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The history of discriminatory policies leaves many Black and Hispanic people less resilient in the face of the economic shock caused by the pandemic. Partners Update examines this history's connections to household financial resilience.
Speakers from organizations that support small businesses and entrepreneurship discussed the challenges these businesses are facing during the pandemic. For instance, many small businesses of color were unable to tap government programs like the Paycheck Protection Program because they lacked an existing relationship with a bank. Atlanta Fed president Raphael Bostic moderated the discussion.
Join the Atlanta Fed on Thursday, January 14 at 11 a.m. (ET) for a discussion on the economic shocks caused by COVID-19 and the pandemic’s significant impact on small businesses across the country. This webinar will offer an overview of the state of small businesses in the Southeast pre-COVID-19, share preliminary findings on the virus's impact on small businesses, and suggest some potential paths forward to support small businesses. We invite policymakers, service providers, financial institutions, and nonprofits to hear the perspectives and strategies bolstering recovery and long-term resiliency of small businesses. The webinar will feature speakers from Founders of Color/Black Innovation Alliance, Latino Community Fund, Southern Bancorp, and Pathway Lending. Atlanta Fed president Raphael Bostic will moderate this discussion. The Federal Reserve Bank of Atlanta is hosting the event.
This Atlanta Fed webinar provided an overview of the Federal Reserve's Advance Notice of Proposed Rulemaking (ANPR) on Community Reinvestment Act (CRA) regulations. Officials from the Atlanta Fed's Supervision, Regulation, and Credit and community and economic development teams discussed highlights of the ANPR, explained how to submit public comments before the February 16 deadline, and answered questions from listeners.
Focusing on the role structural racism plays in our economy and society, the Federal Reserve Banks of Atlanta, Boston, and Minneapolis launched the Racism and the Economy series. Partners Update reflects on emerging lessons from the series and what it means to use data and expertise to inform policymakers.
Small businesses of color are important contributors to the national economy. The Atlanta and Kansas City Feds recently published the Small Businesses of Color Recovery Guide to help support these firms’ economic recovery. This Partners Update article provides an overview of this comprehensive guide.
Join the Center for Workforce and Economic Opportunity for its final webinar of the year at 2 p.m. (ET). The topic is why workforce data are critical to enhance job development, placement, and alignment of education and training. Guest speakers include the chief executive officer of Burning Glass Technologies, Matt Sigelman; LinkedIn’s chief economist, Karin Kimbrough, and McKinsey & Co. partner, Nikhil Patel. Our discussion will focus on a retrospective of labor market trends from 2020 and future-facing insights on what we might see into 2021. Turning labor market data into action is the focus of their work, so come learn from these executives to help drive strategies as you plan for economic recovery. The Federal Reserve Bank of Atlanta is hosting the event.
Speakers from PolicyLink, Hope Enterprise Corp., Liberation in a Generation, and the Urban Institute shared their organizations’ visions of an inclusive economic recovery, particularly for communities of color. David Jackson of the Atlanta Fed’s Community and Economic Development group moderated the discussion.
Join the Atlanta Fed on Thursday, November 12 at 1 p.m. (ET) for a discussion on the importance of inclusive recovery strategies in the Southeast. In this webinar, you will hear the perspectives and strategies of four leading voices who are working to improve outcomes for underserved communities by advocating for and developing equity-centered policies and practices. This webinar will feature speakers from PolicyLink, Hope Enterprise Corp., Liberation in a Generation, and the Urban Institute who will share their thoughts on how organizations, government agencies, and the business sector can drive an inclusive recovery. The presenters will discuss how to leverage lessons learned from previous recovery periods to support more inclusive outcomes and share insights into emerging equitable recovery strategies, frameworks, policies, and practices in the Southeast. The Federal Reserve Bank of Atlanta is hosting the event.
In the webinar, Atlanta Fed staff discussed their research and demonstrated the Bank's housing-related data tools. City officials from Birmingham and New Orleans spoke about local programs created in response to the COVID-19 recession and how they are working toward an inclusive and equitable recovery in their communities.
Join the Atlanta Fed for a discussion on housing and community development in the times of COVID-19 at 1 p.m. (ET). At this virtual roundtable, you will hear about the perspectives and available data tools of Federal Reserve Bank of Atlanta researchers and local government officials from Birmingham and New Orleans who will share their experiences working to help transform communities. The presenters will discuss how they are managing the challenges presented by COVID-19 and working toward an inclusive and equitable recovery for communities in the Southeast. The Federal Reserve Bank of Atlanta is hosting the event.
Join the Center for Workforce and Economic Opportunity for this conversational webinar at 3 p.m. (ET). The topic is the changing financial structure of the workforce system, and how it can promote connections to companies and create a prepared workforce with all parties invested. Angela Jackson, a partner at New Profit and codirector of the Future of Work Grand Challenge, will lead the discussion. Guest speakers include Tracy Palandjian, chief executive officer and cofounder of Social Finance, and Jason Tyszko, vice president of the Center for Education and Workforce at the U.S. Chamber of Commerce Foundation. They will discuss new ways of thinking about, investing in, and financing the workforce system. Both of their organizations are forging new public-private approaches to finance talent and workforce development. The Federal Reserve Bank of Atlanta is hosting the event.
Heirs’ property can result when a property owner dies without a legally recognized estate plan in place. This form of ownership disproportionately affects lower-wealth African Americans. Partners Update examines some recent legislation on heirs’ property in the Southeast.
Take the Federal Reserve Banks' annual Small Business Credit Survey to provide timely insights on small business conditions to policymakers, service providers, and lenders. Highlight your experience with COVID-19 and take the survey today! Link to the survey in Partners Update.
Join the Center for Workforce and Economic Opportunity for this conversational webinar at 2 p.m. (ET). The topic is the intersection of workforce development, regional economic development, and innovation. Our guest speakers are Midwest Urban Strategies executive director Tracey Carey and two board directors, Clyde McQueen from the Full Employment Council in Kansas City, Missouri, and Linda Woloshansky from the Center on Workforce Innovations in Gary, Indiana. Discover how they worked to create their own standing nonprofit to better coordinate their workforce practices with regional economic development by retaining and growing local talent and generating greater return on investments for their employer partners and the workforce system. The Federal Reserve Bank of Atlanta is hosting the event.
Income gaps along racial lines are the result of long-standing structurally discriminatory policies across U.S. institutions. Although laws have changed, the legacy of these policies still affects people today. Partners Update examines how benefits cliffs differentially affect minority populations.
Join the Center for Workforce and Economic Opportunity for this conversational webinar at 2 p.m. (ET). The topic is the intersection of childcare, workforce development, and economic development. Our guest speakers include the Atlanta Fed’s principal adviser for community and economic development, Brittany Birken; senior vice president of research at the Orlando Economic Partnership, Dale Brill; and former president of the United Way of Florida, Ted Granger. Learn from their experience in Florida assessing community barriers, aligning efforts and messages on policy and program development, and gaining statewide focus on childcare as a key community development priority. The Federal Reserve Bank of Atlanta is hosting the event.
Low-income individuals and communities are feeling the brunt of job losses due to the pandemic. At the same time, organizations providing support services to that population are facing their own challenges. Partners Update explores southeastern organizations’ sentiments from a national survey.
Join the Center for Workforce and Economic Opportunity for this conversational webinar at 2 p.m. (ET). The topic is racial equity and the future of workforce development. Our guest speakers include the New Orleans Business Alliance’s vice president of talent and workforce, Clair Minson, and the Heldrich Center for Workforce Development at Rutgers University’s chief economist, Bill Rodgers. Learn from our experts on economic realities for communities of color, and specifically Black communities, and how the workforce system should bring the equity imperative to the forefront to drive toward a better future for the field and the communities it aims to serve. The Federal Reserve Bank of Atlanta is hosting the event.
A new Federal Reserve System report spotlights the impact of COVID-19 on low- to moderate-income communities. This report examines the findings of a nationwide survey of over 1,800 respondents representing nonprofits, financial institutions, government agencies, and community organizations. Read Partners Update to learn more.
Join the Center for Workforce and Economic Opportunity for this conversational webinar at 2 p.m. ET. The topic is the importance of job quality as economies reopen and workers consider their next career steps. Our guest speakers include the Good Jobs Institute’s executive director, Sarah Kalloch, and the National Fund for Workforce Solutions' Janice Urbanik, senior director for innovation and strategy. Learn from our experts what it means to offer a quality job, how the workforce development field can help advance more quality employment, and what strategies can be deployed to improve opportunities in the future. The Federal Reserve Bank of Atlanta is hosting the event.
