Historical Finance and Investments Roots Formulated Los Angeles' Growth

By: Matthew Paolini


The locus of downtown Los Angeles is the Financial District, situated near to the redevelopment of Bunker Hill. The district is mostly taken up by corporate office skyscrapers, hotels, banks, law firms, and real estate companies.

On of the most visible groups historically involved in increasing investment in the city is the Los Angeles Chamber of Commerce, which is supported by over 1,600 local businesses. By promoting local businesses, the Chamber's primary goal is to improve investment to the city and surrounding region. The organization prides itself on advocating for economic growth, business prosperity and quality of life.

Early on in its existence, the group championed the West Coast region's numerous opportunities in the agriculture and international trade industries. As the city developed into a major metropolitan area, the Chamber turned it attention to civic and political activities, involving trade, education, transportation and advocacy.

At that time the organization had two major objectives: to stimulate migration to the area and to promote its products. They attempted to woo Midwestern farmers to Los Angeles because of their demonstrated expertise in that field. For the second goal, the Chamber undertook an ambitious 'California on Wheels' expedition, which consisted of a railroad car filled with the state's agricultural products, and traveled to every major town in the Midwest and South. In the two-year tour, more than a million people saw the exhibit and appropriated products offered by the Chamber.

The group also assisted in boosting grassroots investments in a couple of manufacturing businesses. The beet sugar industry significantly benefited from advancements in energy sources that helped its growth. Among these factors was the discovery of oil and the new utilization of electric power generated from water. The Chamber also brought aircraft manufacturing to the area in 1920 by sponsoring international air competitions at the local Dominguez airfield. The region's livestock market increased when the Chamber helped to create the Central Manufacturing District, serviced by the Los Angeles Junction Railway.

After the conclusion of the Second World War, the Chamber changed from being an organization that tried to attract new business to Los Angeles to one that began to focus on modern issues associated with a large metropolitan area. It also moved from a county-sponsored group to a private organization financially supported only by its members. At the advent of the modern era, the Chamber took on the name of the Los Angeles Area Chamber of Commerce.


Matt Paolini is a financial writer for CityBook.com, the family-safe online yellow pages, which carries an extensive directory on Los Angeles electronic banking systems and services.