When finished, Las Lomas will represent a $2 billion investment in residential, commercial and infrastructure development - a significant boost to the region's economy. Specific Las Lomas economic benefits to the City of Los Angeles include:
- Generating approximately $22 million in annual tax revenues to the City: Las Lomas will help the cash-strapped City of Los Angeles by providing a new and consistent revenue source to fund community priorities such as public safety, hospital emergency rooms, increased park space and other needs.
- Creating 9,000 new direct and 22,000 indirect jobs: Las Lomas will be a job-creation engine that will provide direct and indirect employment for thousands of Los Angeles residents. The project will create annual wages in excess of $1.3 billion. Las Lomas is in the process of developing an innovative local job-training and contracting program in close consultation with community leaders, union representatives and area elected officials.
- Investing $150 million to address regional transportation needs: Las Lomas will privately fund a variety of on-site and off-site multi-modal transportation improvements to help a region already burdened by excess traffic.
- Signing of a $1.5 billion Project Labor Agreement: Las Lomas has signed a Project Labor Agreement with the region's Building Trades ensuring local, skilled labor will fill the project's estimated 1,300 construction jobs a year for the project's 12-year build-out.
