Santa Monica named a “Most Business-Friendly City” finalist for second consecutive year

October 6, 2026 4:10 PM

SANTA MONICA, Calif. (Oct. 6, 2026) - For the second year in a row, the city of Santa Monica has been named a finalist for the Los Angeles County Economic Development Corporation, or LAEDC, Eddy Awards. Santa Monica was selected because of its work to streamline permitting and make it easier, quicker and cheaper for businesses to open; its Business Concierge service; and its commercial activation efforts.

The Eddy Awards are an annual celebration of economic development, leadership and opportunity in Los Angeles. Seven cities, including Santa Monica, were recognized as finalists for the "Most Business-Friendly City" Award in the large cities category, with the honorees to be announced at a ceremony at the Rose Bowl on Nov. 4.

"A city is business friendly when someone with a good idea can get a permit, open their doors and hire their neighbors without waiting on us," Mayor Caroline Torosis said. "We have spent the last several years updating our zoning, lowering fees and simplifying our processes to get there. The Realignment Plan we launched a year ago is bringing new activity, visitors and investment to spaces throughout the city. I am grateful to the Eddy Awards for recognizing Santa Monica for the second year in a row, and to the business owners who keep betting on this city."

Building upon zoning and policy updates over the last several years, the city's Realignment Plan, adopted in October 2025, further lowered costs and sped up approvals for business owners. This includes:

• Creating a $3 million Economic Development Fund to support business recruitment, tenant improvements, business attraction and Third Street Promenade renewal.
• Launching a new Small Business Relief Microgrant Program that provides one-time, $5,000 grants to small brick-and-mortar businesses in Santa Monica.
• Eliminating the city's portion of the wastewater capacity charge, allowing a 50-seat restaurant to retain $50,000 for construction, equipment, salaries or other costs.
• Reducing sidewalk dining fees by 75 percent per square foot and parklet fees by half.
• Implementing a free Simple Tables and Chairs Program that allows restaurants to offer basic outdoor dining without permits or licensing fees.
• Expanding Southern California's first Entertainment Zone beyond Third Street Promenade to attract more pop-ups and activations.
• Turning $750,000 in Metro grants into customer-generating events.
• Building out the city's Business Concierge program, which responded to more than 800 inquiries from local businesses in its first year alone.
• Decreasing turnaround time for commercial reviews. Within the first four months of the Realignment Plan, on-time first-round reviews climbed more than 40 points to 92.5 percent.
• Launching a pilot self-certification program to issue permits within five business days, cutting approval time by up to 80 percent.

This economic development work builds upon the city's strategic priority of Safe Neighborhoods and Clean Streets.

• In winter 2025, the Police Department reconfigured its staffing strategy to concentrate resources where they were most needed.
• In June 2026, the Police Department opened a new Police Substation in Downtown Santa Monica with a dedicated team of police staff physically based on Third Street Promenade to help increase community safety throughout the district.
• For the first time in 20 years, the Santa Monica Police Department is at full sworn staffing levels.
• The Realignment Plan invested $3.5 million in a capital improvements program in our commercial districts that has resulted in 502 tons of debris cleared from our streets, 837 trees pruned and $500,000 allocated for BID-selected neighborhood improvements.

The city also offered more than 20 community programs during the FIFA World Cup 2026 over the summer to attract visitors to Santa Monica. In the next year, the city will partner with big-name brands to bring major events and activations to Santa Monica including:

• a Swiss Winter Village, in partnership with Fever, on the Pier in November 2026 through January 2027.
• an ESPN broadcast center on Santa Monica Beach for Super Bowl week in February 2027.
• a new iteration of Ocean Way Festival with Goldenvoice in 2027.

And it all leads up to 2028, when the Olympic and Paralympic Games come to the Los Angeles region and Santa Monica opens its shoreline to a host of hospitality houses and international activations.

See the Santa Monica Scorecard for more information on the city's accomplishments since the launch of the Realignment Plan.

And for more information on the Eddy Awards, visit laedc.org/30theddys.

Media Contact

Brandon Powers
Chief Communications and Public Affairs Officer
[email protected]

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