Lancaster has been named one of L.A. County’s Most Business Friendly Cities by the Los Angeles County Economic Development Corp.

The Antelope Valley city received the Eddy Award in the category of cities with a population of greater than 50,000. The other finalists were Santa Monica, Glendora, Paramount, and Pico Rivera.

The 18th annual awards event took place Thursday evening at the Beverly Hilton in Beverly Hills, where La Mirada was recognized as the county’s most business friendly smaller city.

The LAEDC noted Lancaster for keeping costs and fees down to attract new businesses, its downtown revitalization project that has created new jobs and a streamlined permit process.

LAEDC Chief Executive Bill Allen said that Lancaster and La Mirada understand that domestic and lobal competition for business and jobs has never been fiercer.

“The City of Lancaster vigorously competes by training its residents for tomorrow’s jobs, not for yesterday’s; and by supporting its start-up sector, which will drive the city’s economic growth in the future,” said Allen, in a prepared statement.

The LAEDC began the competition seven years ago to boost competition among the county’s 88 cities and stimulate economic development and job creation. Winners must demonstrate a commitment to economic development, show they are able to retain businesses and keep business taxes and fees competitive.

“We are truly honored,” said Lancaster Mayor R. Rex Parris. “We will continue to work side-by-side with our stellar business community to ensure that our city remains the Most Business-Friendly.”

Lancaster was previously recognized for the same award in 2007.