The Board expanded its Main Street Lending Program to allow more medium-sized and small businesses that were financially sound before the pandemic to receive support. Read about the changes in Partners Update.
COVID-19 exacerbates an existing affordable housing shortage in the Southeast, which lacked over a million affordable rental units before the virus outbreak began. Partners Update explores efforts to enact eviction moratoriums under the CARES Act.
Social distancing policies, mandatory business shutdowns, and shelter-in-place orders due to COVID-19 have left many small business owners vulnerable to permanent closure. Partners Update gives an overview of the state of southeastern small businesses before and during the COVID-19 pandemic.
For many working families with young children, childcare is essential to maintain employment. Childcare prepares children for kindergarten and future learning and success. Partners Update examines childcare during the economic downturn, including its costs.
The banking agencies have released frequently asked questions related to the Community Reinvestment Act and coronavirus. Learn about this expanded guidance in Partners Update.
The Board has released its annual report on household economic well-being. In April 2020, the Board conducted a supplemental survey of over 1,000 adults to gauge households' overall financial circumstances during COVID-19. Read a summary of the report in Partners Update.
Congress passed the CARES Act and other legislation to help workers who have lost their jobs during the pandemic. Partners Update considers a case study of a hypothetical laid-off restaurant worker in Birmingham and Miami and the potential financial assistance he'd receive in each city.
COVID-19 is having disproportionate health and economic impacts on racial and ethnic minority, low-income, low-wealth, and rural residents. Partners Update examines research on tracking the spread of the virus to protect vulnerable citizens.
Our community and economic development team conducted a virtual listening tour to collect real-time economic and social impacts of the COVID-19 public health crisis in low- and moderate-income communities and the organizations that serve them. Read Partners Update for a discussion of the findings.
Nurses, doctors, and emergency responders are essential workers on the front lines of the COVID-19 crisis. Many are juggling childcare while schools are closed. Partners Update explores the childcare needs of public health workers during the pandemic.
The Federal Reserve Banks have released the 2020 report on small business financial and credit experiences. A supplemental brief explores small firm resilience in light of the effects of COVID-19. Read Partners Update for a summary.
The Federal Reserve Banks have released the 2020 report on small business financial and credit experiences. A supplemental brief explores small firm resilience in light of the effects of COVID-19. Read Partners Update for a summary.
How do counselors explain benefits cliffs to clients who want to advance in their careers? The authors conducted focus groups with employment service providers to address this question.
Partners Update summarizes a recent discussion paper on benefits cliffs, which occur when a person’s gains in earnings are offset by the loss of public benefits. The paper offers potential policy interventions that may help mitigate benefits cliffs and promote career advancement.
What are the financial trade-offs a single parent faces when moving up the career ladder? The authors develop a new methodology to study the impact of benefits cliffs on the financial incentives to advance in a career.
The Federal Reserve's Small Business Credit Survey: 2019 Report on Minority-Owned Firms examines the state of minority-owned businesses, offering insights on their performance, access to financing, and experiences in the credit market. Partners Update highlights key findings from the report.
Anchor institutions such as universities and hospitals can help drive inclusive economic development in their communities. The author examines efforts to launch anchor institution strategies in New Orleans, Atlanta, and the Miami area.
When the economic development and workforce development systems are aligned, job seekers receive training and skill development that employers demand, and employers have access to a skilled workforce. Partners Update summarizes a report on the benefits of aligning the two systems.
Heirs' property is land inherited by the descendants of a previous owner, often one who did not leave a will. Partners Update discusses a comprehensive report on the issues facing these property owners, including the inability to transfer wealth to future generations.
The rapid pace of technological change requires workers to have robust digital skills in the workplace. Partners Update summarizes a recent report on strategies to invest in worker training.
The Center for Workforce and Economic Opportunity has updated its Opportunity Occupations Monitor data tool, which tracks trends in opportunity employment across the country. Partners Update discusses the tool's new features.
The latest Federal Reserve Small Business Credit Survey probes the experiences of firms with no full- or part-time employees. Despite being a key income source for their owners, these firms face acute profitability and financing challenges, says Partners Update.
The Atlanta Fed president has coauthored a paper that examines Low-Income Housing Tax Credit housing in Chicago and the potential to create inclusive communities. This Partners Update article summarizes the paper's findings.
The Federal Reserve Board has published a report that summarizes the stakeholder feedback it received from roundtable discussions on modernizing the Community Reinvestment Act. Read Partners Update for more details.
Partners Update previews a discussion paper that provides workforce development policymakers with a two-step method to incorporate evidence-based programs at scale.
The author examines a sample of recent randomized controlled trials of workforce development programs and discusses how this body of evidence could inform policymakers about what works at scale.
This roundtable included an interactive set of discussions on improving the flow and effectiveness of capital in workforce development and training systems. Participants included thought leaders and innovators from across the workforce development and community development finance sectors as well as partners from philanthropy, banking, and business. The Federal Reserve Bank of Atlanta in partnership with the Federal Reserve Board of Governors, the Federal Reserve Banks of St. Louis and Richmond, and the Carsey School of Public Policy at the University of New Hampshire cohosted the event.
CAC members advise the Board on issues affecting consumers and communities, with a particular focus on the concerns of low- and moderate-income consumers and communities. Learn how to apply for membership in Partners Update.
The 2019 report says a larger share of firms had annual revenue and employment growth, compared with previous years. Online lenders gained in popularity, with nearly one-third of firms applying to such lenders. Read Partners Update to learn more.
Measure of the wage growth of individuals. It is constructed using microdata from the Current Population Survey (CPS), and is the median percent change in the hourly wage of individuals observed 12 months apart.
The publication documents eight community development financial institution (CDFI) partnership models and details the challenges CDFI partnerships face as the industry develops. The Federal Reserve Banks of Atlanta, Minneapolis, St. Louis, and Richmond collaborated on the publication.
Community development financial institutions (CDFIs) provide affordable financial services to people and businesses in underserved communities. A recent Fed publication provides case studies on eight CDFI partnership models. Learn more in Partners Update.
Where do small businesses that sell goods and services globally go for financing? Partners Update explores the question using Federal Reserve Small Business Credit Survey data.
U.S. small businesses are important economic drivers, employing nearly half of non-self-employed workers, and financing is crucial to many firms' success. Partners Update compares southeastern small firms' performance and borrowing patterns with firms across the country.
The event recognized the 50th anniversary of the Fair Housing Act, discussed its legacy, and explored solutions to racial equity challenges that persist. The Federal Reserve Bank of Atlanta's Community and Economic Development group, Georgia ACT, Georgia State University's Urban Studies Institute, National Fair Housing Alliance, Metro Fair Housing Services Inc., and Atlanta Legal Aid Society cohosted the event in Atlanta.
Take the Federal Reserve Banks' annual Small Business Credit Survey to provide timely insights on small business conditions to policymakers, service providers, and lenders. Link to the survey in Partners Update.
Tune in to the latest episode of the Access podcast to discover how local food systems can create economic opportunity and drive economic activity in rural communities. Partners Update provides further details.
Join experts from the Federal Reserve, ncIMPACT, and Public Health Dayton and Montgomery County as they discuss the opioid epidemic and its impact on the economy. Register for the session in Partners Update.
How do small business financing experiences vary by the race or ethnicity of a firm's ownership? A new discussion paper examines data on minority-owned small businesses’ borrowing patterns.
The Federal Reserve seeks original research for its Community Development Research Conference, Renewing the Promise of the Middle Class. Get submission details in Partners Update.
The Fed Board and Cleveland Fed have released a report that examines how small business owners view online lending. Explore the findings in Partners Update.
The authors analyze data on housing costs and supply by household income level. They demonstrate the widespread shortage of housing that is affordable for low-income renters in large metros, small towns, suburbs, and nonmetro areas throughout the Southeast.
The new Opportunity Zones tax incentive is for investing in distressed communities. Register for the webinar in Partners Update to learn how the incentive may affect your community.
Tune in to the latest episode of the Access podcast, which discusses a holistic workforce development model that moves beyond traditional training programs. Partners Update provides further details.
The third annual minority banker forum will discuss the economy and diversity/inclusion and offer attendees professional development opportunities. Learn more about the September forum in Partners Update.
The report examines the structural roots and policy decisions in the South that created the current skills gap, and it offers solutions to close that gap. The Atlanta Fed's Center for Workforce and Economic Opportunity, St. Louis Fed, and National Skills Coalition collaborated on the report.
