Over the past several decades, U.S. city, county, and state governments have increasingly adopted a wide set of policy tools to spur community wealth building. Most commonly, local and state governments are investing directly in local businesses through economic development programs, which make loans to or investments in local enterprises, and through the active targeting of pension fund monies to support businesses within their regions. Read more about State & Local Investments...
The Niagara Region Ventures Fund, a component of ECIDA Financing Group, helps capitalize private investment that expands or retains employment in Erie County, New York. Prioritizing technology-based companies, the Fund considers funding for start-up, early stage and expansion stage companies that offer above average opportunities for economic growth and that will contribute to the long-term growth in the regional employment base. To date, the Fund has helped finance 28 local entrepreneurs with more than $6.5 million. Read more about Erie County Industrial Development Agency (ECIDA)...
Focusing on urban and high impact project development in Erie County Buffalo Urban Development Corporation (BUDC), a not-for-profit local development corporation chaired by the mayor, has had notable success with the development of Buffalo Lakeside Commerce Park. This 200+ acre Smart Growth" urban commerce park, one of the largest (in acreage) brownfield reclamation projects in New York, includes LEED-certified buildings, preservation of over 23 acres of freshwater wetlands, and 20 acres of public green space. Read more about Buffalo Urban Development Corporation (BUDC)...
Based in Boston, Mass Ventures is a quasi-public venture capital firm aiming to grow Massachusetts’ innovation economy by funding early-stage, high-growth startups transitioning from concept to commercialization. Since its establishment in 1978, Mass Ventures-supported companies have raised more than $1 billion in additional capital, creating jobs for over 7,500 Massachusetts residents and generating an estimated annual payroll of $229 million.
Based in Boston, the Massachusetts Association of Community Development Corporations (MACDC) is a statewide association of mission-driven community development organizations focused on building and sustaining a high performing and adaptive community development sector. MACDC members all work towards numeric, collective goals, which MACDC measures on a yearly basis and reports on in an annual report quantifying its members’ achievements. Since its founding in 1982, MACDC members have developed over 25,000 homes and attracted several billion dollars in investments to low and moderate income communities. In 2016 alone, its members built or preserved 1,643 homes, created or retained 5,285 jobs, and helped local entrepreneurs secure more than $44.1 million in financing.
Believing that creativity is the core of Boston’s economic vitality and key to its economic growth, Create Boston focuses on helping expand the local sector of creative industries – music, film, design, media, and crafts. As a subsidiary of the Boston Redevelopment Authority, Create Boston provides local businesses with what they need to succeed – a connection to training programs, low-interest cash for capital improvements, or even a curb cut or loading zone. Read more about Create Boston...