Economic Development
California’s Film Industry Is Growing Again!
California’s expanded Film and Television Tax Credit Program is already making a major impact. State officials recently announced that the program’s first year is expected to generate a record-breaking $6.6 billion in economic activity and support nearly 35,000 jobs across California. For our members, this is more than entertainment news. It is a sign that one of Southern California’s most important industries is growing again and that growth could bring new opportunities for commercial real estate.
Read MoreCalifornia Approves $351.7 Billion State Budget
California lawmakers have approved a new $351.7 billion state budget for Fiscal Year 2026-27, making it one of the largest budgets in state history. Governor Gavin Newsom has since signed the spending plan, which includes new investments in housing, homelessness programs, infrastructure, and climate initiatives while also increasing certain taxes and limiting some business tax benefits.
Read MoreWhat Monterey Park’s Data Center Ban Means for Commercial Real Estate
Monterey Park voters recently approved a measure that permanently prohibits data center development within the city. While the measure was shaped by concerns over utility demand, infrastructure capacity, and compatibility with surrounding neighborhoods, it also highlights the increasingly complex factors cities are weighing when evaluating major commercial development proposals.
Read MorePasadena Continues Advancing Transit-Oriented Development Strategy
As cities across California implement state housing mandates, Pasadena continues positioning itself as a leader in transit-oriented development-creating new opportunities and long-term considerations for commercial real estate.
Read MoreCulver 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.
Read MoreSanta Monica Advances Economic Revitalization Strategy
The Santa Monica City Council recently approved a series of economic revitalization measures aimed at supporting local businesses, activating commercial corridors, and encouraging investment throughout the city.
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