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New Research Report on Revitalizing Disinvested Neighborhoods
In the last few years, income inequality has soared, and poverty has become more concentrated not just in inner cities, but suburban areas as well, creating distressed neighborhoods lacking any kind of investment. These neighborhoods are characterized by high levels of crime, lack of resources, poor educational institutions and dilapidated infrastructure.
IEDC’s recently released research report entitled “ Revitalizing Neighborhoods, Empowering Residents: Economic Development in Disinvested Communities,” offers an in-depth review of the best strategies for combating concentrated poverty.
The report contends that there are dozens of reasons for this cycle of poverty, both historical and current, and that economic developers must take action to reverse and prevent the trend.
Several strategies are addressed in the report that can be combined to successfully attract investment to impoverished areas, including improving physical locations to promote socioeconomic equality , and combating displacement to create economic growth throughout the community, while keeping current community members in the neighborhood.
According to the report, the improvement of these disinvested areas will not only improve the livelihoods of low-income community members, but benefit all residents as a whole by promoting economic well-being. With the correct approach, crossing barriers to investment in marginalized neighborhoods will de-concentrate poverty without displacing residents as a result of gentrification.
The report is available online in the IEDC bookstore for $40.00 for non-members and free to IEDC members.