space commercialization and unmanned aerial systems.”
The expo will be held October 26-28, 2015 at the Hyatt Century Hotel, Los Angeles, California. More information is available at http://www.aeroinvestmentexpo.com/