The bustling city of Los Angeles is known for its innovative tech industry, high-profile entertainment scene, and sprawling business districts. As such, there is always a steady stream of important business news emerging from the region. In this article, we will take a look at the top 5 business news stories in Los Angeles that you need to know.
1) Amazon Expands Its Presence in the City
In 2018, Amazon announced that they would be opening a new facility, dubbed the Los Angeles Hub, in Hawthorne. The 47-acre development will house a variety of businesses, including Amazon Studios, Amazon Logistics, and Amazon Fresh, the company’s grocery delivery service. With over 1,500 full-time jobs set to be created at the new facility, this is a significant boost to the local economy.
2) SpaceX Launches Its First Crewed Mission
SpaceX, the rocket and spacecraft manufacturer founded by entrepreneur Elon Musk, launched its first crewed mission from the Kennedy Space Center in May 2020. This is a huge step forward for SpaceX, as well as for the Los Angeles space industry in general. Over 6,000 people are employed by SpaceX in the region, and this launch marked the first time that astronauts have launched into orbit from American soil since the final Space Shuttle mission in 2011.
3) The Rise of E-Sports
One of the biggest business success stories of recent years has been the growth of e-sports. Los Angeles has played a key role in this trend, with the city being home to many of the most successful e-sports organizations in the world. In fact, the Staples Center in Downtown LA has even hosted the League of Legends World Championship, one of the biggest e-sports events on the planet.
4) The City Invests in Renewable Energy
In an effort to reduce its carbon footprint and promote sustainability, the city of Los Angeles has been investing heavily in renewable energy sources. In 2017, the Los Angeles Department of Water and Power announced plans to build the largest solar and battery energy storage system in the world, with a capacity of 400 megawatts. This is a major step forward for the city’s green energy initiatives.
5) Disney’s Golden Age Continues
Despite the COVID-19 pandemic causing major challenges for the entertainment industry, one company has continued to dominate the headlines in Los Angeles. Disney’s streaming platform, Disney+, launched in November 2019 and quickly became a huge success, with over 60 million subscribers by the end of August 2020. This success has shown that the company’s creative content continues to resonate with audiences, even in difficult times.
Conclusion
These are just a few of the top business news stories from Los Angeles in recent years. From major tech developments to renewable energy investments, the city continues to be an important hub for innovation and growth. By staying up-to-date on the latest business news from the region, you can position yourself to take advantage of all the exciting opportunities on offer.
