On June 20th, the World Trade Center Los Angeles (WTCLA) hosted its 9th annual Select LA Investment Summit in Long Beach, California.  

The Select LA Summit is designed to help investors, domestic leaders, and international businesses exchange insights about growth opportunities throughout the LA region. The WTCLA is a vital part of the Los Angeles County Economic Development Corporation’s (LAEDC) Five Pillar Strategy for Economic Development in the region, serving as its international delivery arm. Summits like Select LA function as anchors for the organization’s annual program of international engagement. Recognized as the first official spin-off event of the United States Department of Commerce’s Select USA Summit, Select LA is an essential platform for international business operators seeking practical intelligence to explore, start, or expand a business in Los Angeles.

This year’s summit theme was “Invest in Innovation.” From the stories told in Hollywood to the frontiers explored from Space Beach, innovative technologies and ideas find their feet in this economic juggernaut of a region. The spirit of innovation extends beyond national boundaries, and LA’s business community and workforce reflect that essential diversity. Sessions at this year’s summit touched on all aspects of what makes LA the nation’s innovation hub, including the region’s startup boom, supply chain innovation, partnership ecosystems and business support services.

This year, Dr. Richard (Zhen) Tang of CIBE conducted in-depth analysis by grouping FDI source countries and regions into four distinct investor profiles:

-              Titans
-              Prospects
-              Rising Starts
-              Untapped Horizons

This new analytical framework gives readers the capacity for much greater understanding of the underlying patterns of FDI in California, helping local governments and business communities develop more targeted and effective policies and strategies to customize their approach to FDI. The full results of the 2024 FDI Report can be found here. 

Southern California maintains its lead as the largest destination region for FDI within the Golden State, with 213,142 jobs supported by FOEs in LA County alone. LAEDC’s Vice President of Business and International Trade Development, Allison Clark, followed the launch of the report with a showcase of what FDI means for LA, exploring the details of what makes the region such an attractive destination for international investors: the LA Advantage! For more information on the LA Advantage and the support available to investors and businesses in the region, be sure to check out these tools and resources.

Luncheon Keynote Speeches

We were honored this year to welcome two phenomenal keynote speakers to discuss the innovation and investment landscape in Los Angeles, and the significance of our region’s international partnerships:

• Adam Spice, Chief Financial Officer, Rocket Lab

• Zaib Shaikh, Consul General of Canada in LA

Adam Spice shared invaluable insights into the journey of Rocket Lab from New Zealand to Long Beach. On June 21st, immediately following Select LA, the company successfully launched its 50th Electron missile deploying satellites for French Internet-of-Things (IoT) company, Kinéis. Rocket Lab and the Space Beach ecosystem are vibrant examples of the heights the innovation economy can reach in Los Angeles.

Canadian Consul General Zaib Shaikh serves as the Dean of the Los Angeles Consular Corps, the 3rd largest in the entire world behind only New York and Hong Kong. He shared with delegates reflections on the ongoing significance of the Los Angeles-Canada partnership and the dynamic trade, investment, and cultural landscapes in LA.  He also highlighted the benefits and opportunities available for businesses and individuals to engage globally.

Opening Remarks

We were honored to welcome our esteemed delegation of opening speakers to kick off this year’s summit:

• Jasjit Singh, Executive Director, Select USA*

• Stephen Cheung, President & CEO, LAEDC & WTCLA

• Matt Cowan, Partner, O’Melveny, and WTCLA Board Chair

• Erin Bromaghim, Deputy Mayor of International Affairs, City of Los Angeles

• Karen Bass, Mayor, City of LA*

• George Chen, Mayor, City of Torrance

• Kenko Sone, Consul General of Japan, LA

(* this speaker joined the event virtually)

Over the course of the day, delegates were invited to attend a set of fascinating plenaries and breakout sessions that delved into the details of the region’s innovation economy, providing international and local businesses with key insights into the region’s business landscape and investment potential.

PLENARIES and BREAKOUT SESSIONS

Morning Plenary - Invest in Innovation: From Silicon Beach, to Space Beach, and Beyond

In this session we embarked on a journey through the dynamic landscapes of innovation, from the sun-kissed shores of Silicon Beach to the frontiers of space exploration. We joined local leaders as they discussed the evolving investment opportunities that stretch beyond conventional boundaries, shaping the future of technology, entrepreneurship, and beyond.

