Funder Briefing Economic Recovery: Strengthening Housing & Workforce Stability After the L.A. Fires

The recent Los Angeles wildfires have inflicted unprecedented damage, resulting in significant economic and social challenges. Estimates suggest total economic losses ranging from $95 billion to $275 billion, potentially making this the costliest natural disaster in U.S. history. 

The fires have destroyed over 16,000 structures, leading to a severe housing shortage and displacement of thousands of residents. According to reports, the LA wildfires significantly impacted the lives of a large portion of the city's homeless population, which was already estimated at around 75,000 people before the fires. The fires displaced many individuals living in shelters or outdoors, further exacerbating the existing housing crisis and putting them at greater risk of remaining homeless due to the destruction of temporary housing options and limited access to evacuation information and shelters. 

The impact on L.A.’s workforce is equally profound, with disruptions potentially resulting in employment losses totaling 15,430 jobs and labor income losses nearing $1.2 billion over the next year. Insured losses are projected to exceed $30 billion, placing immense pressure on the insurance industry and potentially leading to increased premiums for residents. 

This funder briefing brings together experts in housing, workforce development, and disaster recovery to explore strategies for strengthening stability in the aftermath of the fires. Discussions will focus on immediate relief efforts, long-term rebuilding plans, policy interventions, and community-led solutions to foster a more resilient and equitable Los Angeles. 

Discussion Topics: 

• What innovative approaches can be implemented to expedite the rebuilding of affordable housing, considering the destruction of over 16,000 structures? 
• How can philanthropy support the estimated 15,430 workers facing job losses due to the fires, and what programs are essential for their reemployment? 
• In what ways can displaced residents actively participate in shaping recovery efforts to ensure their needs and voices are prioritized? 
• What policy reforms and funding mechanisms are necessary to address the projected $30 billion in insured losses and support sustainable rebuilding?

Speakers

• Bobby Kobara, Strategic Initiatives Lead, TMC Community Capital 
• Rudy Espinoza, Executive Director, Inclusive Action for the City 
• Tommy Newman, Vice President, Public Affairs & Activation, United Way of Greater L.A.
• Lily Bui, Manager, Climate and Disaster Preparedness and Resilience, SoCal Grantmakers