A Framework for Business and Job Creation for the Eastern Sector of the Rosecrans
Introduction
The Rosecrans Corridor requires new investment to achieve and maintain a strong economic presence in Gardena. This report highlights the following key strategies for attracting new investment:
- Identify physical assets that will boost the area’s economic prospects and help it secure a spot in the City’s overall economy.
- Clarify some of the challenges that existing businesses face in the city and provide a roadmap to begin working on and eliminating these problems.
- Contribute to the revitalization of nearby residential neighborhoods by identifying infill opportunities for residential or mixed-use projects.
Factors Affecting Economic Health
Strengths
Stakeholders recognize the value of the area’s strategic location next to the 105, 110, 91 and 405 Freeways in attracting new businesses and residents. While part of the goal will certainly be to play on this existing strength, the area is also actively making investments in the Rosecrans Corridor, from public art installments to parking improvements to an entirely new $12 million “green” transportation center on Western Avenue.
Weaknesses
One of the main issues that policy leaders will need to tackle is the abundance of older buildings in the area, which often have safety issues and typically don’t conform to newer business requirements.
Opportunities
The “opportunity sites” that are pictured have been recognized for quality accessibility and high visibility.
Threats
Without the help of a redevelopment agency, Gardena may lose new investment and sales tax revenue to the nine surrounding South Bay cities that do have redevelopment agencies. Further, there are a number of property owners that are satisfied with the way things have always been and have shown little interest in pursuing goals relating to new development.
Recommended Economic Strategies
Among the proposed economic strategies is the enterprise zone, where the city will offer incentives, such as tax breaks, to encourage new business investment and provide jobs for existing residents. The city also plans to improve public infrastructure, and look into the development and reuse of brownfields.
After restructuring their $26 million debt, the city is now able to continue with basic operations and move towards realizing this vision of economic vitality for the eastern sector of the Rosecrans corridor.
For more information please visit: https://ced.usc.edu/files/2014/07/The-Rosecrans-Corridor-Reclaiming-It-for-Gardena.pdf