Economic mobility is especially challenging for those who live in low- and moderate-income households. What’s more, the financial outcomes of individuals and families affect the financial health of our nation as a whole. What innovative approaches are being undertaken to address financial capability? What key policies and programs are helping individuals build wealth? And what promising workforce development strategies are helping our country prepare for the jobs of tomorrow? The Fed has resources on a range of people-based strategies.
Place matters. We know this from research as well as from experience. The Fed works with an array of partners—from nonprofits, bankers and academics to practitioners and policymakers—to help strengthen and revitalize communities through housing and other place-based strategies. What are some promising cross-sector approaches to address foreclosure mitigation activities? And how can evidence-based models inform innovative solutions to neighborhood redevelopment, particularly for underserved communities? The Fed has resources on a range of place-based strategies.
Thriving communities rarely develop by accident. The Fed supports community and economic development in a variety of ways, including providing technical assistance, convening events and conducting applied research, all aimed at developing the scale, sustainability and impact of the broader community development field. How are emerging research and data analysis being utilized to improve the design and implementation of community development programs and the sourcing of new partners and capital? What are the key ingredients of successful cross-sector collaboration? And how can Community Reinvestment Act (CRA)-eligible activities be further leveraged for greater impact? The Fed has resources on a range of strategies that support the policy and practice of community development.
Small businesses form the backbone of our nation’s economy and are at the heart of thriving communities. The Fed helps low- and moderate-income individuals and communities launch, grow and sustain small businesses, from microenterprises to small but growing organizations that have the capacity to create jobs for local residents. What are the emerging trends for increasing the capacity of small-business intermediaries? How can we ensure that small businesses and entrepreneurs have access to the credit and capital they need in a safe and sound way? And what are some of the key programs and policies that support minority- and women-owned small businesses?
What ignites the innovative spark that leads to a promising community development practice? SHIFT INNOVATION, a conference hosted by the Federal Reserve Bank of Kansas City on Sept. 22-23, 2014, provides an opportunity to interactively share and explore how thinking creatively about community development can unlock new and innovative solutions that can be implemented immediately.
This podcast asks community members and organizations across the U.S. about the challenges they are facing and solutions they’ve found for significant social issues like economic mobility, affordable housing, small business development and community reinvestment. Each episode showcases programs that help provide access to opportunity for low- and moderate-income individuals and families. The latest episode, "Access to Local Food Systems as a Rural Economic Driver," features an organization that bolsters regional agricultural enterprises to create jobs in rural areas. All episodes are available at accesspodcast.org or on iTunes, Stitcher and TuneIn.
This new publication focuses on regional food systems as a means for enhancing economic opportunity. It explores new insights into the potential for regional food systems to promote economic growth for both rural and urban communities through the creation of new or the enhancement of existing jobs and businesses. It also highlights how appropriately targeted policies and support can harness regional food system investments to advance the economic and financial security of LMI households and communities.
The Richmond Fed's Community Development office presented a five-person panel breakout session at the 30th Annual Emerging Issues Forum in Raleigh, North Carolina. Panelists explored innovations for Community Development Corporations, rural communities and funding initiatives.
Milan Wall, co-director of the Heartland Center for Leadership Development in Lincoln, Neb., shares the struggles of many small towns and rural communities in this 8 from the Eighth podcast. Small towns are challenged to find ways to retain jobs, as well as to keep their best and brightest residents from moving away to nearby cities. Although their future may seem bleak, many of these communities have managed to overcome the “six myths about the future of small towns”—a list formulated by the Heartland Center.
A model for rural community-based philanthropy and community building has emerged from the work of Community Foundation of the Ozarks. The foundation is leveraging resources, providing training to strengthen the nonprofit sector and increasing the capacity of citizens to lead. This Exploring Innovation in Community Development audioconference provided information about mission-related investing (MRI) in a rural environment; rural schools as a linchpin issue in rural economic development; and the empowerment of youth to positively impact their community.
Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics and government officials that work in the Eighth Federal Reserve District. Feature articles in the Spring 2015 issue include: Community Counts: Activating All Families To Save for Higher Education; Preparing and Promoting Communities through Economic Analysis; Designing Opportunity: Ending Generational Poverty and Re-establishing Economic Stability in Rural America; Building Creative Communities; and more.
This Connecting Communities® webinar focuses on recently released data and tools that can help community organizations and their partners better understand the current landscape of affordable rural rental housing. Presenters include Elizabeth Nash, PolicyMap; Bryan Hooper, USDA Rural Housing Service; and Rick Goodemann, Southwest Minnesota Housing Partnership.
Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics and government officials that work in the Eighth Federal Reserve District. Feature articles in the Spring 2014 issue include: Local Innovation, National Impact: Engaging Municipal Government in Financial Empowerment; Enrollment, Student Debt and LMI Communities; We’ve Met the Solution, and It Is Us; West Tennessee Day Trippin’: Rural Tourism Campaign Builds Regional Partnerships for Community and Economic Development; From the Ozarks to the Delta: A Historical Perspective of Regional Poverty in Arkansas; and more.
This Kansas City Fed webinar explores how entrepreneurship-based economic development strategies can help build healthy economies and a strong economic future.
The report from the Kansas City Fed focuses on broadband access, economic impact and success stories for communities wishing to narrow the digital divide. The digital divide refers to the gap between those with and without access to affordable, reliable broadband and the skills and equipment to utilize it.
This article from the Cleveland Fed's policy journal, Forefront, highlights the shale gas industry, which brings both costs and benefits to the communities it pervades. But community leaders must give careful thought to, and lay plans for, when the industry leaves town.
This Connecting Communities audioconference explores the necessary components of an entrepreneurship-based economic development model, explains the underpinnings of this community development approach and offers several examples of what successful entrepreneurial initiatives look like across rural America. Speakers included Dell Gines, Senior Community Development Advisor, Federal Reserve Bank of Kansas City; and Don Macke, Co-Director, Center for Rural Entrepreneurship.
In the summer 2016 issue of the Boston Fed's Communities & Banking magazine, the feature story reveals how shorter life expectancy of poorer people means that federal benefits for the elderly disproportionately help the well-off. Other articles look at expulsion of children from early education settings, using mobile technology to boost children’s savings accounts, innovative high school internships, Connecticut programs that help youth and older workers pursue higher education and better jobs, and more.
This Connecting Communities® webinar, featured on January 11, 2018, highlights how financial institutions could receive Community Reinvestment Act consideration for taking advantage of new opportunities to help close the digital divide across communities and improve economic stability. Presenters include Jordana Barton, Federal Reserve Bank of Dallas; Jeanne Bonds, Federal Reserve Bank of Richmond; Chelsea Cruz and Adrian Franco, Federal Reserve Bank of New York; and Yolanda Davila, BBVA Compass.
One outcome of the recent recession is that rural poverty rates are the highest since the mid-1980s. Mil Duncan, founding director of the University of New Hampshire's Carsey Institute, discusses the issues facing the rural poor in this Economic Development podcast from August 2014.
During this Exploring Innovation in Community Development audioconference, presenters explain how rural communities across the country are using tourism to create economic opportunities and diversify their resources.
The following video presents information on the Small Bank and Intermediate Small Bank CRA Examination. The Community Reinvestment Act encourages depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods, consistent with safe and sound operations.
At the South Carolina Association for Community Economic Development (SCACED) Capacity Building Workshop in Walterboro, South Carolina, community partners came together to look at how small, rural municipalities can develop their communities and improve their economies.
A conversation with Dave Glaser, president of Montana & Idaho Community Development Corporation, on how his organization is adopting more effective ways to pursue business and housing development. From Community Dividend, a publication of the Minneapolis Fed.
The Kansas City Fed publishes this guide which is useful to both urban and rural economic developers. The grow your own strategy focuses resources on existing community strengths, small businesses and developing job-creating entrepreneurs. A resource guide of programs and practicing communities from across the U.S. is also included.
In this issue of Community Practice Papers, we take a look at examples of sustained and emerging business models from rural and urban Community Development Corporations across North and South Carolina.
The second issue of Community Scope 2016 examines the patterns in geographic service provision by respondent CDFIs in urban, rural, low- and moderate-income (LMI), underserved and distressed markets and areas.
Creative placemaking—a strategy for public and private partners to work together to shape the physical and social character of a neighborhood, town, city or region through the arts and cultural activities—can be an effective component of economic development programs, attracting investments, residents and visitors; supporting local businesses; providing jobs; and generating revenue for local government. During this Exploring Innovation in Community Development audioconference, national experts on creative placemaking and representatives from urban and rural nonprofits discussed how they are using this strategy to revitalize and transform their communities.
This issue of the Dallas Fed's Banking & Community Perspectives looks at challenges facing the affordable housing field in Texas, spotlighting underlying trends and new approaches to increasing availability.
Don't miss this Connecting Communities® webinar, from Nov. 3, 2016, which focused on the emerging field of entrepreneurship-based economic development. Experts provided information from communities that have effectively used entrepreneurship to generate local economic growth. Speakers included Dell Gines, Senior Community Development Advisor, Federal Reserve Bank of Kansas City; Deborah Markley, Co-Founder and Managing Director, Center for Rural Entrepreneurship; Maria Meyers, Executive Director, KCSourceLink; and Erik Pedersen, Vice President of Entrepreneurship, NetWork Kansas.
Couldn't make it to Pittsburgh for the 2015 Policy Summit? Check out the preview, videos & speaker presentations from the June 18 and 19, 2015 event, including a conversation with mayors, two plenaries, a session powered by PechaKucha, and the closing address by Cleveland Fed President and CEO Loretta J. Mester. The 2015 Policy Summit, sponsored by the Federal Reserve Banks of Cleveland, Philadelphia, and Richmond, featured experts from across the US presenting the latest research and field initiatives on topics related to equitable development.
Much of the eastern half of the United States includes Appalachian communities, many of which are rural and therefore harder to reach and promote development in. Co-sponsored by the Federal Reserve Banks of Atlanata, Cleveland, and Richmond, this program focused on capital resources and partnerships in lending in Appalachia. The program highlighted how banks, credit unions, Community Development Financial Institutions (CDFIs), foundations, and community practitioners are aligning their resources to support business growth in Appalachia. Presentations available.
A collaborative effort among government agencies and nonprofit organizations in Minnesota aims to keep the “affordable” in rural affordable housing. From the October 2015 issue of Community Dividend, a publication of the Minneapolis Fed.
Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics and government officials that work in the Eighth Federal Reserve District. Feature articles in the Summer 2016 issue include: All Low- and Moderate-Income Areas Are Not Created Equal; Moving First-Time Buyers Off the Fence: Solving the Millennial Homebuyer Puzzle with Proven Online Solutions and Partnerships; Innovative Partnership Brings Hope to Small Towns; Entrepreneurship and Economic Development Fueled by Students and Faculty; Impacting Homelessness in Missouri; and more.
This paper from the San Francisco Fed explores age-friendly banking products and services that better protect and preserve the assets of an aging population. In order to examine the unique financial needs and increase the financial well-being of low-income older adults, the California Coalition for Rural Housing (CCRH) partnered with the National Community Reinvestment Coalition (NCRC) to conduct an intensive study of over 400 low-income tenants living in subsidized senior housing. CCRH and NCRC propose a number of recommendations that financial institutions can incorporate into the development of effective Age-Friendly Banking initiatives.
What are the current trends in female entrepreneurship? Alicia Robb, senior research fellow at the Ewing Marion Kauffman Foundation, discusses recent data on women-owned firms and the challenges and opportunities in expanding this sector in the Atlanta Fed's January 2013 Economic Development podcast.
The 2013 Federal Reserve System Community Development Research Conference presented a unique forum for discussing key research, program, and policy strategies aimed at improving resiliency and rebuilding in low-income households and neighborhoods. The post-event materials include papers, presentations and videos; keynote remarks, speaker biographies and poster presentations,
In this speech, Fed Chairman Ben S. Bernanke Chairman Bernanke discusses the evolution of community development, accelerating transformative development in communities, and the importance of developing local leaders. The speech was given.at the Federal Reserve System Community Affairs Research Conference, "Resilience and Rebuilding for Low-Income Communities: Research to Inform Policy and Practice," held in Washington, D.C. on April 12, 2013.
Today, grants are not the only way for a foundation to positively impact a recipient organization. During this Exploring Innovation in Community Development audioconference, presenters address the impact and benefits of social investing, mission-related investments (MRIs) and program-related investments (PRIs) to both recipients and foundations.
This research from the Minneapolis Fed suggests that educators should take a broad perspective on where and how personal finance is taught and learned and make use of findings from psychology and behavioral economics to enhance youth personal financial instruction.
A compilation of essays published by the San Francisco Fed and the Low Income Investment Fund highlights entrepreneurial solutions for addressing poverty. Authors include leading experts from across the U.S. in community and economic development, academia, government policy, health, and philanthropy.
Biennially, the San Francisco Fed partners with the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the U.S. Department of the Treasury’s Community Development Financial Institutions Fund to host the National Interagency Community Reinvestment Conference. In 2012, the conference was held in Seattle, WA. Agendas, interviews and videos are available on the San Franscisco Fed's website.
This quarterly publication from the Boston Fed is geared for lenders and community development practitioners and focuses on the economic concerns of low- and moderate-income constituencies and those who serve them. The feature article in this issue is on the topic of universal preschool.
This issue of the Philadelphia Fed's Cascade spotlights the Community Development Financial Institution (CDFI) industry and the products and programs implemented by CDFIs and their funding sources. Also featured is Mark Pinsky, Opportunity Finance Network president and CEO, who provides perspective on the CDFI recertification process.
How can the workforce development system better respond to people with disabilities? Kathy Krepcio, of Rutgers' Heldrich Center for Workforce Development, and Michael Morris, of National Disability Institute, discuss innovative programs and policies designed to ensure this sector is poised to meet employers' labor needs in this May 2013 Economic Development podcast.
There is value for both the employee and employer in enhancing the skill sets of lower-wage workers. In this April 2013 Economic Development podcast, Mark Popovich of the Hitachi Foundation and Jenny Benz of the Associated Press-NORC Center for Public Affairs Research discuss findings of a recent study on this topic and implications for policy and practice.
Disinvested areas of cities must often combine community and economic development efforts to achieve the goals of both. In this June 2013 Economic Development podcast, Rick Sauer and Lynn Martin Haskin of the Philadelphia Association of Community Development Corporations discuss how local institutions can support economic development at the neighborhood level.
Key findings of this report were shared in a policy roundtable with members of the Federal Reserve Board of Governors, including Chairman Ben Bernanke. The focus of the policy roundtable was to inform the Governors of factors associated with long-term unemployment, particularly in LMI communities, and to identify promising workforce development strategies.
The Spring 2013 issue highlights research on the impact of the Great Recession on low- and moderate-income communities. Also included are FAQs about the Fed's role in community and economic development, an interview with NeighborWorks America's Midwest director, CRA 101 tips for nonprofit organizations to work more effectively with financial institutions, and an overview of workforce development initiatives.
To learn more about the decreased labor force participation rate and skills mismatch of young people, particularly in post-industrial cities and their surrounding regions, the Philadelphia and Cleveland Feds held five listening sessions across Pennsylvania in 2013. In this report we distill and document what we heard, including local strategies to better align education and employment initiatives in order to improve job opportunities for this demographic, along with ways to increase engagement and collaboration among a broad group of stakeholders.
