St. Louis formed a public-private partnership during the pandemic to address immediate needs, leading to a 10-year jobs plan. By merging five organizations into Greater St. Louis, Inc., the city aims to unify efforts for economic growth and urban regeneration.

The National Defense Industrial Strategy (NDIS) focuses on modernizing the defense ecosystem with resilient supply chains, workforce readiness, flexible acquisition, and economic deterrence. Cities play a key role in this strategy, as they house military bases, manufacturing facilities, and innovation hubs, contributing to national security and economic growth through increased defense investments.

The U.S. industrial landscape is shifting with reshoring of manufacturing, driven by federal investments. Cities like Phoenix and Columbus are attracting new industries, and to thrive, metropolitan areas must foster collaboration between public, private, and civic sectors for sustained economic growth.

The unplanned growth of many U.S. cities has led to urban sprawl and economic inequality. As cities expand without comprehensive planning, the benefits of growth are unevenly distributed, worsening disparities and limiting access to resources. Addressing this requires better coordination between local governments, developers, and stakeholders to ensure sustainable and inclusive development.

Global forces like geopolitical tensions, climate change, and technological advances are reshaping cities and communities. Three books are recommended:Goliath by Matt Stoller, which critiques monopolistic power; Sideways by Josh O'Kane, which examines the failure of tech-driven urban transformation; and Going Places by Luise Noring, a dystopian novel about online communities sparking global conflict. 

Increased U.S. defense spending presents economic opportunities for cities with military assets, allowing them to create jobs, support local suppliers, revitalize business districts, and promote innovation, while local leaders must strategically position their cities to maximize these benefits.

Cities must adapt to a rapidly shifting global economic order driven by geopolitical tensions, technological changes, and major federal investments. These forces are reshaping supply chains, national security priorities, and economic policies, requiring local leaders to leverage opportunities and mitigate risks.

The post-pandemic period in the U.S. has seen a major resurgence in advanced manufacturing, driven by federal initiatives like the Inflation Reduction Act and CHIPS and Science Act. States like Ohio have attracted significant private investment, while Pennsylvania lags behind due to weaker coordination and incentives. To compete, Pennsylvania must leverage its industrial assets, maximize funding sources, and foster better collaboration between public and private sectors to attract investment and strengthen its economic position.

Recent development trends in neighborhood commercial corridors emphasize revitalizing underserved areas through investment in infrastructure and services. By leveraging public-private partnerships, these corridors aim to attract both funding and businesses, creating vibrant areas that improve economic access and social mobility.

Empowering UK cities requires leveraging local assets and fostering collaboration across public, corporate, and civic sectors. Drawing inspiration from U.S. cities' industrial transitions, UK cities can benefit from adapting to new economic conditions, such as reshoring and technological change.

The Cincinnati Jobs Bond is a $100 million initiative by the Port of Greater Cincinnati Development Authority to acquire, remediate, and prepare 150 acres of industrial land in targeted city areas, aiming to attract manufacturing and mixed-use development, thereby revitalizing the local economy.

The industrial transition offers opportunities for revitalizing older industrial cities in the U.S. By leveraging legacy assets and federal investments, these cities can attract advanced manufacturing, enhance infrastructure, and create workforce development hubs.

On June 2, 2023, Bruce Katz, Director of the Nowak Metro Finance Lab, presented to the US Conference of Mayors Metro Economies Standing Committee in Columbus, Ohio. This presentation was used to inform a roundtable discussion on the industrial transition, economic development, and downtown revitalization.

Cities must proactively manage the transition to a low-carbon economy by capitalizing on federal investments, advancing clean energy technologies, and strengthening workforce development initiatives. This transition presents opportunities to modernize infrastructure, attract new industries, and create quality jobs while addressing environmental challenges.

U.S. industrial policy offers key lessons for the UK in addressing regional inequalities. Federal investments in manufacturing and infrastructure help reduce disparities, while local collaboration enhances resource integration. Initiatives like the Build Back Better Regional Challenge demonstrate potential for fostering economic growth through regional competitive advantages.

Regional and metropolitan-scale solutions are essential for addressing issues like climate change and infrastructure challenges. Federal investments are encouraging regional collaboration, but fragmented funding across agencies complicates coordination.

In 2023, key trends include shifts in federal funding for cities, the growing role of state and local governments in economic development, ongoing affordable housing challenges, a focus on industrial transitions, and the increasing importance of place-based strategies in urban development.

Local leaders across sectors are increasingly relied upon to address critical challenges, demonstrating the power of collaboration in tackling issues like housing affordability, supply chain disruptions, and workforce development.

The 52nd Street Investment Playbook outlines a comprehensive strategy to revitalize West Philadelphia's 52nd Street Corridor by promoting local property and business ownership, supporting minority-owned enterprises, and attracting investments for over 30 projects estimated at $160 million.

Developed collaboratively by the Nowak Metro Finance Lab, The Enterprise Center (TEC), and the Philadelphia Equity Alliance (PEA), the Playbook emphasizes the importance of community wealth-building through targeted interventions in transformative real estate, business support, infrastructure, public realm enhancements, community development, and housing.

U.S. cities face challenges in utilizing federal climate investments, requiring cross-sector collaboration to maximize the impact of these funds, drawing on successful European models.