California Jobs First launches loan fund to support life sciences and manufacturing sectors

LOS ANGELES:- The Los Angeles County Department of Economic Opportunity (DEO), with Second District Supervisor Holly J. Mitchell and Local Initiatives Support Corporation (LISC), announced its Graduation and Manufacturing Space Fund (GMSF), a revolving loan program supporting the development of multi-tenant life sciences and manufacturing space in Los Angeles County at the Health Equity Innovation Summit hosted by Larta Institute. 

In August 2025, Governor Gavin Newsom announced the award of a historic $19 million California Jobs First Regional Investment Initiative grant administered by the Governor’s Office of Business and Economic Development (GO-BIZ) and the Labor and Workforce Development Agency (LWDA) to DEO. This Jobs First award and $5.75 million from LA County’s Care First Community Investment for the GMSF and an additional Tenant Improvement Fund (TIF) is one component of a broader, multi year strategy championed by the Los Angeles County Board of Supervisors and led by DEO and regional partners to support efforts to expand life science and manufacturing infrastructure in the region to help life science industry firms start, grow, and stay in the County.

“Growing our life sciences industry must also mean expanding access to the jobs and opportunities it creates,” said Los Angeles County Supervisor Holly J. Mitchell, Second District. “The Graduation and Manufacturing Space Fund will help businesses access the specialized space they need to grow here in Los Angeles County, supporting local job creation and connecting innovation with opportunity for our communities.”

With $12 million in available awards, the GMSF aims to create 60,000-80,000 square feet of new life science infrastructure and create/retain approximately 200 jobs in the next two years. The GMSF is one of two funds recommended by DEO as part of the Life Sciences Industry Study and Action Plan. The second, the TIF, is planned for launch in early 2027, provides an additional $11 million in awards, with individual loans of up to $800,000, and will advance another 35,000 – 75,000 square feet and 100-200 jobs against the regional goals. Alongside regional industry partners Los Angeles Economic Development Corporation (LAEDC), BioscienceLA, and the Larta, these coordinated initiatives aim to remove long‑standing barriers and position the region as a leading hub for inclusive growth in the life science industry, advancing LA County’s goal of adding 10,000 inclusive life science jobs by 2030.

“Los Angeles County is home to a growing life sciences ecosystem, and our goal is to ensure that innovative companies have the infrastructure and resources to succeed at every stage of their development,” said Kelly LoBianco, Director of DEO. “The Graduation and Manufacturing Space Fund is a critical piece of our broader strategy to strengthen this industry, attract new investment, and position LA County as a leader for life sciences and advanced manufacturing. Thanks to the State of California, our Board of Supervisors, LISC, and our regional partners, we are turning this vision into long-term economic growth.”

For the GMSF, eligible property owners and qualified long-term master lease holders will be able to apply for up to $5 million in financing for design, site development, core and shell construction, shared infrastructure, code-compliance upgrades, and tenant-ready improvements. Anticipated applicants include universities, research institutions, and specialized private developers with the capacity to deliver and manage expansive facilities  that support the growth of specialized space for life-science firms. LISC will administer the GMSF application which will be released in two phases, kicking off with Phase I in mid-November and an invite-only Phase 2 in February.

“At LISC, we know this kind of investment strengthens both our economy and our communities. Creating quality jobs starts with creating the spaces and infrastructure where businesses can thrive. By supporting the development of life science and manufacturing space, we’re supporting business growth, job creation, and helping local residents access opportunities in the innovation economy. LISC is proud to partner with LA County and California Jobs First to advance economic growth throughout the region,” said Joseph Horiye, LISC Program Vice President – West.

Following application opening in mid-November, LISC and DEO will provide a virtual information session and an in-person application clinic, providing technical assistance to applicants preparing their application submissions.

Interested applicants can sign up to learn more about the GMSF and future TIF at opportunity.lacounty.gov/ lifesciences