Ohio’s workforce development system is complex and fragmented. Despite still-high unemployment, for example, employers complain of not being able to find workers to fill open positions. In 2013 the Cleveland Fed talked with individuals across the state about the biggest challenges facing employers, educators, and job seekers alike. We also learned of some integrative approaches that appear to be working. Read about our findings in this special report.
Through its Center for Indian Country Development, the Minneapolis Fed works to help self-governing communities of American Indians in the United States attain their economic development goals. The Center promotes partnerships, research, and coordination around four focus areas that are essential for building vibrant economies: governance, infrastructure, finance, and resources.
This issue of the San Franscisco Fed's Community Investments examines the challenges facing the affordable housing industry, new public-private funding partnership models, cross-sector efforts with health care and transportation practitioners, and services-enriched affordable housing that is helping the most vulnerable members of our communities to lead fuller lives in a more stable environment.
Today, many nonprofit organizations are adopting a holistic view of their clients’ needs, providing comprehensive case management or a coordination of services that assists low- and moderate-income families in achieving self-sufficiency and lifelong financial well-being. Hear from organizations that are implementing the case-management model as an effective asset-building tool during this Exploring Innovation in Community Development audioconference.
This resource produced by the Philadelphia Fed includes affordable housing and consumer credit statistics and trends for low- and moderate-income communities in the Third Federal Reserve District and in the U.S. overall. Information is available for rental housing, mortgage lending, and consumer credit, and Community Profiles are available for metropolitan areas in the District.
This event in Providence, Rhode Island, brought lenders and borrowers together to talk about the future of community development lending in the state in the era of sequestration. Sponsored by the Federal Reserve Bank of Boston in partnership with the Federal Home Loan Bank of Boston, Olneyville Housing Corporation and Rhode Island LISC. Presentations available.
The Cleveland Fed partnered with Greater Ohio Policy Center to host a series of webinars, which showcased specific strategies local and regional government officials and community development organizations can use to help stabilize and restore Ohio neighborhoods.
The Federal Reserve Bank of Philadelphia’s Community Outlook Survey monitors the economic factors affecting low- and moderate-income (LMI) households in the Third Federal Reserve District. A report summarizing the most recent survey as well as an archive of prior surveys are available on our website.
The Federal Reserve Bank of Richmond and its partners convened a full-day conference in September 2013 to examine housing and homelessness issues in Virginia from a research and economic development perspective. See presentations from experts who are making the connection between homelessness and other key pillars of community stabilization.
This issue of Community Scope (2013, Volume 3, Issue 1) explores the re-employment experience of displaced Pillowtex textile workers in North Carolina following the largest permanent mass layoff in the state’s history. The study focuses on the assistance strategies and reemployment outcomes in the counties with the largest concentration of displaced workers and highlights the challenges and opportunities involved in the process.
A one-hour program on start up issues for community development financial institutions (CDFIs) featuring information on what you should know if you are considering applying for CDFI certification; where CDFIs can look for resources when capitalizing their funds; and advice from experienced CDFI leaders on what they found most important in their early years of operation. Presenters range from the United States Department of Treasury’s CDFI Fund to experienced CDFI leaders who will reflect on their early stages of growth.
Helping people who have criminal records find sustained, gainful employment could help produce savings and benefits for both the ex-offenders and society at large. From the October 2013 issue of Community Dividend, a publication of the Minneapolis Fed.
Visit this resource to find information on Healthy Communities -- the intersection of community development and health -- including publications, presentations, podcasts, videos and web resources.
The Dallas Fed posts interviews of leading practitioners as well as events, speeches and reports on current trends and successful practices in the small business and entrepreneurship sector.
This Dallas event highlights entrepreneurial approaches to community development and explores the expanding subject of social impact investing. The conference was inspired by the book, Investing in What Works for America's Communities, and was hosted by the Dallas Fed's Community Development department, Citi, Social Impact Architects and Social Venture Partners Dallas.
During this Exploring Innovation in Community Development audioconference, presenters help to disassemble the complexities of creating an entrepreneurial community to show how any city or region can help to generate more entrepreneurs and small businesses. Participants learn about such topics as: leadership needed to cultivate entrepreneurship, entrepreneurial development strategies, creating a long-term, sustainable ecosystem of entrepreneurs and characteristics of strong entrepreneurial communities.
During this Exploring Innovation in Community Development audioconference, participants heard from organizations that are implementing innovative strategies to promote and foster entrepreneurial advancement for small and microbusinesses. Speakers included: Gar Kelley, Association for Enterprise Opportunity, and Galen Gondolfi, Justine PETERSEN.
Presenters at this Exploring Innovation in Community Development audioconference explained the fundamental purpose of the CRA and why it’s still relevant today, how implementation of the Act has evolved over the years, and strategic ways to help organizations understand and embrace a CRA-minded culture that often yields credit during bank examinations. Speakers included Theresa Stark, Federal Reserve Board of Governors; Meredith Anderson, Federal Reserve Bank of St. Louis; and Tom Reeves, Pulaski Bank.
This Exploring Innovation in Community Development audioconference examines crowdfunding (also called crowdsourcing or project-based funding), meaning nonprofit, community-based and not regulated by the SEC. Learn what crowdfunding is, why local money ownership and management are important, how it works and the current state of the field. Hear how crowdfunding contributes to local well-being and how a community or neighborhood may begin a crowdfunding initiative.
Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics and government officials. Feature articles in the Fall 2013 issue include: Increasing Density: A Small-Town Approach to New Urbanism; Women Helping Women: Healing Hearts Bank at Redevelopment Opportunities for Women; The Graying of America: Preparing for What Comes Next and more.
Are Native contractors missing out on business opportunities because they can't obtain a specific form of insurance? This Community Development Paper from the Minneapolis Fed explores whether construction companies in Indian Country have access to surety bonds, insurance instruments that guarantee fulfillment of construction contracts.
A web page from the Minneapolis Fed for individuals and organizations that want to connect with and learn more about community development financial institutions, or CDFIs. Featuring CDFI-related news, a timeline illustrating the history of the CDFI industry, an archive of relevant articles and reports, and more.
These data briefs from the Community Development team at the Cleveland Fed examine the educational attainment levels, employment status, and occupations of workers in four MSAs in Ohio, Pennsylvania, and Kentucky, with a primary focus on those aged 18 to 35 with no post-secondary degree.
Regional collaboration can be an effective approach in responding to labor demands of local employers. In this July 2013 Economic Development podcast, Laura Chandler of the Southwest Alabama Workforce Development Council and Sam Covert of the Mobile Area Educational Foundation discuss how robust coordination among local workforce development players leads to more successful management of industry partnerships.
Some economic development efforts have expanded beyond traditional strategies to address a more comprehensive set of issues, including neighborhood revitalization. In this August 2013 Economic Development podcast, Shirley Franklin, CEO of Purpose Built Communities and former Atlanta mayor, discusses an approach that encompasses many stakeholders and yields beneficial community results.
Large-scale economic development strategies can help facilitate job opportunities for low-income and minority populations. In this September 2013 Economic Development podcast, Victor Rubin and Sarah Treuhaft at PolicyLink discuss their proposal that infuses economic inclusion into these strategies as part of the "Big Ideas for Job Creation" project.
This December 2013 symposium, co-sponsored by the Federal Reserve Bank of Atlanta and the U.S. Department of Agriculture's Economic Research Service, focused on discussion of key research, program, and policy strategies addressing rural poverty. Post-event materials include session presentations and speakers’ biographies.
The Dallas Fed provides this roadmap of best practices in community development and a healthy communities framework that highlights investments valuable to financial institutions and their target communities. Also included is a list of CRA reference guides and a useful template for a Bank's performance context.
Attracting and retaining workers is vital to the success of employers and communities. Carl Van Horn of Rutgers University's Heldrich Center for Workforce Development discusses the center's research on U.S. workers' perspectives on employment conditions and the future of the workplace in the October 2013 Economic Development podcast.
Microenterprise development initiatives can help to create and grow businesses and, in many cases, much needed jobs. Elaine Edgcomb and Tamra Thetford at the Aspen Institute discuss their proposal for encouraging microenterprise investment as a job creation strategy in a November 2013 Economic Development podcast.
What are the challenges facing small business after the Great Recession? Ty Barksdale of Sutton Bank and Jake Rouch of Erie Regional Chamber and Growth Partnership describe demands of the current workplace, including that workers be adaptable, collaborative, agile, and entrepreneurial, in a December 2013 Economic Development podcast.
Ever seen precisely how research informs policy? Check out this 2013 report from the Federal Reserve Bank of Cleveland, which weighs the pros and cons of modest legislative changes to help stabilize housing markets in Ohio. To lay the groundwork, we cite findings from multiple years of housing research conducted by the Cleveland Fed. We also solicited input from Ohio bankers, community development practitioners, and other market participants. Our five policy considerations for improving Ohio's housing sector have drawn the attention of policymakers in the state, too, with several being incorporated into proposals for changes to Ohio state housing laws.
This November 2014 event brought together national and regional leaders in the health and community development sectors to explore joint efforts for building healthier communities. Sessions focused on frameworks and measurements for assessing how community development projects influence community health. Hosted by the Federal Reserve Bank of Minneapolis, LISC Twin Cities, Blue Cross and Blue Shield of Minnesota Foundation, Healthy Futures Fund, Wilder Research, and the Robert Wood Johnson Foundation.
What are the economic development implications of immigration, and how can communities leverage immigrants as key workforce assets? Denny Coleman of the St. Louis Economic Development Partnership and Michael Iacovazzi-Pau of Greater Louisville Inc. discuss findings from a recent IEDC report in a January 2014 Economic Development podcast.
Can business models be designed to support low-income populations by providing jobs, necessary training, and other support services? In a February 2014 Economic Development podcast, Carla Javits and Jason Trimiew at the Roberts Enterprise Development Fund discuss their proposal for viable businesses that also include a workforce development component.
State workforce development agencies are crucial in deploying federal funding related to job training and placement. In this March 2014 Economic Development podcast, Rich Hobbie of the National Association of State Workforce Agencies and Burt Barnow of George Washington University explore how these agencies are evolving as funding streams change.
The Community Development and Policy Studies (CDPS) division of the Federal Reserve Bank of Chicago presents results from a poll to small business intermediaries in the fourth quarter of 2012, which asked about their perceptions of small business conditions in their neighborhoods. The purpose of this poll was to get a better understanding of the small business climate in diverse neighborhoods of the city of Chicago. The respondents comprised nonprofit organizations that provide technical assistance to (general business advice) and links to sources of capital for small businesses, as well as local market oriented business attraction and retention services.
The Chicago Fed’s Community Development and Policy Studies Department (CDPS) has developed a series of maps to identify areas in the Seventh Federal Reserve District facing the highest rates of foreclosure and mortgage delinquency. The maps show county-level data as of October 2013 for each of the five states in the District (Illinois, Indiana, Iowa, Michigan and Wisconsin) as well as zipcode-level data for the largest county in each state.
This article explores the roles of community colleges across the Seventh Federal Reserve District in addressing worker skill gaps. U.S. Census data indicate the percentage of the population with at least a high school degree has been increasing since 1970, as has the percentage of the population with post high school education (if not a four-year degree). During that time, the percentage of people with some college or a college diploma increased 160 percent. While these trends are encouraging, demands in the labor marketplace for technically skilled workers reinforce the value of investment in skills training. Published by the Chicago Fed’s Community Development and Policy Studies Department (CDPS)
This article provides a recap of the Asset Development Summit for Persons with Disabilities Summit, which brought together Chicago-area disability and asset building partners to discuss how to work together to expand economic empowerment opportunities for persons with disabilities. The February 2013 summit was hosted by the Chicago Fed’s Community Development and Policy Studies (CDPS) Division.
Introduced in July 2012, the Chicago Cook Workforce Partnership is a result of a coordinated effort between Cook County and the city of Chicago to broaden the reach of workforce development services for employers and job seekers by reducing costs, improving services, and engaging the business community. Quarterly reports analyze where the jobs are and who is hiring in Cook County. Data helps public and private officials, economists, academics, and others to better understand hiring needs across the region.
This blog provides a recap of two Wisconsin Economic Development Forums, held in autumn 2013, that focused on workforce development. Each forum featured a panel discussion on workforce development comprised of industry and policy leaders discussing practice, opportunities and policies to build a stronger manufacturing sector. The Chicago Fed partnered with the Wisconsin Regional Training Partnership (WRTP) and The Center on Wisconsin Strategy (COWS) to co-host these events.
This web page provides links to policy studies; banking and credit data; outreach and presentations and can be used to leverage resources for businesses in the Detroit region and support strategies to attract investment to the city. Created by the Chicago Fed’s Community Development and Policy Studies (CDPS) Division.
Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics and government officials. Feature articles in the Winter 2013-14 issue include: Family Scholar House: Educational Program Breaks Cycle of Poverty for Single Parents in Louisville; Health Around the Corner; Insight Park: Visioning for the Future of Oxford and Ole Miss; Anchor Institutions in the Mississippi Delta; Charter School Anchors St. Louis Neighborhood Revitalization; and more.
This article provides a recap of a summit convened to explore the shared goals and visions of the community development and public health fields; and where new opportunities exist for collaboration. The summit was hosted by the Community Development and Policy Studies (CDPS) division of the Federal Reserve Bank of Chicago, in partnership with the Illinois Public Health Institute, and the Adler School of Professional Psychology.
This collection of 16 case studies from across the United States includes two from the Federal Reserve Bank of Cleveland's Fourth District: the City of Cleveland’s urban, densely populated Central neighborhood and rural Martin County, Kentucky. On the surface, these two communities have little in common apart from high rates of poverty; their geographies, demographics, and histories point to two very different places. Despite the disparities, though, both communities face remarkably similar challenges to overcoming poverty.
These video recordings feature regional and national panelists from the conference “Neighborhoods and Residential Markets - Comprehensive Community Development in the Metropolitan Context.” Panelists discuss exploring ways in which neighborhoods within metropolitan areas are linked to one another through flows of population and investment from neighborhood to neighborhood, and how regional policymakers and community developers can work together to influence these flows to produce better neighborhoods and regions.
These video recordings are of panel discussions from the conference “Neighborhoods and Labor Markets - Comprehensive Community Development in the Metropolitan Context.” The “disappearance of work” in lower-income and predominately minority neighborhoods of America’s cities has been linked to a host of social ills. Recent research suggest that neighborhood employment rates are tied to factors such as the thinness of employment networks, racial discrimination in hiring and the failures of public education Panelists discuss how community developers are responding and highlight successes in adopting community-centered or community-mediated solutions to these basic labor market failures.
Participants in this Exploring Innovation in Community Development audioconference learned about the first state-level PFS pilot—the Massachusetts Juvenile Justice Social Innovation Financing (SIF) Project. The pilot focuses on reducing incarceration rates among high-risk young men who were formerly involved in the justice system. Third Sector Capital Partners was selected as the intermediary in a $25 million PFS project with Roca, an evidence-based service provider. Principals in this PFS contract provided a diversity of perspectives on how policymakers, investors, service providers and foundations can better understand their roles in future PFS transactions.
