By Veronica Mackey
Article in Los Angeles Business Journal Highlights Inglewood’s Smart Business Moves
The City of Inglewood made the cover of the Los Angeles Business Journal this week (July 7, 2014)—a pivotal moment that further cements the growing consensus that the “City of Champions” is back.
David Nusbaum’s full page-plus article titled, “Inglewood Gets Down to Business,” and separate commentary by editor Charles Crumpley on a possible NFL stadium, chronicle the city’s inevitable comeback.
Nusbaum’s piece catches outsiders up on the steady inroads made by city leaders to eliminate the double-digit deficit, and unfunded liability that once quadrupled the annual general fund budget.
Mayor James Butts, who ran the Santa Monica Police Dept., was Deputy Police Chief in Inglewood, and the oversaw security detail at LAX, has learned a thing or two about driving down costs and attracting new revenue.
“You focus on a major entertainment anchor because high-end restaurants and retail follow,” Butts said. “Then the business campuses relocate in your city. That’s the next phase for
what we need to attract.”
The formula is working. Just this year alone16 new businesses have opened in the city, including the newly renovated Fabulous Forum. There are discussions with investors about transforming downtown’s Market Street.
The planned Hollywood Park tomorrow “mini city” project, which will house a 300-room hotel, retail, entertainment and nearly 3,000 new homes, is part of the rebirth making locals who thought they knew Inglewood take a second look.
All this, plus the prospect of a new NFL stadium, is changing public perception. Crumpley comments: “Inglewood hasn’t exactly been a prime destination for young hipsters, moneyed Westsiders or even counterculture types, so who’d want to go there on Sunday to see a football game? But Inglewood is making a turnaround.”
This publicity boost will go a long way to lure investors from other areas, which Mayor Butts noted in an email:
“This article will give national and international exposure to the progress of Inglewood and generate (even) greater interest in investment in our city.
“We could not have gained this recognition without the hard work and sacrifice that all of you have put into the transformation of a city on the brink of bankruptcy to national recognition as the next big thing.”
Top notch among business publications, the Journal has acquired more than 15 journalism awards this year alone, and has been named the top business journal in the country for the past 5 out of 6 years.
Articles like this one can help to establish Inglewood as a model city for other struggling municipalities.
“One big lesson I’ve learned in my career is cities that depend on indigenous property and
sales taxes just get by in the best of times (and) struggle during recessions,” Butts said.
Established in 1979, the Los Angeles Business Journal is a weekly tabloid, which provides award-winning comprehensive coverage of local business news. According to the Journal's website, it has a weekly print circulation of 24,000 and over 40,000 unique monthly website visitors. It is published every Monday.