San Fernando Valley and surrounding communities looking at a prosperous 2026

A unifying message at a Jan. 12 business summit gathering was that 2026 is going to be a good year for the San Fernando Valley.

About 250 influential voices throughout the Los Angeles region attended the Valley Economic Alliance’s annual summit in the Orchard Conference Center on the California State University Northridge campus. The Alliance is a nonprofit, private-public collaborative consisting of businesses, government, educational institutions and community organizations.

Erika Beck, president of CSUN, touted the university’s partnerships throughout the community and the innovative career choice options for its students. “Investing in CSUN is investing in California,” Beck said. She pointed to philanthropy as one of the cornerstones to the university’s success. “Things are going exceptionally well,” Beck said. “2026 will be epic. Keep your eye on us.”

The mission of the Valley Economic Alliance is to engage and unite Valley stakeholders to raise the standards of living and economic vitality across the five-city region – Burbank, Calabasas, Glendale, Los Angeles and San Fernando — with more than 160,000 businesses and 2 million-plus residents.

Summit speakers explored the current landscape of business and industry across health care, child care, education, manufacturing and development sectors, by discussing trends, challenges and opportunities shaping the region’s economy.

California’s State Controller Malia Cohen brought a statewide perspective on fiscal leadership, accountability and strategies that strengthen communities, including those in the San Fernando Valley. She said, “California and the San Fernando Valley have a bright future.”

The Valley Economic Alliance advances its mission through the development of economics, education, workforce and the community by fostering collaboration and turning ideas into impactful action.

“My interest is in community development and the people who have power by working together to support our community,” said Summit attendee Paula Bahamon, senior vice president/community development at Mission Valley Bank in Burbank.

Among other speakers at the Summit was Zach Kokoloff, senior vice president/asset management at Hackman Capital Partners which operates Radford Studio Center in Studio City, a 55-acre hub of stages, offices and support staff.

Kokoloff said the film industry hasn’t only had to compete domestically, but also internationally because production is moving out of the United States and going to countries offering better financial incentives.

“Studios in the U.S. are struggling … productions are chasing low costs,” Kokoloff said, adding that over the next three to four years will be a “challenging time” for film production and that will affect many of the support staff who want to continue living in Los Angeles.

He reminded the audience about the production industry’s recent strike and said the next round of negotiations begins this year. “If there is a strike again, it will be crippling to Los Angeles,” Kokoloff said. “If most productions leave, it will be hard to bring it back. We have our work cut out for us.”

Burbank Mayor Tamala Takahashi spoke about the many ways her city helps businesses use the city’s concierge team that finds suitable locations within the city’s borders. The city also has a program called “tech talks” that supports innovative businesses.

Calabasas Mayor James Bozajian announced The Commons at Calabasas shopping center is adding 12 to 14 new shops and restaurants. He said a failing movie theatre will be knocked down to make way for 80 apartments.

“Big changes are coming to Calabasas,” Bozajian said. “The most significant project for our city is at Craftsman’s Corner, the oldest section of town. It’s a mixed area with new and old businesses, ripe for redevelopment.”

Glendale Mayor Ara Najarian said the city was financially and fiscally responsible. “We are building like gangbusters, building affordable (housing) units,” Najarian said. But he said, “We are losing local control by those in Sacramento, and it is a serious concern.”

Los Angeles deputy mayor Vahid Khorsand said 2026 will be an exciting time for the San Fernando Valley especially because of the FIFA World Cup soccer games coming to town this summer. Khorsand said the City Council is streamlining building permits to get construction moving along quicker. Khorsand said, “2026 will be epic and historical.”

San Fernando Mayor Joel Fajardo said his “small-business friendly” city is providing financial aid for families impacted by I.C.E. raids and down payment assistance for low income buyers. “San Fernando is a city with affordable housing and (great) neighborhoods,” Fajardo said.