The Coalition for a Prosperous Mississippi has partnered with several organizations to improve the quality of life for residents and identify opportunities to support effective policies for asset development. Participants in this Exploring Innovation in Community Development audioconference learned about the overall policy landscape in Mississippi and how organizations are working to advance asset building by educating, informing and promoting policy change among low-wealth individuals and families within the state.
Presenters for this Exploring Innovation in Community Development audioconference discussed the outlook for the economy, housing markets and mortgage performance in the Eighth Federal Reserve District and the nation. They take a detailed look at home prices, mortgage delinquencies and foreclosures, and described the necessary conditions for these markets to stabilize. Produced in November 2012.
Lack of retail opportunities, along with vacant and boarded-up retail properties, contribute to safety concerns and other negative perceptions of inner-city communities. After decades of disinvestment, many neighborhoods are beginning to experience new retail activity. This Exploring Innovation in Community Devleopment audioconference provides information about the challenges and rewards of urban retail development; art as a tool to revitalize a neighborhood’s business district; and the importance of preserving independent retailers in a neighborhood.
In this 8 from the Eighth podcast, Mary Gwen Wheeler, executive director of 55,000 Degrees, Louisville, Ky.’s multi-sector public-private partnership dedicated to increasing educational attainment levels, discusses how her organization is striving to make education a key factor in helping to move Louisville’s citizens forward and boosting the region’s overall economic outlook, emphasizing cross-sector collaboration as the cornerstone of the initiative.
On October 30, 2013, Federal Reserve Bank of Richmond, together with the Opportunity Collaborative, hosted the release of the Opportunity Collaborative’s Baltimore Regional Talent Development Pipeline Study. Chris Seals, RDA Global Business Market Research, presented the study, which was followed by a panel discussion of the results. Additional information on the event and study can be found on the event link.
Although not directly affected by the boom and bust of the housing market, Appalachia, and more specifically rural Appalachia, might be fighting the Great Recession's aftershocks for quite some time. This report from the Cleveland Fed examines data to learn how Appalachians in counties from Kentucky, Ohio, West Virginia, and Pennsylvania are currently faring. Have they lost what little ground they gained from the late 1970s to the early part of this decade?
This webinar is aimed at sharing information with “traditional bankers” who may wish to know more about alternative lenders (such as micro lenders, community loan funds, CDFIs, and revolving loans) and how they can either partner with these lenders on participation loans or how they can maintain better customer service by referring to alternative sources those that they are unable to do in-house. A fourth webinar in the Richmond Fed's Community Development Financial Institution (CDFI) Building Capacity series.
The Federal Reserve Bank of Richmond’s Community Development Bank (CDB) Peer Group Analysis provides descriptive statistics on a peer group of community development banks that are tracked over time. The peer group of CDBs consists of banks that were in existence from the start date of the analysis and continue to be in existence as of the end date. The latest report incorporates data from 2005 to 2012.
Community Development Financial Institutions (CDFIs) are specialized financial institutions operating in markets that are underserved by traditional financial institutions. This section of the Federal Reserve Bank of Richmond's website provides information on CDFIs, with a particular focus on the Southeast region of the U.S. In addition, it includes a dedicated section on CDFI banks, also known as Community Development Banks (CDBs). Resources include webinars, data tables, reports, regulations, etc.
This series of reports, produced by the Richmond Fed's Research and Community Development Departments, provides state-level analyses of housing markets, and the composition and performance of mortgage markets in the Fifth Federal Reserve District. The reports are updated quarterly.
The Kansas City Fed's Funder's Guide offers philanthropists, funding agencies and small business development organizations information and guidance on how to support economic growth through supporting organizations that develop small businesses.
The Community Development Forum highlights the Bank’s initiatives, resources and programs for community and economic development. Topics include workforce needs, developing public-private partnerships, community development research, neighborhood stabilization and entrepreneurial communities.
The Kansas City Fed provides fact sheets for employees to understand and make the most of their paychecks. The additional resources for employers can be used to reinforce the information provided in the fact sheets.
The Kansas City Fed summarizes findings from a series of roundtable discussions held on the issues of workforce development and the chronically unemployed.
The Spring 2014 issue highlights the State Small Business Credit Initiative that is helping fund small businesses across the Tenth District by leveraging private lending. The issue also spotlights an Albuquerque collaboration assisting underserved families and children, and the use of crowd funding as a tool for social entrepreneurship. In addition, the issue features a Q&A with Mark Pinsky, president and CEO of Opportunity Finance Network, on the challenges facing CDFIs in the wake of the Great Recession.
Investments in local arts and culture can create social, human, and economic capital. In this video from the Minneapolis Fed, learn how a youth arts organization in Minneapolis unites creativity and community building. (A supplement to the April 2014 issue of Community Dividend.)
A 2013 mandate from the U.S. Treasury resulted in a reduced but focused pool of community development financial institutions. From the April 2014 issue of Community Dividend, a publication of the Minneapolis Fed.
Community development financial institutions often play a critical role in financing the infrastructure that makes good health possible. From the April 2014 issue of Community Dividend, a publication of the Minneapolis Fed.
In this issue of CDIR, the San Francisco Fed highlights a number of deliberate, innovative and interdisciplinary efforts addressing community development and environmental issues. These efforts are diverse, both in the issues they touch and the range of approaches and partnerships they employ. Issues addressed include air quality, climate change and water access on the environmental side, and education, health, and affordable housing on the community development side.
This issue of the San Francisco Fed's CDIR focuses on Pay for Success financing, its origins, models, potential implications, exciting potential and possible pitfalls. Pay for Success is a tantalizing idea, but it also raises important questions.
In this issue of the CDIR, the San Francisco Fed brings together a series of articles highlighting some of the stabilization strategies emerging from the efforts of committed nonprofits across the country. Included are lessons learned from the Housing Partnership Network’s 2011-2013 Innovations in Neighborhood Stabilization and Foreclosure Prevention Initiative along with a series of essays written by influential nonprofit and public sector leaders that enriches the conversation about neighborhood stabilization, providing new and provocative perspectives on this work.
This issue of the San Francisco Fed's CDIR includes the proceedings of the “Advancing Social Impact Investments through Measurement” conference held at the Federal Reserve Board of Governors in 2011. The issue also includes a series of thoughtful essays written by conference attendees in response to what they heard at the convening.
This issue of the San Francisco Fed's CDIR is dedicated to a simple idea: innovative ideas to solve poverty should not stop at the national border. There are too many good ideas abroad that can help inform our practices domestically, and good ideas here that can be relevant to other countries.
In the community development finance and impact investing worlds, there is both universal agreement on the need for better social outcome measurements and no consensus on how to do it. In this issue of CDIR, the San Francisco Fed offers ideas on how we might contribute to an ongoing process to establish a tool—or many tools—that help us measure the social benefit of impact and community investing.
In this issue of the CDIR, the San Francisco Fed explores the intersection of community development and health. Specifically, authors offer varying perspectives on how to “bend the health cost curve” using innovative community development strategies and how to positively affect social determinants of health to generate better health outcomes for low-income people.
This Connecting Communities session hosted by the Kansas City Fed explored how the CRA can support workforce development outcomes. Insight into how the CRA has been used by workforce investment boards was discussed based on findings from a survey of workforce development professionals. An overview of the CRA provided the basis for identifying additional options for extending its use to support workforce programs.
Here’s a startling fact: ZIP codes are more important than genetic codes in determining health. This Connecting Communities audioconference, hosted by the San Francisco Fed, offered examples of successful partnerships between the community development and health sectors. Also, learn how federal policies (e.g., Affordable Care Act, nonprofit hospital Community Benefit obligation) may create opportunities for future collaboration.
Small businesses in Puerto Rico represent a significant portion of the local economy. In 2013 the New York Fed co-sponsored, along with the FDIC and the U.S. Virgin Islands/Puerto Rico District Office of the U.S. Small Business Administration, a series of forums designed to expand opportunities for small businesses in Puerto Rico. The three forums focused on access to financing, government procurement contracts, and international trade. Presentations from the series are available, along with a Report on the Competitiveness of Puerto Rico's Economy.
A report on the Dallas Fed’s Texas Small Business Needs Assessment Poll, conducted in partnership with the Texas Small Business Development Center Network. Over 700 micro- and small businesses reported firm size, performance, financing and employee skill gaps.
This Connecting Communities audioconference, hosted by the Kansas City Fed, presents findings from quarterly survey data on how the low- and moderate-income (LMI) population has been affected by the Great Recession and subsequent recovery.
This issue of the San Francisco Fed’s Community Investments explores the emerging approach of collaborative community development and lifts up early learnings from pioneers in the field. The articles discuss how to establish and grow collective action leadership organizations and working groups and build a strong but flexible initiative framework; consider how government can be an effective partner in collective action work; and convey the critical role of data and measurement in these initiatives.
This Connecting Communities session highlights research from the Boston, Chicago and Philadelphia Feds on older industrial cities, with a focus on smaller cities. Presenters share findings from various research initiatives and engage the audience in thinking about how to build a network of practitioners and policymakers around smaller industrial cities.
This Connecting Communities session, hosted by the Fed's Board of Governors along with the Cleveland and Richmond Fed Banks, explores creative uses of data and technology to promote public and private investment in transitional communities—those with significant, perhaps erstwhile, strengths and assets but also declining housing values and population. Presentations include innovative, cost-effective, market-based strategies used to inform local decision-making, mobilize support and attract investment.
California’s San Joaquin Valley is one of the nation’s most impoverished areas. Recent developments such as the foreclosure crisis have heightened the Valley’s needs, and there is also evidence that the Valley is beginning to garner more attention from financial institutions and federal regulators, creating an opportunity for community-based organizations (CBOs) and financial institutions to work together in a mutually beneficial way. This paper from the San Francisco Fed describes how stakeholders have successfully collaborated to increase reinvestment in other locales, with lessons learned for the San Joaquin Valley.
This paper published by the San Francisco Fed provides insights and tools to help community development practitioners, policymakers, funders, and other stakeholders better understand how to maximize the effectiveness and impact of different types of organizations at the local and regional level. Understanding your comparative advantages is critical to addressing complex community development initiatives from foreclosure prevention, to sustainable energy, to urban education, to job creation.
This issue of the San Francisco Fed’s Community Investments, explores a selection of Native initiatives across the country. It discusses how Native communities are partnering with federal agencies to build and support sustainable housing in Indian Country and establish modern water and sewer systems for remote Native communities in Alaska. The articles also examine a community-based health worker initiative in the Navajo Nation and a Native Hawaiian financial education program and community-based lending institution.
The Federal Reserve Bank of San Francisco, in partnership with the Robert Wood Johnson Foundation, launched the “Healthy Communities” initiative in 2010 to explore how the health and community development sectors can collaborate. A regional meeting took place in Las Vegas in January 2012, which led to the formation of the Las Vegas Healthy Communities Coalition (LVHCC), a collective impact initiative with a mission to “foster collaboration and coordination across multiple sectors and stakeholders, to generate healthy outcomes for all Southern Nevadans.” This report, authored by Laura Choi, details the formation and progress of LVHCC, which is still in the early stages of development.
Transit-oriented development (TOD) can provide households with more opportunities and choices. Ideal TOD communities are mixed-use neighborhoods with good-quality public transit that connect people of a variety of incomes to a wide range of economic, social, and educational opportunities. This report published by the San Francisco Fed explores how Community Development Financial Institutions (CDFIs) can be utilized to provide financing for TOD projects.
This edition of the Philadelphia Fed's Cascade focuses on ways to strengthen household financial stability after the recession, why the unbanked use alternative financial services, the use of tax-time savings programs to build assets, the Cities for Financial Empowerment Coalition, and student loan debt. It also includes an interview with Sandra Braunstein of the Federal Reserve Board of Governors on the Federal Reserve’s role in community development, a Mapping Our Community feature on the distribution of household income, and a memorial to Frederick Heldring, former Philadelphia bank CEO and a founder of the Delaware Valley Mortgage Plan.
Published by the Philadelphia Fed, this report explores the fiscal challenges facing 10 small postindustrial cities in the Third Federal Reserve District. Using historic data to help explain the structural nature of the cities' challenges, this report then describes indicators commonly used to assess fiscal health and applies them to recent financial data for the 10 cities. The report also discusses implications for public support of community development investments and introduces strategies to improve the fiscal health of the postindustrial city.
Published by the Philadelphia Fed, this special report is a follow-up to the largely quantitative “In Philadelphia's Shadow,” which tracks the histories, current conditions, and trajectories of 13 small postindustrial cities in the Third Federal Reserve District. Focusing on the same 13 cities and drawing on interviews, experience, and the literature, the author explores the factors that have led to greater success in some cities and less in others. Many of these factors are strongly behavioral in nature, reflecting in part the values and relationships of each city's leadership and stakeholders. As it examines effective strategies and promising practices, this report offers insights intended to assist these cities in confronting their challenges and thriving as successful postindustrial cities.
In May 2014 the Philadelphia Fed and its cosponsors hosted the sixth biennial Reinventing Older Communities conference in Philadelphia, bringing together 465 community development stakeholders, bankers, government, business, and foundation leaders, policymakers, researchers and students from 25 states and the District of Columbia. The theme of the conference, Bridging Growth and Opportunity, was explored through plenary discussions, concurrent workshops, and keynote addresses, with an emphasis on innovative strategies and tools that create opportunity-rich communities inclusive of low- and moderate-income people. Presentations, audiorecordings and videos are available on the Philadelphia Fed’s Reinventing Older Communities website.
This conference is the premier training and networking event for community development professionals, including CRA officers, CDFIs, nonprofits and government officials. The 2014 program featured a keynote presentation by Federal Reserve Chair Janet Yellen; innovations in community development policy and practice; CRA examination training; the National Community Development Lending School; and Community development tours of Chicago. Click to watch videos of keynotes, select sessions, and attendee interviews.
In this 55-minute webinar hosted by the Philadelphia Fed, Community Development Research Manager Keith Wardrip shares highlights from a Cascade Focus report, Student Loan Trends in the Third Federal Reserve District, which looks at student borrowing in the Third Federal Reserve District and explores lending patterns, by the neighborhood income of the borrower, to better understand implications for low- and moderate-income communities. The webinar also includes on-the-ground insights from Clarifi, a Philadelphia-based nonprofit.
Visit the Center’s web page for information on this community development research initiative of the St. Louis Fed, which conducts primary and applied research focused on rebuilding the household balance sheets of struggling American families. The Center leverages its research to inform public policy, community practice, families and future research.
As part of the U.S. central bank—which has a dual mandate to promote price stability and maximum employment—the Atlanta Fed has a natural interest in deepening its understanding of labor force dynamics and workforce development issues. The Center for Human Capital Studies supports those efforts through its research, as well as by offering such resources as conferences, seminars, and labor market tracking tools.
This repository provides access to research published since 2008 by the Board of Governors and all 12 Federal Reserve Banks on topics related to employment, unemployment and workforce development. The aim is to make this resource a vital tool for researchers, students, and all those interested in the economics of labor markets and workforce development.
This special issue of Community Investments from the San Francisco Fed highlights excerpts from Investing in What Works for America’s Communities: Essays on People, Place & Purpose, with a particular focus on the topic of integration, a prominent theme that emerges from the book.
This May 2013 paper by the Minneapolis Fed and partners is a discussion of the context and potential benefits of forming a statewide CDFI network in Minnesota. Featuring comments from Minnesota CDFI practitioners, recommendations for next steps, and information about established national and state-level CDFI networks.
