IN THIS ISSUE:
UPCOMING EVENTS:
Winter 2011 >
New 5 Story Hyatt Place Begins Construction
El Segundo's Fire Station 2 was the first public building in the South Bay to achieve LEED certification for environmental responsibility?
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A MESSAGE FROM THE MAYOR
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Despite a still shaky economy and some troubling financial forecasts across the country and state, the City of El Segundo is not only managing the storm nicely but also laying the groundwork for an exciting future. Our City Council recently adopted a structurally balanced budget in which no one-time monies will be used to cover expenses—a phenomenal achievement in this day and age. We’ve also set forth plans to invest in our infrastructure for the long haul, including important improvements to major roadways, public safety buildings and our downtown business district.
We recently approved a new economic development strategy dedicated to maintaining and building upon our status as the first-ever most business friendly city Eddy Award winner. Already a prime commercial destination due to its ideal location adjacent to the Pacific Ocean, LAX, two major freeways and Metro Rail, El Segundo is also a haven for Fortune 500 companies, offers some of the most affordable tax rates in the region, and is a very safe place to live and work.
Among our goals moving forward is to further streamline our permit and plan check process, enhance our business outreach efforts through personalized, one-on-one customer service, and take a proactive stance in identifying compatible businesses from outside the area that are looking for just the sort of amenities El Segundo has to offer.
We are excited to see growth in several of our prime commercial sectors, most notably Smoky Hollow—a mixed-use district that is shifting from more industrial uses to media arts-related firms—as well as in our Downtown and eastside business sectors. El Segundo has also become the leading hub for data centers in the entire Southland.
While economic growth continues to stall elsewhere in the county, businesses are still keen on coming to (and staying in) El Segundo, as evidenced by the recent arrivals of such notable companies as PC Mall and T5, as well as DirecTV’s decision to double the size of its facilities here.
So when you do your due diligence on where to move or launch your business, be sure to jump on the El Segundo bandwagon.
Learn more about us by going to www.elsegundobusiness.com, or give us a call at 310-524-2345. Stop in for a cup of coffee and a tour of the town.
Best Regards,
Mayor Eric Busch
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City Steps Up Permitting/Plan Check Process
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Already heralded for its business-friendly amenities, the City of El Segundo is about to become even friendlier for those in town looking to build, make tenant improvements or remodel. By implementing the new Appointment Plan Check process, City staff members from various departments join forces to provide customized service to its customers and expedite the permitting and license process. In fact, those with smaller projects can usually expect same-day plan checks!
Also in the works for early 2012, customers will be able to obtain basic permits and licenses online.
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Chevron Celebrates Centennial, Gets ROCking
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El Segundo’s oldest business tenant, Chevron, celebrated its centennial celebration on Saturday, November 12, 2011 with a special event at Chevron Employees Park. The Open House & Annual Community Tour Day included tours of the refinery, historical photos and memorabilia, exciting demonstrations, interactive displays, giveaways and refreshments.
El Segundo got its name from the Spanish “The Second,” in reference to then-Standard Oil’s location of its second West Coast refinery here.
Along with its storied history of success, Chevron is also poised for the future. It recently broke ground on the new ROC (Refinery Optimization Center), a state-of-the-art control facility that centralizes many different processes of the refinery in one building with updated technology and rigid oversight to ensure the plant continues to run safely and efficiently. Chevron is also launching other new projects to power Southern California well into the future
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DirecTV Expands El Segundo Operations
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In early November, El Segundo’s highest tax generating business, Fortune 500 firm and satellite TV giant DirecTV inked the largest Los Angeles area lease of the last decade to not only stay put at its longtime 333,000-square foot headquarters at Kilroy Airport Center but to also expand operations with an additional 297,000 square feet of space in an adjacent building.
The 16-year agreement could allow the company, which currently has 2,000 employees in El Segundo, to use up to 720,000 square feet, thereby more than doubling its current footprint. “This transaction demonstrates the quality of our West Coast real estate portfolio and our organization’s ability to create a unique and compelling office environment for dynamic and expanding tenants,” said John Kilroy, Jr., president and chief executive officer of Kilroy Realty Corporation.
The news comes on the heels of Time Warner’s recent move to lease space at 2352 Utah and 2345 Alaska, where the media giant will set up shop for two new sports broadcast channels (including one for the Lakers) and employ 130 people.
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El Segundo a Data Darling
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With one of the most extensive fiber optic networks in the region and a prime location to boot, El Segundo has become a major hotspot for data centers over the past six years. The city is home to more than one-quarter of all the high-security facilities in the county that house computer servers and protect sensitive business data. Key operators in town include Equinix, Digital Realty and, most recently, T5 Partners. A recent Los Angeles Times article noting LA County’s emergence as “one of the country’s largest data center hubs” mentions “clusters” around El Segundo and points out the city’s “advantage of being near Los Angeles International Airport and in the territory of Southern California Edison, which sells power to businesses at a lower price than the DWP does.” The article goes on to report that demand for data centers is expected to markedly increase in the coming years. El Segundo is poised to remain at the forefront of this growth.
The latest entry into the local market, T5 Partners, purchased a 121,000 square foot building at 444 Nash Street that it will market as wholesale “plug and play” raised-floor data center space that offers a lower cost to prospective tenants.
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The Business Arrivals Spur Continued Growth
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Notable businesses continue to flock to El Segundo, with several key newcomers already in place or on the way. In April, PC Mall, Inc. acquired a two-story, 4.2-acre, 81,000-square foot office building at 1940 E. Mariposa Street to house its operations. The company provides technology products, services and solutions to businesses, government and educational institutions and individual consumers via direct marketing and three retail stores. PC Mall has an annual total revenue of $1.37 billion and has over 20 locations in the United States, Canada and The Philippines, with more than 2,600 employees.
On November 15, OTO Development broke ground on the 83,855-square foot, five-story 143-room Hyatt Place Hotel at the southeast corner of Nash Street and Maple Avenue in the Campus El Segundo complex. Plans for two more hotel facilities are also in the works, including a Cambria Suites on Continental Boulevard.
At Continental Plaza, CB Richard Ellis is consolidating its El Segundo and Torrance locations into the second floor at 2221 Rosecrans Avenue, with ground floor retail that will likely include a new bank branch. Bank of Manhattan is also moving its existing upstairs mortgage offices at 2041 Rosecrans to a much more visible, significantly larger and more accessible (with a dedicated valet parking lot and ATM) space in the same complex.
New arrivals in the Southland’s newest creative media destination, El Segundo’s Smoky Hollow, include music production firm Sonic Fuel Studios, film production company Skyscraper Productions, and photographer/director Dani Brubaker
Meanwhile, Downtown El Segundo will also welcome several major arrivals, including Schat’s Bakery Cafe in November 2011, and the El Segundo Museum of Art in 2012.
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STAY IN THE KNOW
In addition to scanning our popular "News Links" feature, which provides updates on important news items about El Segundo business, be sure to check out our video player for important messages and reflections from our City leaders.
Send us feedback to tell us what you think at: feedback@elsegundobusiness.com
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