The Greater LA region is a real tapestry of economic activity and diversity, with industries ranging from satellites to salsa, digital media to automotive design, lifesciences to logistics, and frankly there’s no place like it.  That’s why we are thrilled at Los Angeles Economic Development Corporation (LAEDC) to welcome a new Chief Economist, Steven Banks Ph.D. to our staff.

Steven has not only developed models to enhance economic, sector and industry forecasts, he has also worked in many of the industries that have a massive footprint in Los Angeles, in senior leadership roles providing economic forecasting and analysis at Warner Bros (entertainment), Trust Company of the West (finance), General Motors (automotive design and manufacturing), and Caterpillar (heavy manufacturing and infrastructure construction).  Steven has also lived in Southern California for many years, both in LA and San Diego, developing a deep understanding of how the regional economy ticks.  Naturally, our team likes that.  But more importantly, in our nonprofit, public-benefit role, providing objective analysis to inform decisions, we think adding such a seasoned veteran means our value to you is greater. 

This is a pivotal time for LA’s economy and indeed the global economy. Occupations in many of our industries are getting increasingly technical, creating both opportunity and risk for LA’s residents.  Other regions and other countries are gunning for LA’s key industries, at a time when these industries hope to grow and create more of the well-paying jobs needed in LA.  We are pleased to have an entire team looking at these issues, providing analysis and actionable strategies, now led by Dr. Banks.  We hope you will think of LAEDC as a resource, and take the opportunity to meet Steven Banks at LAEDC’s annual economic forecast in February, or sooner at one of our other events.  Steven is also looking forward to sharing perspectives here at Fox&Hounds as we get the year rolling, and we thank editor Joel Fox for that opportunity.  Read more about Steven’s background here.