Measure E

ECONOMIC INCENTIVES FOR BUSINESS DEVELOPMENT

WHAT DOES IT DO? Measure E would amend the Los Angeles City Charter to specifically allow city officials to offer economic incentives to persuade businesses to locate, expand or stay in Los Angeles. The measure specifies that incentives be provided to businesses that "will encourage economic development and provide public benefits to the City of Los Angeles and its residents." If a business receives such an incentive, it "must result in clearly identifiable public benefits."

Any plan to give incentives would have to be approved by the Mayor and the City Council.

WHAT IS THE CURRENT LAW? The City Charter is vague on the topic of economic incentives. It does not include any language authorizing or forbidding the city to provide incentives to prospective or current businesses.

HOW MUCH WILL IT COST? The text of Measure E does not say exactly what these "economic incentives" would include, only that they must be something that "could not be attained" by the business without the incentive.

WHAT DOES MY VOTE MEAN? A Yes vote on Measure E will change the City Charter to allow city officials to give economic incentives to prospective or current businesses they believe will benefit the city. A No vote on Measure E will preserve current charter provisions, which some city officials have already interpreted as a license to woo businesses with financial incentives.

WHAT DOES THE LA TIMES THINK? The Times editorial board urges a No vote on Measure E.