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Article: Industry gives way to retail at heart of city's economy. (Spotlight on Pico Rivera).(Pico Rivera Towne Center )(Brief Article)(Statistical Data Included)
- Article from:
- Los Angeles Business Journal
- Article date:
- May 13, 2002
- Author:
CopyrightCOPYRIGHT 2002 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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PICO Rivera will be taking a new turn this fall.
When the 629,000-square-foot $55-million Pico Rivera Towne Center opens, no longer will the city's residents need to drive to nearby Whittier or Downey to do their shopping. The open-air mall, along with two adjacent industrial developments, will boost the city's revenue base by $9 million in property and sales taxes, as well as business license fees, and generate up to 7,000 permanent jobs.
All three developments are located at the 200-acre former Northrop Grumman Corp. site on Washington Boulevard, the focal point of the city's economic history for most of the past 50 years. At one point, Northrop ...