Rewritingthescript:LA’sopportunitytobuildafaster-growing,moreinclusiveeconomyLACountyisaglobalculturalcapital,withthelargesteconomyintheUnitedStates.Yetboldactionmaybeneededtodriveinclusivegrowthinthenextdecade.ByAshwinAdarkar,TolianGjika,JonathanLaw,TimWard,LolaWoetzel,andYenliWong.December2023Copyright©2023McKinsey&Company.Allrightsreserved.Thispublicationisnotintendedtobeusedasthebasisfortradinginthesharesofanycompanyorforundertakinganyothercomplexorsignificantfinancialtransactionwithoutconsultingappropriateprofessionaladvisers.NopartofthispublicationmaybecopiedorredistributedinanyformwithoutthepriorwrittenconsentofMcKinsey&Company.Rewritingthescript:LA’sopportunitytobuildafaster-growing,moreinclusiveeconomyiiContentsIntroduction1Challenge1:Thebusinessenvironment—industryshiftsandthedifficultyofdoingbusiness3inLAChallenge2:Talentsupplygapsandevolvingskillsneeds10Challenge3:Accesstoaffordablehousing,convenienttransportation,andhigh-speed16broadbandLA’sblockbustersequel:Aneweraofeconomicgrowthforallbypromotinginnovation,20enablingtheregion’sconsiderabletalent,andimprovingaffordabilityAcalltoaction27Rewritingthescript:LA’sopportunitytobuildafaster-growing,moreinclusiveeconomyiiiLosAngelesCountyhasthelargesteconomyintheUnitedStates—oneofthelargestintheworld,infact—andoverthepastthreedecadesdemonstrate...
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