LOS ANGELES COUNTY : 3 Cities Join Public-Private Effort to Revive Economy
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In a demonstration of regional togetherness, the cities of Glendale, Pasadena and Burbank are joining hands to invest in an innovative effort to jump-start the state’s stalled economy.
The three cities have agreed to share the $50,000 cost of a membership in Project California, a collaborative, private-public effort to redirect beleaguered aerospace and defense resources into building new transportation and telecommunications industries.
The tri-city agreement is the first municipal enrollment in the project, led by a select, 24-member panel of state leaders. Forty-five other investors--including major companies, banks, transportation districts, utilities and labor organizations--have pledged $2.4 million to the project, launched last June with the endorsement of Gov. Pete Wilson.
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