LBEP 2023
Annual Report

2023 has been an incredible year. Moving from an assessment and strategic planning phase in 2022, the Long Beach Economic Partnership has established a new strategy focused on leveraging innovation and technology. LBEP is committed to growing the local economy, broadening economic opportunities for all, and focusing on creating the talent and employment pathways that allow more Long Beach residents to find skills and employment right here in our city. One way the Partnership is advancing these objectives is through our 3 Pillar Strategy. During the strategic planning sessions for LBEP, the board weighed in on the current work of the organization and looked for those projects that had the most potential to expand further into broader economic and workforce development opportunities. Ultimately, for 2023, the board selected Advanced Air Mobility – exploring the potential of new cleantech flight transportation; World Trade Center Long Beach – capitalizing on the memorandum signed with the port of Long Beach to relaunch WTCLB and grow trade commerce; and Business Attraction, Retention, and Support prioritizing marketing, outreach and promotion of Long Beach as a place for business to locate, grow and invest.

The opportunity to lead the Long Beach Economic Partnership coinciding with our new Mayor of Long Beach and administration coming into office has presented the chance to align the goals and efforts
of LBEP to the larger ambitions of the new city leadership and our partner organizations. This is an administration focused on innovation and growth and excited for the future and LBEP is a committed partner in this endeavor. Equally, LBEP is proud of its partnership with CSULB Office of Economic
Research and the deep insight provided by their annual Economic Forecast Report. As part of this
collaboration, CSULB and LBEP will be releasing a series of Industry Profiles to gain further insights into the priority industry sectors. In collaboration with partners like Sunstone Management, Long Beach
Center for Economic Inclusion, Imprint Venture Lab, and CSULB Center for Innovation and Entrepreneurship, LBEP is also working to attract and retain tech start-ups to the City of Long
Beach. The ambition of the coalition is to establish a renowned tech corridor located right here in Long Beach with a workforce ready to support the growth of the tech industry.

Finally, with the Board of Directors made up of some of the city’s most influential and thoughtful leaders, with expertise from across industries and business, LBEP has continued to provide support, resources and information both during and coming out of the Covid pandemic. Throughout this challenging time,
LBEP recognized the difficulties facing our local businesses and communities. Those challenges helped define the programs and efforts historically undertaken by LBEP and established the foundation that would go on to underpin the new strategic plan.

These historical efforts are now foundational to the work of LBEP and are referred to as the Core Commitments, which include: Affordable Housing, Digital Inclusion, Small Business Resiliency, and Workforce Readiness. In each of the new projects and programs undertaken by LBEP, we are dedicated to uplifting the Core Commitments as part of this work. As we step into 2024 and look ahead to the future, with everything from major infrastructure projects to the 2028 Olympics, this is an exciting
time to be a part of Long Beach and an even better time to join hands in creating a city that inspires, supports, and provides for each of our residents.

LBEP provides our members access to research, data and a network of partners, the opportunity to create meaningful change, and make an impact through positive solutions that support inclusive growth for all Long Beach residents. We invite you to join us.

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