The Fed Board has issued its annual report on households' economic outlook. It shows numerous signs of growth and improvement, but differences in well-being persist across race, ethnicity, education groups, and locations, says Partners Update.
The Fed report on small firms with employees finds profitability, revenue growth, and employment growth improved over 2016. However, certain segments continue to face financing challenges, according to Partners Update.
Join other community development professionals at the 2018 event. You will learn strategies for investing in financial, human, physical, and social capital to create opportunities for communities. Register in Partners Update.
The event examined health, equity, and the economic impact of community food production. The Federal Reserve Bank of Atlanta's Community and Economic Development group, Hope Credit Union Enterprise Corporation, Self-Help Credit Union, and Food Well Alliance cohosted the event in Atlanta.
The Kansas City Fed presents the third webinar in a series on high-quality jobs for lower-wage workers. The April 26 session will feature panelists' research perspectives on developing these jobs, says Partners Update.
Two-thirds of firms polled in the Fed's 2017 Small Business Credit Survey have had trouble hiring over the past year. A new discussion paper investigates how firms use compensation, training, and job restructuring to respond.
Participate in a two-part webinar series to learn how workforce development organizations and banks can partner to improve economic opportunity for workers. Register for the sessions in Partners Update.
Community development and health professionals often work with the same residents in separate silos, but that is beginning to change. Partners Update previews a paper on emerging health-community development partnerships in the Southeast.
Health and community development professionals are learning to collaborate to address the social determinants of health. The author investigates promising partnerships in the Southeast in this first of a two-part series.
What opportunities and decent-paying jobs exist for workers who don't have a college degree? This article gives an overview of recent Fed research on the topic.
The event explored how health and community development professionals are learning to collaborate. Participants represented a variety of sectors, including health care, public health, community development, housing, government, and research. The Build Healthy Places Network, the Federal Reserve Bank of Atlanta, and the Georgia Health Policy Center cohosted the event, which was held in Atlanta during the national American Public Health Association Conference.
Partners Update analyzes real estate transaction data to understand trends in multifamily informal mortgages and the market conditions in which they are likely to occur.
Learn how business, government, nonprofits, and others have reframed workforce development as investments in opportunity and competitiveness and attracted new and leveraged existing funding.
This event provided information from a recent Federal Reserve paper on reducing barriers to mixed-income housing development, engaged in a discussion on what strategies work best for the Nashville region and how to better align resources to meet local needs, and advanced the "Housing Nashville" report initiative. The Federal Reserve Bank of Atlanta and the Nashville Mayor's Office hosted the event.
The Federal Reserve Bank of Atlanta, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency cohosted a forum in Orlando, Florida, to explore priorities, opportunities, strategies, regulatory issues, and other topics affecting community development financial institution loan funds in Florida. The Opportunity Finance Network and the CDFI Fund at U.S. Treasury were partners on the event.
Examine the economic trajectory of small and midsized cities with our updated index. Partners Update details new features and findings for practitioners who work in or with these cities.
When grandma dies without a will, property is passed on to her children, and then to each successive generation. Listen to experts discuss the complications of heirs property in a special edition episode of the Economy Matters podcast.
Heirs' property is formed when a landowner dies without a will or with a simple will that divides real estate assets equally among the descendants. The Federal Reserve Bank of Atlanta and the U.S. Forest Service's Southern Research Station hosted a gathering on heirs' property research and outreach in the southern United States, bringing together researchers, policy professionals, and practitioners. The meeting focused on challenges, opportunities, and other timely topics affecting heirs' property.
The authors investigate the extent of seller-financed installment contracts for homes in four southeastern cities and the risks and opportunities they may pose for buyers.
Tune in to the season finale of the Access podcast to explore the intersection of health and economic development. Read Partners Update for more details.
The authors conducted interviews with housing stakeholders in Atlanta, Jacksonville, and Nashville for their ideas on increasing the production of mixed-income housing in an environment of declining federal funding.
Atlanta Fed business contacts have a mostly positive outlook on economic growth in the region. Economy Matters summarizes the part of the Beige Book reporting on economic conditions in the Southeast.
After an extended period of relative stagnation, wages have been showing signs of growth. This episode of the Economy Matters podcast discusses recent wage trends and how the Atlanta Fed views wage behavior.
Financing affordable housing is a growing challenge in the Southeast. Partners Update discusses the Low-Income Housing Tax Credit (LIHTC) program that supports construction and rehab of affordable housing.
Financing affordable housing is a growing challenge in the Southeast. Partners Update discusses the Low-Income Housing Tax Credit (LIHTC) program that supports construction and rehab of affordable housing.
The brochure examines the types and share of opportunity occupations—jobs for middle-skill workers that pay at or above the national median wage—in all Sixth District states. It also depicts returns to education across the Southeast.
In an era when education's importance in the employment sector has steadily increased, what role do well-paying jobs that don't require a college degree play? An episode of the Economy Matters podcast talks to some Atlanta Fed experts.
The Labor Market Distributions Spider Chart is designed to allow monitoring of broad labor market developments by comparing current conditions to those in up to two earlier time periods that the user selects.
Does early child development plus education equal a stronger economy? The Federal Reserve System's 10th Biennial Community Development Research Conference spotlighted high-quality, emerging research on this and other questions, with featured speakers including Fed Chair Janet Yellen and Geoffrey Canada of the Harlem Children's Zone.
The Federal Reserve Bank of Atlanta and Georgia State University Health Policy Center cohosted a meeting on the social determinants of health in Georgia and concrete, actionable steps to address them. The meeting brought together a cross-sectoral group of leaders representing health care, community development, government, academia, and philanthropy.
A recent discussion paper examines housing instability and the rise of institutional investors in Fulton County's single-family rental housing. Partners Update discusses the findings and implications for communities and families.
This Board of Governors and Federal Reserve Bank of St. Louis publication includes selected papers that were presented at the ninth biennial Federal Reserve System's Community Development Research Conference. The essays explore a range of issues and concepts central to understanding how—and how well—people are able to move economically.
The Community Reinvestment Act (CRA) encourages banks to help meet the credit needs of the communities they are chartered to serve, including the low- and moderate-income neighborhoods in those areas. This video explores the CRA's provisions and how regulators evaluate a bank's CRA performance.
This eBook examines various approaches to establishing technical and career-based training and the importance of building out the skills needed for the workforce in today's increasingly complex and rapidly changing global economy.
Fed Governor Brainard visited Atlanta neighborhoods with community and economic development and supervision and regulation team members. They met with community members and organizations to discuss local efforts, reports Partners Update.
The Federal Reserve Banks of Atlanta and Philadelphia investigate the factors that contribute to employer requirements of a bachelor's degree for four key opportunity occupations.
New Philadelphia and Atlanta Fed research explores why employer preferences for bachelor's degrees for the most prevalent opportunity occupations differ significantly between metro areas. Partners Update summarizes the findings.
Institutional investors purchased thousands of homes across the country to rent them after the real estate and financial crisis. The authors examine how the rise of the large corporate landlord in the single-family rental market affected housing stability in Atlanta.
U.S. household incomes are climbing, but have southeastern states kept up with the national trend? This Partners Update article probes recent census data on household incomes to find out.
Philanthropic grants have become an increasingly important source of revenue for many U.S. communities. A new episode of the Economy Matters podcast looks at a new Atlanta Fed tool to track where these grants go and the trends they depict.
This Partners Update article uses data from the 2015 Survey of Household Economics and Decisionmaking to examine the financial well-being of households in the Southeast after the Great Recession.
Foundation grants are an important source of funding in the CED field, but are small and economically distressed metro areas at a disadvantage? To find out, the Atlanta and Philadelphia Feds coauthored a paper and developed an interactive data tool to analyze grant funding across hundreds of U.S. cities.
The Federal Reserve Bank of Atlanta and Federal Home Loan Bank of Atlanta hosted a forum in Jackson, Mississippi, to explore priorities, opportunities, strategies, regulatory issues, and other timely topics affecting community development financial institution (CDFI) banks in the Southeast.
Concentrated poverty—the proportion of the poor living in high-poverty neighborhoods—is a serious problem. A recent Community and Economic Development student paper found U.S. concentrated poverty increased significantly since the year 2000. The author examines whether concentrated poverty in the Southeast has followed a similar trajectory.
