LOS ANGELES (CBS) — At least one Southern California city is living up to its name in the race to draw more investors.

The city of Commerce was named among the 12 finalists for the Los Angeles County’s friendliest city for business when they were announced Monday by the Los Angeles County Economic Development Corp.

Alhambra, Carson, Downey, Torrance, West Covina and Whittier are finalists for the population 60,000 and over category, and the cities of Azusa, Cerritos, Commerce, Duarte, La Mirada and Monrovia are finalists in the population 60,000 and under category.

One winner from each category will be announced at the 15th annual Eddy Awards Nov. 10 at the Beverly Hilton.

The LAEDC will also honor the county’s largest private employer and one of the nation’s leading health plan and managed care providers, Kaiser Permanente, and Do Won Chang, founder of Forever 21, one of the largest immigrant-founded companies in North America.

Inaugurated in 1996, the Eddy Awards gala recognizes economic development in the state. In 2006, the LAEDC created the business-friendly award category to recognize cities within the county that promote business-friendly programs and services.

“All of this year’s finalists have made economic development and job creation a top priority,” said LAEDC president and CEO, Bill Allen.

The finalists were selected based on the commitment to economic development as a priority; excellence in programs and services designed to facilitate business entry, expansion, and retention; economic development
activity over the past three years; competitive business tax rates and fee structures; availability of economic incentives; and effective communication with and about business clients.

According to LAEDC, each of the finalists has created a business-friendly environment that encourages businesses to locate or expand in their respective communities.

(©2010 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)

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