Richmond, Virginia

The 32nd in our continuing series of Community Wealth Cities is Richmond, Virginia. Richmond has a complex history; once the capital of the Confederacy, it was also the first city to host a bank chartered by African- Americans. Its unique legacy as a site of both racial tension and progress creates interesting challenges and opportunities for community wealth building. Last fall, Richmond gained national attention for Mayor Dwight Jones’ anti-poverty plan, which calls for broad expansion of community wealth building and social enterprise activity.

Wisconsin Women’s Business Initiative Corporation

Since its founding in 1987, the Wisconsin Women's Business Initiative Corporation (WWBIC) has loaned more than $34 million to 3,500 business owners and has helped to create and retain 8,000 jobs. WWBIC supports entrepreneurship and home ownership amongst women, people of color, and low income communities through a range of services, including  business and financial education courses as well as individual development accounts. It has grown to become Wisconsin’s largest microlender.  Read more about Wisconsin Women’s Business Initiative Corporation...

Housing Assistance Council, Community Land Trusts and Rural Housing, Washington, DC: The Housing Assistance Council, April 1993, 1-26.

Published in 1993, this study, although somewhat dated, provides a very useful overview of the community land trust model as well as containing four case studies.

Associated Grant Makers: Community Foundation Roundtable

January 14th, 2015
Greater Worcester Community Foundation, 370 Main Street, #650, Worcester, MA 01608

Senior Fellow Marjorie Kelly will be speaking at the Greater Worcester Community Foundation presenting: A New Anchor Mission for a New Century, Community foundations deploying all resources to build community wealth as part of the Associated Grant Makers' Community Foundation Roundtable series. Read more about Associated Grant Makers: Community Foundation Roundtable...

December 2014

*NEW* Richard Rothstein, "The Making of Ferguson: Public Policies at the Root of its Troubles," Washington, DC: Economic Policy Institute, October 15, 2014, 1-41.

This paper from the Economic Policy Institute encourages a critical examination of the role of structural racism, as embedded in policy, that has fostered extreme inequality in the St. Louis metropolitan area—made apparent after the shooting of Michael Brown. Author Richard Rothstein, Research Associate at the Economic Policy Institute and senior fellow of the Chief Justice Earl Warren Institute on Law and Social Policy at the University of California, Berkeley, School of Law, finds that the institutionalization of racially prejudiced real estate, banking, insurance, and land use policies at the federal, state, and local level, fostered and continue to promulgate racially segregated neighborhoods with high poverty, unemployment, and oppressive policing.

*NEW* Eli Moore, Nadia Barhoum and Alexis Alvarez Franco, Anchor Richmond: Community Opportunities & Anchor Strategies for the Berkeley Global Campus at Richmond Bay, Berkeley, CA: Haas Institute for a Fair and Inclusive Society , November 2014, 1-50.

This new report from the Haas Institute for a Fair and Inclusive Society identifies opportunities for community wealth building in Richmond, California. The authors claim that with the development of the Berkeley Global Campus, which is poised to become the largest employer in Richmond and the largest public investment in Richmond since World War II, UC Berkeley and the associated Lawrence Berkeley National Laboratory have a unique opportunity to reduce racial inequality and promote broad prosperity in Richmond. The Haas report provides several recommendations that these anchor institutions can adopt, including the creation of a working group to develop and monitor strategies for community wealth building and the creation of a fund to launch minority-owned businesses.

*NEW* Richard Rothstein, "The Making of Ferguson: Public Policies at the Root of its Troubles," Washington, DC: Economic Policy Institute, October 15, 2014, 1-41.