The Federal Reserve Banks of Atlanta and St. Louis, the National Disability Institute and the ABLE National Resource Center, and Washington University’s Center for Social Development hosted a forum in Atlanta to bring together a select group of leaders in the financial, disability, and 529 savings communities.
Data show a persistent widening of income inequality in this country. How can communities establish economic growth that is both strong and inclusive? Partners Update looks at a South Florida effort to improve prosperity for all and create a more resilient local economy.
The Philadelphia Fed event looked at the causes and consequences of gentrification and approaches to moving toward equitable development. This Partners Update article summarizes the symposium's research and discussions.
The Southeast's big cities are known around the world, but the region is home to far more small metropolitan areas, each with its own economic characteristics and demographic identity. The newest Economy Matters podcast discusses an Atlanta Fed tool that allows a convenient look at the economies of these cities.
How can a small city that suffers a natural disaster recover economically? The small cities study tour stops in Cedar Rapids, Iowa, to find out how the city rebounded after a 2008 flood in the second Partners Update article in a series.
An evolving economy demands workers with evolving skill sets, and training employees to meet new employment demands is an ongoing challenge. The episode discusses trends in workforce development in the Southeast as well as nationally.
Renters in many metro areas, especially those with modest incomes, increasingly struggle to find affordable housing. The authors investigate the landscape of low-cost rented housing units and spatial patterns of change in eight cities in the Southeast.
Apprenticeships have the potential to improve economic opportunity for workers who lack a traditional college education. Partners Update assesses the state of apprenticeships in the Southeast and nationally.
How does the Fed engage in economic development across the country? Will Lambe of the Atlanta Fed and Daniel Davis of the St. Louis Fed discuss various Bank initiatives in the Economic Development podcast.
Federal funding for the traditional workforce development system has declined dramatically over the past few decades. The author examines several promising alternative financing models for workforce development programs such as social impact bonds and income-share agreements.
Heirs' properties are parcels of land inherited by descendants of a previous owner who did not leave a will. This type of ownership is widespread in the Southeast and disproportionately found in low-income ethnic and racial minority families. Partners Update examines the social and economic issues associated with these properties.
What's behind the increasing rate of tenant evictions across the country? Harvard's Matthew Desmond, author of Evicted: Poverty and Profit in the American City, discussed the lack of affordable housing and shared haunting personal stories from his book at a recent Atlanta Fed event. Learn more in Partners Update.
Mapping and data visualization tools can have significant applications in the community and economic development field. This Partners Update article examines two tools that help evaluate housing and transportation costs.
Some cities have not recovered from the subprime and foreclosure crises, and negative equity—when a house is worth less than outstanding mortgage debt—remains a persistent problem. The author analyzes the characteristics of Southeast neighborhoods that continue to have negative equity.
This eBook explores the role of community and economic development organizations in workforce development and the importance of fostering and facilitating partnerships to address local workforce challenges.
Community development financial institutions have long faced challenges securing financing to assist low-income communities. One option is to become a Federal Home Loan Bank member to access additional funding sources. Partners Update discusses the membership process and new members in the Atlanta region.
How have some small cities forged a path to economic resurgence while others still languish? Representatives from several Federal Reserve Banks and place-based funders are on tour to find out. In this first Partners Update article in a series, they study a revitalized Chattanooga.
Close collaboration in the workforce development field is the current trend, creating a more accessible system for businesses and job seekers alike. The Atlanta Fed's Stuart Andreason and Dee Baird of the Cedar Rapids Metro Economic Alliance discuss research findings on how the various players collaborate in the Economic Development podcast.
The Atlanta Fed cohosted a recent symposium to examine strategies that would promote equitable transit-oriented development without gentrifying a neighborhood and displacing residents. Partners Update takes you inside the discussions.
The purpose of this ebook is to present an emerging model of economic development that focuses on using entrepreneurship and small business development as the primary tool to create community economic growth.
The city has taken a fresh approach to address neighborhood blight, according to Partners Update. This final article in our blight reduction series looks at Jacksonville's community cleanup and beautification initiative.
Through its RISE initiative—which stands for Remove blight, Increase value, Strengthen neighborhoods, and Empower residents—Birmingham is using its land bank authority to help clear tax delinquent properties and encourage investment. This second Partners Update article in a series explores that effort.
Community prosecution is one method to mitigate crime in a community through a proactive and decentralized approach to problem solving. This first Partners Update article in a series looks at how the city of Dallas is using community prosecution to reduce blight in target neighborhoods.
Published by the San Francisco Fed in partnership with CFED, What It's Worth provides a 360-degree view of the financial problems and challenges millions of American households face. The book highlights the enormous creativity and innovation underway to improve financial well-being and provides concrete ways that nearly all sectors of society can implement proven and evolving solutions.
Blight—or the proliferation of vacant, abandoned, or poorly maintained properties—is a critical issue that cities must address. The authors analyze New Orleans and Macon, which are committed to blight remediation and could become models for other cities to emulate.
An interactive tool and data set that explores 400 small U.S. cities. The index enables policymakers and practitioners to examine local trends and compare cities across four measures of economic dynamism: demographics, economics, human capital, and infrastructure.
A discussion about local initiatives to improve healthy food access in the Atlanta area and innovative cross-sector partnerships to address food insecurity, create jobs, and revitalize communities. The Atlanta Fed, Bank of America Foundation, and Reinvestment Fund cohosted the event.
Some municipalities are using community development initiatives that capitalize on the strengths of the community and its residents to improve living conditions. But what motivates residents to engage with their local government in the first place? This Partners Update article investigates findings from an Atlanta example.
Key leaders and authors of Transforming U.S. Workforce Development Policies for the 21st Century shared their perspectives on workforce development and employment-related issues with an eye toward turning the book's ideas into action. The Atlanta and Kansas City Feds, Fed Board of Governors, and Rutgers' Heldrich Center for Workforce Development cohosted the event.
The percent of the population that gained a bachelor's degree or higher rose by 7.9 percentage points from 1990 to 2010. However, only 78 of 283 metro areas were above that 7.9 percentage point increase. The author examines four labor market outcomes in those 78 "leader metros."
Community development practitioners want to know how much banks are investing in a particular geography, as that information could help them "right-size" their strategy for bank partnerships. This second Partners Update article on the CRA provides an approximate figure for the Southeast.
The forum explored conditions affecting neighborhood revitalization and equitable development in Atlanta, the challenges and opportunities that emerge when revitalizing a community, and the role anchor institutions, transportation, infrastructure, and schools play in this work. The Atlanta Fed, Enterprise Community Partners, NeighborWorks America, and local partners cohosted the event.
The report identifies good-paying jobs in the 100 largest U.S. metro areas for workers who have less than a four-year college degree. The Federal Reserve Banks of Atlanta, Cleveland, and Philadelphia collaborated on the findings. Full report (8 MB) | Infographic (392 KB)
The Community Reinvestment Act helps drive significant investments into low- and middle-income communities, but not all communities benefit equally. This Partners Update article discusses where banks are motivated to act and provides a mapping tool to illustrate where particular banks engage in community development.
Leaders from the business, government, nonprofit, and academic sectors explored some of the efforts currently under way to develop a stronger workforce. Noted Harvard University Professor Ronald Ferguson also shared a framework for providing multiple school-to-career pathways, including college and noncollege options.
Little is known about the financial lifecycle of nonemployer businesses, which are an important part of the U.S. economy. Do they obtain financing? If so, what is their source? A new paper in the Community and Economic Development Discussion Paper Series discusses findings from the 2014 Joint Small Business Credit Survey, focusing on the nonemployer firms.
New research points to soft skills as an important indicator for success in the workplace. Jonathan Finkelstein, founder and CEO of Credly, and Laura Lippman, senior fellow at Child Trends, discuss digital badging as a way to document these currently amorphous workplace skills in this Economic Development podcast episode.
Perhaps community and economic developers need a new song to sing—or so one conference presenter suggested. A new Partners Update article offers highlights from two recent conferences that addressed the need to create new approaches.
Organizations that help foster regional coordination among workforce development service providers recently convened to discuss successful strategies. Partners Update summarizes their discussions, which include key challenges and methods for surmounting them.
The forum discussed best practices in designing and implementing local housing revitalization plans and explored the challenges of blight and affordable housing in New Orleans. The Atlanta Fed, Enterprise Community Partners, and NeighborWorks America cohosted the event.
The book explores how new policies and practice can meet the changing needs of workers, businesses, and their communities. The Atlanta and Kansas City Feds and Rutgers' Heldrich Center for Workforce Development collaborated on the book, which has contributions from over 65 leading scholars and practitioners engaged in workforce development.
