The Port of Long Beach is an economic powerhouse, handling $200 billion worth of goods annually and supporting 2.6 million jobs nationwide. However, the West Long Beach neighborhood that houses the port, where 90% of residents are people of color, with significant Latino, Black, and Filipino communities, suffers from poor air quality, below-average household incomes, and nearly 20% childhood poverty rates. To address these disparities, the City launched Westside Promise, a ten-year commitment to catalyze community-driven investments in historically under-resourced areas of the neighborhood.
Building on the initiative’s early successes—which include a youth-led participatory budgeting program, microloans to local businesses, and home improvement grants—this project will expand wealth creation and financial inclusion strategies for West Long Beach residents. The work will focus on supporting household asset building through expanded access to City and County resources, improving home ownership and improvement opportunities, and addressing the complete lack of banks in the neighborhood that creates significant barriers to financial access. By mapping local needs, exploring partnerships with financial institutions, and developing the city’s capacity to implement sustainable financial partnerships, the project aims to create pathways for intergenerational wealth building and ensure Long Beach residents have access to financial empowerment resources regardless of their neighborhood.