Nancy D. Sidhu, Ph.D. Chief Economist The Kyser Center for Economic Research LAEDC

Transcription

1 Japan & Los Angeles County Growing Together Nancy D. Sidhu, Ph.D. Chief Economist The Kyser Center for Economic Research LAEDC February 16, 2011

2 Japan & Los Angeles County Growing Together Introduction Historical i Ties Educational Ties Cultural and Network Ties Trade Ties Investment Ties Business Ties What s Next Conclusion

3 Japan Real GDP Annual % Change Sources: World Bank and International Monetary Fund (IMF)

4 L.A. County Real GDP Annual % Change Source: IHS Global Insight

5 Los Angeles County: Ranked #1 in the U.S. Population 10.4 Million Asian Population Over 1.4 Million Japanese-Americans At least 102,000 Asian-owned Businesses Nearly y4 40,000 Prof/Scientific/Tech Services -- Over 247,000 Employees 2010 LACD Total 2-Way Trade Value -- $347 Billion

6 Los Angeles County: Some Things Born in the L.A. Area The Internet, The Space Shuttle & Douglas DC-3 Disney Characters & Barbie Doll Modern T-Shirt

7 Los Angeles County: Growth Projections Population 11.5 Million by 2025 Per Capita Income $75,000 in 2025 Gross Product nearly $1 trillion in 2025

8 Population Chronology st Japanese Immigrants Arrive in the Territory of Hawaii st Japanese Arrive in U.S. Mainland Japanese Residents in U.S. (Mostly in California) 1900 Southern California 500 Residents (Mostly in L.A. County) 1930 L.A. County Had the Largest Japanese Population at 35,000, California at 100, Close to 80,000 in L.A. County and 160,000 in California Present Japanese population p at least 102,000 in L.A. County

9 Geography Japanese Communities Little Tokyo Suburban Japanese Communities Torrance Gardena Monterey Park Sawtelle Area/Little Osaka Sister Cities Los Angeles Nagoyaa Torrance Kashiwa Long Beach Yokkaichi Pasadena Kasukabe Gardena -- Ichikawa

10 Educational Ties At least 1,000 Japanese students enrolled in LA County Universities (AY ) Of these, 291 at UCLA and USC Also, over 2,300 Japanese-American students Plus, Many, Many Japanese Alumni

11 Key Cultural Venues Japanese American National Museum 20 Public Japanese Gardens in LA County Temples Jodo Shinshu, Jodo Shu, Shingon, and Soto Zen

12 TV, Radio, Newspapers & Magazines KSCI Channel 18 KXLA Channel 44 Radio Japan AM 1580, KALI FM Japanese Daily Sun (Nikkan San) Rafu Shimpo Kamai Forum Cultural News & JiJi Press America Bridge USA Magazine Weekly LaLaLa & Lighthouse Magazine

13 Associations and Organizations Consulate General of Japan in Los Angeles Japan External Trade Organization (JETRO) Japan Business Association o of Southern California a (JBA), Japan America Society of Southern California (JAS), Japan Foundation, Asia Society, and the U.S.-Japan Council World Trade Center Association Los Angeles-Long Beach (WTCA) Los Angeles County Economic Development Corporation (LAEDC) Foreign Trade Association (FTA) Los Angeles Area Chamber of Commerce U.S. Department of Commerce U.S. Commercial Service

14 LACD 2-Way Trade with Japan* Billions of $ *Includes Imports for Consumption Source: U.S Census Bureau, USA Trade Online

15 What Comes to the U.S.? LACD Top 5 Imports from Japan Vehicles & Auto Parts Computers, Peripherals & Machinery Electrical Equipment & Electronic Components Optical & Medical Instruments Rubber & Rubber Products

16 What Goes to Japan? LACD Top 5 Exports to Japan Optical & Medical Instruments Aircraft & Parts Computers, Peripherals & Machinery Electrical Equipment & Electronic Components Plastics & Plastic Products

17 Through Which Ports? 16.3% 0.3% Share of Way Trade Value 17.1% 66.2% POLA POLB LAX Other Source: U.S. Census Bureau, USA Trade Online

18 FDI LAEDC Survey Results: The Business View Japanese-Owned Establishments in L.A. County* Total 1,413 Retail Trade 471 Wholesale Trade 362 Finance & Insurance 110 Japanese-Owned Establishments By City* Los Angeles 454 Torrance 199 Long Beach 75 *Also includes affiliated business establishments.

19 FDI LAEDC Survey Results: The Workers View Employment Impact Direct Employment = 49,600 jobs Total Annual Payroll = $2.6 Billion Average Wage = $65,900 Source: LAEDC, Foreign Direct Investment in Los Angeles County estimates

20 FDI On the Ground The Lists L.A. County Based Companies Present in Japan Fortune 500 Companies Key Industry Cluster Companies Others Japanese Companies with U.S. or North American Headquarters in L.A. County Toyota Motor Sales, Honda, Mitsubishi UFJ Financial Group (Union Bank), Alpine, Asahi Beer, Epson, Kenwood, Kirin Brewery, Makita, Pioneer, and Yakult Airlines All Nippon Airways (ANA), Japan Airlines (JAL) Others The Lists are Living Documents Please Contact us with Changes or Additions

21 What s Next? L.A. County Strategic t Plan for Economic Development WTCA LA-LB Strategic Targets Green/Clean Tech Automotive Alternative/Renewable Energy Healthcare and Biotechnology Other Opportunities Food, Entertainment, Education, and Digital Media

22 Conclusions L.A. County & Japan Are Growing Together A Special Relationship Based on Cultural, Personal, Economic and Business Ties Centers of Innovation and New Technologies Leaders in Renewable Energy and Climate Change What Does L.A. County Offer Japanese Investors? Huge Market, Trade Infrastructure, Talented Workforce Tech Rich Area, Largest Manufacturing Base in the U.S. Largest Japanese-American Community in the U.S. Competitive Costs

23 Conclusions What Does L.A. County Gain from Japanese Investment? Sharing new technology and knowhow positions L.A. County industries for the future Green/Clean Tech Healthcare lh and Biotech Digital Media L.A. County manufacturers benefit from Japanese advances in innovation and technology Japanese FDI brings to L.A. County: More businesses, more employees, and more tax revenues

24 Thank you & Stay informed! Growing Together: Japan and Los Angeles County report and this presentation slides will be available for download on Friday, February 18. LAEDC.org/forecast