Magazine Smiles on Los Angeles, Ranks It a Top City for Businesses

Los Angeles gets hammered every year in the Kosmont Cost of Doing Business Survey as an expensive, high-tax, business-unfriendly place to run a company. But don’t tell that to the folks at Fortune magazine, who just listed L.A. as one of its “Best Cities for Business.” Los Angeles cracked the top 10, coming in this year at No. 8. Unlike the Kosmont survey, Fortune looks beyond the cost of doing business to consider the caliber of the local work force, new business growth, industry diversity, quality of life and a host of other factors. New York City topped the list for the second time in four years (it last took the top spot in 1997). Fortune cites the revitalization of areas such as Times Square, the Big Apple’s booming real estate market and the city’s continuing appeal as “the center of the universe” in industries from finance to fashion for its top ranking. Other top 10 picks include: San Francisco, Chicago, Washington, D.C., San Jose, Atlanta, Boston, Dallas and Denver.