LOS ANGELES : City Council OKs Spending Plan to Attract Business
In an effort to keep employers from leaving the area, the Los Angeles City Council on Wednesday approved Mayor Richard Riordan’s proposal to spend more than $1.9 million this fiscal year to retain and attract businesses.
Under the mayor’s plan--passed by a 11-0 council vote--the city will hire 19 people and a marketing firm to launch a public relations effort to stop other areas from luring Southern California firms. Los Angeles would also offer incentives to employers, including tax breaks and loans.
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