Los Angeles and San Diego, California

TTIP_Town_Hall_Locations_Los_Angeles_CA.jpgLos Angeles, California

Los Angeles, California

With a population of 13 million and a GDP of $700 billion, Los Angeles has the third largest metropolitan economy in the world. The city’s GDP ranks it higher than the countries of Belgium, Saudi Arabia, Norway and Taiwan. The city is a center for business, international trade, culture, media, technology and education. Home to Hollywood, one in every six of the city’s residents works in a creative industry, according to Forbes. This has earned the city the nickname of the “Entertainment Capital of the World”. Companies headquartered in Los Angeles include 20th Century Fox, American Apparel, CBS Television Studios, Fox, Gaumont International Television, Neutrogena, Northrop Grumman, Paramount Pictures and Virgin Records.

San Diego, California

San Diego is California’s second largest city, in terms of population. The city has a GDP of approximately $206.82 billion (2014), which accounts for approximately 9 percent of California’s total GDP of $2.3 trillion (2014).

The civilian labor force for the San Diego metropolitan area is 1.56 million. Its economic base, once heavily reliant on defense and tourism, now includes high-tech manufacturing and an expanded international trade sector. San Diego is recognized as one of the leading high-tech hubs in the United States, with its innovation economy anchored by life science, communications, clean technology and software industries. The city is also home to the largest concentration of military in the world, and is the home port to more than 60 percent of ships in the U.S. Pacific Fleet and approximately one-third of the U.S. Marine Corps’ combat power.

With its proximity to Mexico and the Pacific Rim, San Diego’s geographical position offers opportunities for growth in international trade. The Port of San Diego also facilitates international trade activity through its 10th Avenue Marine Terminal, which provides for the importation of a variety of bulk products and large equipment.

California Economy At a Glance

Population: 38,332,521 (2013)

Labor Force: 18,946,244 (2013)

Gross Domestic Product (GDP): $2.203 trillion (2013) GDP Per Capita: $46,029 (2012)

GDP Ranking among US States: 1st

Household median income: $61,094

Largest Employers:

  • Los Angeles County
  • Los Angeles Unified School District
  • City of Los Angeles
  • University of California
  • San Diego Unified School District
  • City of San Diego
  • Kaiser Permanente
  • The Boeing Company
  • Northrop Grumman Corp