A few weeks ago, we posted about 3 Reasons to Move Your Corporate Headquarters to Los Angeles. One of those reasons was the deep talent pool that already exists in the Los Angeles area. With 5 million workers in the region, employers have a huge mix of entry-level employees and experienced professionals to chose from.
Well, it looks like that population is set to grow exponentially in the coming years. According to a preliminary estimate from the Southern California Association of Governments, Los Angeles County is likely to welcome an additional one million residents over the next two decades. The report states that LA County’s population could go from 10.2 million residents to 11.2 by 2035.
The Southern California Association of Governments is a coalition of local governments and agencies that help to inform planning decisions across the Southern California regions. The new projection has put stress on LA County officials to prepare for the challenges brought on by such a significant population increase over a relatively short period of time.
Los Angeles County is already experiencing a housing shortage so careful planning and new developments will have to be considered to accommodate the influx of people to the region. Los Angeles Mayor Eric Garcetti says that the city is “making it easier to finance and build the housing we need,” in anticipation of the population increase. Garcetti’s 2014 goal of bringing 100,000 new units of housing to Los Angeles by 2021 is currently on track.
City voters have also passed two pieces of legislation which set new incentives promoting affordable housing near transit, and funding for the construction of 10,000 units of housing set aside for homeless residents.
LA planners are working on an update to the city’s general plan, including 35 neighborhood-specific community plans which will allow for greater residential density across the city.