Huge Swaths Of America’s Communities Are Economically Stagnant: How Can We Make Them Grow?
In her Fast Company article, "Huge Swaths Of America’s Communities Are Economically Stagnant: How Can We Make Them Grow?," Eillie Anzilotti discusses the enormous need to develop and implement policies that support the establishment and growth of businesses in stagnant communities–and redirect some VC dollars away from the coasts.
Bringing distressed communities into the fold of overall economic progress, then, requires building new businesses there. Matt Rizai, chairman and CEO of the software firm Workiva, Inc., was thinking along these lines when he established his company in 2008 in Ames, Iowa, drawn by the prospect of lower property values and a strong workforce. That mode of development–establishing homegrown businesses in less-trafficked regions–should be the focus, Steve Glickma, Co-Founder and Executive Director at Economic Innovation Group, says. “It’s not a silver bullet, but it’s sort of low-hanging fruit in the policy debate that we should be setting up better systems of low-income debt financing and small business loans to get capital into these regions,” Glickman says.
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