DT #687 How Los Angeles Stays a Global Economic Powerhouse

What does it take to lead one of the world's most dynamic regional economies?

In this episode of Develop This!, Dennis Fraise sits down with Stephen Cheung, CEO of the Los Angeles County Economic Development Corporation (LAEDC), to discuss his unconventional journey from social work to leading one of the nation's largest economic development organizations.

Stephen shares how his diverse career shaped his leadership style and explains why listening, collaboration, and long-term thinking are essential to building resilient communities. He also discusses how Los Angeles has leveraged its diversity, innovation, and global connections to remain one of the world's leading economic hubs.

The conversation explores LA's competitive advantages, including its strength in international trade, aerospace, entertainment, life sciences, and emerging industries. Stephen also highlights the importance of infrastructure, foreign direct investment, and regional partnerships in supporting long-term economic growth.

Another major focus is resilience. From natural disasters to economic disruptions, Stephen explains how communities can prepare for uncertainty while continuing to attract investment and create opportunities. He also shares how Los Angeles is preparing for the 2028 Olympic Games and other global events that will shape the region's future.

Throughout the episode, Stephen reflects on the importance of relationship-building, global collaboration, and embracing new technologies like AI to stay competitive in a rapidly changing economy.

A key takeaway? Strong regional economies are built through collaboration, resilience, and leaders who can unite diverse stakeholders around a shared vision.

Key Takeaways

Diverse industry clusters strengthen long-term economic resilience

International trade and global partnerships remain critical to regional growth

Infrastructure and collaboration drive sustainable economic development

Preparing for major global events creates lasting economic opportunities