Updated: Jan 22
How can we advance seemingly impossible equitable development initiatives without being tied to political cycles?
In hearing both success stories of economic development projects nationwide and those of failure, a clear trend emerged:
Partnerships and collaboration are no longer optional. Long gone are the game-changing projects that are conceptualized and brought to fruition by a single team in a lone room, and delivered in just a few years.
From flagship real estate projects to workforce development strategies to business recruitment, we saw creative collaborations that are helping projects outlive political cycles and utilizing creative funding streams while making the pie bigger for all involved. Economic development practitioners are collaborating with partners to solve for different policy and tactical solutions that vary based on local and regional regulations. A key tool for housing affordability in New York state, rent regulation, for example, doesn’t exist in Georgia. When considering how new development projects may transpire, multiple partners across sectors need to collaborate to ensure housing affordability tools are incorporated and used. In a similar manner, local advocates are needed to build coalitions that support major development projects across political terms.