To Revitalize Neighborhoods Opportunity Must Replace Disinvestment
America’s most distressed neighborhoods are often rooted in systematic and institutionalized forms of racism and disinvestment.
Would-be entrepreneurs have a harder time accessing the resources necessary to participate in the economic development of their neighborhoods.
Disenfranchised residents can lose hope. They often seek work outside their own community. This leads to a cycle of neighborhood stagnation that worsens over time.
We believed in this model, and we saw this model as a long-term investment. A way to reach into these lives of people who are the least, the last, and the forgotten. Not every organization has the cultural values, norms, and ability to connect with our residents. We needed something that they can touch, and feel, something that resonates with them and see themselves in.
–Assata Richards, Founding Board Member of Emancipation Economic Development Council
The Value of Resident entrepreneurs
They have a deep understanding of their communities. When they establish businesses, they bring their unique perspectives and experiences with them.
They preserve and celebrate what is unique about a place and foster meaningful representation and inclusion within neighborhood economies.
They contribute to the redistribution of wealth and assets within the community and within their own families, helping to break cycles of intergenerational poverty and disenfranchisement.
They serve as role models and inspire others within their communities. Their sustained success has ripple effects across the community and sparks aspirations.
