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Article: Defense Spending Expected to Brace Regional Economy.(Brief Article)(Statistical Data Included)
- Article from:
- Los Angeles Business Journal
- Article date:
- January 15, 2001
- Author:
CopyrightCOPYRIGHT 2001 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Forecasters expect the local defense industry to shore up Los Angeles' economy this year, as a nationwide slowdown is in the making.
Although the defense and aerospace industry in L.A. is no longer the formidable force it was 10 or 20 years ago, it still packs enough of a punch to offset the local impact of slower GDP growth, as well as slower growth in construction spending and international trade.
"The increases in defense spending will function as a buffer zone and mitigate the impact of slower GDP growth," said Esmael Adibi, director of the A. Gary Anderson Center for Economic Research at Chapman University. "The corporate headquarters of the prime ...