The COVID-19 crisis is severely impacting small businesses, especially those owned by people of color and in low-income areas. While federal relief programs like the PPP are helpful, they often overlook these businesses. A proposed $50 billion Main Street Emergency Act would provide additional support to these relief efforts, helping small businesses survive and recover.

The COVID-19 crisis has severely impacted small businesses, especially those owned by people of color in low-income areas. While the Paycheck Protection Program has provided some relief, it has not reached many underserved businesses. In response, local governments and alternative lenders have developed systems offering grants and loans to support the most vulnerable small businesses.

Local relief funds launched to support small businesses while awaiting federal aid, but distribution has been chaotic and many vulnerable businesses risk missing out. Strengthening local efforts, improving federal coordination, and expanding financial partnerships are crucial to mitigating economic damage.

The scale of the COVID-19 crisis has become better understood—akin to an economy-wide hurricane that leaves physical infrastructure intact—and the federal government has responded with $350 billion for small businesses in the CARES act.

The COVID-19 crisis has severely impacted small businesses, especially in downtown areas and commercial corridors. In cities like Erie, Pennsylvania, local businesses have been struggling to survive, with some reducing operations or laying off workers. Erie, which has worked hard to revive its downtown over the past decade, now faces the risk of losing much of the progress made.

An analysis of Erie's downtown during COVID-19 highlights the critical role of local networks in supporting small businesses and fostering community resilience during economic disruptions.

Small businesses, which employ half of Americans, face imminent collapse due to cash shortages and the economic shock of social distancing. Existing relief efforts are insufficient in scale, poorly designed for this crisis, and hindered by bureaucratic inefficiencies.

Immediate action is needed, including large-scale emergency funding, simplified loan programs, and local government interventions to sustain small businesses and prevent long-term economic devastation.

The discussion on billionaires in Democratic politics often centers on taxing wealth, but the focus should also include where private and public capital, particularly public pension funds, are invested. Emerging models, like Norway's Sovereign Wealth Fund, show the potential for more targeted, transparent investments.

Cincinnati’s Minority Business Accelerator (MBA) thrives through strong partnerships with corporate, philanthropic, and public sectors. It helps scale minority-owned businesses, addresses the succession crisis, and leverages support from major institutions like Procter & Gamble.

Pete Buttigieg’s rise in the 2020 presidential race showcases his intelligence, empathy, and experience as a mayor and his work revitalizing South Bend positions him to address urban and rural challenges. Buttigieg's focus on local solutions reflects a shift towards cities in national governance, offering a fresh approach to federal policy.

Recent shifts in institutional investment are increasingly focused on climate change, with cities like New York and London leading the charge to divest from fossil fuels and invest in sustainable assets.

The "Community Wealth" movement is focusing on people and local development rather than just infrastructure. Initiatives across cities are fostering business growth, skills development, and inclusive prosperity. To advance this in 2020, successful models need to be codified, and federal policies should be adjusted to support local innovation, helping transform distressed communities through wealth creation and reinvestment.

The West Philadelphia Skills Initiative (WPSI), created by the University City District, addresses unemployment by connecting residents to jobs with local employers. Since its 2011 launch, WPSI has placed 95% of graduates in full-time positions, significantly reducing turnover and enhancing community wealth. Its innovative approach focuses on tailored training, strong employer relationships, and flexible funding, serving as a replicable model for other cities.

Founded in 2012, the West Philadelphia Skills Initiative (WPSI) connects under-resourced residents with employers in sectors like healthcare and education. WPSI has successfully placed 530 graduates, with a 97% employment rate for 2019 graduates and significant wage increases. The program fosters diversity, reduces turnover, and contributes to regional economic growth. Key takeaways for other cities include focusing on in-demand jobs, partnering with anchor employers, and maintaining local partnerships.

The Dayton Arcade’s $90M redevelopment into a mixed-use hub highlights both its potential and the complex, inefficient financing needed for urban renewal. While expected to succeed, the project underscores the need for simpler, more effective investment systems to revitalize historic cities.

Cities are rethinking growth and finance to balance public investment and private wealth. Experts highlight the need for new models, like land value taxes, to ensure community benefits from rising property values.

Ensuring inclusive growth and community wealth in Opportunity Zones requires a data-driven approach that connects market potential with social impact. Key insights include leveraging geographical patterns to scale success, adopting place-based investment models, and prioritizing employment centers to maximize community benefit.