Wave Staff Report
LOS ANGELES — Mayor Karen Bass hosted the city’s first Latino Business Procurement Summit May 12, bringing together more than 350 Latino business owners and entrepreneurs for a free event focused on connecting Latino-owned businesses with resources, technical assistance, to get contract-ready ahead of major global events coming to Los Angeles.
The summit was hosted by the Mayor’s Office, with participation from Square, Verizon, Los Angeles World Airports, the Port of Los Angeles, U.S. Bank, Meruelo Enterprises, PCL-Webicor JV, Swinerton and the Los Angeles Department of Water and Power, and provided local business with the support and resources as Los Angeles prepares to host the upcoming major events, billions of dollars in contracts will become available. Bass is working to ensure Latino-owned businesses are positioned to compete and succeed.
“As our city prepares for some of the world’s biggest events, we must ensure that L.A.’s small businesses are the first to benefit from these opportunities,” Bass said. “Los Angeles’ Latino business community is essential to the strength of our economy and we are making sure that they have a seat at the table.
“Latino-owned businesses are vital to our growth, and when you succeed, our entire city thrives,” Bass added. “Every contract secured is money going back into the community, supporting jobs, schools, housing and neighborhoods.
“As Los Angeles prepares to host the 2026 FIFA World Cup, the 2027 Super Bowl, and the LA28 Olympic and Paralympic Games, our business community is entering a historic era of opportunity,” said Darrell Sauceda, chairman of the Los Angeles Latino Chamber of Commerce. “We are committed to ensuring Latino-owned businesses compete for and secure major contracts tied to these transformative events.”
Participants attended expert-led panels, received technical assistance, and networked with representatives from leading sports, entertainment, and government organizations.
“As the number one business bank serving Los Angeles for over 110 years, Bank of America was proud to be part of this event as a panel moderator to help more local companies gain procurement opportunities,” said Raul Anaya, Los Angeles president of Bank of America. “L.A. is no stranger to hosting large-scale, marque events with notable ones like the World Cup games fast approaching.”
The summit marks another step in the mayor’s efforts to ensure Los Angeles’ diverse business community benefits from the historic economic opportunities.
“As one of the nation’s largest Latino-owned enterprises, Meruelo Enterprises is proud to support initiatives that expand economic opportunity and strengthen our communities,” said Luis Armona, principal owner of Meruelo Enterprises. “We thank Mayor Bass for her leadership in creating opportunities that help Latino-owned and small businesses compete for projects tied to L.A.’s upcoming global events. For decades, we have invested in California by creating good-paying union jobs, supporting small businesses, and strengthening Los Angeles communities. Inclusive procurement helps ensure businesses of all sizes have the opportunity to grow and contribute to the city’s economic future.”
