Downtown Long Beach has a vibrant business scene and has a friendly environment for aspiring entrepreneurs who wish to move there. Some of the top employers in the city include California State University, Boeing, United States Postal Service and Verizon.
Downtown Long Beach’s business scene is also made up of many healthcare professionals and retail owners, and the city has recently made efforts to develop a sustainable green economy with eco-friendly policies and advanced technology. For example, the Chamber of Commerce has a green council that promotes sustainable business methods and last year the city assigned certain neighborhoods in the downtown area bike-friendly zones. Businesses in these zones will give discounts to cyclists who visit those areas.
According to the Long Beach Business Journal, the economy downtown is expected to improve this year but will be a slow process. This is because of the state’s ongoing fiscal troubles that caused a decrease in important business projects throughout the state’s cities.
Another reason for the area’s slow economic recovery this year is because of a decline in trading partners with the state in recent years. In addition, Boeing laid off hundreds of its workers in the city last year. But overall, the town still has a good business scene despite these problems.
Because progressive attitudes always increase a city’s business reputation, it’s important to note that according to the LGBT-oriented magazine The Advocate, Long Beach was ranked #14 among the most gay-friendly cities in America. This is good news because the area has a strong gay community and this enables LGBT persons who want develop businesses to feel welcomed and comfortable while setting up shop.
Downtown Long Beach’s business scene is also made up of green jobs and examples of these include eco-friendly home furnishings manufacturers, solar panel and wind turbine manufacturers, natural health food businesses, online writing jobs, recycling companies, community gardens, fuel companies and nonprofit jobs which promote sustainable living in the city.
This California coastal city also has an Enterprise Zone Hiring Tax Program that offers tax credits to business owners in this city. According to the city’s website, businesses in Long Beach can save $37,000 in business taxes if they take advantage of this tax credit program and hire more workers each year. The tax credit also reduces businesses’ labor costs.
The one thing that’s missing from the growth of the downtown business climate is minority-owned businesses. While some minority-owned businesses currently exist in this area, there is more room for aspiring minority entrepreneurs to set up shop in downtown Long Beach. One good business idea for minorities is to open a Farmer’s market or a clothing store which includes primarily clothing that’s made from eco-friendly materials. There are also hundreds of other ideas the can help the revitalization of the downtown area.