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February 04.2025
3 Minutes Read

Local Ports Achieve Remarkable Growth in 2024: Opportunities for South Bay Businesses

Large cargo ship at industrial port symbolizing port growth.

Record-Breaking Performance for Local Ports

In an impressive display of growth and efficiency, the Port of Los Angeles and the Port of Long Beach have celebrated a remarkable year in 2024. The Port of Long Beach achieved its strongest year ever, with nearly 9.65 million containers moved. Just behind, the Port of L.A. celebrated its second-best year, handling close to 10.3 million containers—a staggering increase of 1.67 million containers compared to the previous year. This notable growth has solidified the Port of L.A.'s reputation as the busiest container port in the Western hemisphere for 25 consecutive years.

Impact on the Local Economy

These record-breaking figures are not just numbers; they have significant implications for local businesses in the South Bay region. Increased cargo movement leads to more jobs, both directly at the ports and indirectly in various sectors including retail, shipping, and logistics. As ports thrive, local businesses often see surges in customers needing their services, from restaurants to retail shops. Events that draw more people to the area, spurred by the thriving ports, give South Bay small businesses the opportunity to share their offerings with a wider audience.

December Delivers a Holiday Rush

As the calendar flipped to December, the ports witnessed a final push ahead of the holiday shopping season. At the Port of L.A., dockworkers managed to move over 921,616 containers in December alone, showcasing the determination of the community to ensure stores were well-packed for eager shoppers. Over at the Port of Long Beach, a total of 861,006 containers were handled. This heavy influx of goods creates a vibrant seasonal atmosphere, which beneficially affects local businesses that thrive on holiday shopping.

Building a Sustainable Future

Moreover, both ports are making strides in reducing emissions. The commitment to environmental progress alongside commercial success is a win-win for everyone involved. By focusing on sustainability, local businesses can align their practices with this green movement, appealing to increasingly environmentally-conscious consumers. This transition not only sends positive signals to the community but also invites more tourists who value eco-friendly practices.

A Bright Future Ahead

As we look ahead, the momentum gained in 2024 is likely to continue into subsequent years. Business leaders like Gene Seroka, executive director of the Port of L.A., and other key figures are calling for a sustained focus on both environmental advancements and commercial growth. For South Bay local businesses, there is now a unique opportunity to ride the wave of this progress by promoting their services and engaging with the community, ensuring that the success of the ports translates into benefits for every resident in the area.

The achievements of the Port of Long Beach and the Port of Los Angeles are far more than impressive statistics—they represent a thriving community poised for prosperous growth. Small businesses and local consumers alike stand to gain from this vibrant atmosphere. By fostering connections and encouraging community support, the South Bay region could see an even more enriched ecosystem as these ports continue to flourish.

Local Businesses

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02.04.2025

Altadena's Small Businesses Face Crisis After Devastating Fires

Update The Aftermath of Altadena's Tragic Fires In the sleepy suburban community of Altadena, wildfires have left a deep scar on its landscape and community spirit. The Eaton fire, devastating in its scope, consumed over 9,400 structures, leaving residents and business owners to grapple with their losses. Altadena’s economic heartbeat, its myriad small businesses, now finds itself amidst an unprecedented crisis. Small Businesses on the Brink At the heart of this crisis are nearly 1,900 small businesses situated within the fire's burn zones, responsible for approximately 11,400 local jobs. Some business owners have shed tears over physical losses, while others are burdened with the weight of uncertainty. Those who have seen their livelihoods crumble are now wading through the complex mazes of insurance claims and loan applications, contemplating what rebuilding will even look like. A Community’s Spirit at Risk For those seeing the tragedy from the sidelines, uncertainty looms heavily. “Who is going to want to come here?” Leo Bulgarini, owner of a gelateria that narrowly escaped the flames, asked rhetorically. He reflects the collective anxiety felt by the community. The haunting echoes of a destroyed neighborhood museum present an alarming reminder that the community spirit, once sparked by neighborhood gatherings in local cafes, stands at risk. Moving Forward: Understanding the Value of Local Businesses Local businesses often serve as the glue that holds communities together. They provide not only products and services but also foster social connections that are hard to replace. Rebuilding these connections in Altadena will mean understanding the unique value these businesses provide and re-envisioning them as community pillars. The vibrant pet store, Steve’s Pets, for instance, represented much more than just a retail location; it fostered relationships grounded in shared experiences and laughter. Urgent Economic Statistics: The Cost of Disasters The financial toll from the wildfires is staggering, with estimates surpassing $250 billion, placing it among the most significant natural disasters in U.S. history. This economic reality starkly highlights the pressing need for support mechanisms for small businesses facing structural loss and psychological challenges. Conclusion The road to recovery in Altadena will undoubtedly be an uphill battle, but it is achievable through community resilience and collaborative support. As residents begin to assess their futures, it’s important to remember the powerful role local small businesses play in our communities.

