By Jorge Casuso
November 4, 2025 -- Santa Monica has been struggling with a sputtering local economy that has seen sales taxes drop and commercial vacancies persist, but the City's efforts to help local businesses could win an award.
On Wednesday, Santa Monica is a finalist in the Los Angeles County Economic Development Corporation (LAEDC) Eddy Awards for the “Most Business-Friendly" large city in LA County, City officials announced Monday.
The 30th annual awards ceremony at the Rose Bowl "recognizes one small city and one large city in Los Angeles County that exemplify innovation, strong partnerships, and best practices in fostering economic opportunity," according to LAEDC.
Santa Monica -- which is vying for the prize with Burbank, Glendale Palmdale and Pasadena -- was signaled out for "championing sustainability and economic resilience with programs that balance business attraction, equity, and community-driven development."
"We are shifting the role of our local government from one of regulations to one of service delivery focused on outcomes," the City's Economic Development manager, Jennifer Taylor, said in a statement.
"Santa Monica has been nominated in the past -- prior to the COVID pandemic -- but this year’s nod is especially gratifying, given how hard we have been working as a city to support our local businesses," Taylor said.
Over the past few years, Taylor said, the City has been "systematically making it easier to do business in Santa Monica" by "modernizing and simplifying" the zoning codes, updating its ordinances and streamlining its permitting systems.
It also has created a Facade Improvement grant program to support local businesses and launched the regions’ first Entertainment Zone on the Promenade, which allows visitors to buy alcoholic drinks on the Promenade and consume them on the street during certain hours.
In addition, the City has held "listening sessions" with the local business community and offered business resource fairs and a new business concierge program that connects current and prospective business owners with a member of the Economic Development team, Taylor said.
The finalists for the Eddy Awards were announced on September 22, one week after the City Council approved a resolution that articulates the reasons Santa Monica is in "fiscal distress."
The resolution was unanimously approved as the City faces declining revenues from sales taxes, transient occupancy (or bed) taxes and parking revenues, said City Manager Oliver Chi.
The resolution paved the way for an ambitious plan approved by the City Council last Tuesday that expands on its business friendly initiatives ("Council Approves Ambitious Plan to Revitalize City," October 30, 2025).
It also includes measures to tackle crime and a persistent homeless problem local businesses have been complaining about for years.
The winners to be announced Wednesday were selected by an independent Blue-Ribbon Committee of judges in a "highly competitive" process," LAEDC officials said.
This year's voting was "closer than ever, reflecting the impressive efforts underway across the region," officials said.
“Recognizing cities through this award shines a light on the critical role they play in shaping the future of our regional economy,” said Stephen Cheung, LAEDC's president & CEO.
“This year’s finalists are demonstrating how innovation, efficiency, and collaboration can create an environment where businesses thrive, residents prosper, and best practices can be shared across Los Angeles County,” Cheung said.