The Los Angeles County Economic Development Corp. (LAEDC) honored USC with a 2013 Eddy Award on Nov. 14 for the university’s contributions as a leading research organization, its role as the largest private employer in Los Angeles and its approval for the USC Village — the largest economic development project to be proposed in South LA.
LAEDC CEO Bill Allen commended USC’s vision to bolster and energize the growth of the region’s economy. “USC is an anchor institution in Los Angeles, a global center for arts, technology and international business, which generates significant intellectual and profitable capital,” he said.
USC’s enterprise stretches across several industries that bolster the economic stability of Los Angeles, including medical hospitals, health clinics and state-of-the-art research centers.
This past year, USC acquired the Laboratory of Neuro Imaging, a leader in the development of advanced computational algorithms and scientific approaches for the comprehensive and quantitative mapping of the brain structure and function. The university also leads in the fields of arts and business.
USC’s location provides an opportunity for students to take advantage of a living laboratory where music, film and visual arts are intertwined. The new USC Jimmy Iovine and Andre Young Academy for Arts, Technology and the Business of Innovation, an undergraduate program for students whose interests span marketing, business entrepreneurship, computer science and engineering, audio and visual design, and the arts, is an example of the forward thinking on campus.
The Eddy Awards dinner, held at the Beverly Wilshire, also honored USC Trustee Y.H. Cho MBA ’79, chairman of Korean Airlines, and SpaceX, owned by investor Elon Musk, who said the company is largely staffed by USC graduates. Cho’s current development project on the Wilshire corridor is expected to create 20,000 jobs.
USC Trustee Rick Caruso ’80, founder and CEO of Caruso Affiliated, screened a video that showcased USC’s economic stimulus before introducing President C. L. Max Nikias. In the video, Los Angeles Mayor Eric Garcetti and other city and state leaders spoke about USC’s economic impact.
Nikias concluded the ceremony with recognition of USC’s partnership with the LAEDC and of their shared commitment to attract, retain and grow businesses and jobs in the regions of LA County.
“USC will continue to work with the city to stimulate the growth of business start-ups, especially in biotech, digital media and manufacturing,” Nikias said. “We will continue to train the next generation of scholars and artists, those who make our city world-renowned for its creative vibrancy. And we will continue to better lives for our region, as well as our world.”