Socos is a subsidiary corporation of NEW that provides green maintenance services to the apartments and community centers that NEW manages. Prior to establishing Socos, NEW contracted out the maintenance of all its buildings to outside firms. Now that the maintenance of NEW buildings is handled by Socos, these jobs are filled by local residents.
Benefits to the Community
Socos is based at the NEW Prosperity Center in the Pico Union area of Los Angeles and employees (often residents of NEW Apartments) are recruited from the local area. Socos provides living-wage jobs with health benefits and job training to low-income individuals.
In addition, Socos employees are able to participate in NEW’s many proprietary educational programs including NEW Money for financial literacy, NEW Success for personal development and NEW Homeownership for buying a first home. These supplementary courses address the key barriers to economic self-sufficiency for low-income individuals.
The Future of Socos
NEW plans to expand Socos to manage other properties beyond those operated by NEW and to establish Socos as the leading eco-friendly, sustainable, property maintenance provider for properties in Los Angeles.