LA COUNTY TO FIGHT OFF CHERRY PICKING OF AIR FORCE BASE AND AEROSPACE CORPORATION IN CALIFORNIA

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) October 5, 2003 -- Los Angeles, CA -A Colorado State Economic Development Commission has initiated a major effort to persuade the US government to move the Space and Missile Systems Center at the Los Angeles Air Force Base to the Peterson Air Force Base in Colorado as part of the upcoming Base Realignment and Closure process.

�The Los Angeles County Economic Development Corporation (LAEDC) believes that such a move could have dramatic implications for the economy of southern California and for the safety of the space program,� said CEO & President Lee Harrington Los Angeles County Economic Development Corporation (LAEDC). �We are committed to the retention and growth of the LA Air Force Base (LAAFB) and the Aerospace Corporation here in Los Angeles County,� said Harrington.



Harrington said LAEDC has been working with these two large employers, �the County of Los Angeles, the South Bay and the cities of El Segundo, Hawthorne and Redondo Beach for the last six months to ensure they stay. Now, we are launching a major public retention initiative. Loss of these operations would bring a catastrophic set back to our aerospace/defense industry,� said Harrington. "



Chief Economist Jack Kyser, LAEDC says more than 65,000 current high wage jobs worth $3.3 Billion annually are at stake in southern California.

�Based on new contract awards, this job base will grow to 75,000 in the next few years and $3.8 Billion in wages. These jobs will generate at least $270 million in state and local taxes annually. LAAFB and the Aerospace industry support thousands of other businesses in LA County and southern California. In short, they are a �real plum� that other regions would love to �pluck,�� explained Kyser.



�This is not a fight we can afford to lose�, concluded Harrington. �We invite members of the community to join us in this effort.�



[Editors: For interviews please contact George McQuade, 818.340.5300 or PR@MayoCommunications.com. All LAEDC Study results are posted at: www.laedc.org under special reports and at www.Mayocommunications.com]