LOS ANGELES, July 12, 2022--(BUSINESS WIRE)--Today the Los Angeles County Board of Supervisors approved a motion by Supervisor and Chair of the Board Holly Mitchell, which will help focus County resources on growing LA’s life sciences industry. As the fastest growing segment of Los Angeles’ economy, LA County’s life sciences sector employs nearly 100,000 people and is home to 20% of all direct life sciences jobs in California.
Today’s action will allow the County of Los Angeles to continue their investments into life sciences in the region and incentivize creation of quality jobs for hard-to-hire populations. The County will be focusing on creating business opportunities for local firms to innovate in the County, stay and grow in the County and hire locally.
In partnership with Biocom California’s LA office, the County will work to support the start-up ecosystem, build out talent pipelines, and leverage County land-use authority to site and expand quality life sciences employers that generate high-quality, well-paying jobs for workers of all educational attainment levels.
"Supervisor Holly Mitchell’s leadership on directing the County of Los Angeles to continue its support of and investment in our industry is of critical importance to our industry members," said Biocom California’s LA Executive Director Stephanie Hsieh. "LA County is leading the way and setting an example for other counties and municipalities across California, and we are proud to partner in this effort."
Sup. Mitchell’s motion directs County departments:
to report back in 90 days with a "Life Sciences Cradle to Career" employment pipeline from local communities with populations underserved in the life sciences industry;
to develop a suite of financial incentives, at no additional cost, to provide support and technical assistance to small life sciences firms who are navigating the start-up and expansion process, including tax incentives for start-up costs and for hiring those with barriers to employment; business development services; and customized on-the-job training for current and future workforce;
to create a structure for tenant improvement funds to build out life sciences spaces and upgrade existing spaces for firms that agree to hire locally. The fund will include guidelines for anti-displacement measures for both local residents and businesses;
to designate a "Life Sciences Ombudsperson" to triage and streamline jobs that create life sciences development and report back to the Board in 120 days with an implementation plan;
to explore innovative approaches to zoning in industrial areas that would serve to create jobs and incentivize the siting of life sciences firms modeled after the San Diego Employment Mixed Use Zones; and
to resume good faith collaboration and negotiation with the Lundquist Institute at Harbor-UCLA Medical Center Campus to advance development of a biotechnology park that would incubate new life sciences firms.
"We applaud Supervisor Mitchell and her colleagues for taking a strong and holistic approach to create opportunities to invest in and support the growth of the life sciences in LA County," said Joe Panetta, president and CEO of Biocom California.
Added Hsieh, "By focusing the County resources on our industry, and ensuring that issues of local hire, non-displacement, and equity in opportunity in underserved communities are top of mind, Supervisor Mitchell is highlighting the critical role that the life sciences industry can play in our local economy."
About Biocom California | Los Angeles
Biocom California is the largest, most experienced leader and advocate for California's life science sector. Our Los Angeles office aims to build the networks that are critical to growth in this thriving regional ecosystem. Our targeted programs and customized services are tailored to the specific needs of the greater Los Angeles region. We work on behalf of more than 1,600 members to drive public policy, build an enviable network of industry leaders, create access to capital, introduce cutting-edge STEM education programs, and create robust value-driven purchasing programs.
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