ECONOMIC DEVELOPMENT UPDATE
September 23, 2025
10D
INTERNATIONAL RELATIONS AND FRIENDSHIP CITIES PROGRAM
2 INTERNATIONAL RELATIONS AND FRIENDSHIP CITIES PROGRAM 3 BUSINESS DEVELOPMENT/ASSISTANCE/ATTRACTION
4 BUSINESS DEVELOPMENT/ASSISTANCE/ATTRACTION
5 The City of Torrance has been leveraging Placer.AI
to attract new businesses and identify emerging
business opportunities through their real-time
data analytics:
•Provides real-time nationwide rankings
•Demographic Fit Scores: Compares two
businesses to identify compatibility
•Prior to & Post Comparison: Can identify
where people are coming from, and
where they are going
•Favorite Places feature
•…and so much more!
DOWNTOWN TORRANCE REVITALIZATION &
BUSINESS IMPROVEMENT DISTRICT
6 COMMERCIAL REHABILITATION REBATE PROGRAM
7 Potential opportunity for 1215 Crenshaw Blvd, to
utilize this program; currently in process with
Community Development Department.
Staff is Seeking Direction on:
Revisiting this program to also extend Economic
Assistance funds toward both offset City permitting
costs related to exterior improvements and include
Americans with Disabilities Act (ADA) Modifications.
1215 Crenshaw Blvd
SHOP LOCAL – AUTO SALES
8 0
200
400
600
800
1000
1200
1400
1600
January February March April May June July August
982 1003
1518
1226 1230
1009
1148 1195
Auto Sales
January - August
HOSPITALITY AND TOURISM
9 For the past 8-month period:
•Occupancy Rate average is 81%
•Average Daily Rate is $166.75
•Revenue Per Available Room is averaging $135.47
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00% 74.30% 71.80% 77.80% 84.00% 81.90% 84.30% 86.80% 87.10% Occupancy Percentage Rates
December - July
$145.00
$150.00
$155.00
$160.00
$165.00
$170.00
$175.00
$180.00
$185.00
$157.20
$160.19
$163.06 $165.16 $165.59 $168.15
$174.23
$180.44
Average Daily Rates in Dollars
December - July
$0.00
$20.00
$40.00
$60.00
$80.00
$100.00
$120.00
$140.00
$160.00
$116.88 $115.04 $126.81 $138.77 $135.57 $141.74 $151.27 $157.20 Revenue Per Available Room
December - July
SPECIAL EVENTS AND FILMING
10 Current Activity & Looking Ahead…
11 •2028 Olympics
•Community Meetings
•Placer.AI
•Breakfast with the Mayor
•Martial Arts Showcase
•Sake Matsuri
•Tech Committee meet at Zoller: ICATT
Council Discussion & Direction
12 • Future Friendship Games in Torrance
• Revisions to Façade Improvement Program
• Supporting Regional Efforts – World Cup and
Olympics/Paralympics
• Friendship City Travel Policy
WWW.BUSINESS.TORRANCECA.GOV