California Business Minute™

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Hi, I am Tim Johnson and welcome to the California Business Minute.

In late May, The Economic Alliance of the San Fernando Valley held its annual Economic Summit.

Despite the current economic slowdown, panelists and speakers touted positive signs such, prime
real estate opportunities, low interest rates and the growing focus on ‘greening’ the workplace.

“The majority of businesses in the Valley believe they’ll not only weather this current economic
downturn, but will come out ahead this year,” said Los Angeles Mayor Antonio Villaraigosa,
whose opening remarks set an optimistic tone for the event.

Dr. Daniel Blake, Director of CSUN’s Economic Research Center, presented the San Fernando
Valley Economic Report prepared by the CSUN College of Business and Economics. Blake
said the study suggested that companies remain cautiously hopeful despite the recent economic
downturn. Among the main concerns of Valley businesses are the high cost of doing business
in Los Angeles, high taxes, the rising cost of labor and burdensome regulations. Still, 81 percent
of the businesses surveyed said they are not considering moving out of the Valley – at least for
the next two years. They cite the great location and better job pool as some of the reasons.

I am Tim Johnson and this has been the California Business Minute.