This paper from the Economic Policy Institute encourages a critical examination of the role of structural racism, as embedded in policy, that has fostered extreme inequality in the St. Louis metropolitan area—made apparent after the shooting of Michael Brown. Author Richard Rothstein, Research Associate at the Economic Policy Institute and senior fellow of the Chief Justice Earl Warren Institute on Law and Social Policy at the University of California, Berkeley, School of Law, finds that the institutionalization of racially prejudiced real estate, banking, insurance, and land use policies at the federal, state, and local level, fostered and continue to promulgate racially segregated neighborhoods with high poverty, unemployment, and oppressive policing.

*NEW* Eli Moore, Nadia Barhoum and Alexis Alvarez Franco, Anchor Richmond: Community Opportunities & Anchor Strategies for the Berkeley Global Campus at Richmond Bay, Berkeley, CA: Haas Institute for a Fair and Inclusive Society , November 2014, 1-50.

This new report from the Haas Institute for a Fair and Inclusive Society identifies opportunities for community wealth building in Richmond, California. The authors claim that with the development of the Berkeley Global Campus, which is poised to become the largest employer in Richmond and the largest public investment in Richmond since World War II, UC Berkeley and the associated Lawrence Berkeley National Laboratory have a unique opportunity to reduce racial inequality and promote broad prosperity in Richmond. The Haas report provides several recommendations that these anchor institutions can adopt, including the creation of a working group to develop and monitor strategies for community wealth building and the creation of a fund to launch minority-owned businesses.

2015 Association of Cooperative Educators Institute

July 12th, 2015 to July 15th, 2015
Amherst, Massachusetts

The ACE Institute is an annual conference held by the Association of Cooperative Educators, a North American
wide organization of cooperative researchers, educators, practitioners and developers with members
predominately from the United States, Canada, and the Caribbean. The three-day event highlights innovations in
cooperative education and development through lectures, workshops, roundtable discussions, and mobile learning
sessions. Read more about 2015 Association of Cooperative Educators Institute...

Featured publication

  • A New Anchor Mission for a New Century: Community foundations deploying all resources to build community wealth

    October 30th, 2014 -- john
    Marjorie Kelly and Violeta Duncan

    It was in 2005 that the highly regarded Monitor Institute report declared that the field of community foundations was “On the Brink of New Promise,” and in the decade since, there have been countless working groups and initiatives to introduce innovative approaches to the field. At the same time, largely beneath the radar, a small but growing group has begun pursuing the innovative path we explore here. Mostly in small steps—but sometimes in larger ways—they are adopting elements of what could emerge as a new anchor mission to deploy all resources to build community wealth.

Featured media

What is Community Wealth?

How do you build community wealth? Here's some of the basic principles of a successful approach:

Community Wealth Cities

Milwaukee, Wisconsin

Located on the southwestern shore of Lake Michigan, Milwaukee was incorporated in 1846. German immigrants, who came to Wisconsin in search of inexpensive farmland, fueled the city’s early growth. Over the following decades, Milwaukee attracted large groups of other immigrants, including Poles, Lithuanians, Italian, Irish, French, Russian, Bohemian, and Swedish. By 1910, Milwaukee ranked first in the nation, alongside New York City, for having the largest percentage of foreign-born residents. Read more about Milwaukee, Wisconsin...

Community Wealth Interviews

José Corona

José Corona is Chief Executive Officer of Inner City Advisors (ICA), a position he has held since 2004. ICA is a nonprofit technical assistance group that helps build sustainable and responsible businesses that create quality jobs, reinvest in the community, and contribute to building a strong and vibrant local economy. Since its founding, ICA has helped to create and retain over 7,000 jobs in the Bay Area, creating or retaining 2,717 jobs in 2013 alone that pay an average hourly wage of $14.50 and generate over $68 million in total wealth for the local community.

Spotlight

Featured from the toolbox

  • Community Capital

    In this new guide to community investment, the Business Alliance for Local Living Economies (BALLE) identifies finance options and other investment tools to reinvigorate regional economies, create high-quality jobs, and restore the environment. BALLE offers this guide as a resource to help re-shape financial capital flows to support local self-sufficiency and ingenuity.

    Read more...
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