Given the attenuating effects of long-term unemployment on the broader economic recovery and the particular issues facing low- and moderate-income communities, the Federal Reserve Banks of Atlanta, Dallas, Kansas City, Minneapolis, New York, Philadelphia, Richmond, San Francisco, and St. Louis, together with the Board of Governors, explored regional perspectives on this issue through a series of forums held throughout the country. Read about the background and summary of these events.
This paper examines the challenges, along with current and expected future trends in affordable housing preservation and development utilizing LIHTCs.
Ever wonder about the Federal Reserve’s involvement in the field of community development? Wonder no more. Released in June 2014, Federal Reserve Community Development Perspectives: A summary of activities, insights, and future opportunities answers the "what," "why" and "how" of the Fed's role in community development. The report highlights the Fed’s recent efforts to address barriers to economic growth, and promote fair and informed access to financial markets. Featuring brief summaries of its community development work organized into four focus areas--people, place, the policy and practice of community development, and small business--the report includes background information that helps to provide context for this work, a sampling of key research, outreach programs and other initiatives, as well as some ideas on future challenges, needs and opportunities.
This article, from the Chicago Fed's Profitwise News and Views, provides historical perspective on the Community Reinvestment Act (CRA). A pivotal and at times controversial law, the CRA added new dimensions to the Fed’s responsibilities late in the twentieth century.
Learn more about the latest trends in community development in this one-hour Connecting Communities® webinar, held on July 10, 2014. National experts discuss ways the Federal Reserve promotes community development, and point to promising approaches and useful industry resources.
Want to learn more about “pay for success” models (including social impact bonds) and their potential use in the community development field? In this Connecting Communities® webinar from July 24, 2014, community development practitioners from across the country, including featured speaker Ian Galloway from the San Francisco Fed, share how these models allow government agencies to gain improved social outcomes, not just program outputs.
By identifying desirable parcels for development, American Indian tribes can make the most of a federal program that's putting reservation land back in tribal hands. From the July 2014 issue of Community Dividend, a publication of the Minneapolis Fed.
When major construction tore up a busy Twin Cities thoroughfare, a public-private partnership mobilized to help small businesses weather the disruptions. From the July 2014 issue of Community Dividend, a publication of the Minneapolis Fed.
This video, produced by the Minneapolis Fed, shows how specialized entities called community development financial institutions, or CDFIs, are uniquely positioned to help businesses in low- and moderate-income communities survive disruptions, such as the construction of a light rail transit line in Minneapolis-St. Paul. (A supplement to the July 2014 issue of Community Dividend.)
Frontline healthcare workers are increasingly important because of their impact on the patient experience, provision of quality care, and expansion of services to the newly insured. While representing some of the fastest-growing job categories, these positions are often marked by low wages, few benefits and difficult working conditions. This Connecting Communities® webinar, held on August 14, 2014, explored new research findings on how the Affordable Care Act is affecting these caregivers, as well as effective practices and policies for strategically investing in these positions to increase outcomes for employees, employers and patients.
The 12th District County Profiles, published by the San Francisco Fed, provide valuable information on the various labor-market, housing, and economic development issues impacting communities throughout the nine western states. More counties will be added in future rounds of profiles, so check back often to see if your community is featured!
This edition of the Philadelphia Fed's Cascade provides highlights from the 2014 Reinventing Older Communities: Bridging Growth & Opportunity conference. The major themes of intergenerational mobility and equitable growth and subthemes of education, employment, and revitalization appear throughout the issue. Articles focus on measuring intergenerational mobility and economic growth in the Third Federal Reserve District; reversing the cycle of poverty through education and mentoring, as well as workforce development; exploring the future of community development corporations (CDC) and measuring CDC impact; and more.
While appraisers have often been criticized for the inflated home values that were more prevalent during the housing boom, little research has been done to help understand how appraisal valuations respond to rapidly changing local market conditions and regulatory environments. In this discussion paper by the Philadelphia Fed’s Community Development Studies & Education department, researchers examine the pattern of appraisal bias in the Third Federal Reserve District during the housing crisis. Based on a unique transaction-level appraisal data set, this study evaluates how the lack of market activity, the concentration of foreclosures, and the increased use of appraisal management companies, as well as other factors, impact the incidence of low appraisals during the crisis.
This report released by the Philadelphia Fed reflects research conducted by students completing their master’s degrees in city and regional planning at the University of Pennsylvania, who investigated recent revitalization efforts in Bethlehem, Pa., Lancaster, Pa., and Wilmington, Del., with a focus on equity rather than on stated outcomes. This report summarizes their findings, includes proposals designed to produce equitable outcomes in each city, and provides a blueprint for cities interested in considering equity as an objective in future development efforts.
In this one-hour webinar hosted by the Philadelphia Fed, Community Development Research Manager Keith Wardrip shares highlights from a special report, Fiscal Stress in the Small Postindustrial City: Causes, Consequences, and Implications for Community Development, which explores the fiscal challenges facing 10 small postindustrial cities in the Third Federal Reserve District. The webinar also includes on-the-ground insights from the Pennsylvania cities of Allentown and Lancaster.
The Kansas City Fed recently launched the first installment of its newest periodic series. The Tenth District LMI Labor Force Report provides a snapshot of low-and-moderate-income (LMI) labor market conditions in the Tenth Federal Reserve District. The analyses provide trends in unemployment rates, employment projections for workers with training and experience typical of the LMI, wage data, and the LMI Job Availability Index from the Kansas City Fed’s LMI Survey. The goal of the report is to provide community development and social service organizations, policymakers, and others a gauge of District LMI labor market conditions.
Erin Barnes, co-founder and executive director of ioby, discusses how this crowd-resourcing platform for citizen-led neighbor-funded projects strengthens neighborhoods by supporting the leaders in them who want to make positive change. She provides examples of successful projects and tells you how to use ioby to get your ideas for change funded and up and running in your community.
The South Carolina Community Capital Alliance (SCCCA) in partnership with the Federal Reserve Bank of Richmond hosted a statewide community economic development capital conference on November 18. This event drew local and national partners together to further develop innovations in creating local capital to support South Carolina’s local economy.
The Forum on the EB-5 Economic Development Program, hosted by the New York Fed and CenterState CEO, convenes stakeholders to discuss how EB-5 is being used to benefit communities in upstate New York and beyond. Speakers will share their wealth of knowledge about EB-5 requirements, deal structure and future availability.
Community Credit Profiles, created by the NY Fed, provide local information on credit access and use, to help inform community development policymakers and practitioners. Indicators are updated twice a year at the national, state and county levels to enable peer comparisons and program and activity benchmarks.
This issue of Community Investments from the San Francisco Fed focuses on the efforts that help households build on their earnings and invest in their future. Highlighted here are programs and policies that expand consumer access to more affordable financial products; support renters in building their credit history; and provide assistance to families investing in their futures through children’s savings accounts, entrepreneurship, and retirement.
In this Exploring Innovation in Community Development webinar, national experts from CFSI, D2D Fund and PayPerks discuss innovative practices that translate financial knowledge into financial empowerment and greater access among LMI individuals. Learn about insights from behavioral economics used to promote financial health and stability; how video games and gamification can promote financial engagement and positive consumer outcomes; promising practices for promoting savings, including prize-linked efforts; and how incentive and rewards programs can boost financial capability, improve financial access and expand product usage.
This insightful Connecting Communities webinar focused on the impact that pre-purchase counseling has on improving creditworthiness over time. Participants heard key findings from the Philadelphia Fed’s recently released longitudinal study on the effectiveness of pre-purchase counseling. Leading experts highlighted effective and innovative counseling models being implemented around the country, shared perspectives on resources to support these programs, and provided insight on future policy implications.
Robust community development research, or performance context, is an important part of the Community Reinvestment Act (CRA) examination process, as it identifies needs and opportunities that exist within LMI neighborhoods and creates a framework for evaluating a bank’s performance in meeting community needs. This Connecting Communities webinar from December 2014 provides useful information about the performance context—what it means and why it matters—from both a regulator's and a banker's perspective.
How effective are economic development strategies that seek to grow local entrepreneurship and small businesses? Todd Johnson at Gallup and Dell Gines at the Kansas City Fed explore the successes and challenges associated with this approach in this Economic Development podcast from April 2014.
How can economic development practitioners best measure and track their strategies' outcomes? Tim Chase, of the Greater Wichita Economic Development Coalition, and Swati Ghosh, of the International Economic Development Council, discuss their research findings on assessing success in this Economic Development podcast from May 2014.
Massachusetts' Working Cities Challenge seeks to spur collaborative leadership in the state's smaller cities and help improve low-income residents' quality of life. Prabal Chakrabarti, from the Boston Fed, and Jessica Andors, from Lawrence Community Works, discuss the initiative in an Economic Development podcast from June 2014.
Microbusinesses are not only a proven vehicle for jobs creation, but they also promote economic growth. An Association for Enterprise Opportunity (AEO) report suggests their size and impact has implications for local economic development. Hear what Kim Alleyne, at AEO, highlights from the report in this Economic Development podcast from July 2014.
Some 31 million people are employed in U.S. microenterprises, businesses with five or fewer employees. Do these companies create good jobs with potential career advancement? The Aspen Institute's Joyce Klein and Luz Gomez discuss a report on this topic in this Economic Development podcast from September 2014.
How can local economic development strategies evolve to address demographic changes, technological innovation, and increasing global competitiveness? Dan Gundersen, a former senior commerce official, and Rick Weddle, president of the Metro Orlando Economic Development Commission, discuss the topic in a new Economic Development podcast from October 2014. Read the transcript, stream the conversation, or download it to your mp3 player.
Much of the wage growth in the United States over the past several decades has gone to the most productive (and highly educated) workers. This Partners Update article from the Federal Reserve Bank of Atlanta looks at the implications for community and economic developers.
Strong, well-functioning linkages between employers and a pipeline of local workers can be difficult to establish. But there are successful models. This Partners Update article from the Atlanta Fed features the Southwest Alabama Workforce Development Council, which exemplifies how collaborative regional partnerships can facilitate career pathways for local workers and also address industry's workforce needs.
In this Community Development Issue Brief, a researcher at the Boston Fed examines the factors that influence firm location choice in US cities--including availability of local labor, building lease costs, on-site parking for employees, and others--along with which of these might best explain the variance in employment trends across a set of small and mid-sized post-industrial Massachusetts cities. The results provide some indication of the extent to which these cities, and others like them, might influence their own economic futures.
Analyzing Home Mortgage Disclosure Act (HMDA) data, researchers at the Boston Fed provide a brief overview of New England's mortgage lending activity in 2012 and evidence of disparities in loan origination outcomes for borrowers of various incomes, races, and ethnicities in this Community Development Issue Brief from November 2014.
Young adults in the U.S. have experienced higher rates of unemployment and lower rates of labor force participation than the general population for at least two decades. The Great Recession exacerbated this phenomenon. Despite a substantial labor market recovery, vulnerable populations—including the nation’s young adults—continue to experience higher rates of unemployment. In this Connecting Communities webinar from January 8, 2015, experts focus on these issues and spotlight key findings from a recently issued Fed report.
How can you effectively use data to improve planning, engagement, and operations in your community? In this Connecting Communities webinar, experts from the National Neighborhood Indicators Partnership (NNIP) share strategic approaches they have used to improve community data use and discuss their experiences in using integrated community data systems and neighborhood-level indicators.
Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics and government officials that work in the Eighth Federal Reserve District. Feature articles in the Summer 2014 issue include: Treasury’s myRA To Debut in Late 2014; RISE to the Challenge: Immigrant Entrepreneurship in Louisville; Creating Opportunity Pathways for Asset Development; Redefining Historic Preservation; and more.
Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics and government officials that work in the Eighth Federal Reserve District. Feature articles in the Fall 2014 issue include: How the Shrinking of the Labor Force Might Impact Your Community; St. Louis Initiative Increases Youth Labor Force Participation; Broad Avenue’s New Face; Hands-On Commitment to Financial Education; and more.
How can sector-based workforce development strategies address the needs of both employers and job seekers? Maureen Conway of the Aspen Institute and Fred Dedrick of the National Fund for Workforce Solutions discuss a recent book on this topic in an Economic Development podcast from November 2014.
The Workforce Innovation and Opportunity Act funds the public workforce development system, which provides job training and placement services across the United States. This brief Partners Update piece from the Atlanta Fed provides an overview of the Act, which goes into effect in July 2015.
Is your county one of the 68 counties in the Fifth Federal Reserve District that have become more urban since 2003? Or is it one of only 22 that have become more rural? Find out in this issue of 5th District Footprint, which takes a look at changes along the rural-urban continuum in the Fifth District between 2003 and 2013.
This Dallas Fed article describes the new UpSkill Houston initiative from the Greater Houston Partnership. UpSkill seeks to help close the skills gap and fill middle-skill jobs in the booming regional economy by connecting leaders from industry, education and social service organizations.
REGISTER NOW: How will our companies and communities innovate to compete in a future where everything is accelerating? The 30th Annual Emerging Issues Forum, slated for February 9-10, 2015, in Raleigh, North Carolina, will explore how innovators in all sectors are thriving. Sessions will examine why success depends on innovation, and how innovation now requires designing for a loss of control. The Forum will outline critical decision points for economic developers and policymakers in communities of all sizes.
High school graduation rates can have a broad effect on an area's economic vitality. How can communities implement programs to help students graduate while also providing work skills? Mike Beatty, of Great Promise Partnership, and Mike Wiggins, formerly of Southwire Company, discuss an exemplary model in an Economic Development podcast from January 2015.
The EB-5 program was designed to attract foreign investment into economically distressed communities, but is it achieving that goal? A second blog post by the Atlanta Fed's Will Lambe discusses some southeastern projects and raises several issues for community and economic developers to consider.
Community development efforts to revitalize low- and moderate-income neighborhoods should begin with an appropriate understanding of the needs and opportunities present within these communities. This sentiment is especially true of banks looking to fulfill their Community Reinvestment Act (CRA) obligations. A truly responsive and innovative CRA program should begin with the “performance context,” or knowledge about the bank’s local markets, including the needs of the community as well as the opportunities that exist within the local network of resources and organizations. This paper from the San Francisco Fed attempts to demystify the performance context and establish its strategic value to the CRA process. It explores new opportunities for strengthening the performance context as a community development tool, from the perspective of both bankers and regulators.
With 90 percent of the world’s data generated in just the past two years, What Counts: Harnessing Data for America’s Communities challenges policymakers, funders, and practitioners across sectors to seize this new opportunity to revolutionize our approaches to improve lives in low-income communities. This book from the Federal Reserve Bank of San Francisco and the Urban Institute provides a roadmap for the strategic use of data to reduce poverty, improve health, expand access to quality education, increase employment, and build stronger and more resilient communities. Videos from the launch event on December 4, 2014, are available on the San Francisco Fed's Community Development YouTube channel.
The Small Business Financial Health Initiative is a joint project of the Community Development divisions of the Federal Reserve Banks of Chicago and San Francisco, Pepperdine University Capital Markets Project and FundWell, Inc. The purpose of the initiative is to raise awareness about small business financial health, in order to highlight policies, investments, financial and technical assistance resources needed to help small businesses achieve their goals. This report presents the results and findings from a Financial Health Business Survey that was administered in 2013 and initiates a discussion around the factors that drive the sustainability and growth of small enterprises.
