Poor economy curbs business expansions, study says

The number of major business expansions in Southern California during 2007 declined by 17.5 percent as a result of the sagging economy and industrial and office markets, according to a report released today by the Los Angeles County Economic Development Corp. According to the report, there were 203 major business expansions — defined as a new lease or expansion of at least $1 million in value or 20,000 square feet or more of space — in Southern California last year. “The region’s ultra-tight industrial real estate markets have had an impact on expansion trends,” LAEDC chief economist Jack Kyser said. “Many people are unaware that `industrial’ space is used not just by manufacturing, but logistics and warehousing, printing and publishing, and even the motion picture production industry.” For the full story visit http://www.dailynews.com/breakingnews/ci_8849921