Since 1979, the LDC of East New York has serviced thousands of entrepreneurs and business owners. During the 1960s and 1970s, East New York experienced rapid and severe deterioration in the form of housing abandonment, business closings, and a welter of ills that accompanied the flight of the area’s middle class. As businesses closed or left the area, many industrial and commercial buildings remained vacant and became derelict; others were demolished and large parcels of commercial and industrial land became available. In 1979, owners of local businesses located in the area founded an organization to address the circumstances that made it increasingly difficult to conduct business in the community.
In 1989, the LDC initiated one of the first entrepreneurial training programs in New York City. This program, which continues until today, provides training, counseling and technical assistance to local entrepreneurs seeking to start or expand their businesses. Over the years, the LDC has expanded its programs to include not only business issues, but also other aspects of the community, including commercial revitalization of local shopping strips, and wealth building and management for low-to-moderate-income residents. In addition, in 2010 the LDC finished construction and rental of its first housing development project, consisting of 87 units of affordable housing and retail as an anchor project on one of the area’s commercial strips.
Today East New York is a safer, more desirable neighborhood to do business in than it was during the 1970’s. With an influx of new industrial companies and community revitalization programs, East New York has regained its footing in the economic fabric of New York City.
Award winning entrepreneurial programs and a wide range of marketing services make it possible for residents and business owners to start and grow enterprises leading to the increase of wealth and the eradication of poverty.