Over the years ERC has developed quality affordable housing, facilitated the creation of jobs and served as a gateway to attract businesses to commercial retail, light industrial, manufacturing and office space in under-resourced communities in Los Angeles County.
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ERC currently owns and operates properties in multiple underserved communities throughout Los Angeles County. These properties are located in the following cities:
The ERC Business Park is located along the border of Compton and Lynwood.
The ERC Business Park in Compton and Lynwood is a 52-acre property that is the home of ERC’s administrative offices and a base of operations for over 50 tenants in fields such as healthcare and social assistance, construction, manufacturing, wholesale trade, and more.Spaces available for lease range from 2,000 square feet to 100,000 square feet, and tenants in the business park employ over 1,500 employees combined.
Learn more, download the ERC Impact Report.
ERC’s commitment to providing a public benefit to historically underserved communities is reflected in their effort to monitor and assess their impact on individuals, partners, businesses, and the local community.
Economic impact analysis is used to estimate the overall economic activity, including spill- over and multiplier impacts (referred to as indirect and induced activity), which occurs due to a particular business, event, or geography (direct activity).
In addition to the home of ERC’s administrative offices, the Business Park is home to over 50 tenants leasing spaces from 2,000 to 100,000 square feet. These tenants include businesses in the healthcare/social assistance, construction, and manufacturing industries. Outside of the Business Park, ERC owns three additional properties located in economically disadvantaged neighborhoods in Los Angeles County.
On behalf of and with consultation from ERC, LAEDC designed and administered a survey of ERC’s tenants to better understand the tenant experience and wishes moving forward. The survey was administered online and had a response rate of 70.5%, with 31 tenants leaving full or partial responses. This section contains a discussion of key results from that survey; a copy of the questionnaire is included in the Appendix, along with top line results of each question.
The initial economic activity related to ERC operations in Los Angeles County is construction and property upgrades. This generates wages and benefits paid to local workers and injects funds into the region. The expenditures incurred by ERC and employees of companies that supply goods and services to ERC properties generate demand for hiring workers and purchase additional goods and services to facilitate their business activities.
There are non-monetary impacts such as environmental, social, or health effects that cannot accurately be quantified in a traditional economic impact analysis. In this section we qualitatively outline these additional non-monetary impacts related to ERC and its programs, including community outreach and other public benefit programs.
ERC’s commitment to providing a public benefit to historically underserved communities is reflected in their effort to monitor and assess its impact on individuals, partners, businesses, and the local community.
Economic Resources Corporation provides an important range of services for small businesses and micro-businesses as a real estate owner and manager. The acquisition criteria of Economic Resources Corporation requires investing in commercial properties in underserved urban submarkets of the Greater Los Angeles region, which differs from traditional developers and landlords. This includes providing leasing opportunities for small businesses that might not otherwise have qualified for renting on the open market. By prioritizing serving and supporting its tenants over maximizing profits, ERC is able to be an asset for small business owners that require assistance. Furthermore, ERC’s locations have positive impacts on the surrounding communities as well, as they prioritize tenants that will create jobs for local residents and tenants that provide a community service.
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2600 Lynwood WayLynwood, CA 90262
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