Thursday, March 15, 2012

Monrovia Businesses: Job Creators, Revenue Generators, Fun Makers

This week, the "Monrovia Report" - a City-issued weekly-report on all items related to Monrovia - provided this write-up on why City Hall values its business community:

A Strong Business Community is a Strong Monrovia

Jobs. Sales Tax Revenue. Entertainment options for our residents, visitors and workforce.

These are just a few of the reasons why we value our local businesses – and why the City of Monrovia has been working hard to attract, retain and grow our local companies of all shapes and sizes.
Monrovia has more than 1,300 businesses – ranging from our homegrown Old Town businesses, to our national retail chains on West Huntington Drive, to the aerospace manufacturers located along our High Tech Corridor.  
Combined, each of these businesses contribute in some way to strengthening our local economy, creating jobs, selling goods that generate sales tax dollars or even by hosting events at our local hotels or restaurants.
From a finance point of view, it’s easy to see the effects of the businesses that sell retail items – such as Living Spaces or Sierra Autocars. 
In 2011, these types of businesses are expected to generate more than $8 million of sales tax revenue for the City – or roughly 42 percent of to the City’s general fund budget. 
These are dollars that are used to help fund vital City services like our police and the upkeep of our streets, sewers and parks, as well as fire operations, and our library and recreation activities.
When it comes to job creation, Monrovia businesses are doing their part to stabilize the regional economy. The top 50 employers in Monrovia – which includes businesses such as Ducommun Aerostructers, Trader Joes and Worley Parsons – generate 8,000 jobs. And that figure does not even include the remaining 1,250 small businesses in our community.
The City values the contributions that our businesses, business owners and their employees make to our community, which is why we will continue to do whatever we can to create programs that will attract, retain and grow business in Monrovia. To learn more about these programs, visit our website at