On April 27, World Trade Center Los Angeles (WTCLA) hosted its 8th Annual Select LA Investment Summit in Pasadena, which served as first-time host city.  

The Select LA Summit is designed to help investors, domestic leaders, and international businesses exchange insights about growing opportunities in sustainability throughout the LA region. The WTCLA and the Select LA Summit are vital parts of the Los Angeles County Economic Development Corporation’s (LAEDC) Five Pillar Strategy for Economic Development. This year, sessions focused on advanced mobility, digital media, space, and biotech. By bringing global companies to invest in the region, we can attract more well-paying jobs and support local ancillary vendors and industries.

"As our economy continues to rebound from COVID-19's many disruptions, we are seeing that California and Los Angeles remain attractive investments for foreign companies looking to open-up-business or to expand their footprint in the United States, the largest consumer market in the world," said Stephen Cheung, President and CEO of the World Trade Center Los Angeles. "Foreign direct investment is important to economic growth because it infuses additional capital into our region and provides well-paying jobs for our communities. Understanding what countries are here and how they have invested provides valuable insights into how global firms make key business decisions. We can also use this information to attract more international companies into our region." 

Overall, the 2023 FDI Report shows that Southern California's 10-county region is the primary location for the state's foreign direct investment,   

• With more than 11,000 FOEs, and   

• These firms employ more than 400,000 Californians. 

Dr. Tang also provided valuable insights into the locational preferences of industries that companies look for when investing in other countries. He also spoke about how apparent upfront cost savings do not lead to higher productivity down the road, highlighting that while California is not the cheapest place to open a business, companies see higher productivity rates than all other U.S. states. 

During the Summit, the World Trade Center Los Angeles and City of Los Angeles’s Office of International Trade presented the International Business Award to the Bike Shed Moto Company, a U.K. company that opened in the L.A. Arts District during the COVID-19 pandemic. Owner Anthony “Dutch” van Someren noted how the network in Los Angeles County provided the support he needed to open Bike Shed and grow our regional economy.  

During the Select LA Summit, attendees learned directly from regional leaders about the value of bringing their companies and investment into the region. Six discussions were held about Higher Education, Digital Media & Entertainment, Bioscience & Tech, Aerospace & Defense, Mobility and Infrastructure, and Leveraging Regional Partnerships for Economic Growth (moderated by EastWest Bank).  

Higher Education: How LA’s Talent Development Catalyzes The Global Economy

Home to one of the largest populations of international students in the United States, colleges and universities are the heart of Los Angeles's ability to cultivate alums and grow international business connections. This plenary discussion featured the heavy hitters in our regional economy as they discussed how they are working to create the workforce of tomorrow. Chancellors Folt, Block and Rodriguez spoke about international partnerships, not just for recruiting new students but also for spurring innovative thinking and being conduits of international knowledge exchanges.   

• UCLA Chancellor Gene Block 

• USC President Carol Folt  

• LACCD Chancellor Francisco Rodriguez 

• Stephen Cheung, President & CEO, WTCLA & LAEDC 

Frontier Health: Biotech & Life Sciences

The Bioscience panel highlighted the challenges and opportunities facing the industry in Los Angeles County. Panelists shared that there is a need to secure available real estate for manufacturing and wet lab facilities and collaborate with the County government to ensure the regulatory environment supports the industry’s needs. Rohit Shukla, Founder and CEO of the Larta Institute, described current industry strengths as its ability to hire workers who do not hold bachelor’s degrees and how it aims to leverage new technologies to develop innovative healthcare solutions. The accessibility of employment, future in healthcare, and strong nucleus of companies and nonprofit organizations within the County revealed a great opportunity to grow the Bioscience industry in the Los Angeles region.

• Patrick Church (Moderator) Managing Director, Jones Lang LaSalle Brokerage, Inc.  

• Joseph Panetta, President & CEO, Biocom California 

• Rohit Shukla, Founder & CEO, LARTA Institute 

• Dave Whelan, CEO, Bioscience LA 

Frontier Mobility: People, Vehicles & Goods

With the upcoming 2026 FIFA World Cup and 2028 Olympics, there is a growing focus on investing in innovative technologies and sustainable infrastructure to support more efficient and accessible transportation systems.This panel on the future of mobility discussed the need for sustainable transportation solutions and highlighted Los Angeles' efforts to prepare for a future of mobility that reduces emissions and improves accessibility. The discussion centered around the intersection of autonomous and electric vehicles, public transit, and sustainable infrastructure, and the need for a comprehensive and integrated approach to mobility.  

