Trade
Port of Los Angeles. |
L.A. County Trade Sector
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A combination of transportation, logistics and distribution services, trade is the second largest traded industry cluster in Los Angeles County. Gateway to the Pacific Rim, the Ports of Long Beach and Los Angeles are key economic drivers in the local, regional, and national economy.
Ranked number one in the nation, the twin ports handle nearly three times the volume of containerized shipments than their closest rival, New York/New Jersey.
With a strong port infrastructure, main lines for both the Burlington Northern Santa Fe and Union Pacific railroads, and an excellent highway system extending throughout the west and across the nation, L.A. County is unrivaled in containerized traffic with over 14.1 million twenty foot equivalent (TEU) containers transiting the port in 2010.
Los Angeles International Airport (LAX) is another key link in Los Angeles County’s international trade. While the LA/Long Beach harbors handle high volume products, LAX handles high-value products, such as medical instruments, electronics, and perishables. In 2008, the value of international trade commodities moved through LAX totaled $78.7 billion. LAX is served by 43 international carriers and all major air freight lines.
Employment in the international trade sector is estimated to top 281,000 people. Over 4,500 firms in L.A. County are owned or affiliated with foreign-owned parents. They directly employ 157,200 local workers with a payroll of $7.6 billion, and support a total of 359,000 L.A. workers who are tied directly or indirectly to foreign direct investment in the region. Tax revenues from these foreign firms exceed $1 billion annually.
Representing the needs of those involved in import and export is the World Trade Center Association of Los Angeles-Long Beach.