Can Community Wealth Building Redefine City Economic Development?
In this article written for the Rooflines blog, our Director of Special Projects Steve Dubb points out key examples of equitable and sustainable alternatives to the traditional forms of economic development found in a new report released by Good Jobs First. Dubb highlights the case studies presented in our report, Cities Building Community Wealth as essential new approaches to combat the detrimental effects of traditional development practices.
So, what does a community wealth building approach to city economic development look like and how does it work in practice? Truth be told: we don’t yet know fully. As the Good Jobs First report demonstrates, city economic development today remains largely mired in a mindset that if applied to the sports world, would be akin to putting 90 percent of your resources into free agency and only 10 percent into developing existing players. But hints of a new approach are emerging in cities across the United States.