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Economic
Development
Economic Profile:
The City of Redondo Beach is located in the South Bay part of Los
Angeles County, which is in the southwesterly portion of the State of
California. The City?s population has been slowly, but steadily growing in the
past few years. As reported in the 2000 Census, the population as of January
2000 is 63,261. In comparison, the population reported in the 1990 Census was
60,167. The minimal net gain in population of 3,094 over the 10 year period
reflects the fact that the City is primarily a residential (mostly built-out)
and recreational community.
Significant
concentrations of employment and retail activity include the northern industrial
complex anchored by the TRW campus, the Harbor/Pier area which generates a
positive cash flow of $2.3 Million to support services to the rest of the
community, a regional mall, the South Bay Galleria anchoring the east end of the
City and an eclectic mix of specialty shops and services known as the Riviera
Village in the south.
Economic indicators are
mixed but improving at this time. The trend indicates a general slowing in
activity. Property Tax and Sales Tax revenues show modest growth. Unemployment
has risen from last year?s historic low of 2.7 percent. The housing market
remains strong although price increases have moderated somewhat. Median home
values have increased by 9.2 percent over the last year. Demand for homes in
the desirable beach cities has raised the median value of a residence in Redondo
Beach from 359,500 to 392,500. Housing activity remains a strong sector of the
local economy and Redondo Beach continues to develop housing which both supports
the local employment base and which provides housing opportunities for employees
from surrounding job rich communities. In the period from 1990 to 2000 the city
added 4.7 percent to the housing stock with a net gain of 1,323 housing units.
Population growth over the same period was 3.4 percent. Redondo Beach has
maintained a balanced land use profile. In comparison, many surrounding
communities continue to have pronounced jobs to housing imbalance. For
example, the City of El Segundo has only 7,261 housing units to support the
current employment level of 57,535 jobs.
Economic Development:
The City?s economy and that of the entire South Bay have and continue to
diversify. The narrow base defense and aerospace dependent economy of the
1990?s has been broadened significantly. Until recently the tourism, trade,
technology, film and media sectors had led strong economic growth. With the
?dot com meltdown? and the events of ?September 11? these industries have
experienced substantial declines. Ironically, at this time several major
military and aerospace projects such as the new joint strike fighter and TRW?s
corporate campus project are anticipated to provide a substantial boost to the
local economy.
Despite the recent
downturn, the service sector is showing some signs of rebound. Occupancy rates
for area hotels have fallen about 16 percent from last year?s all time historic
highs but are stabilizing.
Several major retail
placements have recently occurred. Expo Design Center, a subsidiary of Home
Depot opened for business adjacent to the South Bay Galleria. This business is
anticipated to generate over $350,000 in local sales tax and employ over 125.
In the Harbor area, Blue Water Grill opened for business and on Artesia
Boulevard Clark Adams Windows and Doors began operations.
The first two mixed-use
(residential/commercial) projects are nearing completion. 1800 PCH which
consists of 98 detached condominiums and 19,980 square feet of retail space has
completed and sold 52 homes and leased two anchor tenants. Another project on
Avenue ?I? is in the process of leasing their ground floor retail and 12
apartment units on the upper two floors.
The ?Heart of the City?
project, an intensive planning effort to develop a Master Plan for a new
community center at the waterfront and up to 2,998 housing units, made
substantial progress throughout the year. In December 2001 the Planning
Commission unanimously recommended approval of the plan. On February 26, 2002
the City Council also voted unanimously to approve the plan.
Major initiatives to
improve the quality of life in the city have been launched. The city has
developed a new visual identity program and is in the process of developing
residential design guidelines to protect the character and quality of the
neighborhoods. On Artesia Boulevard and Inglewood Avenue a streetscape
improvement plan is being developed. Other initiatives include the development
of policies and recommendations on sustainable or ?green building? requirements
and affordable housing.
This year also saw
substantial progress on completing the objectives of the Economic Development
Strategic Plan. Among the more notable accomplishments were the completion of a
searchable business database, a business excellence awards program, and direct
assistance to over 24 businesses resulting in a net gain of 185 jobs and
$445,000 in local sales tax.
Major Employers:
500+:
TRW
200-499:
Crowne Plaza Redondo Beach
Cheesecake Factory
Douglas Furniture
Imperial Bank
Mervyn?s
Nordstrom
Robinsons May
South
Bay
Family Health Care
United States Post Office
Web Services Company
The City of Redondo Beach
The Redondo Beach Unified School District
Local Business Assistance Programs and Services and Incentives
Site Selection
The Redondo Beach Economic Development Division can assist you in locating a
site for your business which meets your particular selection criteria. Economic
development staff can also assist you by broadcasting your site criteria to a
well established network of commercial and industrial realtors.
Permit Assistance
For those unfamiliar with the process of obtaining permits for new construction,
tenant improvements or other specialized permits, the process can be
overwhelming. Information and assistance in streamlining the process can be
obtained from the Economic Development Division.
Zoning and Land Use Information
One of the important considerations in deciding on a location for your business
will be the consistency of the use with zoning. The Economic Development
Division can assist you in working with the Planning Department regarding
allowable uses. This information is also available at the City?s Website
here.
Business License
The City Treasurer?s Office is responsible for administering the business
license program.
Demographic Information
New 2000 Census Data and other demographic information is available on the
City?s website
here. For more detailed demographic information and market
research contact the City?s Economic Development Division.
Filming Permits
Redondo Beach is a popular location for filming activities. The City
Treasurer?s Office, Business License Division is responsible for issuing filming
permits. The Economic Development Division and the Harbor Department staff can
also be helpful in site location searches.
Temporary Events
If you are planning an event which will require the use of the public street or
require traffic or public safety personnel, you should contact the Planning
Department well in advance of the event to obtain a permit.
Temporary Signs
Temporary signs on private property require a permit from the Planning
Department and are limited in size and duration of display.
Commercial Rehabilitation Grants
Businesses located on Artesia Boulevard and Aviation Boulevard are eligible to
apply for a 60/40 (City pays 60%) grant program. The program can help you pay
for architectural fees, signage, façade improvements, code compliance work and
other upgrades. Each year all of the available funding is expended. Therefore,
you are advised to apply early. The program is administered by the Department of
Recreation and Community Services.
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