Southern California’s economy is experiencing a significant boost due to a surge in space-related startups. According to a report by the Los Angeles County Economic Development Corporation (LAEDC), the region’s aerospace and defense industries have added 11,000 jobs between 2022 and 2024. These jobs offer an average wage of $141,110, which is more than double the county’s average wage.
The LAEDC’s 2025 Economic Forecast Report highlights the resilience of Los Angeles County’s economy, despite recent challenges such as wildfires and economic uncertainties. Stephen Cheung, President and CEO of LAEDC, stated that the county’s economic growth in 2024 demonstrates its ability to address future challenges.
The SoCal Aerospace Council, part of the LAEDC, plays a crucial role in supporting and expanding the aerospace sector. The council focuses on creating a competitive aerospace community by involving industry executives, labor organizations, and educational institutions. Their efforts aim to foster job creation and expand opportunities for underrepresented communities in Los Angeles.
The space industry in Southern California is also benefiting from technological advancements such as 5G and the Internet of Things (IoT). These technologies are opening new capabilities and opportunities for startups and established companies alike. The tech needs of the Space Force are creating additional opportunities for non-aerospace companies and startups, further driving economic growth in the region.
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