Economic Development Update
JANUARY – JUNE 2026
City Council Meeting Presentation 09-01-2026
10A
BUSINESS ATTRACTION & RETENTION
ECONOMIC DEVELOPMENT UPDATE • JAN – JUN 2026 02
Business Support, Site Visits, Ribbon Cuttings & More
LOCAL BUSINESS ACTIVATION
The Passport Program converted visibility into local engagement ECONOMIC DEVELOPMENT UPDATE • JAN – JUN 2026 03
59,191
Social
Media Views
36,188
People
Reached
688
Like and
Reactions
232
Shares
Participation
•100+ Completed Passports
• 35 Prizes Distributed
•12+ Businesses Donated Prizes
• 400+ Promotional Decals Distributed
1,521
Website
Visits
5,015
Web Page
Views
RETAIL & RESTAURANT ACTIVITY
Del Amo Fashion Center – New Businesses Now Open
ECONOMIC DEVELOPMENT UPDATE • JAN – JUN 2026 04
RETAIL & RESTAURANT ACTIVITY
Del Amo Fashion Center Coming Soon
ECONOMIC DEVELOPMENT UPDATE • JAN – JUN 2026 05
OFFICE HOURS
Data-Driven Property Insight
ECONOMIC DEVELOPMENT UPDATE • JAN – JUN 2026 06
884 Holdings LLC : 18529 Hawthorne Blvd
OFFICE HOURS
Data-Driven Property Insight
ECONOMIC DEVELOPMENT UPDATE • JAN – JUN 2026 07
Star Plaza: 2370 Crenshaw Blvd
COMMERCIAL ACTIVITY
Vehicle sales peaked in May
ECONOMIC DEVELOPMENT UPDATE • JAN – JUN 2026 08
Monthly vehicle sales per Torrance Auto Dealers Association 975
January
1,185
February
1,001
April
1,451
May
1,132
March
1,036
June
Tesla Service Center Opened
DESTINATION VISIBILITY
Tourism Assets Extending Torrance’s Regional & International Reach ECONOMIC DEVELOPMENT UPDATE • JAN – JUN 2026 09
California Welcome Center
34,548
Visitors: January – June 2026
“Samurai of the Diamond”
Augmented Reality Mural
22,201
Total Augmented Reality Views
TOURISM & HOSPITALITY
Hotel Revenue is Rising Even as Occupancy Holds Steady
ECONOMIC DEVELOPMENT UPDATE • JAN – JUN 2026 10
79.2%
2026 average
occupancy
$137.84
Revenue Per
Available Room
Revenue Per Available Room: $137.84 as of June, $132.27 in 2025, $130.99 in 2024 $9.3 M
Estimated TOT
Jan–Jun 2026
+7%
Year - Over - Year TOT
Downtown & Community Development
Downtown Events Strengthen Local Economy
ECONOMIC DEVELOPMENT UPDATE • JAN – JUN 2026 11
2.5 M
Visits
+1.8%
Year - Over - Year
TOT
77 min
Avg. Dwell
Time
Downtown Torrance Visitors
SPECIAL EVENTS & FILMING
Generating Measurable Value
ECONOMIC DEVELOPMENT UPDATE • JAN – JUN 2026 12
5 Special Event Permits
24 Film Permits Issued
$83,061
Film Permit Revenue
Recent productions included commercials for Aldi and Wendy’s, plus Netflix’s “The Fifth Wheel,” expected to release in early 2027.
International Relations
International Relationships Open Doors for LA28 and Beyond ECONOMIC DEVELOPMENT UPDATE • JAN – JUN 2026 13
Chinese Taipei Olympic Committee
Latvia business roundtable
Smart Air & Mobility Exchange
PLACEMAKING & PARTNERSHIPS
Partnerships are Multiplying the Reach of City-Led Initiatives ECONOMIC DEVELOPMENT UPDATE • JAN – JUN 2026 14
01 LAEDC - Select LA
02 11th Annual LAEDC
South Bay Economic Forecast
03 SBCCOG’s 26th Annual
General Assembly
LOOKING FORWARD
Next Phase Converts Momentum --> Durable Business Growth ECONOMIC DEVELOPMENT UPDATE • JAN – JUN 2026 15
01 Attract & Retain Continuously align Outreach and Incentives with Council priorities. 02 Prepare for 2028 Host LA County Contracting Workshop for Small Businesses to leverage Olympics & Paralympics opportunities.
03 Compete & Market Apply for LAEDC's Most Business Friendly City Award and Refresh Economic Development marketing tools.
04 Deepen Relationships Expand Business Visits, Develop Business Welcome Packets, and Enhance Tech Committee engagement.
COUNCIL ACTION • ACCEPT AND FILE THE ECONOMIC DEVELOPMENT UPDATE