The Community Development Data Guidebook, published by the San Francisco Fed, provides information on a variety of community development data resources, divided by topic area, along with a practical application of how to retrieve the data and suggestions on how to conduct appropriate analysis.
Artists and cultural institutions have an important role to play in neighborhood social and economic vitality. As community developers consider how best to reimagine space they can and should look to the arts to help create place. This work, otherwise known as “creative placemaking,” is beginning to take shape across the country. This issue of the San Francisco Fed’s Community Development Investment Review is dedicated to this emerging work.
The Kansas City Fed's biannual survey measures the economic conditions of low- and moderate-income (LMI) populations and the organizations that serve them. LMI individuals have incomes below 80 percent of the area median income, which is defined as the metropolitan median income for urban residents and state median income for rural residents.
Community Dividend asks Gerald Sherman, interim CEO of the Native Community Development Financial Institution (CDFI) Network, for his insights on the past, present, and future of the Native CDFI sector. From the January 2015 issue of Community Dividend, a publication of the Minneapolis Fed.
Increased demand and complexities could create a particularly challenging tax-filing season for Volunteer Income Tax Assistance providers this year. From the January 2015 issue of Community Dividend, a publication of the Minneapolis Fed.
This new Community Development Report from the Minneapolis Fed suggests that loan funds serving Native communities grew significantly in number and asset size from 2001 through 2012 and have generally posted fairly positive financial ratios.
Hear what Richmond Fed president Jeffrey Lacker had to say about innovation and human capital at the 2015 Emerging Issues Forum in Raleigh, North Carolina.
In listening sessions with the Atlanta Fed, workforce training providers noted the lack of soft skills in some workers. Those skills can be roughly divided into essential skills and workplace skills. In this Partners Update article, the Atlanta Fed's Stuart Andreason describes how both sets of skills are highly valued, but they imply different interventions. Understanding the different types of soft skill challenges—either essential or workplace skills—may help direct community development organizations toward the most effective interventions for certain populations.
The LMI Labor Force Report provides a snapshot of low- and moderate-income (LMI) labor market conditions in the Federal Reserve's Tenth District. The current report contains individual-level data from the Current Population Survey to compute statistics about LMI labor market conditions. It also provides updated information from the Kansas City Fed's LMI Survey on the availability of jobs in LMI communities and obstacles faced by LMI workers.
Raise the Floor, Build the Ladder: Good Jobs for New Mexico’s Workforce is a statewide summit to explore program, policy and funding supports for low-wage workers and employers in New Mexico. The April, 2015 summit was hosted by the New Mexico Direct Caregivers Coalition in partnership with the Federal Reserve Bank of Kansas City and the Con Alma Health Foundation.
This Fall 2014 edition of the Federal Reserve Bank of Chicago’s Profitwise News and Views highlights: workforce-focused programs and research around the Federal Reserve System; trends in educational attainment and (resulting) wage disparity; skills gaps among those seeking work; employer efforts to train workers; and examples of current workforce development initiatives in the District.
To what extent does the Small Business Administration (SBA) 7(a) loan guarantee program help facilitate flows of credit to small businesses in the city of Detroit, and to black and low- and moderate-income neighborhoods in Michigan? The Chicago Fed's Community Development and Policy Studies (CDPS) Division offers its analysis in this insightful article.
This article provides a recap of the Great Lakes Ports and Regional Growth: Integrating Environmental Health and Economic Prosperity conference, co-sponsored by the Federal Reserve Bank of Chicago, the state of Illinois, the Great Lakes Commission, the National Oceanic and Atmospheric Administration and the Council of Great Lakes Governors. The conference explored new approaches to promoting economic development and maximizing local maritime assets, while protecting and enhancing the Great Lakes water resource.
In this issue of Community Investments from the San Francisco Fed, we look into some of the reasons why we are seeing a degree of disconnection between what veterans need and the resources available to them. As we consider how the public can address these missing links, this issue’s articles provide evidence from local initiatives demonstrating effective ways for communities to recognize, support, and collaborate with veterans in the arenas of employment, housing, education, and financial stability. Many of the efforts presented here also highlight the ways in which veterans themselves are serving and supporting their fellow veterans and their broader communities.
This first essay in the Center for Household Financial Stability’s “Demographics of Wealth” series examines the connection between race or ethnicity and wealth accumulation over the past quarter-century. The essay is the result of an analysis of data collected from more than 40,000 heads of households between 1989 and 2013 through the Federal Reserve’s Survey of Consumer Finances.
The creative industries contribute about a million jobs to the U.S. economy, with supporting industries offering millions more. This Partners Update article by the Atlanta Fed's Joe Rondone, looks at the role the arts could play in the community development field.
In terms of health, the Southeast tends to trail behind other parts of the country, though efforts are under way to address these persistent challenges. In this Partners Update article, the Atlanta Fed's Karen Leone de Nie and Will Lambe look at resources generated in our region and by our Fed colleagues connecting health and community development.
A Qualitative Meta-analysis of the Housing Choice Voucher Program” by Erin M. Graves synthesizes housing subsidy voucher studies to explain why, when in theory, vouchers enable users to move out of poor neighborhoods, in practice, they often do not. This qualitative meta-analysis presents an examination of the formative assumptions of the program and their relationship to empirical findings.
As the country continues to rebound from the recession, community development financial institutions (CDFIs) are working to meet the needs of communities that slipped through the cracks during this turbulent period or that had few safety nets even before the recession. This March/April 2015 Partners Update article, authored by Atlanta Fed visiting scholar Donna Gambrell, discusses CDFIs doing business in the Southeast. These lenders provide capital for affordable housing, small businesses, schools, health centers, and manufacturing facilities.
As the name says, these initiatives are designed to concentrate investments in a specific location, and some couple infrastructure and human capital investments. This Partners Update article by the Atlanta Fed's Will Lambe summarizes place-based initiatives, describes challenges for communities incorporating such a strategy, and discusses best practices.
In determining how to direct their federal Low Income Housing Tax Credit allocations, states set their course for addressing current and future demand for affordable housing. This report, from the Minneapolis Fed's April 2015 issue of Community Dividend, features a number of video supplements, including interview excerpts that provide a banker's and a lender's perspectives on financing affordable housing.
Gary Cunningham, president and CEO of the Metropolitan Economic Development Association, offers his insights on obstacles and opportunities for minority small business owners. From the April 2015 issue of Community Dividend, a publication of the Minneapolis Fed.
In this video supplement to the April 2015 issue of the Minneapolis Fed's Community Dividend publication, Mary Keefe, executive director of Minneapolis-based community development corporation Hope Community, describes how her organization is using affordable housing to revitalize a once-abandoned intersection in the inner city.
This discussion paper by the Atlanta Fed's Stuart Andreason and Ann Carpenter examines the Atlanta metro area’s challenges in coordinating workforce development programs and services. The paper explores four cities that can serve as models of successful collaboration--Boston, Chicago, Cincinnati, and Detroit.
The Dallas Fed provides the results of its second annual Texas Small Business Needs Assessment Poll, conducted in partnership with the Texas Small Business Development Center Network. Over 1,400 micro- and small businesses reported on firm size, performance, financing and employee skills gaps, revealing overall optimism about business performance.
The St. Louis Fed’s annual Community Development Outlook Survey gathers input from a variety of stakeholders regarding the economic conditions of low- and moderate-income (LMI) households and communities in the seven states that make up the Fed’s Eighth District. Data from the survey is used to inform strategic planning, community and economic development, and public policy dialogue around issues and challenges for the District’s LMI areas.
Small businesses form the backbone of our nation’s economy and are at the heart of thriving communities. Behind every small business is a dedicated and passionate entrepreneur who has worked tirelessly to start and grow the company. In this 8 from the Eighth podcast, learn from Angela Lewis, city manager for the Network for Teaching Entrepreneurship, about how the organization is cultivating an entrepreneurial spirit among middle and high school students living in low- and moderate-income communities.
In this fourth Partners Update article in a series, the Atlanta Fed's Stuart Andreason and Mindy Kao investigate educational attainment trends in the Southeast, a region that has historically lagged behind the rest of the nation. This article, published in May/June 2015, looks closely at census and other data to try to uncover some positive trends that may exist despite the lag.
This bimonthly newsletter from the Kansas City Fed provides information on community and economic development trends across the Tenth Federal Reserve District.
This second essay in the Center for Household Financial Stability’s “Demographics of Wealth” series examines the strong correlation between education and money. The essay is the result of an analysis of data collected from more than 40,000 heads of households between 1989 and 2013 through the Federal Reserve’s Survey of Consumer Finances.
Recently updated, the Community Development Data Inventory is a collection of timely and publicly available data sources for those engaged in community development work. This tool highlights resources that can inform key community development issues and research needs, including demographics, the economy and jobs, housing, and education. For each resource, the guide includes an overview of the data, a description of the methodology and accompanying variables, links to training guides and additional information, and a few illustrations of the resources themselves.
The factors that contribute to economic dynamism in a small city can be elusive to define and measure. This May/June 2015 Partners Update article by the Atlanta Fed's Will Lambe looks at some elements of small city economic dynamism that may contribute to growth and development.
Organizations that help foster regional coordination among workforce development service providers recently convened to discuss successful strategies. This May/June 2015 Partners Update article summarizes their discussions, which include key challenges and methods for surmounting them.
This July 2015 newsletter from the Kansas City Fed announces an upcoming book on workforce development, examines a cluster-based model to supporting inner-city entrepreneurship in Omaha and provides updates on a borrowing guide for Native American communities. The newsletter also contains an interview with a Kansas City Fed economist on the role of millennials and boomers in the recovery of the multifamily construction market, as well as other news and events.
How available and affordable is rental housing in the Third District states of Pennsylvania, New Jersey, and Delaware? This report from the Philadelphia Fed is the qualitative counterpart to a quantitative report released in early 2015. Beyond the Numbers presents themes that emerged from interviews with experts from various housing related organizations, including nonprofit and for-profit developers, housing authorities, community development corporations, and other professionals on key challenges for low-income renters and the rental market.
This third essay in the Center for Household Financial Stability’s “Demographics of Wealth” series from the St. Louis Fed examines the connections between age and wealth. The essay is the result of an analysis of data collected from more than 40,000 heads of households between 1989 and 2013 through the Federal Reserve’s Survey of Consumer Finances.
Interest in gentrification is at an all-time high, but determining what differentiates ‘gentrification’ from reinvestment and revitalization isn’t always easy. One Cleveland Fed policy analyst says retaining affordable housing can help alleviate the negative effects associated with gentrification.
New research points to soft skills as an important indicator for success in the workplace. In this Economic Development podcast, Jonathan Finkelstein, founder and CEO of Credly, and Laura Lippman, senior fellow at Child Trends, discuss digital badging as a way to document these currently amorphous workplace skills.
The process of and approach to community development might be as important as the technical solutions. A Partners Update article from July/August 2015 highlights two recent conferences that discussed this theme and addressed the need to create new approaches.
Check out this Connecting Communities® webinar from August 20, 2015, and hear from national experts who explore models of communities achieving equitable growth around transit, including projects that have improved connectivity to quality housing, jobs, education and health care. Speakers, including Dan Bartholomay of Rail~Volution, Brian Prater of Low-Income Investment Fund (LIIF) and Shelley Poticha of Natural Resources Defense Council, share the latest equitable transit-oriented development (ETOD) policy framework, summarize emerging research, and discuss financing ETOD projects, including how to fill funding gaps by cultivating new public-private partnerships.
Over the past few years, there has been significant growth in the number of multi-site, cross-sector initiatives to improve communities and the lives of their residents. This working paper from the San Francisco Fed details “what works” and “pitfalls” in its analysis of both past and current initiatives. The paper also provides insights into the design and implementation of place-based efforts for community development practitioners, financial institutions, healthcare payers and others involved in site-specific initiatives.
What really makes us healthy? The top contributors to long-term health and life expectancy may be surprising to most. This video produced by the San Francisco Fed explains that only a fraction of what affects our health is actually related to healthcare. To truly improve outcomes, we need to look beyond healthcare at a variety of factors that impact health, and the community development sector is poised to address this challenge.
For commuters in rural areas with few transportation options, car ownership can be a key to self-sufficiency. From the July 2015 issue of Community Dividend, a publication of the Minneapolis Fed.
In this video supplement to the July 2015 issue of the Minneapolis Fed's Community Dividend publication, learn how housing and redevelopment agencies, or HRAs, partner with the public and private sectors to address local affordable housing and economic development needs.
This short, seven-minute video highlights the purpose, application and importance of the Community Reinvestment Act (CRA), a law that helps bring billions of dollars in bank capital to low- and moderate-income communities every year. Understanding how this law works is essential for banks looking to make impactful loans and investments, non-profits seeking funding, and communities wanting to ensure their financial institutions are operating in fair and responsive ways. Learn how the CRA works and what it means for communities across the country.
The Community Reinvestment Act helps drive significant investments into low- and middle-income communities, but not all communities benefit equally. This July/August 2015 Partners Update article by the Atlanta Fed's Will Lambe and Jessica Farr discusses where banks are motivated to act and provides a mapping tool to illustrate where particular banks engage in community development.
This September 2015 newsletter from the Kansas City Fed covers a Q&A with Elizabeth Isele; an adult education program in Wichita that unites technical training and employment; a discussion on collaborative community development; new information that helps lenders keep current; and audience-specific tools to help improve knowledge among youth, adults and employers. The newsletter also contains a discussion on collaborative development and findings from LMI Survey results.
Effective July 1, 2015, provisions of the Workforce Innovation and Opportunity Act, or WIOA, went into effect. What changes has this legislation prompted, and how might they help improve outcomes for workers, employers, and communities alike? In this primer, a senior policy analyst from the Cleveland Fed highlights key reforms of the WIOA, along with implications for policymakers and practitioners.
The consequences of providing public funds to financial institutions remain controversial. In this 2012 working paper from the Cleveland Fed, researchers examine the Community Development Financial Institution (CDFI) Fund’s impact on credit union activity using U.S. Treasury data. They find that politics does not seem to play a role in allocating funding.
This article from the Cleveland Fed’s policy publication Forefront looks at why the community development and health sectors are increasingly working together to promote healthy individuals and healthy communities. The article also covers highlights from an October 2014 convening by the Cleveland Fed of health policy and community development officials from across Ohio to discuss building healthier communities in the state.
Transforming U.S. Workforce Development Policies for the 21st Century is a dynamic new book that explores how innovative policies and practices can meet the changing needs of workers, businesses, and their communities. Produced in partnership by the Federal Reserve Banks of Atlanta and Kansas City, and the John J. Heldrich Center for Workforce Development at Rutgers University, this edited volume presents contributions from more than 65 leading scholars and practitioners engaged in workforce development. They examine the state of the labor market, and potentially transformative workforce development and education strategies and policies to improve opportunities for job seekers, students, and workers, especially those encountering the greatest difficulties in the labor market.
This working paper from the San Francisco Fed looks at the lending performance of one CDFI, the Low Income Investment Fund (LIIF), through the Great Recession. Its authors argue that LIIF’s success weathering the downturn—relative to similarly-sized banks—is the direct result of a “patient capital” approach to portfolio management unique to the CDFI industry.
