December 19, 2016
Los Angeles’ Measure S could cost the city 12,000 jobs annually and deprive the city thousands of additional housing units if passed next March, according to a study by Beacon Economics.
‘Neighborhood Integrity Initiative’ backers seek to place a two-year moratorium on most projects that require zoning plan amendments. Thereafter, the initiative will make the development approval process more difficult and the city must update general zoning plans.
Co-authors Christopher Thornberg and Robert Kleinhenz found the measure would affect roughly 15% of LA’s construction jobs. Those losses will reduce wages by $642 million, and economic output losses would reach $1.9 billion. Additionally, the delayed or abandoned projects would cost the city more than $70 million in annual sales, property, hotel bed and other taxes.
Proponents of the measure say the study inaccurately portrays what will happen. They believe the measure will promote better planning, vibrant neighborhoods and a healthier economy.
For comments, questions or concerns, please contact Dennis Kaiser
Tags: Beacon Economics, construction, development, development approval, economic output, economy, housing, jobs, los angeles, Measure S, moratorium, multifamily, Neighborhood Integrity Initiative, study, wages