The factors that contribute to economic dynamism in a small city can be elusive to define and measure. This Partners Update looks at some elements of small city economic dynamism that may contribute to growth and development.
The Southeast has historically lagged behind the rest of the nation in terms of education attainment. This Partners Update article looks closely at census and other data to try to uncover some positive trends that may exist despite the lag.
The forum examined current conditions affecting equitable development and challenges that must be addressed to meet affordable housing needs in Nashville. The Atlanta Fed, Enterprise Community Partners, NeighborWorks America, and Vanderbilt University cohosted the event.
Affordable housing in Nashville is increasingly scarce. A recent study conducted by Vanderbilt University noted that a high number of cost-burdened households find it difficult to secure affordable housing near jobs and transportation. Public policy, community engagement, real estate development regulations, land use, and finance all play a role in addressing this challenge. Implementation of equitable development practices and policies can help address this problem and minimize displacement in Nashville's neighborhoods.
Job training programs and other entities often work independently in the workforce development field, which can lead to fragmentation and inefficiencies. The authors study the Atlanta area's challenges in coordinating workforce development and present best practices in other cities.
Many small cities are growing at faster rates than has occurred in decades. This Partners Update article examines factors that contribute to economically vital small cities.
The authors investigate educational attainment trends in legacy cities, older industrial areas that once relied on manufacturing and production but lost jobs and population, in this third article in a series in Partners Update.
In this second Partners Update article in a series, the authors examine educational attainment trends across the country's 50 largest metropolitan areas and how the trends may have different implications for cities and suburbs.
As the name says, these initiatives are designed to concentrate investments in a specific location, and some couple infrastructure and human capital investments. This Partners Update article summarizes place-based initiatives, describes challenges for communities incorporating such a strategy, and discusses best practices.
The lenders, also known as CDFIs, provide capital for affordable housing, small businesses, schools, health centers, and manufacturing facilities. This Partners Update article discusses CDFIs doing business in the Southeast.
One model of financial counseling couples education with delivery of point-in-time municipal services. This model and other issues relevant to financial education providers were topics at the Cities for Financial Empowerment Fund's annual meeting hosted by the Atlanta Fed's Nashville Branch, reports Partners Update.
In terms of health, the Southeast tends to trail behind other parts of the country, though efforts are under way to address these persistent challenges. This Partners Update article looks at resources generated in our region and by our Fed colleagues connecting health and community development.
The creative industries contribute about a million jobs to the U.S. economy with supporting industries offering millions more. Partners Update looks at the role the arts could play in the community development field.
In listening sessions with the Atlanta Fed, workforce training providers noted the lack of soft skills in some workers. Those skills can be roughly divided into essential and workplace skills, and this Partners Update article discusses each set of skills.
The 2014 event explored strategies that can help workers get jobs or stay employable in a rapidly changing labor market. Partners Update provides an overview of the proceedings.
Gulf Coast communities that were hard hit by Hurricane Katrina have implemented various plans to rebuild their infrastructure. In a new paper, an Atlanta Fed analyst looks at four Mississippi communities’ comprehensive plans and analyzes and compares them.
U.S. job growth was the best in 15 years in 2014, but not all those jobs pay enough to support a family. The ALICE project describes the population of workers struggling to afford basic necessities; Partners Update examines the Florida project results.
The EB-5 program was designed to attract foreign investment into economically distressed communities, but is it achieving that goal? A second blog post discusses some southeastern projects and raises several issues for community and economic developers to consider. Partners Update summarizes the findings.
High school graduation rates can have a broad effect on an area's economic vitality. How can communities implement programs to help students graduate while also providing work skills? Mike Beatty, of Great Promise Partnership, and Mike Wiggins, formerly of Southwire Company, discuss an exemplary model in an Economic Development podcast episode.
With 90 percent of the world's data generated in just the past two years, this book from the San Francisco Fed and the Urban Institute challenges policymakers, funders, and practitioners across sectors to seize this new opportunity to revolutionize our approaches to improve lives in low-income communities. It provides a road map for the strategic use of data to reduce poverty, improve health, expand access to quality education, increase employment, and build stronger and more resilient communities.
How can sector-based workforce development strategies address the needs of both employers and job seekers? Maureen Conway of the Aspen Institute and Fred Dedrick of the National Fund for Workforce Solutions discuss a recent book on the topic in an Economic Development podcast episode.
The legislation funds the public workforce development system, which provides job training and placement services across the United States. Partners Update provides an overview of the act, which goes into effect next July.
In a recent speech, Federal Reserve Chair Janet Yellen discussed widening inequality in income and wealth in the United States. Partners Update notes that she highlighted four building blocks to build economic opportunity.
The guidebook from the San Francisco Fed provides information on a variety of community development data resources, divided by topic area, along with a practical application of how to retrieve the data and suggestions on how to conduct appropriate analysis.
Community and economic developers are always looking for new ways to help revitalize economically distressed communities. The Atlanta Fed's Will Lambe looks at one rather novel program that could help; Partners Update summarizes the findings.
How can local economic development strategies evolve to address demographic changes, technological innovation, and increasing global competitiveness? Dan Gundersen, a former senior commerce official, and Rick Weddle, president of the Metro Orlando Economic Development Commission, discuss the topic in an Economic Development podcast episode.
This national convening brought together workforce, economic, and community development professionals to hear from national experts on transformative education and workforce development strategies and policies. The Atlanta and Kansas City Feds and Rutgers' Heldrich Center for Workforce Development cohosted the event.
One outcome of the recent recession is that rural poverty rates are the highest since the mid-1980s. Mil Duncan, founding director of the University of New Hampshire's Carsey Institute, discusses the issues facing the rural poor in an Economic Development podcast episode.
The U.S. housing market has been on the mend since the recession ended, but increasing property values are leaving many families of modest means priced out of the market. This Partners Update article examines inclusionary housing policies as one possible solution.
One outcome of the recent recession is that rural poverty rates are the highest since the mid-1980s. Mil Duncan, founding director of the University of New Hampshire's Carsey Institute, discusses the issues facing the rural poor in an Economic Development podcast episode.
Microbusinesses are a proven job-creation vehicle and promote economic growth. An Association for Enterprise Opportunity (AEO) report suggests their size and impact has implications for local economic development. Kim Alleyne, at AEO, provides highlights from the report in this Economic Development podcast episode.
Much of the wage growth in the United States over the last several decades has gone to the most productive (and highly educated) workers. A new Partners Update article looks at the implications for community and economic developers.
The Working Cities Challenge seeks to spur collaborative leadership in Massachusetts's smaller cities and help improve low-income residents' quality of life. Prabal Chakrabarti, at the Boston Fed, and Jessica Andors, at Lawrence Community Works, discuss the initiative in an Economic Development podcast episode.
Some 60 percent of small firms got most or all of the credit they applied for, a significant improvement over last year, according to the Atlanta Fed's first-quarter Small Business Survey. Partners Update reports on the survey results.
How can economic development practitioners best measure and track their strategies' outcomes? Tim Chase, of the Greater Wichita Economic Development Coalition, and Swati Ghosh, of the International Economic Development Council, discuss their research findings in an Economic Development podcast episode.
The economic and social challenges that affect the geographically large, diverse Appalachia region are too complex for an individual organization to address. Over 200 local and regional funding entities have formed the Appalachia Funders Network to make a greater impact, reports Partners Update.
The sixth biennial Reinventing Older Communities conference explored how communities can grow and strengthen their economies by creating opportunities for all residents. The Philadelphia Fed sponsored the event.
Though some cities plan to reduce or freeze property tax assessments for long-time homeowners, a recent Atlanta Fed blog suggests that property taxes are not a significant driver of neighborhood change. Partners Update takes a look at the issue.
The 2014 Association for Enterprise Opportunity's national conference focused on the innovations, cross-sector collaboration among players, and policy initiatives that can foster economic opportunity for solo, micro, and Main Street business owners. The Atlanta Fed cosponsored the conference.
How effective are economic development strategies that seek to grow local entrepreneurship and small businesses? Todd Johnson at Gallup and Dell Gines at the Kansas City Fed explore the successes and challenges associated with this approach in an Economic Development podcast episode.
The Florida Prosperity Partnership, a statewide coalition, links community organizations, state and local governments, and financial institutions to support residents' financial health. Partners Update looks at some of the organization's achievements.
While the city of Atlanta is an attractive place to live and work, many low-income people have not shared in that prosperity. Partners Update looks at a new web mapping tool designed to enhance regional planning and help inform policy.
