LARExC recognizes that foreign investment is a major contributor of economic development.
LARExC’s Southern California Foreign Investment Program will have the following objective:
To attract, retain and expand foreign investment in the region
The strategies to be developed and implemented will have the following components:
The counties of Riverside, San Bernardino, Orange, Los Angeles and Ventura participate as LARExC’s Directors – At – Large and have agreed to promote direct foreign investment to the region.
The counties recognized that cooperation among themselves is strategic in increasing r economic development by attracting foreign investment to the region.
LARExC works with diplomats representing over 40 countries in Los Angeles in identifying incoming foreign investment into the region. Southern California has the third largest concentration of diplomats in the country after Washington D.C., and New York.
LARExC will organize regular meetings with these foreign diplomats to learn more about their foreign investment programs and ongoing incubator projects in Southern California.
Establish an efficient and working relationship with selected industrial real estate brokers, international management, consulting, law and accounting firms. LARExC is aware that these firms are not only the first ones to know about current foreign direct investment transactions, but are also working with foreign investors in structuring future investments.
FDI creates new jobs; boosts wages; increases U.S. exports; builds up U.S. manufacturing; brings in new skills, technology, and research; and contributes to U.S. productivity. It also creates new or increased needs for local suppliers and vendors.