LMU plays a vital role in the economic prosperity of the L.A. area. The annual budget of more than $150 million equates to an economic impact of three-fourths of a billion dollars on the Los Angeles metropolitan area. With about 1,500 faculty and staff, LMU is a major employer in Southern California.

Since 1972, the LMU College of Business Administration has been a leader in providing guidance for small business development. In January 2006, with the help of a generous grant from the Small Business Administration, the Small Business Development Center was launched with the purpose of providing education on the topic of small business development, and expertise to small business owners in the Los Angeles region.