America Needs a Superior Economic Growth Model

Building a Resilient EconomyOpportunities for Everyone

America Needs a Superior Economic Growth Model!

Greensboro, North CarolinaSarita Turner, PolicyLink

August 7, 2013

Opportunities for All

• PolicyLink, founded in 1999, is a national research and action institute advancing economic and social equity by Lifting Up What Works.®

• PolicyLink connects the work of people on the ground to the creation of communities of opportunity, that allow all to participate and prosper. Such communities offer access to good jobs, housing that is affordable, good schools, transportation, and healthy food and physical activity.

• PolicyLink works with HUD Sustainable Communities Initiative grantees to help them facilitate equitable regional planning.

What is equity?

• Equity means just and fair inclusion in a society where all can participate to their full potential

• Achieving equity requires intentionality, focus, and commitment

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Why is Equity Important?

• Planning processes are important to quality of life and sustainability. Everyone’s needs must be included.

• Planning that doesn’t include the needs of all unintentionally cuts people off from the very opportunity structures they need to take care of themselves, their family’s and contribute to the economy.

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We Need A Superior Growth Model

• Equity is the Superior Growth Model!

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Our Nation Is Changing

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• The nation’s spiking ethnic, racial and income inequality is putting our economy at risk

• The population continues to grow and almost all of that growth is coming from nonwhites and the Latino population

• In America, nonwhites and Latino’s are the most impacted by inequities.

Ethnic Racial and Economic Inclusion Are Key to Economic Competitiveness

1) Growing need for a skilled workforce

Jobs in 2018 Re-quiring at Least an

AA

White Black US-Born Latino

Foreign Born

Latino

US-Born Asian

Foreign Born Asian

45% 43%

27% 26%

14%

68%

59%

Share of Working Age Population with an Associate’s Degree or Above in 2010

Racial and Economic Inclusion Are Key to Economic Competitiveness

2) Inequality is bad for sustained economic growth

Source: Andrew Berg & Jonathan Ostry

Racial and Economic Inclusion Are Key to Economic Competitiveness

3) Diversity is an economic asset

Business Growth Receipt Growth

46%

55%

18%

33%Minority-owned businessesAll businesses

Source: US Census, Survey of Business Owners, 2002 and 2007

Growth in Businesses, 2002-2007

Equity Strategies Help Everyone!

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We All Do Better When We All Do Better

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Human Capitol is a key driver of economic growth

U.S. GDP would be two to four percent higher if we had closed the achievement gap between black and Latino students and white students during the 1980s and 1990s (2009 McKinsey paper)

Moving from Planning to Implementation

• Implementation of strategies to build economic resilience are not successful without diverse stakeholder involvement and support.

Stakeholders• Advocates from all communities, especially those

traditionally not engaged• Private business/chambers• Economic development/workforce• Educational institutions• Elected Officials• Faith-based organizations• Philanthropy• Regional Equity Network

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How Prepared Is Piedmont?

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Demographics: Who lives in the region and how is this changing?

Economic Vitality: How is the region doing on measures of economic growth and well-being?

Readiness: How ready are the region’s residents for the 21st century economy?

Connectedness: Are the region’s residents and neighborhoods connected to one another and to the region’s assets and opportunities?

Examples of policies and strategies to consider: A. Multi modal transportation that connects to jobs and

opportunityB. Access to quality pre-k through high school educationC. Housing connects to transportation and that is

affordable at the pay scale of the regions jobsD. Industry and economic growth strategies that capitalize

on current assets like anchor institutionsE. Targeted workforce development programs in

partnership with Community College, workforce organizations and Chambers and that align with industry growth strategies

F. Target economic development to disinvested communities

j. Align current federal resources to follow agreed upon strategies 29

PolicyLink Tools

– Why Place and Race Matter Executive Summary & Report

– America’s Tomorrow “Equity is the Superior Growth Model” Summary and Report

– Houston-Galveston Regional Equity Profile

– Towards 2050 in Texas A report on Houston

– Getting Equity Advocacy Results (GEAR)

– Healthy Food, Healthy Communities report

– Big Ideas for Jobs 30

– Maps of Tomorrow: Equity in a Changing Nation

– Equitable Development & Advocating for Change Web Toolkits

– Community Mapping for Health Equity Advocacy

– Regional Equity – The Quest for Full Inclusion

31www.allinnation.org

Questions?

Sarita Turner, Senior Associatesarita@policylink.org

510-663-4387

www.policylink.org

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