Community Wealth Blog
This year, community foundations turned 100. But while the hundreds of placed-based philanthropic institutions in cities and towns across the country have much to celebrate, they also have much to worry about.
What do Austin, New York City and Denver have in common? All three cities voted to support the development of cooperatives for the first time this year. The amounts are modest, but the trend is clear—mayors and economic development leaders are beginning to add cooperatives and community wealth building to the economic development toolbox.
Our infographic on the impacts and benefits of community development financial institutions.
Drawn from our new report, A New Anchor Mission for A New Century: Community foundations deploying all resources to build community wealth.
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.
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.
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.
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. Increasingly, cities – including Mayors – are launching comprehensive and coordinated strategies to leverage their local anchors to address otherwise potentially intractable problems of unemployment and disinvestment.
Last week, the Nevada legislature approved $1.25 billion in tax breaks for Tesla Motors to establish a lithium battery "Gigafatory” for electric cars. Optimists like Nevada Governor Brian Sandoval believe that the facility will create 22,000 new jobs, while others, including urban theorist Richard Florida, caution that such expectations are idealistic at best, contending that the factory will create not more than 10,000 jobs.
Our infographic explains how the Cleveland Model functions and how it includes the entire community to keep wealth local.