Find Out More About the Palos
Verdes Estates, Rancho Palos Verdes and Torrance Area
Economy & Job Market
Palos Verdes Estates
Service industries (educational, health and social) provide
the majority of employment in Palos Verdes Estates, with
management services making up 17.9% of the job market.
Finance, insurance and real estate businesses employ 13.1%
of the local workforce, and manufacturing makes up most
of the remaining 12.3%. IT and software development is
a growing area.
A strong and supportive local Chamber of Commerce provides
business support programs, networking opportunities, advertising,
and additional benefits to members; tourism and an affluent
resident population provide further boosts the local economy.
Rancho Palos Verdes
The education, health and social sectors employ around
21.3% of the local workforce in Rancho Palos Verdes, while
management services (professional, scientific, management,
administrative and waste) hire around 15.4%. Manufacturing
and retail comprise the majority of the remaining 14.5%.
A strong local economy is supported by a sensitive City
Council and pro-active Chamber of Commerce. Careful planning
and a vital retail environment have created an attractive
place to visit and shop, and a population of community-minded
local residents with high-level spending power.
Torrance
Torrance has grown from a small industrial community to
a retail, financial and corporate center that provides
a positive climate for business. Numerous major employers
make their headquarters there, including Honda, Toyota,
Epson and Kubota. The major oil refinery, Exxon/Mobile,
hires many employees. Although the airline and hotel industries
were hard hit after 9/11, recovery has been rapid, and
many industries and start up companies are doing well.
Movie & TV production is thriving throughout the South
Bay, while aerospace/communication companies are flourishing
in nearby El Segundo, Redondo Beach and Manhattan Beach.
Many ancillary companies, services and products help these
major industries. International trade and related business
activities are rapidly growing in the area, and Torrance
is well positioned to capitalize on this opportunity.
The City also serves as a financial and retail center
for the surrounding communities. Educational, health and
social services make up about 17.8% of the workforce in
Torrance, with manufacturing providing 17.5%, management
services 12.1% and retail trade 11.4%. The Torrance Memorial
Medical Hospital is a large employer, and the thriving
alternative medicine scene draws many clients from the
surrounding areas.
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