The numbers are small, especially considering that Glendale has more than 1 million square feet of unleased space, and Burbank may soon hit that figure when two massive developments are completed this year. But the positive gains in renters during the nation’s economic slide was an important indicator that businesses are finding the neighboring cities attractive, officials said.
“I think it attributes well to the strategic location that this portion of the San Fernando Valley offers and, in part, the business friendliness of the city of Burbank,” said Scott McGookin, Burbank’s economic development manager.
Officials in Burbank and Glendale have marketed the cities as cheap and convenient locations for businesses to set up operations. Glendale does not have business taxes or license fees, while Burbank’s fees are relatively small. Both are near major freeways, as well as Pasadena, downtown Los Angeles and Hollywood, officials said.
“I think that it shows the value that we’ve been talking about for a few years in that business can find the value in a place with the amenities and the good location that they need to do business,” said Philip Lanzafame, Glendale’s development services director, explaining that major shopping centers, like the Americana at Brand, add to the regional draw for businesses.
The pro-business environments in both cities are likely paying off, although the latest figures are only reflective of early 2009 and may not prove representative of the area’s draw when later statistics are taken into account, said Jack Kyser, founding economist for the Los Angeles County Economic Development Corporation.
