Inclusive Growth Communities: New Strategies for Prosperity

Giving Compass’ Take:

• Juan Olivarez examines how inclusive growth communities address economic stagnation through coalitions between the public, private, and nonprofit sectors.

• As a funder, how can you coordinate with other sectors to create opportunities in your community?

• Read more about philanthropy fueling economic development.

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Evidence suggests that fully half of American workers have experienced little to no income growth in decades (Frank & Chin, 2017). Dragged down by debt and growing inequity, many Americans are cut off from opportunity and from the traditional markers of the American dream.

Inclusive growth is a strategy which means that more people share in the rewards of a growing economy and community. Inclusive growth communities are those that invest — through philanthropy, public policy, financial decisions, and community commitments — in the success of efforts like:

• workforce training and talent development;
• entrepreneurship and small business success;
• personal financial security and access to financial resources;
• neighborhood development and growth;
• transportation and access; and
• reducing gaps in health, education, safety, and housing.

Evidence suggests that collaborations across the public, private, and nonprofit sectors are the critical factor in tackling this complexity and creating community success. Building coalitions that utilize a more diverse set of firms, workers, and communities to reach their productive potential offers a compelling opportunity for growth.

Read the full article about inclusive growth communities by Juan Olivarez at the Johnson Center.