The Select LA Investment Summit, held on June 20, 2024, at the Hyatt Regency Long Beach, stands as Southern California’s foremost international investment event. This prestigious gathering bridges global investors with the region’s business and government leaders. As the first official spin-off of the U.S. Department of Commerce Select USA Summit, Select LA offers a unique platform for international businesses to gain actionable insights into Los Angeles’ dynamic investment ecosystem. This year’s summit emphasized LA’s spirit of innovation and its diverse, robust economy, spanning sectors such as technology, entertainment, aerospace, and bioscience.
The event commenced with welcoming remarks from prominent leaders, including Karen Bass, Mayor of Los Angeles, and Stephen Cheung, President & CEO of LAEDC & WTCLA. Their speeches underscored the significance of LA as a global investment hub, highlighting its vibrant industries and innovation-driven economy. Erin Bromaghim, Deputy Mayor for International Affairs, and George Chen, Mayor of Torrance, also emphasized LA’s strategic importance and the city’s commitment to fostering international business relations.
The morning plenary session, “Invest in Innovation: From Silicon Beach to Space Beach and Beyond,” featured a panel of local leaders including Emily Desai, Deputy Director of International Affairs & Trade at Go-Biz, and Julie Duhaut-Bedos, Consul General of France in LA, delved into the transformative potential of technology and entrepreneurship in shaping the future. Lucius Martin, Deputy Mayor of Long Beach, shared insights on local economic development initiatives showcasing LA’s position at the forefront of technological and entrepreneurial advancements.
Several breakout sessions including “Global Vision, Local Realities: Exploring LA’s Startup Boom” featured Adrienne Lindgren, Senior Vice President from Los Angeles Cleantech Incubator and Jason Raney, Talent Acquisition Leader from Vast Space, who explored the factors propelling LA’s startup ecosystem. The audience was stunned when Jason Raney stated, “In Long Beach we are building the world’s first commercial space station – once we get it built and launched we are going to spin it and become the first organization ever to create artificial gravity in space”. Another session, “Supply Chain Innovation: Revitalizing International Trade Post-Pandemic,” saw Felipe Cusnir, Executive Director of WTCLB and Consul General of Mexico, Carlos González Gutiérrez discussing how technological advancements are enhancing supply chain resilience in a post-pandemic world. Additional contributing panelists included Commissioner Courtney La Bau, Los Angeles World Airports; Senior Director of Workforce and Government Affairs for the Port of Los Angeles, Avin Sharma; and Casey Hehr, Managing Director of the Port of Long Beach. Hosting the event in Long Beach was especially meaningful, considering the city’s commitment to fostering trade and investment with the relaunch of the WTCLB. The location underscored Long Beach’s strategic role in international commerce and its dedication to innovation and economic development.
The luncheon plenary featured keynote speeches from Adam Spice, CFO of Rocket Lab, and Zaib Shaikh, Consul General of Canada. Their talks focused on the critical role of international collaborations in driving innovation. The presentation of the California Foreign Direct Investment Report 2024 by Shannon Sedgwick, Senior Director, Institute for Applied Economics of LAEDC provided attendees with the latest insights into California’s investment landscape. The report’s findings on key trends and challenges offered valuable guidance for investorsnavigating the state’s complex economic environment.
Afternoon breakout sessions continued to offer valuable insights. “Partnership Ecosystems: Collaborations to Support LA Industries” explored the importance of strategic partnerships in fostering innovation. Speakers like Jermaine Hampton, Vice President of Workforce Development from LAEDC and Stephanie Hsieh, Interim Chief Executive Officer from Bioscience LA emphasized the role of collaborative efforts in supporting diverse industries. In “Inside LA: What it Really Takes to do Business,” experts such as Fran Fulton, Economic Development Manager for the City of Torrance and Barbara Levine, Director Business Assistance of LAEDC, provided practical advice on navigating LA’s regulatory landscape and leveraging local talent pools, essential for businesses aiming to thrive in the region.
The closing plenary, “Invest in International: Global Trade for Local Growth,” brought together leaders like Leah Goold-Haws, President & CEO of LBEP and Kelly LoBianco, Director of the LA County DEO to discuss the vital role of global trade in driving local economic prosperity. This fireside chat offered strategic insights into leveraging international markets to boost local innovation and growth. The panelists highlighted the challenges and opportunities in international investment, underscoring the importance of global connections in sustaining LA’s economic vitality.
The Select LA Investment Summit 2024 effectively highlighted Los Angeles and Long Beach as a pivotal hub for international investment and innovation and provided attendees with a comprehensive understanding of the region’s diverse economic landscape. By fostering global connections and emphasizing the importance of collaboration, Select LA continues to play a crucial role in shaping the future of business and investment in Southern California.
