Updated: Jan 22, 2020
What is equitable economic development anyway - new buzzword or can I take real action to bring it to my project?
At the foundation of our work at Karp Strategies, we believe that equity and upside go hand in hand. Best defined by the Partnership for Southern Equity, an organization based in Atlanta, economic inclusion is:
“increasing equity in the distribution of income, wealth building, employment, and entrepreneurial opportunities for vulnerable populations. In this definition, equity is a step beyond equality because it starts to take into account that people may not start from the same place and, therefore, ‘equal’ treatment may not resolve the gap that exists.”
We heard and shared examples of municipalities, Chambers of Commerce, non-profits, and developers grappling with equitable economic development as it becomes a part of our more mainstream practice and lexicon. How can we bring intention to action in our work? The economic development field is listening, with many practitioners shifting towards more holistic community development that looks at supporting local businesses, building talent pipelines from as early as middle school that lead to skille