Backers say the measure, for new, large firms, could create 55,000 jobs. The council also took steps to lure a Chinese car maker and Eli Broad's proposed museum.
The Los Angeles City Council approved a series of initiatives Friday aimed at invigorating the city's stagnant economy, offering a tax break for new, large businesses and taking steps to lure a Chinese car maker and a museum planned by billionaire Eli Broad.
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