Promote wealth creation in under-served areas
The economic competitiveness of any region begins with the microeconomy. Supporting households to create wealth empowers families to make investments that they would otherwise be unable to manage. An Individual Development Account savings program, for instance, can help families pay for postsecondary education or for a down payment on a house. In turn, these micro-investments can improve the region’s economic competitiveness.
Some questions to guide your thinking
- What wealth creation programs already exist in the city?
- How can the city facilitate access to already existing programs?
- What new programs can the city help to create?
Building a new paradigm for community development initiatives
Drexel University 30 minutes
This paper describes seven strategies to drive the systemic changes that need to occur in policy, practice, and institutions to transform the community development paradigm into a "Community Wealth" paradigm.