What's Happening?
Speedo, a prominent swimwear brand under the UK-based Pentland Brands, is relocating its North American headquarters from Orange County to Long Beach, California. This move is strategically aligned with
the upcoming 2028 Summer Olympics in Los Angeles, where Long Beach will serve as a hub for aquatic sports. The new headquarters will be situated in a 25,000-square-foot facility at Aero Long Beach, accommodating over 130 employees. The relocation is part of Long Beach's broader economic strategy to leverage the Olympics to diversify its economy and create high-quality jobs. The city plans to host 11 Olympic events, including various water sports, and has allocated significant funds for infrastructure improvements in preparation for the games.
Why It's Important?
The relocation of Speedo's headquarters to Long Beach underscores the city's strategic use of the 2028 Olympics to boost its economic profile. By attracting a major sportswear brand, Long Beach aims to enhance its reputation as a center for aquatic sports and stimulate local economic growth. This move is expected to create jobs and foster an environment conducive to innovation and business development. Additionally, Speedo's presence in Long Beach could attract other businesses and investments, further diversifying the city's economy, which has historically relied on oil revenue. The decision also highlights the broader impact of the Olympics on regional development and infrastructure investment.
What's Next?
As Long Beach prepares for the 2028 Olympics, the city will continue to invest in infrastructure projects, with over $900 million planned over the next five years. This includes $200 million specifically for Olympics-related developments. The presence of Speedo and other businesses could lead to further economic opportunities and partnerships, potentially attracting more companies to the area. Long Beach's efforts to position itself as a hub for aquatic sports may also lead to increased tourism and international attention, providing long-term benefits beyond the Olympics.
