The Los Angeles City Council is seeking to persuade CODA Automotive, Inc. to relocate its national headquarters, currently in Santa Monica, to the 10th Council District.
Councilmembers Herb Wesson, 10th District; Tom LaBonge, 4th District; and Eric Garcetti, 13th District, co-authored a motion last Friday for the 10th District to receive $600,000 from the AB 1290 Fund, which contains community redevelopment funding to help with the move.
“There is a great need to assist CODA Automotive, Inc. in their effort to relocate their new national headquarters to a site within Council District Ten,” Councilmembers Wesson, Garcetti and LaBonge wrote in a joint letter. “Specifically, funding is needed for various infrastructure improvements. The relocation of this company will allow for the addition of up to 500 new high-paying executive and engineering jobs within the city. This effort is of special benefit for the residents of the city and for Council District Ten and deserves financial assistance from the city.”
The councilmembers also called for the city engineer to be authorized to negotiate the necessary agreement with CODA Automotive, subject to the approval of the city attorney. The City of Los Angeles can offer the manufacturer incentives including a 35 percent reduction in fees from the Department of Water and Power.
CODA Automotive designs, manufactures and sells electric vehicles and lithium-ion battery systems for transportation and utility applications, and will release its electric sedan model later this year.
According to CODA Automotive spokesperson K. Forrest Beanum, there are no concrete plans to leave Santa Monica just yet.
“We’re looking for a new facility that will accommodate our growth plan,” Beanum said. “We’ve been in touch with many councilmembers. With this type of move, it’s a complex and nuanced process. There are many pieces that must fall in line.”
According to Beanum, the company has aggressive plans to expand and is “bursting at the seams” in its present location, and is looking to relocate within several months.
“We’re excited about this move and we’re excited about bringing jobs, whether it’s in Santa Monica or the City of Los Angeles,” Beanum said.
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