The domestic economy will grow by three percent this year, and about the same next year. Tourism, trade, and TV and film production will help the Southland get through a period of slow growth. That’s the forecast from the L.A. County Economic Development Corporation.
Many people call Jack Kyser the “guru of the Los Angeles economy.” He’s the chief economist of the LA Area Chamber of Commerce who joined the Economic Development Corporation 19 years ago.
At that time, downsizing was the norm in the region’s aerospace industry, and three years later, the Northridge earthquake hit.
"And I actually got a media call after the earthquake and somebody saying, in gloating fashion, 'this is the end of Los Angeles, isn’t it?' And you sort of have to hold your tongue and tell people, 'you really don’t understand this place.'”
Kyser has always maintained that the Southland’s economy has a lot of assets. If managed strategically, he says, they can help the region not only survive tough times like these, but thrive.
Kyser’s retired from full time work with the Corporation. But he’ll serve as chief economic advisor to the Southern California Association of Governments.