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© RW Ventures, LLC 2014 Inclusive Regional Economic Growth CEOs for Cities National Meeting Nashville, TN November 5, 2014 Robert Weissbourd.

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Presentation on theme: "© RW Ventures, LLC 2014 Inclusive Regional Economic Growth CEOs for Cities National Meeting Nashville, TN November 5, 2014 Robert Weissbourd."— Presentation transcript:

1 © RW Ventures, LLC 2014 Inclusive Regional Economic Growth CEOs for Cities National Meeting Nashville, TN November 5, 2014 Robert Weissbourd

2 © RW Ventures, LLC 2014 Agenda I.Scope -- Economics II.The Inclusive Growth Paradox III.What is “Inclusive Growth”? IV.Implications for Practice V.Examples 2

3 © RW Ventures, LLC 2014 Scope – Systems Influencing Inclusive Growth 3

4 © RW Ventures, LLC 2014 The Inclusive Growth Paradox -.2 0.2.4.6 Wage Growth (1990-2000) 0.1.2.3.4 Poverty Rate (1990) Inequity is bad for growthDrivers of growth exacerbate inequity Sources: Federal Reserve Bank of St. Louis; Congressional Budget Office; RW Ventures Analysis INCLUSION is a BUSINESS IMPERATIVE INCLUSION is a BUSINESS IMPERATIVE Nonfinancial Corporations Sector

5 © RW Ventures, LLC 2014 What is Inclusive Growth? Total Wealth Distribution of Wealth 5

6 © RW Ventures, LLC 2014 What is Growth? Total Wealth Distribution of Wealth 6

7 © RW Ventures, LLC 2014 What is Growth? Distribution of Wealth Total Wealth Change in Height (Accumulation) 7

8 © RW Ventures, LLC 2014 What is Equity? Total Wealth Distribution of Wealth 8

9 © RW Ventures, LLC 2014 What is Equity? Total Wealth Change in Slope of Line (Distribution) Distribution of Wealth 9

10 © RW Ventures, LLC 2014 What is Inclusive Growth? Total Wealth Distribution of Wealth 10

11 © RW Ventures, LLC 2014 What is Inclusive Growth? Total Wealth Change in Accumulation and Distribution How can we enable this growth…. …with a more equitable distribution? Distribution of Wealth 11

12 © RW Ventures, LLC 2014 Our Challenge – Aligning Growth and Equity 12

13 © RW Ventures, LLC 2014 Our Challenge – Aligning Growth and Equity 13

14 © RW Ventures, LLC 2014 Our Challenge – Aligning Growth and Equity 14

15 © RW Ventures, LLC 2014 Our Challenge – Aligning Growth and Equity 15

16 © RW Ventures, LLC 2014 Inclusive Regional Economic Growth (IREG): Implications for Practice  “It’s the Economy, ….” Focus on opportunities for value creation: specific assets, markets and growth drivers  “Skate to Where the Puck is Going to Be.” It’s the next economy. Stop putting poor people in old economy jobs and businesses!  Inclusion is Not a Separate Economic Practice: it’s an intentional, integral part of every growth activity  Operationalize as a Core Design Principle from the start of (not an afterthought or ancillary) and throughout (strategies, products, management …) each initiative and enterprise 16

17 © RW Ventures, LLC 2014 Leverage Points for Sustainable and Inclusive Prosperity Leverage Points for Sustainable and Inclusive Prosperity Deploy Human Capital Aligned with Job Pools Increase Spatial Efficiency Create Effective Public & Civic Culture & Institutions Create Effective Public & Civic Culture & Institutions Enhance Regional Concentrations/ Clusters Enhance Regional Concentrations/ Clusters Develop Innovation- Enabling Infrastructure Market Levers Driving Next Economy Growth …  Functional clustering  Shift towards SMEs  More deliberate, open, flexible, collaborative  Cluster restructuring  new entrepreneurship and SME opportunities  Innovation Districts  Formal and informal economic networks  Cross Sector Initiatives  Transparency, openness  Move towards compact, well-connected urban form  Mobility and matching  Segmented, continuous, contextual training  Occupational- technology- firm pools 17

18 © RW Ventures, LLC 2014 Leverage Points for Sustainable and Inclusive Prosperity Leverage Points for Sustainable and Inclusive Prosperity Deploy Human Capital Aligned with Job Pools Increase Spatial Efficiency Create Effective Public & Civic Culture & Institutions Create Effective Public & Civic Culture & Institutions Enhance Regional Concentrations/ Clusters Enhance Regional Concentrations/ Clusters Develop Innovation- Enabling Infrastructure … Create Huge Opportunities for Inclusion Inclusive Clusters: Chicago FOOD Doer-Maker Space: Blue1647 Neighborhood/ Sub-Regional Business Planning: Greater Chatham Initiative Industrial land reuse: Casey-Atlanta Targeted inclusive training for emerging industries: YearUp 18

19 © RW Ventures, LLC 2014 Inclusive Regional Economic Growth CEOs for Cities National Meeting Nashville, TN November 5, 2014 Robert Weissbourd


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