Economic development describes the process of growing an economy by using policies and programs to create and retain jobs, increase wealth, strengthen the tax base, and improve the economic well-being of a community.
Traditionally, measures of economic well-being have focused on fiscal health. Equitable economic development is achieved when the policies and programs used to spur growth are specifically designed to ensure that traditionally underserved communities and individuals share in the benefits of growth. The end goal is for individuals to be both benefactors and beneficiaries of community and economic development initiatives.
Now, the Equitable Community Planning Toolkit from Fourth Economy Consulting is now live and ready for download. It includes:
- Equitable development investments across the nation in transportation, economic incentives, housing, entrepreneurship and more.
- A suite of national partners supporting communities across a variety of equity planning stages (research and benchmarking, strategy development, implementation and more).
- A framework for equitable economic development, including the different approaches communities can take and the systems of partners needed in this work.
- Worksheets for a community leader and/or set of stakeholders that can help you map and evaluate your economic ecosystems, with guided questions on centering the work to truly addressing equity and systems change.