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Office of the City Manager

2013 Pasadena Economic Outlook

Pasadena in 2013 will be a year of dynamic motion as the City creates new opportunities for sustainable economic growth and vitality.  The recently completed assessment by Pasadena’s Economic Development Task Force has helped identify existing strengths and establish several important goals and objectives to foster long-range economic prosperity through workforce development, retail and dining, technology and tourism.

Tremendous economic and business opportunities exist in Pasadena, home to some of the nation’s premier academic and professional institutions.  During the coming year and beyond, Pasadena will build on its status to attract more quality jobs with future growth potential.  Those efforts include the City launching plans to fuse technical creativity with entrepreneurial energy through the creation of a new “Innovation Council.”  Led by many of Pasadena’s technology savvy entrepreneurs; the group is forging strategic partnerships to advance a new generation of home-grown, high-tech start-up companies.

Pasadena’s local economy, meanwhile, is simply buzzing from the wide range of office leases recently signed in 2012 for headquarter relocations and operational expansions in software, finance, engineering and design businesses.  The rapid pace of prime office space being snapped up in Pasadena is expected to continue in 2013 along with a positive, domino effect boosting sales at local restaurants and retail stores.  Commercial leases signed this year include Western Assets, Green Dot Corporation, Northern Trust Bank, Guidance Software, Jacobs Engineering and OpenX.

The City will continue to invest in its infrastructure as part of a long-term commitment to bolstering a strong, local economy.  Investments in public roads, transportation, public safety and parks will remain a priority for civic leaders who wish to maintain Pasadena’s high quality of life and municipal services.

The much-needed renovation of the Rose Bowl Stadium will help preserve this National Historic Landmark while integrating modern stadium amenities to enhance the fan experience and keep “America’s Stadium” economically viable for generations to come.  With these and other activities, City Hall is supporting the local economic engine that directly contributes to making Pasadena one of the best places to live, work, learn and do business in California.

To find out more about the exciting business and economic opportunities available in Pasadena, please visit http://www.cityofpasadena.net/economicdevelopment or call (626) 744-4660
Posted: 12/16/2012 02:55:00 PM