Empowering Local Businesses for Major Events
The Los Angeles Business Council recently expressed strong support for Mayor Karen Bass's launch of the Procure LA initiative. This innovative program is designed to equip local businesses with the essential tools they need to seize opportunities arising from major events, such as the 2026 FIFA World Cup and the 2028 Olympic and Paralympic Games.
Creating Opportunities for Diverse Suppliers
Global sporting events like the Olympics can serve as vital catalysts for local economies. However, it's crucial that small and diverse businesses are properly prepared to access and compete for contracting opportunities associated with these historic events.
Collaboration with the Pacific Asian Consortium in Employment
In a significant move, the Los Angeles Business Council Institute (LABCi) has partnered with the Pacific Asian Consortium in Employment (PACE). This collaboration aims to enhance the inclusion of minority and diverse suppliers in the procurement processes for the 2028 Olympic and Paralympic Games. PACE, a renowned community-based business development center, provides critical business training and technical assistance focused on procurement and business expansion support.
Strengthening Local Business Capacity
PACED's role will be vital as they will onboard their extensive database of diverse employers to LABCi’s Compete4LA platform. This platform stands as the leading database for small, minority-owned, women-owned, and disadvantaged suppliers in the region. By connecting these local businesses with the resources necessary for success, the collaboration aims to ensure that the upcoming global events translate into real benefits for Angelenos.
Enhancing Access to Opportunities
The partnership between LABCi and PACE will focus on identifying small businesses within Compete4LA that operate in sectors poised to benefit from the Games, including hospitality and transportation. As part of this initiative, PACE will connect these businesses with job training centers, helping to equip them with the certifications and skills needed to navigate the competitive landscape of contract bidding.
Commitment to Community Inclusion
Moreover, through the Procure LA initiative, PACE aims to offer resources in various ethnic languages, ensuring accessibility for the diverse communities that make up Los Angeles. The languages provided will include English, Spanish, Cantonese, Mandarin, Korean, Thai, Armenian, and Tagalog, reflecting the rich cultural tapestry of the city's population.
About the Los Angeles Business Council Institute
The LABC Institute is dedicated to fostering a sustainable economy in California, acting as a bridge between business, governmental, environmental, labor, and nonprofit sectors. Established in 2010, the Institute develops policies that promote investment, job creation, and business growth. As the research and education branch of the Los Angeles Business Council—founded in 1936 and recognized for its innovative approach to policy advocacy—the Institute plays a pivotal role in shaping initiatives aligned with critical issues like education, housing, energy efficiency, and transportation.
Frequently Asked Questions
What is the purpose of the Procure LA initiative?
The Procure LA initiative aims to support local businesses in obtaining opportunities linked to major events such as the FIFA World Cup and the Olympic Games.
How will the LABCi and PACE collaboration benefit local businesses?
This collaboration will promote the inclusion of diverse suppliers in procurement opportunities and provide training and technical assistance to help businesses compete effectively.
What sectors will benefit most from this initiative?
Key sectors expected to benefit include hospitality and transportation, as they are directly related to the events being hosted.
How will PACE assist local businesses?
PACE will connect businesses with job training centers and help them acquire necessary skills and certifications to compete for contracts.
What languages will the initiative support?
To cater to the diverse communities in Los Angeles, the initiative will provide services in multiple languages, including English, Spanish, Mandarin, and several others.
