[vc_row][vc_column width=”1/1″][vc_column_text width=”1/1″ el_position=”first last”]Torrance, along with the South Bay community, has proudly called itself home to one of the largest clusters of aerospace industry in North America for over 50 years. Among an economic cluster usually lies an attractor that helps draw the industry together. The Los Angeles Air Force Base (LAAFB), located in nearby El Segundo, has served as a major draw for aerospace contractors to our region for over half of a century.
Recently, the Department of Defense submitted its budget asking Congress to approve a Base Closure and Realignment Commission (BRAC) in 2016, the closure process for military bases. During the last BRAC process in 2005, the LAAFB was threatened for closure. The TACC has joined efforts with the Los Angeles Economic Development Corporation (LAEDC) and other Business groups to anticipate any potential closure efforts during the BRAC process by indicating our steadfast support for the base and its robust contributions to the South Bay area.
The TACC visited the LAAFB in August of 2014 and published this article in the Torrance Tribune highlighting the Base’s economic impact in the South Bay. According to the Financial Management and Comptroller division of the office of the Secretary of the Air Force, the base indirectly creates over 11,000 jobs as a result of the aerospace cluster effect and in fiscal year 2013, assessed the overall economic impact of the LAAFB in the South Bay to be nearly $1.7 billion. The TACC is communicating to the Department of Defense and the Secretary of the Air Force the importance of the LAAFB to our National Defense as well as its importance to retain a vibrant Aerospace industry in California.
For insights into issues facing the local economy check out the Torrance Business Issues Update, a new monthly report provided by the Chamber’s Government Affairs program.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_separator height_2=”25″ height=”25″ show_border=”yes_border”][/vc_column][/vc_row][vc_row][vc_column width=”1/4″][vc_column_text]
[/vc_column_text][/vc_column][vc_column width=”3/4″][vc_column_text width=”1/1″ el_position=”first last”]
posted by
Brandon Matson
Brandon is the Governmental Affairs Coordinator for the Torrance Area Chamber of Commerce. His primary responsibilities include facilitating the Chamber’s Governmental Affairs Policy (GAP) group, planning Chamber events with legislators, and facilitating the Chamber’s Political Action Committee (PAC). Feel free to contact him at any time.[/vc_column_text][/vc_column][/vc_row]
