2012 Downtown Long Beach Economic Profile Released by DLBA

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The Downtown Long Beach Associates (DLBA) released the 2012 Downtown Long Beach Economic Profile, which aides investment in Downtown Long Beach includes newly available information that reflects the last decade of growth and prosperity experienced in Downtown Long Beach, in an announcement made today by DLBA President and CEO Kraig Kojian. The full 2012 Economic Profile, as well as a presentation detailing the importance and utility of the information, are available for download at www.downtownlongbeach.org.

Utilizing recently released block group level data from the 2010 Census, DLBA staff worked diligently to sort and analyze the data, resulting in a comprehensive, accurate snapshot of the current demographic composition of the Downtown community in a reader-friendly publication. This resource will translate into new opportunities for Downtown Long Beach to attract business interests.

“This is the first time this data has been available for analysis and it has the potential to attract new businesses and investment to our community,” said Kojian. “Aside from assisting in recruitment efforts, the new data allows the 2012 Economic Profile to illustrate the phenomenal growth we knew Downtown had been experiencing in an easily-digestible format.”

In addition to the longstanding components such as demographics, new development, employment, tourism and housing, the 2012 Economic Profile has been expanded to include new detail on the psychographic tapestry of Downtown, retail spending potential, and information on Downtown planning and zoning.

Statistics from the 2012 Economic Profile demonstrate that Downtown residents are earning higher wages; the area is attracting the well educated, while home values are increasing, and much more.

“Investors, particularly retailers, use this type of data to develop modeling projections to determine the viability of potential locations,” said Ken Hira, State Director of the California chapter for the International Council of Shopping Centers (ICSC) and Senior Vice President of Kosmont Companies, a firm which assists clients in the formation and management of public/private partnerships for community development and redevelopment. “These types of analyses will position Downtown Long Beach to be more competitive for retail investment, and the 2012 Economic Profile answers virtually every question that a retailer might ask.”

For more information about the DLBA, its events and services, please visit www.downtownlongbeach.org or call (562) 436-4259.

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