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During a keynote speech at a San Fernando Valley business conference this month, Los Angeles Mayor Eric Garcetti boasted about a job-creation program backed by City Hall.
“We have a green tech incubator that’s the best in the country,” Garcetti told the executives gathered at the Sheraton Universal Hotel, “which we help fund through the Department of Water and Power, and others who put money into it, spilling off and spinning off companies that are hiring people.”
A little-known nonprofit is helping Garcetti deliver his campaign promise of jobs for Los Angeles. The downtown-based Los Angeles Cleantech Incubator, which acts as a low-fee consultant to green start-up companies, has created 700 direct and indirect jobs, according to LACI CEO Fred Walti.
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