Check out this Nov. 19, 2015, Connecting Communities® webinar, and learn about the growing field of U.S. Community Investing (USCI) and key recommendations on how to scale the field from report, Scaling U.S. Community Investing: The Investor-Product Interface by the Global Impact Investing Network (GIIN) and the Carsey School of Public Policy at the University of New Hampshire. Learn about two USCI models: the Calvert Foundation’s Community Investment Note and the Vermont Community Loan Fund. Speakers include: Amit Bouri, Global Impact Investing Network; Michael Swack, Carsey School of Public Policy, University of New Hampshire; Justin Conway, Calvert Foundation; and Will Belongia, Vermont Community Loan Fund.
The Kansas City Fed’s November 2015 Community Connections provides insights into borrower activity and looks at the future role of CDFIs. The issue also explores the relationship between community development and health, and examines creative approaches to workforce development and entrepreneurship.
Bridges, a quarterly review of regional community and economic development issues, projects, and regulatory changes, is for practitioners from community-based organizations, CRA officers, academics, and government officials working in the Eighth Federal Reserve District. Feature articles in the Summer 2015 issue include: Innovative Credit Union Association Expands Access to Capital; Better Homes, Better Loans: Better Business; Binghampton Development Corporation: Building Assets and Communities; The Hager Educational Foundation: Empowering Citizens To Make Better Communities; and more.
Published by the Philadelphia Fed, the Community Development Data Inventory describes timely and publicly available data sources to help inform the work of those involved in community development research or practice. This November 2015 release contains updated information and an expanded number in the inventory, from 16 resources to 24. The resources are described in easy-to-read, two-page summaries organized by topic, including Economy/Employment, Household Financial Stability, Housing/Homelessness, and Data/Mapping Platforms.
This summary of the report Gentrification and Residential Mobility in Philadelphia provides applied findings appropriate for a community development practitioner audience on gentrification and neighborhood change in Philadelphia.
Community development practitioners want to know how much banks are investing in a particular geography, as that information could help them "right-size" their strategy for bank partnerships. This second Partners Update article on the CRA, released in September/October 2015 by the Atlanta Fed's Will Lambe, provides an approximate figure for the Southeast.
Some municipalities are using community development initiatives that capitalize on the strengths of the community and its residents to improve living conditions. But what motivates residents to engage with their local government in the first place? This November/December 2015 Partners Update article investigates findings from an Atlanta example.
The Community Development department at the Kansas City Fed hosted roundtable discussions around the 10th District to explore opportunities that entrepreneurship can provide in African-American communities.
From the Dallas Fed, a list of resources for entrepreneurs including Small Business Development Centers, Community Development Financial Institutions, and others in Louisiana, New Mexico and Texas. Resources featured provide technical assistance, loan packaging, state licensing and more.
Lacking transit access, many lower-skilled workers in Northeast Ohio miss out on job opportunities, say Cleveland Fed researchers. This study looks at what Northeast Ohio business and civic leaders can do to increase job access.
The Community Benefit Agreement (CBA) model was created in the late 1990s as a tool to ensure that neighborhood residents would benefit from economic development projects, which are often heavily subsidized by taxpayer dollars. This article, from the Chicago Fed’s Community Development and Policy Studies Division, explores community benefits agreements and ordinances in Detroit, providing some background, as well as on-the-ground experience in the city as it struggles to regain ground economically.
In this 2015 edition of ProfitWise, the Chicago Fed profiles IFF--formerly Illinois Facilities Fund-- one of the largest and most innovative Community Development Financial Insitutions (CDFIs) nationwide. In its 27th year of operation, IFF is expanding its financial and development services, and its impact on low- to moderate-income communities, to a broad collection of Midwestern states.
The U.S. Treasury recently introduced myRA to address common barriers to retirement savings and offer a new option to save for retirement. The St. Louis Fed hosted an Exploring Innovation webinar (and related podcast) on the initiative, which provides a comprehensive overview of the program.
Speakers include Andrea Ambriz, Director of Policy and Strategic Engagement, myRA Program, U.S. Department of the Treasury; and Matuschka Lindo Briggs, Relationship Manager, myRA Employer Engagement and Outreach, Treasury Relations and Support Office, Federal Reserve Bank of St. Louis.
CRA OneSource is your source for Community Reinvestment Act tools, templates, guides, webinars and other resources to assist you in preparing for an exam and growing your community development program.
The opportunities and challenges in a given community are complex, and to understand them requires a thorough assessment of data intertwined with the voices of local businesses, non-profits, and residents. Using Los Angeles as an example, this analysis from the SF Fed incorporates quantitative and qualitative data to holistically assess a county’s needs.
Tune in to this December 2015 Connecting Communities® webinar to learn how the U.S. workforce system can be reimagined to address our evolving economy, which has been altered by the Great Recession and other disruptive forces. The discussion is driven by a new publication, Transforming U.S. Workforce Development Policies for the 21st Century. Speakers include Larry Good, Corporation for a Skilled Workforce; Anthony Carnevale, Georgetown University Center on Education and the Workforce; and Steve Hendrickson, Boeing Co.
Tune in to this Jan. 28, 2016, Connecting Communities® webinar to learn about two financial innovations being applied to workforce development: pay for success/social impact bonds and Canada’s community employment loan program (CELP). Speakers include Tracey Hsu, Social Finance Inc., and Bill Young, Social Capital Partners, who demonstrate how the pay-for-success model is well-positioned to scale effective workforce-development programs and highlight CELP’s potential broader impact: societal cost savings of moving people into stable employment.
Poor access to credit has long been theorized to contribute to poverty and economic inequality. However, costly fringe credit products like payday loans may be even more harmful. Critics call for strict regulation of such products, while the empirical evidence on the effects of fringe borrowing is mixed. In this Community Development Discussion Paper from the Boston Fed, researchers examine how regulation on fringe lending at the federal level and payday lending bans at the state level affected credit standing, search, and access of likely fringe borrowers.
The Kansas City Fed hosted the first webinar on February 23, 2016 in its series based on the book: “Transforming U.S. Workforce Development Policies for the 21st Century. The first webinar covered the chapters, "Creating and Communicating Critical Information about Workforce Credentials,” and “Connecting Workers to Credentials: The Promise and Pitfalls of Awarding Academic Credit for Prior Learning.”
In this Community Development Issue Brief from the Boston Fed, researchers offer insights from interviews with both African American and Caribbean-ancestry blacks that disturb any presumption that those who have made it to the middle class have achieved economic stability.
This Connecting Communities® webinar, hosted on Feb. 18, 2016, discusses the practical “nuts and bolts” of accessing the CDFI Bond Guarantee Program, an innovative federal initiative that offers creditworthy certified CDFIs access to affordable long-term capital. Learn how this unique program incentivizes and empowers CDFIs to execute large-scale projects. Speakers include Lisa Jones, CDFI Fund, U.S. Department of the Treasury; Douglas Bystry, Clearinghouse CDFI; and Jennifer Novak, Community Reinvestment Fund.
The Atlanta Fed cohosted a symposium at the 2015 Rail~Volution conference to examine strategies that would promote equitable transit-oriented development without gentrifying a neighborhood and displacing residents. This January/February 2016 Partners Update article provides a peek inside the discussions from the October 2015 sessions.
Close collaboration in the workforce development field is the current trend, creating a more accessible system for businesses and job seekers alike. In this Economic Development podcast, the Atlanta Fed's Stuart Andreason and Dee Baird of the Cedar Rapids Metro Economic Alliance discuss research findings on how the various players collaborate.
Some local communities are developing and deploying effective strategies and tactics to address common challenges in local workforce development. Critical to this effort is the fostering and facilitation of partnerships with traditional and nontraditional organizations. These partnerships are the topic of the Federal Reserve Bank of Atlanta’s recently released electronic book--a collaboration with national experts in workforce development, and companion to the 2015 publication, Transforming U.S. Workforce Development Policies for the 21st Century.
Long-term, affordable financing is one of the most pressing and persistent challenges facing the community development financial institution (CDFI) industry. Regulatory and business cycle pressures have tended to limit the borrowing terms available to CDFIs. This January/February 2016 Partners Update article explores the current state of CDFI-Federal Home Loan Bank (FHLBank) membership by focusing on several new FHLBank members in the Atlanta region
Tune in to this March 30, 2016, Exploring Innovation in Community Development webinar discussing “brain waste,” the phenomenon of immigrants with college degrees being unemployed or working in jobs and fields that don’t utilize their educational and professional backgrounds. Learn about strategies, programs and best practices that help these immigrants transition to professional careers and maximize their full potential. Speakers include Amanda Bergson-Shilcock, National Skills Coalition; Rebecca Tancredi, Upwardly Global; and Manuel Portillo, Welcoming Center for New Pennsylvanians.
This Exploring Innovation in Community Development webinar from February 2016, the second in a series of three, features presenters who share emerging strategies to overcome unemployment hurdles faced by people between the ages of 16 and 24. Speakers include Brian Rauschenbach, Apprenticeship Carolina; Angie Kamath, Per Scholas; and Elyse Rosenblum, Grads of Life.
This Exploring Innovation in Community Development webinar from January 2016 highlights successful re-entry solutions for former inmates. Presenters share two promising practices that are helping ex-offenders gain marketable skills and get back to work. Speakers include Bill Heiser, Center for Employment Opportunities, and Debbie Mukamal, Stanford Criminal Justice Center.
Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics and government officials that work in the Eighth Federal Reserve District. Feature articles in the Winter 2015-2016 issue include: Thrivers and Strugglers: A Growing Economic Divide; Neighborhood “House Economy” Teaches Youth Life Lessons; Grassroots Neighborhood Revitalization in Hyde Park; Collaboration: The Key to Champion Community Investments’ Success; How Housing and Health Care Nonprofits Can Increase Access to Medical Residential Services; Jacobsville Join In!; and more.
This March 2016 webinar, hosted by the Federal Reserve Bank of Philadelphia's Community Development Studies & Education department, explores best practices and innovative approaches in summer and year-round employment. Speakers from JPMorgan Chase, STL Youth Jobs, the Center for Law and Social Policy, the US Chamber of Commerce Foundation, and the Philadelphia Fed explore ways that businesses can create more summer employment and internship opportunities, as well as strategies to build strong multiyear programs.
In this video supplement to the Minneapolis Fed's Community Dividend publication, the executive director of the Minnesota-based discount-food program Fare for All describes how her organization offers nutritious, low-cost groceries to food stamp recipients and other food-insecure people at sites in and around the Twin Cities metro area.
The St. Louis Fed’s annual Community Development Outlook Survey gathers input from a variety of stakeholders regarding the economic conditions of low- and moderate-income (LMI) households and communities in the seven states that make up the Fed’s Eighth District. Data from the survey is used to inform strategic planning, community and economic development, and public policy dialogue around issues and challenges for the District’s LMI areas.
The spring 2016 issue of the Boston Fed's Communities & Banking publication spotlights shocking racial wealth gaps in the Boston metropolitan area. Also, see our map on changes in home mortgage originations in New England.
Tune in to this May 12, 2016, Connecting Communities® webinar discussing gentrification and displacement in community development and urban revitalization. Presenters discuss how equitable and inclusive development policies and practices have supported commercial, residential and transit growth and community revitalization. They include Ingrid Gould Ellen, New York University Furman Center for Real Estate and Urban Policy; Harry Smith, Dudley Neighbors Inc.; and John Chin, Philadelphia Chinatown Development Corporation.
This Dallas Fed report, "Talent and Capital Concerns Temper Positive Outlook for Texas Small Businesses," provides results from the third annual Texas Small Business Needs Assessment Poll, conducted in partnership with the Texas Small Business Development Center Network. Over 1,500 micro- and small businesses reported on firm size, performance, financing and employee skills gaps.
Federal funding for the traditional workforce development system has declined dramatically over the past few decades. In this April 2016 discussion paper, Stuart Andreason from the Atlanta Fed examines several promising alternative financing models for workforce development programs, such as social impact bonds and income-share agreements.
How are Federal Reserve Banks engaged in economic development across the country? Will Lambe of the Atlanta Fed and Daniel Davis of the St. Louis Fed discuss various Reserve Bank initiatives in this Economic Development podcast.
This Forefront article from the Cleveland Fed is the second installment of a 4-part series examining eastern Kentucky's transition away from a coal-centric economy. This article looks at creative placemaking as an economic development tool the region can use.
This June 14, 2016, Connecting Communities® webinar focuses on a recently released book that examines the systemic causes of financial insecurity and how we can implement proven and emerging solutions. Speakers discuss promising practices for building financial well-being; topics include strength-based, multicultural asset development approaches (e.g., Lending Circles platform) and services that integrate financial capability and higher education to build the financial health of formerly incarcerated individuals. They include Laura Choi, San Francisco Fed; Kate Griffin, CFED; Jose Quinonez, Mission Asset Fund; and Paul Weech, NeighborWorks America.
Increased employment hasn’t translated into greater financial well-being, according to findings from the LMI ((low- and moderate-income) survey published by the Chicago Fed’s Community Development and Policy Studies (CDPS) Division. While surprising on its face, Seventh District respondents offer three broad reasons for this seeming contradiction.
Given changing regulatory and market factors in mortgage finance, the time is ripe for innovation, and it behooves policymakers, business leaders, and communities to consider potential alternatives to traditional mortgages. In this 2016 ProfitWise New and Views article, the Chicago Fed’s Community Development and Policy Studies (CDPS) Division explores five innovative products in the residential mortgage marketplace – some already in place, others in progress.
A decades-long trend is that jobs in manufacturing and other industries have been replaced with robotic equipment and other automation. The trend toward automation on farms is more recent, and is in many ways redefining what it means to work on a farm. This April 2016 Community Development and Policy Studies blog from the Chicago Fed profiles why it made sense for one Wisconsin dairy farm to make a big investment in a new state-of-the-art farm technology.
This blog summarizes responses from the latest survey from the Federal Reserve Bank of Chicago’s Community Development and Policy Studies (CDPS) Division regarding credit availability for small businesses and for people with low credit scores seeking mortgage credit.
The Robert Wood Johnson Foundation’s 2016 County Health Rankings shows a worsening of conditions in some “rustbelt” counties like Wayne County (Detroit), and Philadelphia County, ranking them lowest in their respective states in terms of the social and economic factors and physical environment that affect health. This blog provides highlights from a videoconference, co-sponsored by the Chicago Fed's Detroit Branch, as well as the Federal Reserve Banks of Cleveland and Philadelphia, which was designed to share strategies for developing and investing in community assets.
This blog summarizes responses from the latest survey from the Federal Reserve Bank of Chicago’s Community Development and Policy Studies (CDPS) Division survey focused on two topics: (1) community bank closures/acquisitions and (2) student debt.
The Kansas City Fed produced this webinar series with strategies for transforming workforce development policy and practice to meet the needs of today’s evolving economy. Each webinar explores issues in-depth with authors from Transforming U.S. Workforce Development Policies for the 21st Century, a book produced in partnership by the Federal Reserve Banks of Atlanta and Kansas City and the John J. Heldrich Center for Workforce Development at Rutgers University.
Designated a regional conference on United Nations Habitat III, "Southwest Border Colonias: Housing and Sustainable Development in the 21st Century" will convene practitioners, policymakers, researchers and colonia residents to promote international collaboration and solutions for persistent challenges in the southwest border region. The conference is hosted by HUD and the Dallas Fed and will highlight the Dallas Fed's 2015 report on Texas colonias.
