AN INDUSTRIAL CITY INCORPORATED SPECIFICALLY TO KEEP ITS OWN TAX BASE
Commerce
1
companies
$9.0M
total raised
Consumer
top industries
The breakdown
1 startup on file in Commerce, spanning Consumer, 1 of 1 has disclosed funding, $9.0M combined.
- Meadow — Consumer, Series A, $9.0M raised.
A bit of history
The area's shift toward industry began in 1887 when the Atchison, Topeka and Santa Fe Railway ran its main line through, and factories followed by the 1920s. After California adopted a uniform sales tax law in 1955, neighboring cities began trying to annex this unincorporated industrial land to claim its tax revenue, so local industry leaders formed an Industrial Council and pushed to incorporate instead. Voters approved it, and the City of Commerce was created on January 28, 1960, electing Maurice Quigley as its first mayor.
Sources: Commerce, California
