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ED Programs & Services

(Economic Development Team; ED Plan and Strategy; Incentives:Permit Streamlining, Workforce Development, Business Licensing; Business Visitation Program)

Economic Development Purpose

Economic Development is the creation of wealth in which community benefits are realized.  The Economic Development Plan provides a strategy for the City of Torrance to make decisions relating to the creation,
attraction, retention and expansion of our business community. A balanced economic development portfolio consists of growing businesses, attracting new investment, strengthening our infrastructure, and improving the Torrance community's economic base.

The City of Torrance Economic Development Program will facilitate and develop the relationship between the City and the Torrance business community. The Program will dedicate City resources to assist business creation, attraction, retention and expansion within the community to increase economic viability and ultimately pursue the following four goals:

Goal 1.  Enhance Employment Opportunities
Goal 2.  Increase the City's Revenue and Tax Base
Goal 3.  Create a Healthy and Balanced Community and Improve the Quality of Life
Goal 4.  Ensure Economic Stability and Long-Term Self-Sufficiency

A healthy Economic Development Program benefits the community by securing income, profits and tax revenues.  It is a method for improving the fiscal condition of the public infrastructure, improving the quality of life for Torrance residents, and keeping our existing employers profitable. A healthy program will attract and retain private investment and result in substantial investment returns.

City of Torrance Economic Development Plan (pdf)

 

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