Four Los Angeles County life sciences projects are receiving funding to support goals that include adding jobs, creating multitenant facilities for graduation-stage companies, financially supporting emerging businesses and attracting large employers to the area.
The state of California has awarded $23.9 million to Los Angeles County life sciences projects to advance inclusive growth and create 10,000 regional jobs by 2030, the Los Angeles County Department of Economic Opportunity announced this month.
The goals to advance growth and add jobs—including 4,000 in LA County—were laid out in a strategy and action plan announced in July. In a letter opening the plan, the Los Angeles County Life Sciences Advisory Board noted that the strategy focuses on sectors where the county is well positioned for growth at scale, including biopharmaceutical research and development, medical devices, the convergence of life sciences with artificial intelligence and the expansion of advanced life sciences manufacturing.
“Together, these sectors represent the future growth of the industry and are critical to building a resilient, inclusive, and innovation-driven economy,” the board wrote. “By leveraging our strengths in these fields, the region has the potential to become a national and international benchmark for life sciences excellence.”
The four interconnected regional projects receiving state funding are:
- Los Angeles County Department of Economic Opportunity (DEO): DEO is receiving $19 million to address the county’s shortage of affordable lab and manufacturing space for life sciences companies that have completed the incubation stage. The agency will use the funding to develop specialized, multitenant facilities for graduation-stage businesses, helping to alleviate a key growth constraint in the region.
- Larta Institute: The nonprofit organization was awarded $3.3 million to expand and enhance its Heal.LA platform, which promotes innovative and promising bioscience and healthcare startups. Larta will extend its work to more emerging companies, providing funding and technical assistance to ensure that entrepreneurs creating businesses and good-paying jobs continue growing in the LA region.
- BioScienceLA: The not-for-profit organization is receiving $920,000 for its asset map platform and activation campaign. The two tools combine real-time data with community-driven storytelling to provide the visibility and alignment needed to accelerate inclusive job creation, expand economic mobility and position the LA region as a globally competitive, equity-driven bioscience hub.
- Los Angeles County Economic Development Corporation: The nonprofit was awarded $700,000 to support attracting two to four large life sciences companies from outside California to Los Angeles County. That effort will include securing commitments for up to 1,000 new jobs and is expected to help catalyze inclusive economic growth across the bioscience sector.
The funding positions the county as a national leader in life sciences innovation and job creation, according to Supervisor Holly Mitchell, who represents the area’s 2nd District.
“Life science is one of the fastest growing sectors in LA County, and this investment by California Jobs First will help build on the exciting momentum underway,” Mitchell said in the announcement. “By expanding the infrastructure companies need to grow here, we’re strengthening our economy, attracting and retaining major employers, and building the foundation for long-term growth right here in Los Angeles County.”
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