Philanthropy Economic Vitality Community Team

Dollars that make sense:  Local businesses have every reason to celebrate Ponte Vista. Our community is expected to bring about $70 million in additional spending on goods and services per year. That’s the kind of economic infusion both San Pedro and the Peninsula as a whole can feel very good about.

Ponte Vista is working with organized labor and will be built under a Project Labor Agreement creating employment opportunities and allowing local residents to work close to home. More than 5,400 construction jobs will be created over Ponte Vista’s build out and will generate over $325 million in salaries for construction workers and others involved in the creation of the residential community. Ponte Vista will also create 915 local permanent jobs and $31.9 million dollars in salaries.

June 6, 2008, Los Angeles Times - "Monthly Growth in Unemployment Rate is Biggest in Over 20 Years"

Furthermore: A Ponte Vista residential community would create $5.1 million of net new revenues to the City of Los Angeles after the costs of services such as police, fire and libraries are taken into account.  Much needed revenue in this time of budget deficits.