Culver City Invests in Business Attraction and Retention

Earlier this month, the Culver City City Council approved an agreement with the Culver City Chamber of Commerce to support business attraction, business retention, and economic development efforts throughout the city.

While the action was specific to Culver City, it highlights an important reality for communities across greater LA: strong local economies are built through ongoing collaboration between local governments and the business community.

When people think about economic development, they often focus on large projects, ribbon cuttings, or new businesses opening their doors. But successful economic development starts much earlier-with creating an environment where businesses can invest, grow, and remain in a community for the long term.

That is why partnerships between cities, chambers of commerce, business organizations, and the commercial real estate industry matter.

What You Need to Know

Economic development is about more than recruiting new businesses.

It also includes retaining existing employers, supporting local investment, improving business conditions, and ensuring communities remain competitive in attracting jobs and economic activity.

Partnerships between local governments and business organizations can help:

• Support business attraction and retention efforts
• Promote economic growth and job creation
• Strengthen communication between public and private stakeholders
• Identify barriers to investment and development
• Improve the overall business climate

These efforts are especially important as cities compete for investment, employers, and talent.

Businesses are more likely to expand or relocate to communities that provide a stable, predictable, and supportive environment.

For commercial real estate, those conditions help drive occupancy, leasing activity, tenant demand, and long-term property investment.

How It Impacts You

Strong economic development strategies benefit more than just individual businesses.

They help create thriving commercial districts, attract employers, support local services, and encourage investment throughout a community.

When cities actively engage with business organizations and industry stakeholders, they are often better positioned to understand the real-world challenges facing employers, property owners, and investors.

Strong partnerships create opportunities for cities and businesses to work together on issues that influence investment, job creation, and overall economic vitality.

Commercial real estate plays an important role in these conversations. Property owners and managers provide the spaces where businesses operate, employees work, customers shop, and communities gather.

As a result, policies that support business growth and investment often have direct impacts on building performance and tenant demand.

Stay Connected

Culver City's partnership with its Chamber of Commerce is a reminder that economic development is not just about attracting new businesses-it is also about supporting the businesses that are already part of a community.

When cities, business organizations, and industry stakeholders work together, they can help create the conditions that encourage investment, support job creation, strengthen commercial districts, and position communities for long-term success.

Stay connected with BOMA on the Frontline for more news impacting members.