Economic forecast highlights South Los Angeles
Comprehensive plan needed
Cynthia E. Griffin | 10/24/2013, midnight
The excess number of fast food eateries also means consumers in the community have less money to spend in other ways, because this food tends to be more expensive. Hogan-Rowles said this too, makes investors more hesitant. “They may say why should I put my nice restaurant there, when they put all their money in fast food.”
Consequently, those South Los Angeles residents who are able to go to other communities to eat in restaurants, and take their buying power with them.
In addition, the SoLA report found that a large percentage of the businesses lost to the 1992 civil unrest did not rebuild nor were they replaced. This has contributed to the dire unemployment situation in the community.
Hogan-Rowles said the report laid out seven or eight recommendations including looking at the city’s homebased business and street vendor policies to make sure they are as user friendly as possible.
The second part of the study to be released in spring 2014 will look at community resources, upcoming economic development and potential projects or programs to be developed or enhanced to further address both poverty and unemployment.
Ideally, Hogan-Rowles said that she wants to bring Rise’s banking and insurance industry partners together with other major corporations, political leaders, nonprofit organizations and community stakeholders to develop a consensus plan that will bring public-private investment into South L.A.
And while the plan sounds simple, Hogan-Rowles is well aware that what she wants to do will take a long battle. “But I expect victory.”