SOURCE: Los Angeles County Economic Development Corporation (LAEDC)

March 24, 2007 01:02 ET

LAEDC Elects Raymond Holdsworth as 2007 Chairman of Region's Premier Business Organization

Business and Civic Leader Holdsworth, Vice Chairman of AECOM, to Build Upon the Successes of Former Chair Rod Banks and Continue to Lead the LAEDC to New Heights

LOS ANGELES, CA -- (MARKET WIRE) -- March 24, 2007 -- The Board of Governors of the Los Angeles County Economic Development Corporation (LAEDC) today announced Raymond W. Holdsworth as the new chairman of the LAEDC, a private, non-profit organization whose mission is to attract, retain and grow businesses and jobs in the regions of LA County. Holdsworth succeeds Rod Banks who, in addition to serving as LAEDC chairman, is executive vice president at Bank of America.

"It's an honor and a privilege to be entrusted with this role of helping to lead the LAEDC in its mission to promote economic vitality in the greater Los Angeles region," said Holdsworth, vice chairman of AECOM, a leading global provider of engineering design and management services in the transportation, facilities, and environmental markets. AECOM also employs approximately 28,000 employees and has annual revenues of $3.4 billion.

"I am confident that with Ray's leadership as chairman, LAEDC will be poised to make big strides in further developing a positive economic climate in the region," said current chairman Rod Banks. "He is the perfect fit for this position and will take the baton and run with it."

Before being named vice chairman in 2005, Holdsworth served as AECOM president. During his tenure, he led growth and diversification activities that significantly broadened AECOM's business lines and geographic reach. He spearheaded several acquisitions and helped shape the operating structure of AECOM to enhance the delivery of client services and optimize client satisfaction. Prior to his joining AECOM in 1992, he held senior management positions at DMJM (which he joined in 1981), leading the company through a period of sustained expansion and significant project achievement.

Holdsworth has more than 30 years of professional experience. He began his career at Peat Marwick Mitchell and moved to California's Office of Transportation Planning and Research as then Governor Ronald Reagan's appointee. In 2003, he served as Chairman of the California Chamber of Commerce, and in 2004 was also appointed by Governor Schwarzenegger as a trustee of the California State University system.

"Rod Banks was extremely successful in engaging the Board and growing the visibility, revenues and impact of the LAEDC. Under his leadership, we helped retain more than 40,000 jobs for the County, launched two economic forecast events and the Southern California Leadership Council and increased public and private support for the LAEDC by more than one million dollars," said Bill Allen, LAEDC president and CEO. "I am certain that Ray will continue to elevate the organization. He brings a wealth of knowledge and passion to the LAEDC, and I believe we are poised for tremendous growth in the next several years. He has already demonstrated remarkable leadership and vision for the LAEDC over the past year as the founding co-chair of our Southern California Leadership Council and as the creator of our new California Transportation and Logistics Institute founded in partnership with the California Community Colleges and the California State University office. I look forward to working closely with Ray and the entire LAEDC Board to promote the region's business growth and job creation."

Holdsworth will begin his chairmanship on April 2, 2007.

About LAEDC:

The LAEDC, the region's premier business leadership organization, is a private, non-profit organization established in 1981 under section 501©(3). Our mission is to attract, retain, and grow business and jobs in Los Angeles County. Since 1996, the LAEDC has helped retain or create more than 128,834 jobs, providing $5.3 billion in direct economic impact from salaries and $91.3 million in annual tax revenue benefit to Los Angeles County. For more information, please visit www.laedc.org.

[Editors: For media interviews please call: George McQuade at 818-340-5300 or 818-618-9226. For more information about LAEDC, contact: Nhien Barros, LAEDC, at 213-236-4816 or email nhien.barros@laedc.org or visit www.laedc.org.]

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