We have all heard the story: A new shopping center opens. Downtown businesses leave. People follow in pursuit. Downtown dies. Today, many of these once extinct downtowns are thriving. Communities are investing in their downtowns because they know a vibrant downtown is key to attracting new businesse … Read more

Say you have learned of a community economic development (CED) program that seems to be a perfect fit for your area.  The need is already there and well documented, the program provides the right mix of projects, and all the program financial resources are available and already approved.   All that … Read more

Five years ago, excitement was building over the prospect of a new downtown vision. Local officials had just signed a long-term development agreement with an experienced master developer known for successful downtown redevelopment projects. The town and the developer worked hard to create a downtown … Read more

In Part I of the mega sites blog, we presented the “body-building” rationale for this industrial recruitment tool. In Part II, we’ll look at some risks of a mega site regimen and begin by introducing a new analogy: Attracting a major manufacturer with a mega site is a bit like fishing in a crowded p … Read more

The so called triple bottom line (TBL) in economic development calls for promoting growth in ways that are environmentally sustainable and that yield positive social returns.  (See Portland State University’s Initiative on Triple Bottom Line Development.)  The TBL framework takes into account the ec … Read more

North Carolina is one of the few Southeastern states that do not host a major auto assembly plant. But for how much longer? With automotive manufacturing employment on the rise again, economic development officials are preparing to be the preferred destination for the next carmaker. In order to add … Read more

This is the third in a series of blog posts on tools available to local governments to assist small businesses. Previous posts have covered revolving loan funds (parts I and II). A second option is a loan-loss reserve fund. What is a loan-loss reserve fund? A loan-loss reserve fund (LLRF) involves a … Read more

The main purpose of Community Development Financial Institutions (CDFIs) is to expand access to capital in low-wealth and underserved communities in order to foster economic development and revitalization. Many of these communities have been left out of the financial mainstream, unable to access fin … Read more

Program-related investments (PRIs) are a tool that many foundations use to achieve philanthropic goals and financial returns. In contrast to traditional grants, PRIs include loans, equity investments, loan guarantees, or other investments from foundations. Common program areas funded by PRIs include … Read more

Small business success is one of the cornerstones to the vitality of our communities. A variety of tools are available to local governments interested in supporting their small businesses. In this continuing series of blog posts about how local governments can assist small businesses, we will review … Read more