The mayor of Los Angeles, Richard Riordan, says the LA economy has turned around since 1992. Our city income, revenue is back to its all time high. The jobs have increased dramatically. Even aerospace defense have gone up the last two years. Entertainment is at an all time high.
LA is definitely back.
Not the LA Eugene Grigsby sees. In LA s urban core there are an estimated 200 vacant lots, casualties of the riots, and Grigsby sees a glass that is half empty. There s bifurcation of the economy. It is growing, for the most part, very well at the top. Those are high wage, high tech growth sectors that are doing very well.