Monrovia Honored as County's Most Business Friendly Small City

The third time was a charm for Monrovia in the Los Angeles County Economic Development Corporation's "Eddy Awards" banquet last week, where the city was named the most business friendly small city in the county for 2011.

, Monrovia capitalized on its latest "Eddy" nomination in a competition that measures the business friendly policies of large and small cities in the county.

"This is an award that is coveted by every city that displays leadership in economic development, and it is a testimonial to our commitment towards attracting and retaining businesses which provide quality jobs for our residents,” said Councilman Joe Garcia in a prepared statment.

Monrovia competed against Commerce, Duarte, Gardena and La Mirada in the category of cities with populations under 60,000, taking home the top prize in Thursday's ceremony. West Covina was named the most business friendly large city.

Monrovia was also a finalist in 2008 and 2010, when it lost out to Cerritos.

Winners were selected based on the following criteria, according to a city news release:

• Demonstrated commitment to economic development as a priority

• Excellence in programs and services designed to facilitate business entry,

• Business expansion and retention

• Economic development activity over the past three years

• Competitive business tax rates and fee structures

• Availability of economic incentives

"With a diverse portfolio of businesses ranging from nationally known technology firms to “mom and pop” shops in Old Town, Monrovia offers an array of services and incentives for businesses," the LAEDC wrote in a news release. "Monrovia offers financial relocation assistance, lease/tenant subsidies, broker bounties, the Old Town business development assistance and facade improvement programs, two redevelopment project areas, no utility user tax assessment and regionally low city fees."

Monrovia was also featured on the California League of Cities' "Strong Cities/Strong State" website last week, which profiles cities throughout California that the organization considers success stories.