State workforce development agencies are crucial in deploying federal funding related to job training and placement. Rich Hobbie of the National Association of State Workforce Agencies and Burt Barnow of George Washington University explore how these agencies are evolving as funding streams change.
Despite limited resources, UNITY of Greater New Orleans, a coalition of 60-plus local agencies, permanently housed over 500 chronically homeless people last year. Learn how the coalition achieved that success in a Partners Update article highlighting best practices in the Southeast.
This publication provides a road map of best practices in community development and a healthy communities framework that highlights the types of investments that are valuable both to financial institutions and their target communities. It also includes reference guides for ensuring planned CRA activities meet regulatory requirements and a template for how financial institutions can tell their CRA story.
Can business models be designed to support low-income populations by providing jobs, necessary training, and other support services? In an Economic Development podcast, Carla Javits and Jason Trimiew at the Roberts Enterprise Development Fund discuss their proposal for viable businesses that also include a workforce development component.
What are the economic development implications of immigration, and how can communities leverage immigrants as key workforce assets? Denny Coleman of the St. Louis Economic Development Partnership and Michael Iacovazzi-Pau of Greater Louisville Inc. discuss findings from a recent IEDC report in an Economic Development podcast.
What are the challenges facing small business after the Great Recession? Ty Barksdale of Sutton Bank and Jake Rouch of Erie Regional Chamber and Growth Partnership describe demands of the current workplace, including that workers be adaptable, collaborative, agile, and entrepreneurial.
Economists, sociologists, and other researchers discussed papers and presentations on subjects ranging from human capital and education, racial and demographic aspects of rural poverty, where food stamp issuance increased most during the Great Recession, and current poverty measurements' shortcomings. The Atlanta Fed and U.S. Department of Agriculture cohosted the event.
Lenders, regulators, and representatives of community-based nonprofit organizations met to discuss housing finance, general financial services, and small business lending, with a focus on low- to moderate-income households.
Microenterprise development initiatives can help to create and grow businesses and, in many cases, much needed jobs. Elaine Edgcomb and Tamra Thetford at the Aspen Institute discuss their proposal for encouraging microenterprise investment as a job creation strategy.
Promising practices and ideas to refine the state's workforce development ecosystem were explored by over 100 state leaders, including those in community colleges, secondary and postsecondary education, workforce development, social services, economic development and the private sector, and government. The Atlanta and St. Louis Feds and Mississippi Manufacturers Association cohosted the event.
Attracting and retaining workers is vital to the success of employers and communities. Carl Van Horn of Rutgers University's Heldrich Center for Workforce Development discusses the center's research on U.S. workers' perspectives on employment conditions and the future of the workplace.
Well-functioning credit markets are vital to support a healthy economy. Using survey results and listening sessions, the Atlanta Fed's Community Indicators Project examines consumers' access to credit in the Southeast, particularly in low- and moderate-income households. Partners Update looks at the results.
Lawmakers have considered various housing reforms that could affect homeownership rates and rental markets over the near and long term. Two experts, Ron Terwilliger of the Urban Land Institute's Terwilliger Center for Housing, and Dan Immergluck, professor at Georgia Tech, discussed potential reforms.
Large-scale economic development strategies can help facilitate job opportunities for low-income and minority populations. Victor Rubin and Sarah Treuhaft at PolicyLink discuss their proposal that infuses economic inclusion into these strategies as part of the "Big Ideas for Job Creation" project.
Communities have faced more frequent and severe natural disasters in recent decades. In a new paper, the author examines the literature to understand one particular aspect of resilience: how the built environment contributes to greater resilience by supporting and encouraging strong social networks.
Some economic development efforts have expanded beyond traditional strategies to address a more comprehensive set of issues, including neighborhood revitalization. Shirley Franklin, CEO of Purpose Built Communities and former Atlanta mayor, discusses an approach that encompasses many stakeholders and yields beneficial community results.
An economic development approach that supports locally owned businesses over nonlocally owned businesses and small companies over large ones has gained popularity since the 1980s. In a new paper, the author examines the effects of locally based entrepreneurship on local economic performance.
Regional collaboration can be an effective approach in responding to labor demands of local employers. Laura Chandler of the Southwest Alabama Workforce Development Council and Sam Covert of the Mobile Area Educational Foundation discuss how robust coordination among local workforce development players leads to more successful management of industry partnerships.
Disinvested areas of cities must often combine community and economic development efforts to achieve the goals of both. Rick Sauer and Lynn Martin Haskin of the Philadelphia Association of Community Development Corporations discuss how local institutions can support economic development at the neighborhood level.
Community Reinvestment Act loans are intended to meet the needs of a community, including those in low- and moderate-income neighborhoods. Here's a look at trends in national and southeastern data, focusing on small business and small farm loans.
How can the workforce development system better respond to people with disabilities? Kathy Krepcio, of Rutgers' Heldrich Center for Workforce Development, and Michael Morris, of National Disability Institute, discuss innovative programs and policies designed to ensure this sector is poised to meet employers' labor needs.
There is value for both the employee and employer in enhancing the skill sets of lower-wage workers. Mark Popovich of the Hitachi Foundation and Jenny Benz of the Associated Press-NORC Center for Public Affairs Research discuss findings of a recent study on this topic and implications for policy and practice.
A diverse set of issues is shaping community development policy and practice. Nearly 350 participants explored research at the Fed's eighth biennial Community Development Research Conference. New ideas, approaches, and strategies for the community development industry and academic field were discussed.
Many cities support entrepreneurs as a way to create jobs, increase investment, and restore vitality, especially in the urban core. Ray Leach from JumpStart and Joe Marinucci of the Downtown Cleveland Alliance discuss how communities can create a thriving entrepreneur base through innovative approaches to support services and by reimagining partnerships among local organizations.
How can employers be effective partners in improving the local workforce ecosystem? Peter Cappelli, professor and director of the Wharton School's Center for Human Resources, discusses how firms can provide on-the-job training for skills needed within their organizations.
What are the current trends in female entrepreneurship? Alicia Robb, senior research fellow at the Ewing Marion Kauffman Foundation, discusses recent data on women-owned firms and the challenges and opportunities in expanding this sector.
The conference discussed job market issues affecting low- and moderate-income communities. Speakers addressed the need to retool educational systems and redesign curricula to match graduates to the job market. They also explored the multiple challenges of an aging workforce, stagnant wages, and concern for the long-term unemployed. The Atlanta and Kansas City Feds cohosted the event.
Christopher King, director of the Ray Marshall Center at the University of Texas's LBJ School of Public Affairs, discusses how the country's shift to a knowledge-based economy has brought the fields of economic development and workforce development closer over the past 10 years.
Maureen Conway of the Aspen Institute discusses the results of the Institute's Courses to Employment project, which analyzed how community colleges and nonprofits worked together to help low-income adults succeed in the classroom and labor market.
How can workforce development programs achieve the greatest impacts with limited budgets? Elizabeth Weigensberg, senior researcher at Chapin Hall at the University of Chicago, discusses her recent research on the most successful workforce development program components and provides recommendations for how existing programs can be more effective.
10/24/2012 - The Southeast population grew by 13 percent from 2000 to 2010, with urban centers garnering the lion's share. What do the changing demographics portend for the region's economy? An Atlanta Fed economist offers his perspective.
Stephan Goetz, director of the Northeast Regional Center for Rural Development, discusses his recent research on the growing impact of self-employment as an economic development strategy. He also describes the types of local programs and policies that can support this sector.
The conference discussed job market issues affecting low- and moderate-income communities. Speakers addressed the need to retool educational systems and redesign curricula to match graduates to the job market. They also explored the multiple challenges of an aging workforce, stagnant wages, and concern for the long-term unemployed. The Atlanta and Kansas City Feds cohosted the event.
How can a city create an attractive business climate and leverage its unique assets to gain and retain jobs? The Greater Houston Partnership's Craig Richard discusses an approach that has worked in his city to propel significant job growth despite the weak national recovery.
Low-wage workers make up about one-third of the U.S. workforce. What hurdles do they encounter when looking for a job? The Atlanta Fed community and economic development group conducted a poll to understand the issues low-wage workers in the Southeast face.
The number of middle-income rural communities in the Southeast designated as distressed or underserved grew 45 percent between 2011 and 2012, according to federal banking regulators. Financial institutions will receive credit under the Community Reinvestment Act for revitalization or stabilization efforts in those areas.