• Blair Schlecter (Moderator), Director of BizDev & Programs, Stantec  

• Justine Johnson, Mobility Expert

• Ellie Casson, Head of City Policy & Govt Affairs, Waymo 

• John Rossant, CEO of CoMotion, Chairman of New Cities Foundation 

Frontier DME: Digital Media & Entertainment

Los Angeles is home to Hollywood, and it is also home to numerous opportunities for collaboration and technological advances. This panel discussion looked beyond the screens and focused on how companies can work internationally to share more reflective stories and make the experience more inclusive. Focusing on technologies that allow for rapid accessibility and improving infrastructure, this amount of opportunities, especially as more studios and gaming developers are looking to expand the reach of their I.P.s to be used across multiple devices allowing expanded world-building and additional access points for consumers.  

• Jermaine Hampton, Senior Director of Workforce Development & Special Projects, LAEDC 

• Jean de Rivieres, Executive Producer & SVP Development, Ubisoft 

• Brian Hirsch, FAST Channel Partnerships Advisor,  KDMG and Adjunct Lecturer, USC Annenberg

• David Mulhall, Global Head of Business Development & Partnerships, Riot Games 

• Amy White, Executive Director, Content Localization, Warner Bros. 

Frontier Space: Aerospace, Defense & Space Commercialization

Innovative companies are looking at green solutions for getting into space, providing broadband access to remote communities, or the next step in exploration; space has never been more important – or potentially lucrative. While international countries have tended to stay quiet about their national space programs, international companies were presented with ways to work with international companies through investment and partnerships that cross borders and can advance the field and move humanity further toward the Moon, planets, and the stars.  

• Joe Ahn (Moderator) Manager, Government Relations Strategy & Development-Corporate Headquarters, Northrop Grumman Corporation 

• David A. Bearden, Manager, Offices of Formulation & Strategic Planning, Jet Propulsion Laboratory 

• Elizabeth Reynolds, Managing Director USA, Starburst Global Accelerator (FR) 

• Jonathan Yaney, Founder & CEO, SpinLaunch 

Closing Plenary: Understanding How to Leverage Public Resources to Maximize Business Growth

With more than 88 cities and more than 100 unincorporated areas within Los Angeles County, companies must develop partnerships and strategies that are regional rather than hyper-local. Kelly LoBianco spoke about how multiple public resources within Los Angeles County can help support culturally competent strategies that provide community engagement rather than solely community outreach. Emily Desai provided a statewide perspective with information on the partnerships they can facilitate to ease the process within different regions, including how GoBiz works with WTCLA to expand opportunities for FOEs to open their doors and hire local employees. 

• Travis Kiyota (Moderator) SVP, Head of Global Corporate Affairs, East West Bank 

• Emily Desai, Deputy Director of International Affairs & Trade, GO-Biz 

• Kelly LoBianco, Director, Los Angeles County Department of Economic Opportunity 
  

Other speakers throughout the day included: 

• Mayor Karen Bass*, City of Los Angeles 

• Aram Benyamin, COO, LADWP 

• Stephen Cheung, President & CEO, WTCLA & LAEDC 

• Mayor Victor Gordo, City of Pasadena 

• Andy Wilson, Executive Director, Alliance for SoCal Innovation    

• Steve Olson, Board Chair, LAEDC & Partner, O'Melveny 

• Councilwoman Traci Park, City of Los Angeles 

• Tom Barry, WTCLA Board member & Managing Partner of GHJ Advisors    

• Jasjit Singh*, Executive Director, Select USA 

• Baron Davis*, Founder of Baron Davis Enterprise, NBA All-Star, Entrepreneur & Investor 

• Kendal Turn, CFO, LAEDC 

• Noel Hacegaba, Deputy Executive Director and Chief Operating Officer of the Port of Long Beach 

• Dr. Dayle Smith, WTCLA Board of Advisors & Dean of LMU Business School 

• Christine Petersen, Director of International Trade & Investment, City of Los Angeles 

*This speaker joined the event virtually 

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