TITLE
WITHDRAWN
Recommendation to respectfully request City Manager to partner with the Port of Long Beach and interested stakeholders on a Port maritime business cluster and the development of a potential local trade incubator project.
DISCUSSION
Last week, officials from the Port of Long Beach Board of Harbor Commissioners requested a discussion with local stakeholders to create a "maritime business cluster". This cluster would be made up of trade-related business groups around the Los Angeles and Long Beach Ports. Port officials stressed that a strong business cluster can spur productivity and innovation, leading to higher wages and increased employment.
Similarly, a business "incubator" is designed to assist in the development of small start-up companies through resource and support services. Incubators offer a variety of tools to assist, mentor and move organizations towards success. A trade incubator could be a valuable resource for start-ups in our Port complex.
Both the Ports of Los Angeles and Long Beach serve as major forces in our local economy. It is vital that the City partners in the discussion and development process of a business cluster and trade incubator project.
FISCAL IMPACT
The recommended action of this item has no significant fiscal impact.
SUGGESTED ACTION
Approve recommendation.
Respectfully Submitted,
PATRICK O'DONNELL
COUNCILMEMBER, FOURTH DISTRICT