Long Beach Business Journal Year In Review
January 1, 2013 – The Long Beach Business Journal “Year In Review” spotlights the top newsmakers, news stories and photos of 2012, plus a look ahead to what local issues we’ll be watching closely in 2013. The seven-part series began December 24 and concludes January 1. Let us know what you think should or should not have made the lists.
1. The City of Long Beach faces a projected $10.9 million budget deficit for the 2014 fiscal year. But that’s not the only fiscal challenge the city must grapple with next year. The fiscal cliff and unfunded liabilities, like employee pensions, also are threats to the city’s economic health.
2. Despite the passage of Proposition 30, the Long Beach Unified School District, Long Beach City College and California State University, Long Beach each face millions of dollars in cuts next year.
3. Measure N, which establishes a $13 minimum wage for workers in the city’s largest hotels, is likely to face continued opposition as the Hotel Current and Best Western Golden Sails have already downsized to avoid the law’s 100-room stipulation.
4. As 2012 draws to close, Mayor Bob Foster has yet to announce his intentions for seeking a third term. If Foster opts out, April 2014 could be a re-run of 1994 when 13 candidates were on the ballot, including several current and former elected officials and well-known members of the community.
5. Eleven lawsuits challenging the city’s ban on medical marijuana dispensaries have been consolidated under one judge at L.A. Superior Court.
6. The Port of Los Angeles harbor commission is expected to decide whether the proposed BNSF railyard can proceed in early 2013.
7. The Port of Long Beach continues with its Middle Harbor and Gerald Desmond Bridge projects while moving its administration offices to a building at the Long Beach Airport.
8. The U.S. Postal Service processing and distribution center on Redondo Avenue is expected to close this year, with consolidation to begin February 1.
9. The six-acre, 550,000-square-foot Governor George Deukmejian Courthouse in Downtown Long Beach will open in September.
10. A $7-million renovation of the Long Beach Arena, which will bring new concerts, conventions and special events to the city, will be completed in August.