Los Angeles is the largest manufacturing
center in the United States. The contiguous ports of Los Angeles
and Long Beach - “The Twin Ports” - together comprise the most significant
port in North America and the fifth most important port in the world.
They are vital to trade within the Pacific Rim. Los Angeles is the
world center for the entertainment industry. Other significant industries
include media production, finance, aerospace, telecommunications,
law, tourism, health and medicine, and transportation.
Few major companies are headquartered within
the boundaries of the City of Los Angeles for a variety of reasons,
such as the city's high taxes. For example, Los Angeles charges
a gross receipts tax based on a percentage of business revenue,
while most neighboring cities charge only small flat fees. It is
possible for companies to benefit from their proximity to Los Angeles,
while at the same time avoiding the city's taxes (and other difficulties
associated with metropolitan living in Los Angeles). |
Economic information