Welcome to this week's issue of What Economic Developers Need to Know This Week, where we explore the evolving dynamics of our economy. Today's edition promises to be as refreshing as a splash in the pool.
This week we have 31 tools, stories, graphics, charts, and videos that I think you'll find informative, useful, inspiring, and perhaps even humorous. Some are economic development related directly, and some only indirectly. 🤔
If you're wondering what to do with the info in this newsletter, send something to your board members. It will make you look good!
As always, if you find something interesting, please send it to me.
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1) In 9 days, the U.S. will fall off a "child care cliff." That's when pandemic-era funding for the industry runs out: - As many as 70,000 centers, looking after 3.2 million children, may close after the funding runs out, according to a widely cited estimate from The Century Foundation.
2) How co-operatives can help boost equity in your rural economy: Cooperatives can play a big role in small towns, providing products and services to fill gaps as well as giving local people a share of ownership.
3) Reimagining Economic Development in a Small American City: Michigan City, Indiana, was once home to the largest factory in the state, a maker of railroad cars known as Pullman-Standard by the time it shut down in 1970, throwing more than a thousand people out of work. That foreshadowed a long period of post-industrial decline. But this small city on the south shore of Lake Michigan has been slowly growing back. It now stands poised to receive a surge of private development, spurred largely by public investment in a new downtown train station and commuter-rail improvements that will soon make it possible to zip over from Chicago in just an hour.
4) 15-minute communities: Fifteen-minute communities hold the promise of accelerating decarbonization, increasing affordability, reducing climate and health risks, and fostering social equity and inclusion. This walking-centered approach to city building lays the foundation for developing compact, mixed-use communities that can increase real estate value, create co-benefits with joint use and co-location, and generate new resources to invest in the community.
5) The roots of America's housing crisis: Housing starts in August fell 11.3% from July. That was disproportionately driven by a drop in multifamily units like apartments and condos, but starts of single-family homes fell by 4.3%, too.