Communities across the country are recognizing the tremendous resources nonprofit anchor institutions—such as hospitals and universities—can provide as engines of inclusive and equitable economic development. Increasingly, cities—often led by Mayors—are launching comprehensive strategies to leverage these institutions to address challenging problems of unemployment, poverty, and disinvestment. In 2014, several cities, including Chicago, Baltimore and New Orleans, have launched community building and job creation strategies that revolve around anchor institutions; and in Cleveland, a decade old collaboration of philanthropy, anchor institutions, and the municipal government continues to rebuild economies in some of the poorest neighborhoods in the city.
Opportunity Threads is a worker cooperative cut and sew factory in Morganton, North Carolina. Started in late 2008, it’s an inspiring example of how democratic ownership in manufacturing can create jobs, empower workers, and even rebuild the value chains that sustain a community economically. To find out more about their story, we talked with Molly Hemstreet, the organizer, developer, and now worker-owner who got the ball rolling.
Originally published by NewStart
At the Democracy Collaborative, we’re interested in finding ways to build community wealth at scale — that is, in finding ways to anchor capital, democratise ownership, and stabilise local economies to really make a difference in the lives of low-income communities that find themselves marginalised by the current paradigm of economic development. Read more about Local policies for building community wealth...
We are pleased to announce that we are looking for candidates for our Junior Fellowship position that focuses on the Community-Wealth.org newsletter, maintaining web content, and assisting with research. For further details, please see the position description below. Deadline for applications extended to October 9th!
Communities across the country are recognizing the tremendous resources nonprofit anchor institutions (like hospitals and universities) can provide as engines of inclusive and equitable economic development. Read more about Models for mobilizing multiple anchor institutions...
Last week, the Nevada legislature approved $1.25 billion in tax breaks for Tesla Motors to establish a lithium battery "Gigafatory” for electric cars. Read more about Clandestine Corporate Subsidies Undermine Community Participation in Local Economic Development...
Although an important figure in both U.S. and African-American history, Maggie Lena Walker is not a household name—not the way, at least, that her contemporaries such as Brooker T. Washington, Zora Neale Hurston, or WEB Dubois are.
Yet Walker was the first woman (of any race) in the nation to charter a bank, which she did when she opened the St. Luke’s Penny Savings Bank in Richmond, Va., in 1903.