‘The 21st Century Economy’

GREUEL My ties to the San Fernando Valley run deep. I was born, raised and educated here in the Valley. My family chose to build our business here 66 years ago. And my son attends a local Valley public school. I’m also honored to have had the privilege of representing the 2nd District on the Los Angeles City Council for seven years. The Valley is my home, and it’s a great place to live and work. Yet I’m extremely concerned that the Valley and the rest of Los Angeles are falling behind every other large U.S. metropolitan area. Businesses are moving away, we’ve got double-digit unemployment and core services have been cut. I’m running for mayor because I want our city to be the best it can be – and I’m not satisfied with the status quo. As the only candidate with experience as a leader in the private and public sectors, I know what it takes to lead Los Angeles forward. As mayor, I will implement a strategic economic development plan that will work for and with business, not against business. I know from personal experience that the private sector is the true engine of job growth. That’s where we can create the lasting opportunities that will put Los Angeles back to work. First, we’ll begin by cutting the bureaucratic red tape that’s making it more difficult to do business here. We’ll expand and reform one-stop shops to get rid of the labyrinth of regulations that block progress for small business. Additionally, our business tax is higher than other local Southland cities – putting Los Angeles at an economic disadvantage when it comes to attracting and retaining businesses. It’s also unwieldy and taxes business owners even when they lose money. So as our local economy improves, I will explore several fiscally responsible options to phase out the business tax and jumpstart our economy. I will build upon the hard work performed by the Business Tax Advisory Committee and will also follow the expert counsel of local economists. We’ll set specific milestones and hold ourselves to them – if we don’t meet the revenue requirements we set, we’ll put the phase-out on hold until we get there. As the architect of the historic business tax reform in 2006, I know this can be done – even though many said it would fail. In the end, we restored $100 million to L.A. businesses and helped grow our economy. Second, we’ll institute a true local preference program. According to a report from the Commission on Revenue Efficiency, the city spends around $1 billion annually on contracting. Yet only 16 percent is spent locally. This is a wasted opportunity to reinvest in our city and our businesses, especially considering the breadth of businesses that we have in our city. As mayor, I will make sure that when we define local, it truly means the City of Los Angeles, not the county. Third, my plan will hold economic development agencies accountable to ensure that we’re fully utilizing the city’s existing, but notoriously underperforming, industrial zones and real estate – particularly here in the Valley. The city needs to be a good partner with the private sector to help generate the jobs and economic development that we desperately need. We’ll also tackle runaway production – because it’s not just about the people in front of the camera, it’s also the people behind the camera who help keep our economy strong. That means continuing the work I’ve done as a member of the California Film Commission, calling on state leaders to increase tax credits to keep film development in California. But as a proud Los Angeles United School District mom, I also know that a business-friendly climate isn’t the only thing that makes a city thrive. It’s also about a world-class education system that provides our children and graduates the knowledge and the skills needed to compete in the 21st Century economy. It’s about a world-class transportation network that reduces congestion and a modern infrastructure that enables the efficient movement of goods, particularly to and from the port. And it’s about safe neighborhoods, paved streets and clean public parks. That’s why we will need to make sure we continue to invest in the city’s core services with new revenues. I strongly believe this mayoral election is about the future of Los Angeles. It’s about which candidate will stand as the independent and bold leader we need. And who has the best ideas to restore L.A. to greatness. I am that leader. Wendy Greuel is controller for the City of Los Angeles and a candidate for mayor.