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.

Navigating federal funding opportunities is challenging for localities. The new Infrastructure Funding Tracker, simplifies the process by providing concise updates on available funds from major federal packages, helping local leaders identify and access opportunities efficiently.

A National Housing Commission is needed to tackle the U.S. housing crisis, addressing rising homelessness, rent burdens, and racial inequities. The initiative seeks collaboration from financial institutions and philanthropies to develop policies that expand affordable housing and homeownership opportunities.

In order to better understand the impact of investor purchases on existing homebuyers, we have written “We Buy Houses”: You Lose Out. This report looks at the differences in price and geography between houses that sell on the Multiple Listing Service (MLS) and those that sell off the MLS, to investors and to individuals, in Philadelphia between January 2018 and June 2022.

The growing trend of large-scale real estate investors purchasing single-family homes has led to reduced housing affordability and increased market volatility. This practice, often driven by institutional investors, can displace local residents and limit homeownership opportunities, further exacerbating housing inequality and pushing up rent prices.

Addressing this issue requires policy changes to prioritize affordable housing and curb the unchecked expansion of corporate real estate holdings.

The Cincinnati Jobs Bond is a $100 million initiative aimed at revitalizing distressed industrial sites in the city. It focuses on acquiring, remediating, and preparing 150 acres of land for manufacturing and mixed-use development, helping Cincinnati participate in the national manufacturing resurgence.

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.

The State Small Business Credit Initiative (SSBCI) has been a key tool in supporting small businesses through funding provided under the American Rescue Plan Act. With nearly $10 billion allocated, the program focuses on leveraging private capital to assist small businesses through equity, credit support, and technical assistance.

SSBCI is helping drive local economic recovery and growth, but its long-term success depends on effectively matching public funding with private investment.

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.

The Innovative Finance Playbook, created by Blueprint Local, the Nowak Metro Finance Lab, and the U.S. Economic Development Administration, outlines strategies to expand access to capital for underserved entrepreneurs. It emphasizes creating tailored financial products and support systems to address gaps in traditional banking, fostering inclusive economic growth through innovative approaches to investment and resource allocation.

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.

Bruce Katz discusses the pandemic's negative impact on minority-led businesses and explains why the "New Normal" is a misleading concept. He shares insights on the future of diversity in the workforce and the importance of routines in business growth.

Public-public partnerships are essential to address fragmentation within U.S. cities' public sectors, as multiple entities with distinct governance structures and funding streams often work in silos. Enhanced collaboration among these entities is needed to effectively implement climate solutions and maximize the impact of federal investments.

The Nowak Metro Finance Lab and Reinvestment Fund have teamed up to analyze changing housing markets in three very different cities: Philadelphia, PA; Jacksonville, FL; and Richmond, VA. For decades, Reinvestment Fund has implemented their Market Value Analyses (MVA) in cities across the US to understand the diverse tapestry that is America’s local housing markets.

Investor purchases of single-family homes are rising in distressed U.S. neighborhoods, driven by supply-demand imbalances and targeted investment strategies. This trend, fueled by corporate landlords and institutional investors, is reshaping local housing markets and creating challenges for homeowners and renters.

The 2022 G7 Urban Ministers' meeting highlighted cities' role in achieving Sustainable Development Goals and addressing climate change, advocating for multilateral action and bottom-up approaches to tackle global challenges.

The U.S. housing shortage is exacerbated by investors focusing on high-return rental properties, limiting opportunities for homeownership and wealth-building, particularly for lower-income and younger individuals. Addressing these investment dynamics is key to creating more inclusive housing solutions.