New Strategies for Inner-City Economic Development

Abstract

Revitalizing America's inner cities requires an economic strategy to build viable businesses that can provide sorely needed, nearby employment opportunities. Economic development in inner cities will come only from recognizing the potential advantages of an inner-city location and building on the base of existing companies, while dealing frontally with the present disadvantages of inner cities as business locations. The economic potential in inner cities has been largely unrecognized and untapped. The private sector, which must play a central role in inner-city economic development, is just beginning to recognize this potential and has already begun investing. By improving perceptions and tackling long-neglected problems in the inner-city business environment, this trend can be accelerated. Government and community-based organizations have continuing, vital roles, but their efforts must be refocused from direct intervention to preparing and training the inner-city workforce and creating a favorable environment for business.

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