Japan, number two trading partner has huge impact on Calif., SoCal studies find

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As the world remains shocked and saddened by the images coming out of Japan today and as the West Coast keeps a vigilant eye on the tsunami reports there is also concerns about financial costs.

(Downtown LA courtes LAEDC study)

The Los Angeles County Economic Development Corporation (LAEDC) recently released a new report, “Growing Together – Japan and Los Angeles County”. The report describes many of the close ties that have developed between Los Angeles County and Japan, the number one source of foreign direct investment into L.A. County.

(Courtesy LAEDC US Japan study)

U.S. – Japan trade has increased dramatically over the past 50 years jumping from $3.2 billion to $211 billion at its peak in 2000.

Japan is the second largest trading partner of the Los Angeles Customs District with the ports of Los Angeles and Long Beach together handling nearly 25 percent of total trade between Japan and the U.S. The report also documents the growing importance of foreign direct investment in this relationship, reviewing both investments made by Los Angeles area business firms in Japan and Japanese investments in Los Angeles County.

To discuss their investments made in the region, the LAEDC’s Economic Forecast event was held at the Los Angeles Marriott on Feb. 16, and featured a panel of speakers from well-known Japanese companies. Representatives from Honda Motors, Union Bank and Yakult, makers of probiotic beverages, will discuss the significant impact of Japanese companies on the L.A. County economy. For more information about the Forecast,

visit:http://laedc.org/newsroom/releases/2011/Forecast-2011-02.pdf.

About LAEDC (www.LAEDC.org)

The Los Angeles County Economic Development Corporation (LAEDC), the region’s premier economic development organization, is a private, non-profit organization established in 1981.  Its mission is to attract, retain, and grow businesses and jobs for the regions of Los Angeles County.  Since 1996, the LAEDC has helped retain or create more than 163,500 jobs, providing $8 billion dollars in annual economic impact and more than $136 million dollars in annual tax revenue to support local government and schools.

[Editors: The LAEDC Annual Economic Forecast report can be downloaded at

http://laedc.org/newsroom/releases/2011/Forecast-2011-02.pdf.

The Japan study can be downloaded

at

http://www.laedc.org/newsroom/releases/2011/GrowingTogether_Japan_2011.pdf.

Media, please call George McQuade or Aida Mayo for interviews: 818-340-5300 or 818-618-9229 or emailPublicity@MayoCommunications.com.]