Speakers:

• Ron Frierson, Director of Economic Development, Amazon (Western Region), and incoming LAEDC Board Chair

• Emily Desai, Deputy Director of International Affairs & Trade, CA Governor’s Office of Business & Economic Development

• Lucius Martin, Deputy Mayor of Economic Development, City of Long Beach

• Mark Pestrella, Director, Department of Public Works, LA County, and Chair of Infrastructure LA

• Julie Duhaut-Bedos, Consul General of France, LA

Breakout - Global Vision, Local Realities: Exploring LA’s Startup Boom

This discussion delved into the vibrant ecosystem of startups flourishing in the heart of Los Angeles County. We undertook a deep dive into the local realities of LA’s burgeoning startup scene, highlighting the factors driving its growth, challenges faced, and the opportunities ripe for investment in this diverse and dynamic landscape.

Speakers:

• Adrienne Lindgren, Senior Vice President for Unlocking Innovation, LACI

• Vivian Shimoyama, Chair of the Long Beach Accelerator

• Wade Martin, Director of the Institute of Innovation and Entrepreneurship, CSU Long Beach

• Jason Raney, Director of Recruitment, Vast Space

• Drew Busbee, Chief Operations Officer, Disruptive Technology Index

Breakout - Supply Chain Innovation: Revitalizing International Trade Post-Pandemic

Here we explored the transformative innovations reshaping global supply chains in the wake of the pandemic. From leveraging technology to enhance resilience to navigating new trade realities, this session offered invaluable insights into revitalizing international trade in the Los Angeles and Long Beach region which serve as the gateway to the U.S. market.

Speakers:

• Felipe Cusnir, Executive Director, WTC Long Beach

• Courtney La Bau, Commissioner, LAWA

• Avin Sharma, Senior Director of Workforce and Government Affairs, Port of Los Angeles

• Casey Hehr, Managing Director of Commercial Services, Port of Long Beach

• Carlos González Gutiérrez, Consul General of Mexico, Los Angeles

Breakout - Partnership Ecosystems:
Collaborations to Support LA Industries

In this session we explored the power of collaboration in driving innovation and growth across LA’s diverse industries. From forging strategic partnerships to fostering cross-sectoral synergies, this discussion illuminated the pivotal role of partnership ecosystems in fueling the success of LA’s thriving business landscape.

Speakers:

• Jermaine Hampton, Vice President of Workforce Development and Special Projects, LAEDC

• Stephanie Hsieh, CEO, Bioscience LA

• Carolyn Hull, General Manager of the Economic and Workforce Development Department, City of LA

• Tom O’Brien, Associate Dean, College of Professional and Continuing Education, CSU Long Beach

• Kayvon Moshiri, Investor at Ventures, Plug & Play
  

Breakout - Inside LA: What it Really Takes to do Business

Here we explored insider perspectives on the intricacies of doing business in Los Angeles. From navigating regulatory landscapes to tapping into local talent pools, this session offered practical insights and firsthand experiences from LA insiders, providing invaluable guidance for businesses seeking to thrive in Los Angeles County.

Speakers:

• Barbara Levine, Director of Business Assistance, LAEDC

• Dustin McDonald, Regional Business Development Specialist, LA and Orange County, CA Governor’s Office of Business & Economic Development

• Fran Fulton, Economic Development Manager, City of Torrance

• Tod Sword, Economic Development Consultant, Southern California Edison

• Bo Martinez, Director of Economic Development, City of Long Beach
  
  

Closing Plenary - Invest in International:
Global Trade for Local Growth 

We closed out this year’s conference with a candid conversation on the significance of global trade in driving local economic growth. This panel explored the opportunities and challenges of international investment, offering strategic insights for Angelenos into leveraging global markets to fuel local prosperity and innovation.

Speakers:

• Leah Goold-Haws, CEO, Long Beach Economic Partnership

• Kelly LoBianco, Director, Department of Economic Opportunity, LA County

• Andrea Sasse, Consul General of Germany, Los Angeles

• Okko-Pekka Salmimies, Consul General of Finland, Los Angeles

• Jinny Rhee, Dean of the College of Engineering, CSU Long Beach

Be sure to sign up for the LAEDC newsletter to stay up-to-date on events such as Select LA, the Eddy Awards, and Future Forums and to learn about the work of LAEDC and WTCLA’s other programs.

SELECT LA 2024 RESOURCES: