LOS ANGELES – Mayor Karen Bass recognized Banc of California’s new move to lease 40,000 square feet in Downtown Los Angeles and add its signage to its historic skyline as a major boost for Downtown Los Angeles’ continued resurgence and the region’s economy. Banc of California is the largest independent bank in Los Angeles and third largest bank in California. Mayor Bass is committed to restoring Downtown Los Angeles as a vibrant hub of economic, cultural and civic life.
"Los Angeles is open for business — and Banc of California’s decision to expand its footprint in Downtown LA is proof of that," said Mayor Bass. "After relocating their headquarters here, they are now doubling down on Los Angeles. This is a major boost for Downtown’s revitalization, and we are proud to have a respected financial institution commit to more office space in Downtown Los Angeles and invest for the future. It is clear that Los Angeles is a place where companies can grow and people can thrive."
Mayor Bass has taken bold action to support Downtown’s ongoing development. Earlier this month, she joined Downtown LA stakeholders, labor leaders and elected officials to officially start the expansion and modernization of the LA Convention Center. This project will be an economic engine for Los Angeles, generating more than 15,000 jobs and drawing in over $150 million in additional visitor spending each year.
Banc of California relocated its headquarters from outside of Los Angeles to Brentwood during Mayor Bass’ first year in office signaling its strong commitment to serving the city. At that time, Banc of California CEO Jared Wolff pledged $1 million in funding to establish and facilitate Mayor Bass’ City Contract Financing Program. The City Contract Financing Program was designed by Mayor Bass to help small businesses pursue procurement opportunities. Small business owners are encouraged to apply for the program to receive assistance in securing City contracts.
Learn more and apply at ProcureLA.com.