02.04.2025

Why Business Leaders Must Speak Up Against Tariffs Impacting Consumers

Update Understanding the Recent Tariff Decisions The recent announcement by former President Donald Trump regarding steep tariffs on goods from Canada and Mexico has reignited the discussion about the roles and responsibilities of business leaders during pivotal economic moments. As highlighted by former Treasury Secretary Lawrence H. Summers, the implications of such tariffs are profound, potentially raising prices for everyday consumers and undermining the United States' position in international trade. This situation begs the question: Did our business leaders do enough to prevent this escalation? The Silence of Business Leaders With a trade war looming, business leaders largely remained silent, choosing to navigate the turbulent waters of tariffs quietly instead of sounding the alarm. Despite the adverse economic forecasts, their hesitation to confront Trump’s proposals raises concerns about the health of our domestic market. Understanding the dynamics, it's crucial to ponder the reasons behind this silence. The Cost of Inaction: Who Pays? It's the ordinary Americans who will bear the brunt of these tariffs. Whether it’s higher prices for automobiles or increases in household items, the economic impact is insidious and far-reaching. If business leaders had taken a more vocal stance, perhaps more consumers would have been informed about how these tariffs would directly affect their wallets. Grassroot movements have a profound ability to change the course of major decisions, yet the business community opted for caution in a tense political climate. A Call for Courage Among Business Communities Summers’ assertion that the tariffs represent a test for business leaders cannot be overstated. They hold significant influence over public opinion and the economy. By advocating against these tariffs and making their stances known, they could have educated consumers and sparked a necessary debate around the dangers of protectionist policies. Business leaders must recognize that their platforms come with the responsibility to advocate for their employees and consumers alike. The Lesson for Future Engagement This situation serves as a profound reminder of the importance of vocal leadership in the business world. Clear and courageous communication could prevent economic fallout from poor political decisions. Small businesses, particularly in local regions such as the South Bay, must understand that their silent acquiescence may lead to unforeseen challenges, affecting their bottom lines directly. This is an opportunity for community solidarity, urging businesses to join the conversation about economic policy. Empowering Local Voices in Economic Discourse For small businesses in the South Bay, the time to engage is now. Establishing a collective voice offers the potential for a more active participation in discussions that impact economic conditions. By banding together to advocate for fair trade practices and sensible economic policies, local businesses can position themselves as influential players in the conversation, potentially swaying public opinion and initiating necessary change.

02.05.2025

Lawson and Strickland Take Charge: A New Era for The Polk Institute Foundation

Update New Leadership at The Polk Institute Foundation: A Positive Shift In a commendable move towards enhancing its social entrepreneurship efforts, The Polk Institute Foundation has appointed Michael Lawson as the new chairman of the Board of Directors and William "Bill" Strickland as the Vice Chair. This transition marks a significant step for the nonprofit, dedicated to providing essential training and support for aspiring social entrepreneurs. Meet the New Chairman: Michael Lawson Michael Lawson, with his extensive experience in the corporate realm, brings a wealth of knowledge to The Polk Institute Foundation. After retiring from a successful 31-year career as a partner with Skadden, Arps, Slate, Meagher and Flom, Lawson is now channeling his expertise into fostering innovative business practices within the nonprofit sector. His leadership is expected to drive significant change and inspire a new generation of entrepreneurs eager to make a lasting impact in their communities. Bill Strickland: A Veteran with Vision Joining Lawson is Bill Strickland, a seasoned transactional attorney whose impressive career spans nearly three decades. Strickland’s role as Vice Chair is essential, particularly given his remarkable track record of facilitating nearly $2 billion in gross compensation for his NBA and NFL clients. His unique perspective and commitment to social equity will undoubtedly enrich the foundation's mission, providing further depth to its programming and outreach. The Importance of Social Entrepreneurship The Polk Institute Foundation is recognized for its innovative approach to social entrepreneurship training. By nurturing local talent in the South Bay, the foundation aims to transform ideas into sustainable business practices that contribute positively to the community. As local businesses face new challenges and opportunities, initiatives spearheaded by Lawson and Strickland will be crucial in creating a supportive ecosystem for growth and collaboration. Looking Ahead: A Bright Future for The Polk Institute With new leadership comes new vision. Lawson and Strickland are set to align the foundation’s goals with the evolving needs of the South Bay community, ensuring that resources and training reach those who need them most. Their combined expertise offers a promising outlook for aspiring social entrepreneurs in the region. This new chapter for The Polk Institute Foundation is not just about leadership; it reflects a community commitment to innovation and empowerment. As local small businesses and aspiring entrepreneurs engage with these efforts, the potential for collaborative growth is immense. Together, with capable leaders at the helm, The Polk Institute Foundation is poised to make a meaningful difference.

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