Historical Finance and Investments Roots Formulated Los Angeles’ Growth

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The focal point of downtown Los Angeles is the Financial District, situated near to the construction at Bunker Hill. The district is mostly comprised of corporate office skyscrapers, hotels, banks, law firms, and real estate companies.

On of the most notable groups historically involved in bringing investment to the city is the LA Chamber of Commerce, which is supported by over 1,600 local businesses. By promoting local businesses, the Chamber’s main goal is to increase investment to the city and surrounding region. It prides itself on advocating for economic growth, prosperity and quality of life.

In its early days, the group promoted the West Coast region’s many opportunities in the agriculture and international trade industries. As the city developed into a major metropolitan area, the Chamber turned its focus to civic and political activities, involving trade, education, transportation and advocacy.

At that time the organization had two major objectives: to stimulate migration to the region and to broadcast its products. They attempted to woo Midwestern farmers to LA because of their demonstrated expertise in that field. To satisfy the second goal, the Chamber embarked on an ambitious ‘California on Wheels’ expedition, which consisted of a railroad car filled with the state’s agricultural products, and visited every major town in the Midwest and South. During the two-year tour, more than a million people viewed the exhibit and took home products offered by the Chamber.

The group also assisted in boosting grassroots investments in some important manufacturing businesses. The beet sugar industry profited from advancements in energy sources that helped its growth. Among these advancements was the discovery of oil and the new utilization of electric power generated from water. The Chamber also brought aircraft manufacturing to the region in 1920 by supporting international air meets at the local Dominguez airfield. The region’s livestock market got a boost when the Chamber helped to construct the Central Manufacturing District, serviced by the LA Junction Railway.

In the aftermath of the Second World War, the Chamber turned from being an organization that tried to attract new business to Los Angeles to one that began to address modern issues associated with a large industrial area. The organization moved from a county-sponsored group to a private business organization financially supported only by its members. Moving into the modern era, the Chamber took on the name of the Los Angeles Area Chamber of Commerce.

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