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Little Change in List of Santa Monica's Top Industries and Employers
By Jorge Casuso
October 4, 2017 – Santa Monica’s major economic engine remains tourism, while its largest employers are in the fields of governance, education, medicine and research, according to a list of the city’s top industries and employers released last week.
The City's top industry, listed as "accommodation and food services," employed 14,910 people in 2017, according to the City’s Department of Economic Development.
It was followed by professional, scientific and technical services, with 12,318 employees; information with 10,486; healthcare and social assistance with 9,517 employees and retail trade, with 9,233.
This year, the City surpassed the College, which was ranked second on last year’s list. Outside of that shift, the rankings mirrored those for 2016.
Entertainment companies continued to dominate the rest of the top ten -- with Activision Publishing, Lionsgate Entertainment Corp and Universal Music Group taking spots seven through nine.
ET Whitehall Inc., which owns Shutters on the Beach Hotel, rounded out the city's list of top employers.
Two hotels, the Fairmont Miramar and Shutters on the Beach, also made the list.
On the list of top sales producers were eleven Santa Monica retailers.
They included three companies cartering to home improvement -- Bourget Bros Building Materials, and Ferguson and Snyder Diamond, both of which sell decorative hardware, plumbing and kitchen appliances.
Other major retail chains on the list were Apple; Honest Company, which sells nontoxic, eco-friendly products to parents; Proactiv cosmetics; Nordstrom; Urban Outfitters and Vons.
Pacific Park, the amusement zone on the Santa Monica Pier, also made the retail list. The company is owned by CNL Lifestyle Properties Inc., a Florida real estate investment trust.
Bourget Bros, which opened its doors in 1947, was the only local retailer on the list.
It was started by three brothers who bought a concrete manufacturing plant in Santa Monica and opened Bourget Concrete Products Co. with an initial investment of $300,000, according to the company's website.
Each year, Santa Monica businesses generate more than $130 million to the City of Santa Monica’s General Fund through sales and use taxes, business license taxes, and transit occupancy taxes, City officials said.
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