Reasons for Hope, at a Moment of High Anxiety for So Many.
Amidst much existential anxiety about the prospects for our economy and democracy, two recent trends and developments offer tangible progress and hope. If these two strands can be brought together by communities and states, they can advance – place-by-place – a healthy and inclusive economy, vibrant careers, and tangible economic progress and optimism that can fuel democracy.
This post describes these two hopeful trends – and offers some lessons learned from America Achieves’ recent work with many of these communities.
The first trend is a type of inclusive economic development and change that is place-based and is focused on innovation and good jobs. To make it happen, innovation-driven local coalitions across the country are bringing together job-creating businesses and industry partnerships, universities, public schools, local and state government, and community partners. These coalitions are developing promising sectors of their local economies by adapting to technological change, building on local assets, and demonstrating how strategies for competitiveness and equity are inextricably linked (I wrote more about this in early August, in my introductory post for the blog).
These regionally led efforts are not our grandparents’ approach to economic development; instead they represent the future. Local enthusiasm and ingenuity for this work generated over 1,000 applications for the $1 billion Build Back Better Regional Challenge (BBBRC) and the $500 million Good Jobs Challenge – which were enacted last year and administered by the U.S. Department of Commerce and its Economic Development Administration (EDA). Sixty Round 1 finalists were selected for the Build Back Better Challenge from 529 applications across all 50 states and 5 territories – all focused on this inclusive economic growth strategy. Soon, the EDA will award 20 to 30 finalists implementation grants ranging from $25 to $100 million. And earlier this month, U.S. Secretary of Commerce Gina Raimondo announced 32 winners for the Good Jobs Challenge, a leading edge, jobs-driven workforce strategy to support a healthy economy. I am heartened because this promising approach is also reflected by many of the more than 500 organizations applying for the National Science Foundation’s new Regional Innovation Engines program.
Many of these communities will serve as proof points of success and the nucleus of a growing network of coalitions building their futures.
The second trend that gives me hope for a vibrant and inclusive economic future is recent bipartisan legislation and larger funding that can be used by states and communities as building blocks for a good jobs economy. This includes the Bipartisan Infrastructure Bill enacted last year putting our people to work building roads and bridges, crucial access to broadband, and energy infrastructure. The bipartisan CHIPS and Science Act was signed into law last week. It backs semiconductor research and manufacturing, supporting regional innovation and recovery. The Inflation Reduction Act was signed into law this week and will fund improving energy security and combating climate change while creating good jobs manufacturing solar panels, wind turbines, energy-efficient homes, and electric vehicles.
States and communities will help determine if these larger programs are administered as separate and distinct government programs or deployed in a coordinated and intentional way. Where done right, state and local leaders can use these funds to support a local vision and coalitions building a healthy, sustainable, good jobs economy – and ensuring pathways to these good jobs for local residents.
The time is now for policymakers and practitioners to bring these two hopeful trends together.
At America Achieves, we are supporting communities and regions across our nation reimagining their local economies. What can these coalitions teach us about the conditions and elements essential for state and local leaders doing this well? What insights can we garner from the BBBRC opportunity that are relevant for maximizing the impact of these large federal funding streams? And how might peoples’ lives, and their optimism about the future for themselves, their families and our nation, be impacted by the combination of place-based economic development, supported by the new federal funding available to states and communities?
In my introductory post for “Catalyze: A Blog about Good Jobs, Opportunity and Hope,” I told you how inspired my America Achieves colleagues and I are by the 60 regional finalists in the Build Back Better Regional Challenge. Some regions are developing innovative approaches to advanced manufacturing - including bio-tech, automated cars and aircraft, and semiconductors. Some are adapting the use of natural resources like timber and ocean currents to create or revitalize economic sectors that are rooted in local assets. They’re redefining what’s possible when representatives from indigenous communities, as well as from communities that have seldom been “at the table,” are making key decisions that will inform the near-term economic outlook, career opportunities, and pathways to prosperity for our next generation of workers.
In their plans, these regions addressed eight priorities – and specific questions within each. The questions, as well as the responses, were integral to unlocking the power and potential of each proposal. I would also argue that the priorities and framing questions are highly relevant for others seeking to do this work effectively:
1. Competitiveness and impact of a defined economic cluster: How compelling is the argument for why this is a realistic, competitive economic cluster to drive transformational economic growth, innovation and impact?
2. Strategic coherence and project alignment (pointing toward a “North Star”): How essential, coherent, and aligned is the proposed strategy – and each project – to build the planned economic cluster?
3. Measurable goals and effective use of data.: How strong and measurable are the goals? To what extent is data collected and used to drive improvement and course-corrections to advance success and meet real-world demand
4. Equity: How effectively is equity built into measurable goals and outcomes, commitments, and the process by which information gets shared and decisions get considered?
5. Governance and leadership advancing collective action: How well does the governance strategy support effective collective action aligned to shared goals? How does this address roles, responsibilities, decision making, and long-term commitments from coalition members?
6. Financial strategy and feasibility: How compelling and specific are the budget, staffing plan, and financial strategy - including private, public, and philanthropic financing?
7. Workforce & human capital: Are there strong systems, intermediaries, outreach, industry partnerships and processes to ensure in-demand jobs are accessible, attainable, and provide upwardly mobile opportunities for targeted communities?
8. Storytelling: How compellingly do finalists tell the story of their region’s opportunities and challenges? Do they incorporate the major themes above into their story and share it in a way that creates an emotional appeal, both internally and externally?
By addressing these questions, the finalists have created pragmatic plans for innovation, good jobs, and tangible progress in a changing technological and economic environment.
For communities and regions considering trying or supporting this type of approach, and capitalizing on these two hopeful trends, the examples set by the finalists in the BBBRC offer some practical examples and insights to not only guide your work – but to provide us all with a glimpse of our nation’s economic future that is infused with hope, promise and vitality.
Chief Executive Officer of America Achieves.
