How can philanthropy help build more inclusive economies?
Despite the recent economic growth in the United States, many Americans have been left behind in a increasingly global economy. Their region may have few job opportunities, high poverty rates, a lack of economic investment, or an unequal distribution of prosperity. Yet this challenge is an opportunity for philanthropy to improve the lives of many by investing in equitable, innovative, and sustainable economic growth throughout the country.
Philanthropy can help bridge the gap between a community’s need for growth and the people who can and want to drive that growth, but need support to do so. Foundations are able to invest in sustainable and equitable development, using innovative strategies and capitalizing on their unique role as a convener, grantmaker, and endowment builder to support workforce development, establish diverse financial tools, and encourage an inclusive entrepreneurship culture.
What is the Council doing to support inclusive economic prosperity?
Working with national experts, we provide resources about relevant regional economic trends, as well as new tools and strategies for effectively investing in community development. Through the development of white papers, webinars, and in-person events, we help foundations explore how they best support inclusive economic prosperity.
Dig Deeper with Opportunity Zones
Created by changes to the tax code in the Tax Cuts and Jobs Act in December 2017, Opporunity Zones are state-nominated, economically depressed communities that are in need of new investment. These investments could, under certain circumstances, be eligable for preferential tax treatment in an effort to help spur economic development.