New Businesses, Projects Bring $61 Million to City

A steep increase in revenue-generating redevelopment projects and new businesses have generated more than $61 million this year, Mayor Dee Hardison said Thursday at the third annual state of the city address.

The city has issued more than 2,000 permits this year for new businesses, including several high-tech companies and major retailers, Hardison told more than 400 business representatives at the Torrance Marriott luncheon sponsored by the Torrance Chamber of Commerce and Mobil Oil Corp. She said technology is one of the fastest-growing industries in the city.

“We’re being recognized as part of what is being called ‘California’s Technology Coast,’ ” she said.

Over the next year, residents can expect to see a number of municipal projects take shape in addition to the long-planned construction of the Wilson Park Gymnasium, Hardison said.