In the past half-decade crowdfunding has emerged as a popular way to raise money online for a wide range of projects. As the reach of crowdfunding has expanded, the field of community development has the potential to benefit from the practice, both as a straight fundraising mechanism and as a way to give greater voice to community members. This San Francisco Fed working paper makes the case that in order for community development crowdfunding to reach its potential scale, and to involve the full range of potential stakeholders, better standards of data reporting and collection need to be established.
This working paper from the San Francisco Fed summarizes the results of the first-ever quasi-experimental design study of a youth financial capability initiative seamlessly integrated into a youth workforce development program.
The San Francisco Fed, in partnership with Housing California, surveyed California’s affordable housing developers in October 2015 to learn how they are faring three years after the dissolution of redevelopment agencies (RDAs); how their development pipelines have been affected by the loss of RDA funds; and how new legislation, local regulation, or funding strategies have impacted affordable housing development over the past three years. This report is an analysis of current conditions and challenges expressed in the survey responses of 71 affordable housing development organizations across California.
How did a formerly abandoned downtown transform into a tourism and industry capital? Over the past 15 years, Los Angeles has seen remarkable transformations as hundreds of new businesses have opened, thousands of new apartment units have been created, and the population living in the city’s center has tripled. This documentary from the San Francisco Fed explores the factors that led to these transformations and the triumphs and challenges of recent development.
Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics and government officials that work in the Eighth Federal Reserve District. Feature articles in the Spring 2016 issue include: Arkansas Communities Focus on Action, Reap Results; What Happens When the Least of These Gives the Most?; From Restaurant to Kitchen Incubator: Chef Space; Bioscience as a Foundation for Transforming St. Louis; The Information You Need for the Impact You Want: Two New Websites Link Data with Donor Action; and more.
The St. Louis Fed will host its next Exploring Innovation in Community Development webinar on Aug. 18, 2016, to focus on strategies that employers are using to provide access to appropriate financial services and to help employees make better money management decisions. Speakers include Joanna Ain, CFED; Katherine Brune, SunTrust Banks; Debra McGee, BankPlus; and Paheadra Robinson, Center for Asset Development.
Spurred by provisions of the Workforce Innovation and Opportunity Act, workforce investment board members and representatives of the Cleveland Fed gathered at a forum in June 2016 to offer their input for a collaborative, overarching plan to address persistent workforce challenges across Northeast Ohio.
This Exploring Innovation in Community Development webinar on Sept. 22, 2016, focuses on challenges that young adults face in putting financial knowledge into practice, as well as tools and strategies that build financial capability and long-term financial stability. Experts, including Leigh Phillips from EARN, Margaret Libby from MyPath, and Lisa Potts, from People's Community Action Corp., share what innovative programs and platforms are available to incent goals and savings, and equip youth with critical tools at pivotal learning opportunities.
The Cleveland Fed’s Community Development Department chose five sector-based partnerships to include in a compilation of case studies. A few important similarities across the initiatives: active and substantive employer engagement, trust building across partners, and a strong intermediary can do a lot to promote relationship and trust building.
The strengthening labor market provides an opportunity for both employers and policymakers to reconsider the status of subgroups that face distinct barriers to the job market. One important underemployed subgroup is the formerly incarcerated. This article, featured in Issue 2, 2016, of the Chicago Fed's ProfitWise News and Views, summarizes some of the challenges preventing many former prisoners from entering the labor force, and provides an overview of two recent symposiums organized by the Fed’s Community Development and Policy Studies (CDPS) unit to explore policy and programmatic interventions to address the issue.
Across the U.S., neighborhoods face disparate healthy food access, which has motivated federal, state, and local initiatives to develop supermarkets in “food deserts.” Differences in the implementation of these initiatives are evident, including the presence of health programming, yet no comprehensive inventory of projects exists to assess their impact. Using a variety of data sources, this Working Paper from the San Francisco Fed provides details on all supermarket developments under “fresh food financing” regimes in the U.S. from 2004-2015.
This volume from the San Francisco Fed is about a type of American neighborhood that has been largely absent in the long-standing discussion about America’s neighborhoods—those neighborhoods in America’s cities and suburbs that are not in deep distress, but are not thriving either. The authors hope to reinvigorate a discussion about improving middle neighborhoods in America’s cities and suburbs as a complement to the discussion underway nationally and in many local settings about improving distressed neighborhoods or coping with gentrification.
A diverse audience of practitioners attended this conference from across Texas—including health care, community development and financial institutions—to better understand challenges and opportunities around creating and investing in vibrant, healthy, mixed-income communities. It was hosted in Austin, Texas by the Dallas Fed, HousingWorks Austin and Children's Optimal Health.
This Exploring Innovation in Community Development webinar, from Oct. 18, 2016, focuses on innovative programs and products that are available to assist individuals and families save, as well as various ways to make saving a fun and satisfying experience. Speakers include Theresa Schmall from CFSI and Nashila Somani-Ladha from the Doorways to Dreams (D2D) Fund.
In this first issue of its new Community Outlook Series, the Dallas Fed analyzes results from a poll of 52 affordable housing developers in over 24 Texas counties, and includes qualitative interviews that address housing challenges for providers and low- and moderate-income families across the state. Key findings include: A third of all Texans are housing cost-burdened and developers face issues from rising costs, insufficient funding, strict regulations and community opposition. Learn more.
This Connecting Communities® webinar focuses on the impact in impact investing. In Navigating Impact Investing, experts propose creating impact classes as a way to optimize the process of matching an investor’s unique preferences with the right opportunities. Co-authors Ben Thornley (Tideline) and Cathy Clark (Duke University) share their proposed impact classes, the feedback they’ve received from stakeholders, and how to turn this concept into reality. Sasha Dichter (Acumen) offers a practitioner’s reflections on what an impact class framework may mean for the impact investing field.
A conversation with Marcus Owens, president of NEON, who is working to expand opportunities for low- and moderate-income entrepreneurs and help them build wealth. From Community Dividend, a publication of the Minneapolis Fed.
The fall 2016 issue leads off with the necessity of teachers of color in public school systems and also reports on local educators' reactions to Common Core implementation. Other topics include the high prevalence of young adults receiving Social Security Disability benefits in northern New England, an overview of the region's addiction epidemic, a look at unemployment and the popularity of lotteries in Maine, and the relationship between homelessness and subsidized housing. More articles cover the Capital & Collaboration initiative's examination of community investment in Massachusetts Working Cities, how mobile payments help streamline commuting, a collaboration between Starbucks and a nonprofit group of CDFIs to create jobs, and data on childhood food insecurity in New England.
Ohio law has been amended to allow for speedier foreclosures of so-called zombie properties, and this article asks Cleveland Fed community development experts if the new option will benefit neighborhoods.
On this Connecting Communities® webinar, particiants learn how an employer-led national collaboration of health care leaders promotes investment in the skill and career development of frontline workers. Kelly Aiken (National Fund for Workforce Solutions; CareerSTAT) discusses the framework and strategies outlined in CareerSTAT’s Guide for Investing in Frontline Health Care Workers. Emily Brown (UnityPoint Health) and Mark Burns (Homebridge) share how these strategies work in practice, and their impact on employees and business outcomes.
Check out this brief collection of writings, based on a Chicago Fed convening and local conversation about financial well-being. This gathering was motivated by What It’s Worth, a joint publication of the Corporation for Enterprise Development (CFED) and the Federal Reserve Bank of San Francisco, collecting insights from thought leaders across the country on the topic of financial capacity for families and communities.
This article, featured in ProfitWise News and Views from the Chicago Fed, summarizes a 2015 conference co-hosted by the Federal Reserve Bank of Chicago at the University of Wisconsin–Platteville on building healthy and sustainable rural communities. The event provided an opportunity to explore what is working to build health, prosperity, and resilience in rural communities.
This article from a 2016 Federal Reserve Bank of Chicago’s Profitwise News and Views publication provides an in depth look at the Cara Program. Since 1991, Cara has helped men and women affected by poverty to get and keep good jobs, and more importantly rebuild hope, self-esteem, and opportunity for themselves and their families in the process. Cara produces hundreds of jobs each year, at retention rates over 20 percentage points higher than national averages, and with over 80 percent of employed participants moving onto permanent housing in which their families can thrive.
Bank lending in low- and moderate-income (LMI) neighborhoods in the Chicago area has remained well below levels that preceded the Great Recession in 2008. This blog summarizes a 2016 convening by the Community Development and Policy Studies (CDPS) department of the Federal Reserve Bank of Chicago and the Chicago Metropolitan Agency for Planning (CMAP). The meeting brought together more than 20 bankers to share their perspectives on what drives lending and investment trends in their respective markets, and what local banks are doing to increase lending activity in LMI neighborhoods.
This publication includes papers originally presented at the ninth biennial Federal Reserve System’s Community Development Research Conference. The authors of the essays in this volume explore a range of issues and concepts central to understanding how—and how well—people are able to move economically.
The Rental Housing Affordability data tool enables users to examine trends in rental housing affordability in Third District states from 2005 to 2014. Additionally, the tool includes demographic and economic profiles of cost-burdened, lower-income renters to enable users to better identify vulnerable groups and inform the development of programs and services.
This Connecting Communities® webinar was inspired by a collection of essays released by the St. Louis Fed and the Fed's Board of Governors. Speakers reflect on the current state, existing challenges and opportunities that exist to shape a better future. Presenters include: Ray Boshara, director of the St. Louis Fed’s Center for Household Financial Stability; David Buchholz, deputy associate director of Consumer & Community Affairs at the Federal Reserve Board; Erin Currier, director of financial security and mobility at The Pew Charitable Trusts; and Nisha Patel, executive director of the US Partnership on Mobility from Poverty.
Workforce development contributes to a strong economy by equipping workers to succeed in the labor market and supplying employers with quality talent. This framework, from the Dallas and Kansas City Feds, is designed to give banks—and organizations interested in partnering with them—tools and information to engage in workforce development activities in ways that may help them fulfill their obligations under the Community Reinvestment Act.
Institutional investors purchased thousands of homes across the country to rent them after the real estate and financial crisis. In this December 2016 Community and Economic Development Discussion Paper from the Atlanta Fed, authors examine how the rise of the large corporate landlord in the single-family rental market affected housing stability in Atlanta.
This report from the Dallas Fed and the Center for Public Policy Priorities draws upon survey results from Texas' 28 workforce boards to demonstrate how integrated regional workforce development systems are strengthening the middle class by building talent pipelines that help advance lower-skilled workers and job seekers.
Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics and government officials that work in the Eighth Federal Reserve District. Feature articles in the Winter 2016-2017 issue include: Indianola Promise Community: Improving Academic Outcomes in the Delta; Working Together to Address the Wealth Gap; Community and Economic Development: Around the Globe and Back to the Mississippi Delta Region; 12 Steps to Financial Success: Empowering At-Risk Adults; Memorial Community Development Corporation: Putting Faith to Work; and more.
This issue of the Community Pulse presents findings from our 2016 survey. Access to affordable housing, availability of local job options, and improving the quality of K-12 education ranked among the top three issues in the Fifth District.
Nonprofits play a variety of roles in our daily lives; from providing higher education and medical care to supporting the arts. This issue of the Fifth District Spotlight looks at the nonprofit sector in the U.S. and within the Fifth District.
Volume 4, Issue 1 2016 of Community Scope uses the results of the 2015 survey to present timely key findings on CDFI activity in the Southeast, including capitalization, demand, capacity, non-lending programs and services, and impact investing.
This Connecting Communities® webinar, from April 13, 2017, engages experts in a dialogue about research and current initiatives to close the skills gap that exists in the U.S. economy today. Speakers include Papia Debroy and Sally Smyth, Opportunity@Work; Andi Rugg, Markle Foundation; Mels de Zeeuw, Federal Reserve Bank of Atlanta; and Keith Wardrip, Federal Reserve Bank of Philadelphia. They discuss potential solutions that connect talented workers with gainful employment based on demonstrated skills and competencies rather than degree.
New approaches to developing such training programs are the topic of an Atlanta Fed ebook, Developing Career-Based Training. The ebook is a collaboration with national experts in workforce development. It follows the Atlanta Fed’s first ebook, Models for Labor Market Intermediaries, which shows how organizations in different contexts make the connections needed to address local workforce challenges. The ebook is also a companion to the 2015 publication, Transforming U.S. Workforce Development Policies for the 21st Century.
In 2016, the Federal Reserve Bank of San Francisco held a series of roundtable discussions across the Western states to examine drivers of the recent rise in involuntary part-time employment and the impact it has on lower-income households. This paper summarizes existing research on the topic of underemployment, discusses themes that surfaced during the locally focused meetings, and proposes ways to address the underlying causes through solutions that build on the interrelated nature of housing, jobs, transportation, and child care.
Building on the concept of creative placemaking, this paper from the San Francisco Fed presents an idea for a Community Development Financial Institution organized around art: CultureBank. Housed at Yerba Buena Center for the Arts, this nonprofit bank will specialize in unleashing asset value in art collections and focus on artists as borrowers, or Artist-Entrepreneurs.
This Connecting Communities® webinar focuses on highlights of the Federal Reserve Board's December 2016 report, "Experiences and Perspectives of Young Workers." The report provides a snapshot of the educational attainment, employment experience, job market outlook and financial self-sufficiency of 18- to 30-year-olds, based on data collected through a 2015 survey. Speakers include: Heidi Kaplan of the Federal Reserve Board, Ofranama Biu of City University of New York and Amy Blair of The Aspen Institute.
Investing in America’s Workforce seeks to strengthen our nation’s economic potential through reframing and reimagining workforce development efforts, taking a broader view of them as investments, rather than as a limiting view centered on the delivery of social services. This initiative will connect businesses, government, nonprofit, and philanthropic partners to rethink policy and investments, attract new resources, and improve economic mobility for workers.
This national convening supported Workforce Innovation and Opportunity Act (WIOA) implementation, built upon the regulations and guidance, virtual training, and resources already available to the system.
Some Twin Cities neighborhoods are using art-based approaches to create distinct identities, spark public interest, and address challenges their residents face. From Community Dividend, a publication of the Minneapolis Fed.
In this video supplement to the Minneapolis Fed's Community Dividend publication, stop by the Little Mekong Night Market, a summertime street festival in St. Paul, Minn., that celebrates Southeast Asian arts and culture.
Campaign organizers aim to saturate the Blackfeet reservation with messages about the opportunities and pitfalls that large legal payouts present. From Community Dividend, a publication of the Minneapolis Fed.
An analysis shows that since the housing crash, mortgage denial rates in the Ninth Federal Reserve District are higher in rural areas than in urban areas. From Community Dividend, a publication of the Minneapolis Fed.
This white paper produced by the St. Louis Fed focuses on the benefits of nonprofit co-location, the unique position of CDFIs to partner with these facilities, and how co-location is happening in the U.S. The research was presented at the Bank’s Social Purpose Real Estate Regional Conference; materials and videos from the event are available here.
