Why LA?

For over a hundred years Los Angeles has been one of the most effective growth machines ever created. This area of the West Coast is blessed with abundant opportunity for prosperity, a good climate, and great natural beauty, such as can be found nowhere else on earth. The region has a distinct entrepreneurial culture and a depth of intellectual curiosity that makes it a place of constant discovery, and a place of almost continuous growth. Until every acre of this earthly paradise is occupied, people will continue to move here.

The story of Southern California is largely an epic of real estate investment and development. It has been real estate development and associated activities -- buying, subdividing, building, selling, and finance -- that have propelled Los Angeles into a great metropolis, making it one of the largest cities in the United States. The desire to own property is fundamental to the American experience -- both in reality and in myth. This myth of the good life is embodied in LA. The allure of it shimmers in the air -- an outdoor Mediterranean life style, one of the nation’s largest and most vibrant economies, and an opportunity for everyone to own his own piece of the dream.

Consider the following facts:
  • Los Angeles County is the world’s 18th largest economy.
  • The LA five-county area is the world’s 11th largest economy in gross domestic product, ahead of the Netherlands, South Korea, and Mexico, and just behind Canada, China, and Spain.
  • With about 200,000 small business, Los Angeles is the entrepreneurial capital of the world. That’s nearly twice as many small businesses as can be found in any other region of the United States.
  • As a manufacturing center LA ranks second in the country, behind only Chicago, and ahead of Detroit, New York, Philadelphia, and Minneapolis / Saint Paul.
  • On the basis of population, Los Angeles County would be the ninth largest state in the United States. The LA five-county area is only less than that of California, Texas, and New York. Its population, 15 million, is greater than that of every other state.
  • LA is the largest retail sales market in the country, with $75 billion in sales in 1996.
  • Los Angeles is the largest international trade center in the United State. In 1996 LA county led the nation, with two-way trade over $170 billion through the LA Customs District.
  • Los Angeles International Airport is the third largest airport in the world.
  • Los Angeles / Long Beach harbor is the largest and busiest port complex in the United States.
  • LA’s technology industries have four times the gross domestic product and diversity of Silicon Valley.
  • Los Angeles is the world’s entertainment center, where every day there are a hundred TV and movie production crews on location.
  • LA has 1.2 million college graduates in a labor force of 7.4 million.
  • LA had 23 million tourists and other visitors in 1996 who spent $10.5 billion.
  • Los Angeles comprises 88 vibrant and diverse cities, and many more smaller communities.
  • LA’s lifestyle is the envy of the world.
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The top 14 industries in the Los Angeles area:

Business and professional management services
Health services
Tourism
International trade
Wholesale trade and distribution
Technology, telecommunications, and aerospace
Motion picture and television production
Financial services
Apparel design and manufacturing
Agriculture and food production
Furniture manufacturing and wholesaling
Auto parts manufacturing and wholesaling
Petroleum production and refining
Toy manufacturing and wholesaling

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A Place Where Dreams Come True

LA is a fantastic place to live. People here share the dream of opportunity and adventure in a climate of year-long outdoor living, especially remarkable for its winters with lots of sunshine. The region has a unique combination of ocean, beaches, desert and mountains.

Los Angeles is a very large market in its own right, and it’s still growing. It has a diversified economic base and excellent access to national and international markets. LA is a leader in technology, engineering design, environmental technology, and health services; a leading tourist destination; a transportation leader; an excellent environment for entrepreneurs; a major cultural center; a major center for higher education; a major force in the entertainment industry; and renowned for its weather and geography.

For more than one hundred years, since the first large-scale real estate boom in the late 19th Century, countless thousands of people have come to seek their fortune in Southern California. Indeed, countless thousands of people have done just that - made their fortune in Los Angeles. It is a place where dreams can and do come true. Now, on the threshold of the 21st Century, the dream is as alive as ever. Opportunities abound here for those with the energy and the will.

Useful Links

Los Angeles County Economic Development Corporation: http://www.laedc.org
LA Profile (City of Los Angeles): http://www.ci.la.ca.us/labasics.htm
California Business, Transportation and Housing Agency: http://www.bth.ca.gov
California housing market and real estate trends: http://www.car.org/


Los Angeles Real Estate Success Stories  |  A Short History of Los Angeles Real Estate  |  Land Use and Society in America

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Tierra Properties, 11866 Wilshire Blvd., Los Angeles, CA 90025, USA
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