Page 15 - FY 2022-23 Proposed Budget
P. 15

ECONOMIC AND DEMOGRAPHIC INFORMATION

               Introduction
               The City of Los Angeles, California (the “City”) is the second most populous city in the United States with
               an estimated 2020 population of 4.01 million persons.  Los Angeles is the principal city of a metropolitan
               region stretching from the City of Ventura to the north, the City of San Clemente to the south, the City of
               San Bernardino to the east, and the Pacific Ocean to the west.

               Founded in 1781, Los Angeles was a provincial outpost under successive Spanish, Mexican, and American
               rule for its first century.  The City experienced a population boom following its linkage by rail with San
               Francisco in 1876.  Los Angeles was selected as the Southern California rail terminus because its natural
               harbor seemed to offer little challenge to San Francisco, home of the railroad barons.  But what the region
               lacked in commerce and industry, it made up in temperate climate and available real estate; soon, tens and
               then hundreds of thousands of people living in the Northeastern and Midwestern United States migrated to
               new homes in the region. Agricultural and oil production, followed by the creation of a deep-water port, the
               opening of the Panama Canal, and the completion of the City-financed Owens Valley Aqueduct to provide
               additional water, all contributed to an expanding economic base. The City’s population climbed to 50,000
               persons in 1890, and then swelled to 1.5 million persons by 1940. During this same period, the motor car
               became the principal mode of American transportation, and the City developed as the first major city of the
               automotive age. Following World War II, the City became the focus of a new wave of migration, with its
               population reaching 2.4 million persons by 1960.
               The City and its surrounding metropolitan region have continued to experience growth in population and in
               economic diversity.  The City’s 470 square miles contain 11.5 percent of the area and approximately 39
               percent of the population of the County of Los Angeles (the “County”).  Tourism and hospitality, professional
               and business services, direct international trade, entertainment (including motion picture and  television
               production), and wholesale trade and logistics all contribute significantly to local employment. Emerging
               industries  are  largely  technology  driven,  and  include  biomedical,  digital  information  technology,
               environmental  technology  and  aerospace.  The  County  is  a  top-ranked  county  in  manufacturing  in  the
               nation.  Important components of  local industry  include  apparel, computer and  electronic components,
               transportation equipment, fabricated metal, and food.  Fueled by trade with the Pacific Rim countries, the
               Ports of Los Angeles and Long Beach combined rank first in the nation in volume of cargo shipped and
               received.  As home to the film, television and recording industries, as well as important cultural facilities,
               the City serves as a principal global cultural center.








































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