New Report Highlights Local Strategies for Developing Equitable Innovation Economies

As U.S. cities increasingly focus economic development strategies on technology and innovation to spur economic growth, they should be cognizant that growing these businesses and jobs can also exacerbate local inequities and should, therefore, develop plans to address this issue, according to a newly released report from the Equitable Innovation Economies Initiative (EIE). Prototyping Equity: Local Strategies for Equitable Innovation Economies is a report of the EIE, a multi-year project launched by the Pratt Center for Community Development, PolicyLink, and the Urban Manufacturing Alliance focused on inclusive growth strategies for innovation and manufacturing. In addition to describing the importance of pursuing an equitable innovation economy, the report also documents the initiative’s cross-sector efforts in piloting new approaches across four regions: New York, NY; Indianapolis, IN; Portland, OR; and, San Jose, CA.

Four principles guide the work of the EIE, and as a result, should be considered by cities pursuing an equitable innovation economy, according to the report. These principles are: choose strategies that promote equity and growth simultaneously by identifying initiatives with the potential to maximize both job creation and job opportunities for local residents; target programs, investments, and other economic development resources on the people and places most left behind; assess equity impacts at every stage of the policy process, paying special attention to who pays, who benefits, and who makes decisions; and, ensure meaningful community participation, voice, and leadership to enable broader contributions in the decision-making process.

Based on these principles, the EIE focuses on a holistic approach to drive equitable growth around land use, business development, entrepreneurship, technology transfer, and workforce strategies. For each of these categories, indicators were developed by the pilot cities for potential program- and population-level outcomes, with data collected through short surveys. In particular, the following strategies were emphasized in the EIE report:

• Support entrepreneurs of color in manufacturing and innovation by addressing the unique challenges they face;
• Simultaneously preserve and invest in both industrial land and stable, affordable housing;
• For residents facing barriers to employment, invest in job training for skilled manufacturing occupations; prioritize the creation of jobs paying a living wage;
• Develop technology-transfer partnerships to strengthen local manufacturing bases; and,
• Deepen relationships and expand networks in low-income communities and communities of color.

Download Prototyping Equity: Local Strategies for Equitable Innovation Economies here: http://prattcenter.net/eie/wp-content/uploads/2016/08/Prototyping-Equity_Full-Report.pdf