October 2019
Welcome to our latest newsletter! We are excited to share news about Long Beach's continued economic growth, an update on our business assistance programs, and news on the latest developments in our city! We are continuously working to bring about new programs and strengthen partnerships that will help sustain this growth for all Long Beach workers, investors, and entrepreneurs. Please keep reading for updates and information on upcoming workshops and events!
Building a Better Long Beach Highlights Continued Economic Growth in Long Beach
The City announced at its Building a Better Long Beach presentation, held Tuesday, September 24, 2019, that new development and construction activity continues to thrive, with work underway or nearing completion for several major projects.

Highlights include:

  • 4.5% unemployment rate
  • $3.5 billion in construction activity in process or underway
  • 4,000 new housing and new commercial developments
  • 2,000 new businesses
  • Completion of Long Beach Civic Center
  • Completion of the Billie Jean King Main Library
Accelerate Employee Ownership Initiative Launches in Long Beach
Photograph by Brandon Richardson, Long Beach Business Journal

In early September, the City joined its partners to celebrate the launch of the Accelerate Employee Ownership Initiative . The event officially kicked-off the partnership between the City and Project Equity, a non-profit organization that helps employees purchase businesses from their owners. These efforts are supported by the Quality Jobs Fund, a project of the New World Foundation, and funded by the Federal Home Bank Loan of San Francisco.
Kiva Long Beach
Through the  Kiva Long Beach  initiative, Long Beach entrepreneurs can access no-fee loans to start or grow their business, and residents can help local small businesses with loans as small as $25. With a dollar-for-dollar loan match provided by the Los Angeles Local Initiatives Corporation ( LA LISC ), Kiva Long Beach borrowers can accomplish their fundraising goal quickly.
Long Beach in the News
Long Beach Business Journal: New Partnership To Assist Underserved Women Entrepreneurs
By: Brandon Richardson

Southern California-based East West Bank and microfinance nonprofit organization Grameen America recently announced a collaboration to assist low-income women entrepreneurs with access to capital and financial services through a new branch at 316 E. Anaheim St. ner Long Beach’s Cambodia Town.East West Bank donated $2 million to assist in the opening and operation of the branch, Grameen’s third in Los Angeles County. Additionally, East West Bank is providing $1.5 million in loan capital to assist Grameen members.
Long Beach Post: With $84 million North Long Beach Warehouse Project, North Long Beach Continues Its ‘Renaissance’
By: Brian Addison

Construction of a massive, 415,592-square-foot warehouse is set to move forward at the southwest corner of Artesia and Paramount boulevards and will be named Bridge Point.

The $84 million project, designed by Herdman Architecture and led by Bridge Development Partners, will not only bring in 500 permanent jobs according to Councilmember Rex Richardson, but also decommission a site that was originally a petroleum refinery when it was activated in the 1930s. It has since served as an asphalt manufacturer.
For full list of articles, visit our news archive
Upcoming Events & Workshops
Mayor Robert Garcia and Treasurer Fiona Ma have teamed up to present the "Long Beach Small Business Workshop" . This workshop is designed to provide important FREE resources to small business owners to start, grow, and succeed in today's economy. Topics include accessing capital, how to start your business, complying to new legislation as a business owner, free resources to help your small business, and much more!
Are you a current veteran business owner looking for fresh ideas and veteran connections? This is your chance to explore what it takes to be an entrepreneur and join ranks with the growing number of veteran-owned businesses!

Saturday, 10/26 | 8:30AM-4:30PM
4900 E. Conant St., Bldg. 02, LB 90808
Long Beach businesses are invited to compete in the 2019-20 Sunstone Innovation Challenge at Cal State Long Beach. First place winner will receive $50,000 in cash & services which includes seed funding, space, marketing, legal, and accounting services. This year's runner up will receive $10,000 in seed funding .