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Business & Tech

Cerritos Chamber of Commerce Holds State of the City Luncheon

The Cerritos Chamber of Commerce hosted dozens of local businesses at the Cerritos Center of the Performing Arts at its State of the City Luncheon, an event designed to keep businesses up to date with the local economy.

The Cerritos Chamber of Commerce held its State of the City Luncheon on May 17 to update the local business community on the comings and goings in the Cerritos economy and business industry.

Mayor Jim Edwards presented a slideshow of recent highlights of newly established and developing businesses in Cerritos. This included:

  • Buffalo Wild Wings opened at Best Plaza.
  • Stacked Restaurant opened at Los Cerritos Center.
  • Chugh Firm built a new office and installed a sculpture of Mahatma Gandhi as part of the City's Artwork in Public Places program.
  • The city dedicated two new photovoltaic systems at the Cerritos Corporate yard in January.
  • New Rapid 84 Chevron Station has opened at Bloomfield and Artesia.
  • Philippine Typhoon relief Concert raised $5,007 for victims of Typhoon Sendong.

In addition, Cerritos now ranks 55th out of 539 cities in total sales tax collected, and 18th in sales tax per capita. 

City Manager Art Gallucci also delivered a presentation, beginning with Cerritos' recent dissolution of its redevelopmen agency due to Gov. Jerry Brown's budget cuts.

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  • On June 29, 2011, the state took action to abolish redevelopment agencies through AB 1X 26 and passed on AB 1X 27, which would have allowed the redevelopment agencies to continue in exchange for a subsidy to the state.
  • The legislation was challenged by the City of Cerritos, the League of California Cities and the California Redevelopment Agency.
  • The dissolution took effect on February 1, 2012, and ended 60 years of redevelopment.
  • Bottom line: the city will lose more than $4 million in annual revenue for staff salaries.

Despite those setbacks the dissolution has brought, Gallucci reported on improvements in Cerritos' business environment. Those included:

  • Overall retail sales in Cerritos is estimated to increase by $332,595,600 in Fiscal Year 2011-2012, a 17.6 percent improvement. 
  • Cerritos Auto Square sales is estimated toimprove by 10 percent.
  • The improvement in retail sales is estimated to result in a $3,325,960 increase in sales tax revenue for the city in Fiscal Year 2011-2012.

With the upcoming year being projected as the best in sales for the Los Cerritos Center, Gallucci lightheartedly encouraged the audience to keep spending their money within the city. 

"Shop Cerritos, Gallucci said."Don't go outside (the city). Buy your car in Cerritos!"

Other figures include:

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  • Cumulative budgetary reductions from 2008-2009 to 2011-2012 mid-year total was approximately $9,218,000.
  • Savings achieved from not filing more than 30 city positions totals approximately $2.5 million per year.
  • City Operating Budget (Proposed): $85,704,140.
  • Amount of City Operating Budget funded by the city: $78,587,180

Gallucci also gave statistics on current community and entertainment services that Cerritos has to offer.

  • The Cerritos Senior Center has nearly 600 senior visitors daily who participate in some 180,118 units of service annually.
  • More than 1.6 million people are served by the City’s parks/programs every year. Cerritos has 25 parks and recreation facilities, plus classes, special events and excursions.
  • Support to Community Groups Proposed for 2012-2013 (less than $10,000) totals $174,350 .
  • Cerritos Center for the Performing Arts sales for the 2011-2012 season totals $3,818,419 with 65,480 seats sold.

Galluci concluded by saying that the city is focused on doing what it can for its residents.

"It's for the people. It's for the kids," he said.

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