Scott, executive director of Georgia STAND-UP, discusses critical issues for underserved communities and how her organization works with numerous partners to address key community and economic development issues.
Many cities have experienced the contraction of a once-dominant industry. The Richmond Fed's Kim Zeuli examines two North Carolina cities—Concord and Eden—that lost their textile employment base and learned to adapt to changing conditions.
Kate Marshall Dole, an analyst at the Center for Financial Services Innovation, discusses the potential that mobile banking and payments represent for reaching the unbanked and underserved communities.
Identifying disaster recovery resources and understanding how they can be knit together to fund community rebuilding can be a challenge. The Federal Emergency Management Agency (FEMA) has responded to this need by launching an online tool.
This Atlanta Fed booklet describes how the Community Reinvestment Act (CRA) affects the way banks and thrifts serve their communities' credit needs. It outlines factors that regulators use to rate a bank's CRA performance and tells where to find information on a bank's rating.
Workforce development issues require collaboration across sectors and geographies. Damian Thorman, national program director at the John L. and James S. Knight Foundation, discusses the importance of public, private, and philanthropic partnerships in addressing local and regional workforce challenges.
Rural communities have historically had high unemployment and poverty rates as well as substandard housing stock. Joseph Belden of the nonprofit Housing Assistance Council discusses housing challenges in rural areas and strategies to improve those conditions.
An Atlanta Fed research paper suggests that prevailing optimism during the housing boom and the resulting decisions made by homeowners and financial institutions were primary causes of the foreclosure crisis. The paper examines what led to some of these decisions and how policymakers might respond in the future.
Small minority businesses typically pay higher interest rates and receive smaller loans than nonminority-owned firms of similar age and size. Tim Bates, professor of economics at Wayne State University, explores ideas to increase access to capital so minority companies can create jobs and expand.
Traditional workforce development approaches may require restructuring to address current economic conditions and demographic shifts. A recent EconSouth article highlights some issues to consider in tailoring workforce development programs to meet the needs of local employers.
Some Southeastern cities have seen population declines in the last few decades. Communities facing these conditions may turn to strategies focused on "right sizing" or "smart decline," which emphasize improving the quality of life for current residents rather than attracting new ones.
Recently, the Atlanta Fed's Community and Economic Development outreach team interviewed experts across the Southeast on how local communities are responding to reduced state and local budgets. What impact is that having on households and communities in the region?
Mobile banking is a growing trend among consumers, according to recent findings from a Federal Reserve Board report. The online survey of nearly 2,300 people explores the widespread use of mobile technology to access a bank account, credit card, or other financial account.
Philip Harvey, professor of law and economics at Rutgers University, discusses how his proposed direct job creation program would create temporary public-sector jobs, and in the process, help reduce unemployment.
Two community development finance professionals discuss their strategies to support the expansion of a community health care center in a low-income neighborhood in New Orleans.
In the Southeast, overall mortgage delinquency and foreclosure trends in the fourth quarter of 2011 improved year over year. However, only Georgia and Tennessee improved on a state level in every category, and Mississippi continues to struggle with mortgage delinquencies.
Take everything you know about immigration...and throw it out the window. Sounds drastic, but University of Southern California Professor Dowell Myers argues that most of our commonly held assumptions about immigration are wrong, and he'll tell you why.
Bob Friedman of the Corporation for Enterprise Development discusses how federal tax preparation assistance for new businesses and the self-employed could facilitate job creation.
Crowdsourcing—engaging web users in a particular project—may prove to be a valuable tool for decision making among government and nonprofit entities. A crowdsourcing technique that promotes engagement and creative problem solving can empower citizens and maximize benefits to a community.
Instead of sending waste to landfills, a municipal approach that prioritizes the reuse, recycling, and remanufacture of materials can provide a range of new jobs. Georgia Tech's Nancey Green Leigh discusses how to create jobs from the waste diversion process.
Satya Rhodes-Conway and James Irwin, senior associates at the Center on Wisconsin Strategy, discuss how retrofitting public and institutional buildings spurs job creation in the real estate sector while reducing building operating costs.
This compilation of essays published by the San Francisco Fed and the Low Income Investment Fund highlights entrepreneurial solutions for addressing poverty. Authors include leading experts from across the country in community and economic development, academia, government policy, health, and philanthropy.
In the Southeast, seriously delinquent first mortgages are down slightly in the third quarter compared with the third quarter of 2010. However, foreclosure rates have seen a modest increase in that same time period, reflecting the national trend.
Over 10.7 million households owe more than their homes are worth as of the third quarter of 2011, according to Chief Economist Mark Fleming of CoreLogic. Negative equity can hinder homeowners' ability to sell their homes or, in some cases, to qualify for loan modification and refinancing programs.
On November 9-10, the Board of Governors of the Federal Reserve System hosted a forum on Small Business and Entrepreneurship during an Economic Recovery in collaboration with the Federal Reserve Bank of Atlanta and the Ewing Marion Kauffman Foundation. View materials from this event, including conference papers, video clips, transcripts, and speaker presentations.
Economic development practitioners can foster strategic collaboration among regional concentrations of firms and industries to support job growth and investment in their communities. John Fernandez, the U.S. Assistant Secretary of Commerce for Economic Development, discusses how to develop and maximize the effectiveness of regional economic development strategies.
The health care sector has been an important source of new jobs in this economy. Dr. Ricardo Azziz, president of Georgia Health Sciences University, discusses the importance of the sector to the economic well-being of communities and how its growth can help catalyze economic development.
Participants discussed issues facing small businesses and entrepreneurs in the current economic environment. The Atlanta Fed, Fed Board of Governors, and Kauffman Foundation cohosted the event.
Governor Elizabeth Duke discussed "lessons learned" from the financial crisis during a Federal Reserve Board forum on September 1. Duke also identified obstacles to the housing market recovery and explored possible solutions. One option, land banking, has a good track record in the Southeast.
Miss a Fed community development call-in? No problem! You can hear the presentations and discussion plus see the slides and related resources online after the session. Materials from the first call-in on September 8, Micro Finance: Helping to Create First-time Entrepreneurs, are available now.
Federal Reserve System webinar series provides a national audience with timely insights and information on emerging and important community and economic development topics.
The most recent Mortgage Delinquency and Foreclosure Trends from the Atlanta Fed shows a slight decrease in the percentage of mortgages in foreclosure in the Southeast from December 2010 to June 2011. But there's an asterisk beside that news.
CDFIs (community development financial institutions) are playing a growing and evolving role in job creation across the country. Donna Gambrell, director of the U.S. Department of the Treasury's CDFI Fund, discusses CDFIs and how they contribute to economic development in this second half of a two-part podcast.
Communities underserved by traditional financial institutions may need innovative methods to access credit. Community development financial institutions (CDFIs) are important partners in community and economic development.
Following hurricanes Katrina and Rita, strong community ties played a critical role in the rebuilding process. A new book with content by Atlanta Fed staff explores the important role of social networks in the rebuilding of two Gulf Coast communities.
Donna Gambrell, director of the U.S. Department of the Treasury's CDFI Fund, describes how community development financial institutions differ from other financial institutions and discusses their impact on low- and moderate-income (LMI) communities in this first half of a two-part podcast.
The new podcasts added to the Atlanta Fed's Economic Development podcast series highlight strategies that practitioners across the country are using in the postrecession economy.
Job creation and retention are top priorities for most communities across the nation and around the world. Jeff Finkle, president and CEO of the world's largest economic development membership organization, discusses how successful economic developers adapt to current issues, including the economic downturn, regionalism, and globalization.
The Atlanta Fed cosponsored conferences on green development and green finance, community development research, and increasing stability in unbanked and under-banked communities.
New research suggests that self-employment is becoming an important solution to unemployment in the Southeast, especially in rural areas. But why are there different outcomes for urban and rural areas? And what are the implications for economic developers and policymakers?
Small improvements in the "sustainability" of buildings can have large effects on greenhouse gas emissions and on energy efficiency in the economy. In today's commercial real estate market, does it also make business sense to invest in the energy efficiency or "sustainability" of buildings?
Find out the latest small business trends by industry sector, age of firm, and more in the latest report on the results of the Atlanta Fed's quarterly survey of small businesses.
The Atlanta Fed offers a new collection of small business resources, with a special focus on the Southeast. Plus, now you can explore the relationships between small business, entrepreneurship, and economic recovery through papers and presentations from a recent conference.
