ECONOMIC DEVELOPMENT UPDATE
February 11, 2025
10A
INTERNATIONAL RELATIONS AND BUSINESS
DEVELOPMENT
2 INTERNATIONAL RELATIONS AND BUSINESS
DEVELOPMENT
3 BUSINESS DEVELOPMENT
4 BUSINESS ATTRACTION IN TORRANCE PROGRAM
5 This program incentivizes businesses
to choose Torrance - Provides up to
$100K to companies that boost
Torrance's employment base and sales
tax:
• One-time payment of $100 per
added employee; or
• One-time payment Equal to 2% of
the increased City's share of sales
tax revenues from a consecutive 4-
quarter period
DOWNTOWN TORRANCE REVITALIZATION &
BUSINESS IMPROVEMENT DISTRICT
6 COMMERCIAL FAÇADE IMPROVEMENT PROGRAM
7 This program is designed to assist property/ business owners visually upgrade property and beautify the area. Potential projects:
•Façade Upgrades
•Landscaping & Irrigation
•Awnings
•Window & Door Upgrades
•Lighting
•Painting and Stucco
•Outdoor Dining
For More Information Please contact [email protected]
SHOP LOCAL – AUTO SALES
8 HOSPITALITY AND TOURISM
9 For the past 4-month period:
• Occupancy Rate average is 83.6%
• Average Daily Rate is $166.40
• Revenue Per Available Room is averaging $139.23
SPECIAL EVENTS AND FILMING
10 COMING SOON…
11 • Tech Committee (Innovation Challenge/Pitch
Torrance)
• Breakfast with the Mayor: JLL
• 88 Cities Summit
• Select LA
• International Youth Baseball Competition
WWW.BUSINESS.TORRANCECA.GOV