Media & Entertainment (DME) Council. Business assistance services LAEDC’s Business Assistance Program team (BAP) offers confidential, free-of-charge consulting to large and small businesses and microenterprises, domestic and international businesses across all industry sectors and business types. Strategic consulting Access to capital Assistance with cost containment Assistance with tax credits and incentives for businesses in California Marketing strategy consulting Assistance with workforce development Permit Utility rate reduction Assistance accessing procurement opportunities Business attraction, retention and expansion COVID business recovery resources Business Resilience Resources Foreign Direct Investment and Attraction The World Trade Center Los Angeles (a subsidiary of LAEDC) connects innovative companies in key, emerging industries and helps facilitate foreign direct investment (FDI). The World Trade Center Los Angeles was the first World Trade Center to be designated a public-benefit organization. According to the World Bank “Foreign firms might not create as many jobs as the domestic private sector, but they often create better-paid jobs that require higher skills. That helps elevate the skills level in host economies. The same can be said for other FDI benefits. For instance, more advanced technologies and managerial or marketing practices can be introduced in a developing economy through foreign investment, and at a much faster rate than would be the case if only domestic investment were allowed.” In 2021, foreign-owned enterprises provide 196,820 jobs and $17,953 million in estimated wages in Los Angeles County. Workforce Development LAEDC’s workforce development program exists to create economic mobility and equity, support the talent needs of business, and align education with evolving industry trends. The LAEDC workforce development includes the Center for a Competitive Workforce partnership with the region’s 19 community colleges, that integrates LAEDC’s research, industry cluster work, business assistance and intelligence as the locus of strategic, programmatic, public policy, and transactional activities to strengthen the Los Angeles Region’s talent development ecosystem and meet \ changing labor market demands. Recent initiatives The LAEDC is a founding board member of the Southern California Leadership Council. The LAEDC is a founding member of Clean Tech Los Angeles, which in October 2011 founded the LA Cleantech Incubator. LAEDC was the lead applicant for the U.S. Economic Development Administrations Build Back Better program. LAEDC partnered with 19 regional community colleges to fund the Center for Competitive Workforce. LAEDC -along with UNITE-LA – are the convener of LA DEAL the California Public Utilities Commission’s sole Broadband Regional Consortia for the Los Angeles region.