Talking Business - Part 2
I’m David Kartsonis and this is part two of a video about how the last four years in Torrance have damaged our local economy. I’m here in front of the vacant building that used to be Sony Honda Mobility - also known as Afeela. My opponent calls this his largest achievement, but this businesses and those like this don’t make any sense for Torrance. Sony Honda Mobility was open here for literally just a few days before closing and leaving our city with nothing to show for it. If it had stayed open, it would have brought us negligible revenue due to the way distribution centers are taxed. Let’s talk about Friendship Cities and how converting Torrance to be a “Micro-nation” is leading us to have a “micro-economy.” If you watched my last video, you know I was endorsed by BizFedPAC. Bizfed represents 420,000 employers in Southern California. You also learned why people are calling our Torrance economy stagnant at best and failing at worst. What’s the cause? In short - the Friendship Cities Program backed by my opponent Jon Kaji.
This program started 4 years ago when my opponent took office. The first Friendship City was - unsurprisingly enough, our Mayor’s hometown. This program has ballooned to costing residents hundreds of thousands of dollars to fund all expense paid city council international trips. As a result of all this investment, Torrance has seen $0 in return and 0 new businesses. The biggest benefit being touted for this program is that it will allow the taxpayers of the City of Torrance to subsidize the Taiwanese national team when they’re in LA for the 28 Olympics.
Now, if this all sounds bad, we haven’t gotten to the bad part yet. The bad part is how many of our city staff members - especially those in the Economic Development department have been repurposed to serve as essentially glorified travel agents for some of our Councilmembers. This is where Torrance really is impacted. When our Economic Development Department isn’t doing economic development, Torrance loses. We lose businesses, we lose jobs, and we lose revenue. Most people estimate that Torrance has lost millions of dollars in revenue due to this disastrous economic development policy. After the last report of the failings of friendship cities, my opponent decided to double down and increased their travel budget by $70,000! Worst of all, those $70,000 in Friendship travel funds don’t even need to be used on approved Friendship Cities. This is the definition of a Council slush fund where they are able to use those funds to travel anywhere in the world with no justification required.
We’re at a point now where sales tax is no longer funding our city services, but instead the property taxes of our residents. We need to reverse that trend.
It’s time to put to an end this self serving program and get Torrance back to being a leader in the business community.