CRENSHAW : Arco Gives Jobs Center $1 Million

As part of a $7-million investment in the inner city, Arco has awarded the Los Angeles Urban League $1 million to establish an Entrepreneur Training and Business Development Center.

The center, scheduled to open within two months, will provide technical assistance and resource information to small-business owners, and train aspiring owners in development and management techniques.

Lodwrick Cook, Arco chairman and chief executive officer, said the company began identifying areas of the city that needed assistance immediately after last spring’s unrest.

“Arco and the private sector can’t rebuild L.A. by themselves, but we can play a critical role,” he said.

Urban League President John Mack said he was pleased with the grant. “The center will enable the Urban League to assist the black community in filling one of its greatest needs: business ownership,” he said.

The center, whose site is as yet undetermined, will offer training in financial management, marketing, business planning and loan packaging. A mentor program will allow fledgling businesses to consult with established ones for guidance. One of the most critical functions of the center, Mack said, will be assisting black-owned small business in acquiring capital.

“It’s a complaint we hear constantly--it’s difficult to get capital, and when you do get it, it’s not sufficient,” Mack said. “As a result, there’s a high washout rate of new black businesses. The Urban League can act as a catalyst in businesses gaining entree to the necessary financial institutions. Hopefully, our credibility will open doors.”

Mack said he is searching for a manager for the center, which is expected to serve about 100 black businesses and entrepreneurs this year from central Los Angeles, Crenshaw and Inglewood.

Mack also said hopes that addressing the problems faced by African-American businesses will alleviate longstanding tensions between Korean-American business owners and the black community.

“Blacks are sick and tired of other people owning most things in their own neighborhood,” Mack said. “We need to start turning that trend around.”