Community Wealth Blog
Beloved for its charming landscapes and fresh lobster, the rural community of Deer Isle, Maine is now gaining attention in the cooperative world. When Verne and Sandra Seile, proprietors of Burnt Cove Market, V&S Variety and Pharmacy, and The Galley, decided to retire last year, they sold their businesses to their employees. With 62 new worker-owners, Island Employee Cooperative, Inc. (IEC) is now the twelfth largest worker cooperative in the nation.
Today, corporate profits are at an all-time high and employee wages are at their lowest ever as a percent of GDP. Worker cooperatives embody the hope that we can reverse the downward spiral in wage stagnation, wealth distribution, and concentration of ownership to build an economy that truly serves people and communities. But what will it really take to create a more cooperative economy?
The broad appeal of the ‘Cleveland Model’ and of community wealth building in general is becoming evident in a growing number of communities around the country, and—increasingly—overseas as well.
Worker cooperatives are an important part of the community wealth building toolbox, and our new report Worker Cooperatives, Pathways to Scale, authored by Hilary Abell, assesses the state of worker cooperative development in the United States and suggests key strategies and policies for scaling up its impact.
Since our last posting on Boulder’s municipalization efforts, the city has taken another big step forward and succeeded in creating its own power and light utility. Through the continued efforts of an informed, engaged, and environmentally conscious citizenry, Boulder is moving closer to its goal of significant emissions reductions through local control of its energy system.
So many anchors are now engaged in some sort of community and economic development locally. But how do they know if they are truly benefiting local residents? Having metrics and indicators to track the impact of their engagement is tremendously helpful in order to ensure that both the institution and the community are benefiting.
When community engagement strategies are marginalized and not viewed as integral to an organization’s core business, they are not sustainable. They are susceptible to budget cuts and changing leadership agendas. Quantifying the returns from community initiatives will help ensure that those initiatives are in place for the long-term.
While the words “co-op” and “civil rights” do not commonly appear in the same sentence, with more than 300 cooperative and social justice activists gathered in Jackson, Mississippi, last weekend, the question was hard to avoid.
Join us for a special book launch event on Tuesday, June 3rd to learn about the history of African American cooperative economics from a leading co-op scholar/activist, and hear local updates on ONE DC's Black Worker's Center and Impact Hub DC's worker cooperative incubator.
The Democracy Collaborative recently sat down with Alan Smith of the Roosevelt Institute Campus Network to talk about their new Rethinking Communities Initiative. Inspired by the legacy of Franklin and Eleanor Roosevelt, the Roosevelt Institute promotes the work of progressive economist and social policy thinkers and supports the next generation of leaders as they design solutions to current pressing issues.
Last week, the National Community Reinvestment Coalition (NCRC) hosted its annual conference in Washington, DC. Entitled “A Just Economy: Ideas, Action, Impact,” the conference brought together nearly 800 community-based practitioners and policymakers to discuss responsible community investment and share strategies to ensure equal access to credit, capital, housing, jobs, and banking services.