The late rapper Nipsey Hussle has been praised for his philanthropy, but he also cared about community economic development. His vision included the idea that, to avoid gentrification, community residents must become co-owners of developments.
Economic development incentives cost states and localities up to $90 billion a year, often starving education and social services for resources in the process. Gradually, albeit far too slowly, the field is coming to recognize the folly of developing the local economy by throwing tax dollars at corporations.
By putting inclusivity at the forefront of discussions, and by ensuring that oft-unheard voices are heard, nonprofits can fully embrace and fulfill their charge as key stewards of an emerging inclusive economic development philosophy that values everyone.
Watch this webinar to learn how nonprofits and movement activists are advancing strategies to address the economic and social inequalities of our time.
What does asset-based community development mean? While some focus on bricks and mortar, at its heart lies the power of deep organizing, as a decades-old community group in North Philadelphia illustrates.
In a new publication titled Thriving Cities, a network of 250 community-based organizations in New Jersey outlines their vision for building community and achieving greater economic justice.
Another study, a familiar outcome. This time, the focus is on Kentucky, where a study shows that state spending on corporate tax abatements is largely a waste of money, diverting resources that could support education and other public services.
December 2, 2018; Crain’s Cleveland Business and Plain Dealer
Unhappy with a struggling regional economy, a group of Cleveland leaders wants to build a community-wide, inclusive community development process and strategy that can succeed where others have failed. According to Peter Krouse, writing for Cleveland.com, the as-yet-unnamed group sees inclusivity as a key to “improving the region’s economic future…an opportunity to aspire to something greater, rather than just solving problems as they come along.” But are their good intentions doomed by their inability to recognize the implicit biases and power structures that are limiting their efforts? This large problem they’re taking on affects many struggling households. The Cleveland metropolitan area, typical of many Rust Belt cities, has lagged as the nation’s economy has grown. In June, Business Insider ranked it last among the nation’s 40 largest urban areas: “Cleveland had the highest…unemployment rate of 5.7 percent…the city’s job growth was the second-lowest, with non-farm payroll employment rising just 0.3 percent between February 2016 and February 2017.”
The call to action for this new effort was a speech attorney Jon Pinney delivered at the City Club of Cleveland, entitled, “Dead Last: Northeast Ohio’s Economy is Lagging and It’s Time to Do Something About It.” From that speech:
That is why the system needs to be realigned.
How does foundation investment in economic development actually impact poverty?
Can local co-op development in communities of color make a difference? It can, but linkages to broader strategies are critical to achieving long-term success.
