Port of LA Legislation Signed into Law
- Business & Finance
Governor Jerry Brown has signed a package of bills into law by Senator Isadore Hall, III, which will modernize and diversify development at the Port of Los Angeles and surrounding communities of San Pedro and Wilmington.
California’s ports and harbors are major contributors to the state’s economy, employing tens of thousands of workers, investing billions in local and state businesses and creating hundreds of millions in state and local tax revenues.
Currently, these ports are losing market share to competitors outside of the state partially because other jurisdictions are subsidizing infrastructure improvements.
SB 63 will provide ports statewide, including the Port of LA with a valuable financing tool to help improve port infrastructure, address increased shipping volume and improve air quality by investing in technologies to reduce emissions.