Read about C&B's transformation this fall into our new online magazine, Invested. Our spring 2017 feature article shares valuable lessons from the Boston Fed's Working Cities Challenge, an ongoing initiative to help smaller industrial cities in New England tackle social and economic problems. Also in this issue, we learn about the perils and abuses of land installment contracts, the value of community benefits agreements, and how entrepreneurship breeds opportunity in minority communities. Other articles highlight the importance of anchor institutions to local businesses, how "gamified" financial education seems to reinforce smart savings decisions, and we see evidence that pay-for-success approaches to preventing formerly incarcerated youth from reoffending can turn young lives around. Finally, we examine recent changes in the prospects for renters in New England.
This article highlights the 8th consecutive gathering of the Appalachian Funders Network (AFN). Foundations and grant makers met in Central Appalachia to participate in a working meeting about aligning their investment resources.
Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics and government officials that work in the Eighth Federal Reserve District. Feature articles in the Spring 2017 issue include: Memphis and Beyond: Assessing the Market for CRA Investment; Does College Level the Playing Field?; Back to the Future: Financial Capability in Social Work Practice; CRA: An Examiner’s Perspective – Train for Results!; Entrepreneurship and Re-entry: Aspire Entrepreneurship Initiative; and more.
Social Impact Bonds have demonstrated significant growth potential within their defined boundaries, but the standard model has not yet developed “mainstream” investment transactions capable of expanding certified evidence-based programs (CEBPs) commensurate with unmet population needs. This San Francisco Fed paper proposes an enhanced SIB model called “Scale Finance” in which asset owners and fund managers would work with CEBP developers to expand these proprietary programs at their maximum feasible growth rates.
This video, "CRA Community Development Defined," is part of the Federal Reserve System Video Series on The Community Reinvestment Act.
Small businesses are a vital component of our local and national economies. Watch this video to learn how the Dallas Fed stays informed on small business conditions through community visits, meetings and surveys, such as our Texas Small Business Needs Assessment Poll.
Over the past decade, housing costs have risen faster than incomes. The need for affordable rental housing has well outpaced the number of available units as well as funding allocations at the federal level. Local regulation and land use policies that increase the cost of subsidized, mixed-income housing construction and preservation have contributed to the affordability problem. This discussion paper explores new ideas about how affordable housing in an economically integrated, mixed-income community setting could be developed and operated in an environment of declining government subsidies.
This guide, designed especially for those new to the field of community development, also serves as a refresher and resource for those who don’t engage in financing projects regularly or those who would like to consider new partners and new tools for upcoming projects.
This Connecting Communities® webinar, produced in November 2017, highlights two innovative programs and a policy strategy that offers working solutions to mitigate the impact of blight, vacancy and abandonment in distressed communities across the country. Presenters include Kim Graziani, Center for Community Progress; Steve Lockwood, Frayser Community Development Corp.; Krysta Pate, Detroit Home Mortgage; and Matt Josephs, LISC.
"Investing in America’s Workforce: Report on Workforce Development Needs and Opportunities" analyzes information gathered from nearly 1,000 leaders who work at the intersection of workforce training, recruitment, and finance. The study provides a current snapshot of the workforce development sector and its key challenges. It offers strategies for improving the human capital of America’s labor force, expanding access to jobs, and innovating workforce development funding.
This report summarizes innovative activities from banks’ Community Reinvestment Act (CRA) performance evaluations in the areas of job creation, education and workforce development, and transportation and affordable housing. By providing real-world examples of situations in which banks received CRA credit in these areas, we hope other banks will consider pursuing similar opportunities in the areas they serve for which they can receive CRA consideration, thus promoting economic growth and prosperity in these communities.
This paper sets a framework for building transformative economies. Prepared by Paul C. Brophy, Robert Weissbourd, Andy Beideman for the Economic Growth and Mobility Project, the authors share policy levels to foster inclusive growth practices and highlight emerging approaches and innovative programs in regions across the country.
Apprenticeship is a talent recruitment and development strategy that has been used traditionally in construction and the skilled trades and is being applied to high-growth sectors such as health care, information technology, manufacturing, and financial services.
This guide explains how apprenticeships work; discusses trends, successes, and challenges in U.S. apprenticeships; provides case studies of five long-term apprenticeship programs; profiles new and noteworthy programs; and includes contacts and resources.
This article explores how implementing high-quality, culturally-based early childhood programs may help Native communities mitigate the effects of historical trauma and give their youngest members strong foundations in life. Featured in Community Dividend, an online publication of the Minneapolis Fed, on November 17, 2017.
In 2017, the Community Reinvestment Act (CRA) turned 40. This Dallas Fed publication examines the impact, successes and challenges of the CRA in Texas. It analyzed the performance evaluations of a sample of Texas banks to assess the CRA's monetary benefit and polled bankers to understand their perceptions of how the act is contributing to low- and moderate-income communities.
Invested is the Boston Fed's new interview-based community development magazine that presents the voices of those who are affecting or affected by low- and moderate-income issues in New England. Each four-issue series explores a different topic. Series One explores "Many Roads to Quality Work," and in our first issue of Invested, we consider the complex and crucial challenge of creating work schedules that meet a variety of needs, and learn why strategic scheduling is such an important element of quality jobs and successful businesses.
The two sectors of community development and health have long worked in the same neighborhoods, but they have not always worked together. This is starting to change, due in part to a growing recognition among health experts of the social determinants of health—the social, economic, and environmental factors that drive health outcomes. This discussion paper reviews early lessons on how to build a successful health and community development partnership, including an examination of the incentives for community developers, health professionals, state and local governments, and philanthropy to participate in these collaborations.
The Atlanta Fed’s interactive data tool identifies well-paying jobs across various educational requirement levels in states and metro areas. The monitor separates occupations into labor market groups based on entry-level educational requirements by employers. It also provides geographic-specific information on occupations, including total employment, median salary, and percent of monthly income needed for median regional housing costs.
This article explores the Small City Economic Dynamism Index, an interactive data tool that examines the economic trajectory of small and midsized cities. As the article explains, the tool's interactive charts enable peer comparisons and visualization of trends across time. The information can be used to support development of local policy, strategies, or funding proposals related to community and economic development in small and midsized cities.
Community development and health professionals often work with the same residents in separate silos, but that is beginning to change. This article previews a paper on emerging health-community development partnerships in the Southeast.
Since their creation in the 1990s, community development financial institutions (CDFIs) have worked to aggregate capital to help economically distressed communities across the United States. Because CDFIs have a mission to serve distressed or low-income communities, they are a natural partner for banks and other investors. Even so, long-term, affordable financing is one of the most pressing and persistent challenges facing the CDFI industry.This article discusses the current state of CDFI-Federal Home Loan Bank (FHLBank) membership. It focuses on several new FHLBank members in the Atlanta region, providing lessons that could be useful to others considering FHLBank membership.
As a proponent and facilitator of more equitable and inclusive communities, the Atlanta Fed’s community and economic development (CED) program works to activate financial, human, and social capital to foster economic growth and opportunity in low- and moderate-income communities in the Southeast. This article recaps a November 3, 2016, community tour that Atlanta Fed employees from CED and supervision and regulation organized for Fed Governor Lael Brainard. It was one of several trips she has made around the country to speak with community members and organizations about local challenges and community development efforts.
Apprenticeships have the potential to improve economic opportunity for workers who lack a traditional college education. This article assesses the state of apprenticeships in the Southeast and nationally.
Data show a persistent widening of income inequality in this country. How can communities establish economic growth that is both strong and inclusive? This article looks at a South Florida effort to improve prosperity for all and create a more resilient local economy.
How can a small city that suffers a natural disaster recover economically? This article explores the economic success and challenges of Cedar Rapids, Iowa, in the wake of a disastrous 2008 flood.
This two-part Connecting Communities® webinar series highlights how banks and their partners can play an important role in workforce development and help fulfill bank obligations under the Community Reinvestment Act. Presenters for Part 2 include Priscilla Dinn Alvarez, VIDA (Valley Initiative for Development and Advancement); Barbara Mahnen, Bank of America; Andrea Stiles Pullas, Mi Casa Resource Center; Rubin Ramos, BBVA Compass; and Steven Shepelwich, Federal Reserve Bank of Kansas City.
This blog post, published by the Center for Indian Country Development at the Federal Reserve Bank of Minneapolis, discusses two lenders owned by Clayton Homes that finance a high share of manufactured homes bought by American Indians and Alaska Natives on or near American Indian reservations.
The Community Investment Explorer (CIE) is an interactive tool that aggregates more than 500,000 transactions from the three programs that drive investment into underserved communities—the Low Income Housing Tax Credit, Community Development Financial Institutions, and New Markets Tax Credit programs, which support a range of activities from affordable housing to commercial real estate development, consumer and business lending, and more.
This issue of Community Scope presents key findings from the 2017 Richmond Fed’s Survey of CDFIs in the Southeast.
Bridges is a quarterly review of regional community and economic development issues, projects, and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics, and government officials that work in the Eighth Federal Reserve District. Feature articles in the Winter 2017-2018 issue include: New St. Louis Fed Tool Dives Deep into Community Investment; Cash on Hand Is Critical for Avoiding Hardship; Connecting a Memphis Community to the Built Environment through Equity; Investment Connection: The St. Louis Fed’s New Approach to CRA; CRA: An Examiner’s Perspective – Questions to Ask Workforce Development Partners; and more.
Using data from the Federal Reserve Banks' 2017 Small Business Credit Survey (SBCS), this paper investigates the various ways in which different types of firms with less than 500 employees experience and address hiring difficulties, including when they decide to increase compensation.
The results provide insight for policymakers trying to understand the linkage between compensation, labor market tightness, and productivity. Further, the variation in hiring difficulties across firm industry, education requirement, and geographic location informs economic and workforce development practitioners and policymakers working to develop targeted interventions.
This first essay in the Center for Household Financial Stability’s 2018 “Demographics of Wealth” series explores the connections between a person’s level of completed education and measures of their family’s financial well-being, including income and wealth. The essay is based on an analysis of over a quarter-century’s worth of data collected by the Federal Reserve through its Survey of Consumer Finances.
This second essay in the Center for Household Financial Stability’s 2018 “Demographics of Wealth” series explores the connections between a person’s birth year and measures of their family’s financial well-being, including income and wealth. The essay is based on an analysis of over a quarter-century’s worth of data collected by the Federal Reserve through its Survey of Consumer Finances.
Back in 2017, the Center for Indian Country Development (CICD) at the Federal Reserve Bank of Minneapolis released an online Reservation Profiles tool that provides demographic information about federally recognized American Indian tribes with populations of at least 2,500. In this CICD Blog post, read how the recent addition of Home Mortgage Disclosure Act data to the tool can enhance users' understanding of mortgage lending in Indian Country.
This Connecting Communities® webinar highlighted the new Opportunity Zones tax incentive, which aims to drive long-term equity capital to distressed communities by providing tax benefits on investments in Opportunity Funds. Speakers provided details on how the tax incentive is expected to work and highlighted emerging national and local strategies to engage residents around how these funds are deployed in their communities. Presenters included Rachel Reilly, Director, Impact Investing, Enterprise Community Partners; Eric Robertson, President, Communtiy LIFT; and Amanda Roberts, Senior Community Development Analyst, Federal Reserve Board of Governors.
The Center for Indian Country Development at the Federal Reserve Bank of Minneapolis has released the Tribal Leaders Handbook on Homeownership, a comprehensive guide to mortgage lending and creating successful homeownership programs in Indian Country. (For an overview of the handbook's development and features, see this CICD Blog post.)
In this July 2018 interview with Community Dividend, an online publication of the Minneapolis Fed, rancher Zach Ducheneaux from the Cheyenne River Sioux Reservation in South Dakota discusses his work promoting credit access and agricultural infrastructure in Indian Country.
These case studies from the Federal Reserve Bank of Dallas take a look at cross-sector partnerships that advance workforce and economic competitiveness in five regions: Rio Grande Valley, Texas; West Central Texas; Northeast Louisiana; Lane County, Oregon; and East Bay, California.
In this blog post from the Center for Indian Country Development (CICD) at the Federal Reserve Bank of Minneapolis, author and CICD Director Patrice Kunesh describes how an encampment in Minneapolis sheds light on homelessness, particularly in Indian Country.
Learn about investing in workforce development systems in this three-volume book Investing in America’s Workforce: Improving Outcomes for Workers and Employers. More than 100 authors share the latest research, best practices, and resources on workforce development focused on three distinct areas: Investing in Workers, Investing in Work, and Investing in Systems for Employment Opportunity. The publication is the result of a two-and-a-half-year collaboration between the Federal Reserve System, the Heldrich Center for Workforce Development at Rutgers University, the Ray Marshall Center at the University of Texas at Austin, and the W.E. Upjohn Institute for Employment Research. Download your free copy today at www.investinwork.org/book.
Using recently released American Community Survey data, the Center for Indian Country Development (CICD) at the Minneapolis Fed provides the first evidence of the Digital Divide extending to Indian Country. The CICD finds that broadband access on reservations lags behind national averages, but also that some Native Nations have broadband access rates far higher than the national average. Increasing broadband access in Indian Country may lead to expanded economic opportunities.
The authors of this article examine how the 2014 reauthorization of the federal Child Care Development Block Grant is—or isn’t—helping families and child care providers. From Community Dividend, an online publication of the Minneapolis Fed.
The Federal Reserve Bank of Kansas City hosted a three-part webinar series to promote the Federal Reserve System’s Investing in America’s Workforce initiative. Each webinar features authors and promotes issues presented in one of the three volumes of the Investing in America’s Workforce book.
This Federal Reserve Bank of Atlanta discussion paper examines a sample of recent randomized controlled trials of workforce development programs and reports to what extent this body of evidence informs policymakers about what works at scale. The findings show that most programs are implemented at a small scale, use nonrandom samples from the population of interest, and are concentrated in the most populous urban areas and U.S. states.
A nonprofit that is prepared for the departure of an executive is better positioned for success. This toolkit, designed for nonprofits at any phase of succession planning, provides an overview, outline of key roles, templates that nonprofits can tailor to their needs and links to related resources.
Engaging universities and hospitals to address economic disparities—often referred to as anchor institution strategies—has been understudied in the Southeast. This paper examines efforts to launch anchor institution strategies in the Southeast by exploring the case studies of New Orleans, Atlanta, and Miami’s efforts to establish anchor institution programs between 2016 and 2018.
Benefits cliffs, which occur when earnings gains are offset by the loss of public benefits, have long been recognized to create financial disincentives for low-income individuals to earn more income. In this paper, the authors develop a new methodology to study benefits cliffs in the context of career advancement. Further, they illustrate two policy interventions: a childcare subsidy phaseout that is gradual rather than sudden, and an application of transitional public benefits with asset mapping of financial resources. The authors show how each of these interventions benefits a low-income parent seeking to advance up the economic ladder.
The Unemployment Claims Monitor is an online tool that displays national and state data on unemployment claims. It provides a view of initial and continued claims, demographic information on claimants, and claimants’ industries. The tool also has information on special unemployment programs for furloughed workers, veterans, and federal workers, among others. It is updated weekly with U.S. Department of Labor data.
This report provides insight into the scope and scale of challenges that U.S. communities are facing amid the COVID-19 pandemic. It summarizes the findings of a nationwide survey of nonprofit organizations, financial institutions, government agencies, and other community organizations. The survey was conducted in early April by the 12 Federal Reserve Banks and the Board of Governors. It saw nearly 3,900 respondents serving urban, suburban, and rural communities.