Blog: Economic Development
New Advocates on the Scene to Support the Maker Movement
A common misperception about the Maker Movement is that it is limited to crafters and hobbyists with only a narrow impact on local and regional economies. While some makers are indeed hobbyists, the movement also includes many active and nascent entrepreneurs who are interested in commercializing their products. These products can range widely, from jewelry and leather goods, to craft beer and artisanal bread, to drones and mini robots. Read More
San Francisco Fed: Workforce development may help boost business formation
This article originally appeared on SSTI.org From Main Street businesses to technology startups, research has shown the rate of new business formation in the United States has plummeted since the 1970s. In the past year, the Digest has frequently cited research from the Economic Innovation Group (EIG), the Kauffman Foundation, and the Federal Reserve on the impacts of declining ... Read More
Private Bond Market Emerging as a Tool for Inner City Community Development
Social impact investing is increasingly being utilized by Community Development Financial Institutions (CDFIs). However, CDFIs are often limited in how they can use the funds. The capital may be restricted to a narrow geography, or constrained to certain programmatic areas. Therefore, even with the expansion of their sources of capital to encompass social impact investing, CDFIs continue to explore new avenues for capital diversification. Read More
Bottoms Up: Craft Breweries Help Spark Revitalization in Inner Cities
The craft beer industry has expanded rapidly in recent years. Between 2009 and 2016, the number of craft breweries expanded from 1,596 to 5,234, according to the Brewers Association. The number of craft breweries increased by 16.6 percent between 2015 and 2016 alone. Read More
As New Orleans Economy Recovers, Focus Shifts to Growing Inclusive Clusters and Entrepreneurship
Among its devastating effects, Hurricane Katrina had a destructive impact on regional employment. The storm, and its aftermath, eliminated more than 190,000 jobs in New Orleans alone. In the months following the disaster, employment rolls fell precipitously and remained stubbornly low, even as investment in the city began to increase. Now, over 10 years later, the New Orleans economy is bouncing back, and a focus on clusters and entrepreneurship are some of the major drivers of the city’s post-Katrina growth. Read More