The Economic Development division is dedicated to enhancing El Segundo's economic vitality. El Segundo has been a haven for business since its founding in 1911 as the home of Standard Oil Company's "second" refinery. Since that time, the business community has continued to grow in stature. Becoming a global leader in aerospace, information technology, and other major industries. With it's pro-business and can-do attitude serve as foundations for its strong economic base and broad business appeal.