LOS ANGELES : City Council OKs Spending Plan to Attract Business
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In an effort to keep employers from leaving the area, the Los Angeles City Council on Wednesday approved Mayor Richard Riordan’s proposal to spend more than $1.9 million this fiscal year to retain and attract businesses.
Under the mayor’s plan--passed by a 11-0 council vote--the city will hire 19 people and a marketing firm to launch a public relations effort to stop other areas from luring Southern California firms. Los Angeles would also offer incentives to employers, including tax breaks and loans.
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