In a recent tour stop focused on economic recovery post-firestorm, Governor Gavin Newsom has earmarked a substantial $24 million investment to aid Los Angeles's resurgence. The funding announcement was made during Newsom's Jobs First tour, where the Governor presented the California Jobs First Economic Blueprint and endorsed the Los Angeles County Jobs First Regional Plan. The invested funds are set to fortify infrastructure, support small businesses, provide disaster response, and bolster worker initiatives in the region.
$10 million of these funds are in collaboration with LA Rises, Maersk, and APM Terminals, going to the LA Region Small Business Relief Fund—a grant program operated by the City and County of Los Angeles to deliver direct financial aid to the businesses and nonprofits hit by the firestorms. This initiative is the brainchild of LA Rises, a unified recovery effort launched in January and spearheaded by influential figures, including Dodgers Chairman Mark Walter and basketball icon Earvin "Magic" Johnson. In a statement, Mayor Karen Bass thanked Governor Newsom, underscoring the importance of not only returning residents to their homes but also ensuring local businesses receive the necessary support.
An additional $3 million is headed toward the Los Angeles Jobs First Collaborative, poised to advance public campaigns in support of small businesses and foster economic recovery. Los Angeles County Chair Kathryn Barger highlighted the local economic benefits stemming from such investments focused on workforce enhancement. Moreover, $11 million will fuel High Road Training Partnerships with workforce organizations rooted in LA, aimed at addressing the training needs of the local workforce.
Senator Sasha Renée Pérez expressed optimism about the Jobs First Economic Blueprint's potential for creating jobs and increasing accessibility to job opportunities, particularly through career education. She pointed out the crucial role this plan plays in small business recovery from the recent wildfires, according to a gov.ca.gov interview.
Voices from the business community also weighed in on the economic initiative, with Stephen Cheung, President and CEO of the Los Angeles County Economic Development Corporation, praising the state's leadership and the direct support provided to the local economy's backbone—small businesses. The $3 million investment is projected to create quality jobs and economic opportunities, particularly for communities that face the brunt of such economic upheavals. Echoing these sentiments, Tracy Hernandez, CEO of BizFed & New California Coalition, commended the Governor for converting discussions into definitive, timely funding meant to supercharge LA's rebuilding efforts after the firestorm calamity.
