Economic Development Resources

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Local Economy

Pier Avenue panoramaThe City of Hermosa Beach is a beachfront, bedroom community, located four six miles south of Los Angeles International Airport. The City occupies 1.43 square miles and serves a stable population of 19,847, according to the California Department of Finance as of January 1, 2019. However as a beach community, Hermosa experiences a high visitor population. During the 2017-18 fiscal year, beach attendance ranged from a low of 84,900 in February 2018 to a high of 750,000 in July 2017, according to the Los Angeles County Fire Department Lifeguard Division.  
 
The three largest employment sectors are leisure/hospitality (23%), education/health (19%) and professional/management (12%), however residents enjoy access to a much more diverse employment base with the close proximity of all of the other cities in Los Angeles County. The unemployment rate in Hermosa Beach is 2.2%, compared with 4.8% for Los Angeles County, and 4.4% for California as of June 2018. Median household income of $124,849 is 105% higher than the Los Angeles County average of $61,015, with 60% of households exceeding $100,000 per year.
 
As a community with more bedrooms (10,026 units) than businesses (under 1,000), Hermosa Beach had the 19th highest percentage change (+6.5%) in secured and unsecured assessed valuation ($7.54 billion) of the 88 cities in Los Angeles County in 2018. The average median home price in Hermosa Beach as of March 2019 was $1,650,000 compared to $598,000 for Los Angeles County.
 
Sales tax receipts rose to $3.0 million in 2018-19, the highest level ever reached and the fourth consecutive record year.

Business Corridors & Zoning

 The City has four major business corridors plus the Cypress District:

  • Aviation Boulevard
  • Cypress District
  • Downtown – including Pier Plaza and Hermosa Avenue
  • Pacific Coast Highway
  • Upper Pier Avenue

View the City zoning information:

City Resources:

City Council (e.g. Downtown Subcommittee) and staff from the City Manager's Office, Community Development, Community Resources, Finance, Police and Public Works Departments work with businesses to foster a vibrant local economy while also observing regulatory and planning requirements to ensure a high quality of life for the overall community. 

City Council Meeting Staff Reports

Links:

Federal Government

  • Small Business Administration – how to start a new business, financing programs and other services - https://www.sba.gov/

State of California

Long Beach / Lakewood 
3950 Paramount Blvd., Suite 250 
Lakewood CA 90712 
(562) 982-1337 
(562) 982-1396 FAX 
LongBeach/Lakewood@abc.ca.gov 

Los Angeles County 

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