Los Angeles is at the forefront of the increasingly crucial Blue Economy—which the World Bank defines as the “sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystem.” With this new economic opportunity emerging, AltaSea is embarking on creating a Blue Economy Network for Los Angeles that features ocean-based science and technology companies, academic researchers, ocean explorers, and marine service companies.
BLUE ECONOMY REPORT
In February, 2020, AltaSea co-authored a report, with the Los Angeles Economic Development Corporation, that includes the first new category of jobs—the “Ocean Economy”—in Los Angeles in more than a decade. The announcement was made at a press conference where the LAEDC and AltaSea were joined by Los Angles County Supervisor Janice Hahn. According to the report, the Blue Economy will produce more than 126,000 jobs paying a combined $37.7 billion in wages by 2023.
EXCERPT FROM THE ALTASEA / LAEDC BLUE ECONOMY REPORT
There are favorable circumstances to harness the full potential of the blue economy and usher in a new era of innovation in Los Angeles. A ‘sea change’ is turning the tides, and stakeholders are focusing more on developing sustainable solutions and contributing to emerging industries.
The county’s 75 miles of coastline coupled with unique location-based resources including world-class research institutions and technology companies will lead to new discoveries and the creation of well-paying jobs….Some of these new industries will provide avenues to sustain and grow our livelihoods while also addressing the serious issues of climate change, pollution and overfishing as well renewable energy and cutting-edge biotechnology.
The full report can be read here.