Economic development organizations must develop and execute job creation programs in today's difficult economy, even as their budgets are reduced. Denny Coleman, president and CEO of the St. Louis County Economic Council, discusses how local organizations can still add to the quantity and quality of local jobs.
Jay Moon, president and CEO of the Mississippi Manufacturers Association, discusses the increasingly technical and specialized skills needed to support advanced manufacturing. These skills, he says, are creating a greater focus on working with business, industry, and educational partners to develop a better-skilled workforce.
Microenterprises, which employ about 20 percent of the U.S. private-sector workforce, have been especially important since the recent recession. Connie Evans, president and CEO of the Association for Enterprise Opportunity, discusses how economic developers can grow local jobs by supporting microenterprises.
Who will pay for health care? How should it be delivered? Even though these topics arouse considerable national debate, nearly all economic developers agree on one important point: health care creates jobs.
Newly available data provide fresh insights into employment in the small business sector. Brian Headd, economist in the Small Business Administration's Office of Advocacy, explores the changing relationship of small business to jobs.
The conference investigated core issues surrounding green development and assessed the tools, challenges, and opportunities in financing this type of development. Tulane University's Master of Sustainable Real Estate Development program and the Atlanta Fed’s Center for Real Estate Analytics cohosted the event.
Today, more companies consider the health of the local workforce when deciding where to locate or expand a business. Dr. Rhonda Medows, chief medical officer and executive vice president for UnitedHealth Group's public sector programs, discusses job trends and how economic developers can improve their communities' competitive advantage by improving the health of the workforce.
Chronic illnesses, including diabetes and high blood pressure, contribute to worker absenteeism, decreased productivity, and increased insurance costs to employers. Greater focus is being placed on preventive health care, including a closer look at children's health. Dr. Jay Berkelhamer, past president of the American Academy of Pediatrics, discusses trends in child health and their implications for workforce development.
A critical shortage in medical professionals, especially in rural and low-income areas, is a challenge facing medical colleges. Dr. Wayne J. Riley, president and CEO of Meharry Medical College, discusses the future of medical training and its implications for economic development.
Hospitals and their satellite operations are facing human capital frictions as the public demands the latest treatments in the most upgraded facilities and as they prepare to respond to new legislation. Dr. Stephen Newman, chief operating officer with Tenet Healthcare Corp., discusses these workforce challenges and opportunities.
Minority-owned small businesses make significant contributions to the U.S. economy, but there are still distinct disparities in business performance between minority-owned firms and nonminority-owned firms. Dr. Robert Fairlie, professor of applied economics and finance at the University of California Santa Cruz, discusses how minority-owned small businesses have fared in difficult economic conditions and policy options to address these challenges.
For some low-skilled workers, self-employment appears to be the best opportunity to improve their earnings, but is it? Dr. Magnus Lofstrom, research fellow with the Public Policy Institute of California, discusses whether self-employment improves the earning power of low-skilled workers as well as economic development policies that local and state governments could consider to help this vulnerable population.
Small businesses are recognized as job creation engines as well as contributors to the economic vibrancy of the neighborhoods where they are located. Dr. Lisa Servon, former dean of Milano the New School for Management and Urban Policy, discusses the effects of the economic downturn on small businesses and local communities and approaches to promoting economic development in a time of major financial constraints and challenges.
Technical and vocational schools are well positioned to provide practical training that meets the needs of local employers. James King, vice chancellor for the Tennessee Technology Centers, discusses how these schools can partner with employers and position their graduates to thrive in today's emerging job sectors.
Older cities once focused on manufacturing have faced declining fortunes for some time. Even with the economic recession adding new pressures to economic development strategies, some of these cities have managed to reinvent themselves into vibrant job centers. Dr. Yolanda Kodrzycki of the New England Policy Center at the Federal Reserve Bank of Boston discusses the lessons these resurgent cities have for other communities.
The conference provided a multidisciplinary approach to understanding the relationship between small business and entrepreneurship and economic recovery. The Kauffman Foundation and Atlanta and Dallas Feds cohosted the event.
Current economic conditions have inspired practitioners and policymakers to think more deliberately about the overlap between economic and community development. The combination of fewer local businesses, fewer jobs for residents, and increased foreclosure rates has hastened holistic, neighborhood-based approaches. Tony Cipollone, vice president for the Civic Sites and Initiatives of the Annie E. Casey Foundation, discusses how neighborhood-based economic and community development projects are working to create more vital and vibrant neighborhoods.
Community, technical, and vocational colleges play an important role in preparing the workforce for the immediate labor demands of local employers and promoting full employment in their service regions. However, current economic conditions have challenged traditional models, prompting revised and sometimes new approaches. Dr. Rolando Montoya, provost at Miami Dade College, the nation's largest nonprofit institution of higher learning, discusses how a community college can nimbly adjust its curriculum to respond to the fast-changing workforce needs of local businesses and strengthen local economic development.
Like many cities that have heavily depended on a few key industries, employment and workforce development have long been a challenge for New Orleans. But the economic and natural disasters of the past five years only exacerbated the situation. As New Orleans continues to rebound from Hurricane Katrina, job growth and a more resilient economy will depend on simultaneously leveraging historic industry assets while growing new ones. Dr. Allison Plyer, co-deputy director at the Greater New Orleans Community Data Center, discusses the vital role of New Orleans's export industries from her recent report, Jobs that Matter Most: Regional Export Industries in the New Orleans Area.
Creating quality jobs and rebuilding the middle class in a global, knowledge-driven economy requires new strategies, new partners, new goals, and new metrics of success. The role of economic developers has expanded to include everything from technology transfer to attracting retail that will expand a community's tax base. Putting this all together in an economic development strategy can be challenging. Dr. Shari Garmise, vice president for Knowledge Management and Development for the International Economic Development Council, discusses the findings and case studies compiled in the recent report "Creating Quality Jobs."
Creating a broad range of high-quality jobs in the urban core is a daunting economic development challenge, that is only exacerbated by the current economic climate. Using Atlanta as an example, Dr. Nancey Green Leigh, professor of City and Regional planning at the Georgia Institute of Technology, discusses a roadmap for protecting and energizing an industrial sector as a viable source of job growth and economic investment.
The overlap between economic development and philanthropy is growing. While we most often think of foundations as being involved in community development, they play increasingly more important roles in economic development. Douglas W. Nelson, retired president and CEO of the Annie E. Casey Foundation, talks about how foundations can support economic development as sources of flexible capital and data-driven policy advocacy.
The importance of financial institutions in economic development efforts has varied by region. As communities struggle with funding economic development efforts, some are re-engaging banks in new ways. Indeed, the financial crisis has re-framed the banking sector's models of economic development deals. Bill Best, senior vice president for Community Development at PNC Bank and chair for the International Economic Development Council, discusses the key role banks play in community and economic development efforts during a time of recovery.
Economic growth and the preservation of natural resources are increasingly interdependent. Chris Clark, commissioner of Georgia's Department of Natural Resources, discusses the very real and important connections among economic development, community development, and the sustainable use of natural resources, an interdependence that leads to productive industries and thriving communities.
Increasingly, communities are approaching economic development efforts within a sustainability context. Federal funding support has also shifted toward projects and programs that emphasize sustainability concepts. Edward Blakely, professor of Urban Policy at the University of Sydney, Australia, discusses how the economic crisis has transformed how we think about economic development finance and how communities can craft their economic destinies within the global economy.
The financial climate has limited the availability and effectiveness of traditional economic development tools. States and counties are challenged to identify innovative strategies to promote economic growth and employment. Reagan Farr, commissioner of the Tennessee Department of Revenue, discusses how Tennessee has adapted its incentive policies to attract investment and grow jobs in the midst of the nation's worst recession in decades.
Real-estate-owned (REO) properties are usually vacant and, particularly when geographically concentrated, can have destabilizing effects on neighborhoods and communities. The author studies intrametro REO distributions across different metro areas during the mortgage crisis.
What was the extent to which real-estate-owned (REO) properties accumulated in different housing markets during the mortgage crisis? The author examines characteristics of the inventory of REO properties in U.S. metro areas from 2006 to 2008.
Mortgage regulation and foreclosure laws are generally under federal and state governance, but local governments and organizations responded to rising foreclosures in various ways. The author presents a range of responses to the foreclosure crisis that local organizations have used.
As a financial consumer and a concerned citizen, you may be interested in how well your bank or savings and loan is helping meet the credit needs of your community, including low- and moderate-income areas. In fact, by law, the performance of every bank and thrift in meeting these needs is regularly evaluated and rated, and this rating is available to the public.