Infrastructure investments alone can't revitalize neighborhoods; they must be paired with funding for housing, local businesses, and commercial corridors, supported by public-private partnerships for comprehensive regeneration.

Erie, Pennsylvania, has developed a strategic Playbook with 35 projects focused on revitalizing the city, prioritizing equity by supporting minority-owned businesses and homeowners. These projects aim to drive inclusive growth by leveraging federal resources and local assets for community revitalization.

Supply Chain Finance (SCF) is an innovative financial tool that enhances cash flow across supply chains by leveraging contracts for goods and services to provide capital to businesses. Unlike traditional asset-based lending, SCF focuses on the creditworthiness of buyers—often large corporations or governments—thereby enabling underserved entrepreneurs to access capital without relying on personal assets.

This approach has been underutilized in the U.S. market, despite its potential to support diverse-led businesses and foster inclusive economic growth.

As the United States emerges from the COVID-19 pandemic, it is becoming increasingly clear that cities are entering a period of deep economic uncertainty and adjustment.

This paper is deeper discussion about more ambitious interventions that cities must design and deliver to spark an inclusive long-term recovery, particularly absent the arrival of federal funding for structural investments in housing, childcare, or higher education.

The Procurement Economy can grow Black- and Latino-owned businesses and reduce wealth gaps, but bureaucratic barriers and limited capital access hinder progress. Simplifying processes, fostering diversity, and investing in ecosystems can unlock its full potential for inclusive growth.

Investor purchases of single-family homes limit affordable housing, worsen racial wealth gaps, and harm Black and Latino communities. Urgent action and innovative solutions are needed to preserve homeownership opportunities and build community wealth.

U.S. cities are leveraging federal infrastructure investments to drive revitalization, strengthen supply chains, promote equity, advance sustainability, and boost innovation.

The U.S. is investing heavily in EV adoption, but charging infrastructure gaps remain a key challenge. Coordinated city, state, and private efforts, inspired by European models, are crucial to building an equitable and reliable network. Early leaders like Michigan and Columbus showcase how strategic planning can maximize federal funding.

Cities must adapt to a “New Disorder” driven by economic shifts, technology, and geopolitics. U.S. leaders are responding with investment strategies, new financial tools, and innovation to stay competitive.

This municipal action guide provides a practical framework for understanding and supporting inclusive entrepreneurship, including specific examples and steps city leaders can take to improve racial and social equity, expand economic opportunity and participation, and build dynamic and resilient local economies.

The Small Business Administration (SBA) and federal government have made strides in promoting equity in procurement for minority-owned businesses, including setting a goal to increase spending with Small Disadvantaged Businesses (SDBs) by 50%. However, more is needed to diversify sectors and support growth in these businesses.

Following the $1.9 trillion American Rescue Plan, the Nowak Lab and New Localism Associates created an "Investment Playbook" tool to help cities strategically allocate federal funds. The tool helps cities identify key recovery projects and ensure investments align with local priorities. Examples from Buffalo, El Paso, Dayton, West Philadelphia, and Pittsburgh show how communities are using the Playbook to guide revitalization and economic growth.

The Build Back Better Regional Challenge (BBBRC) aims to boost U.S. competitiveness by funding regional industry clusters. Over the past months, we've worked with participants to refine strategies around labor supply, infrastructure, R&D, sustainability, and equity. The BBBRC highlights economic disruption and the rise of new innovation hubs across the country.

Commercial corridors are essential to local economies, but have struggled due to shifts in the economy and the COVID-19 pandemic. A proposal suggests using American Rescue Plan funds to create a Commercial Corridor Revitalization Grant Program. This program would support planning and capital investments in these areas, helping them recover, foster local partnerships, and boost minority- and women-owned businesses, ensuring long-term growth and vitality.

Federal investments require collaboration among public, private, and civic networks to drive effective economic development and infrastructure projects. Examples like Northeast Ohio and Central Indiana show the power of coordinated efforts. Federal support should prioritize networked governance to ensure lasting growth and impact.

The $1.2 trillion Infrastructure Investment & Jobs Act faces implementation challenges due to local capacity gaps. Many cities lack the resources and expertise to effectively design and execute projects. To address this, local governments, philanthropies, and state agencies must assess capacity needs and invest in building the skills required to ensure efficient and inclusive project delivery.

Charles de Gaulle’s 1930s critique of France’s outdated military strategy highlights a parallel concern for the U.S. today. With massive infrastructure investments underway, there’s a risk of focusing too heavily on traditional projects while neglecting innovation and regional competitiveness. As the country faces democratic challenges, local collaboration could be key to ensuring these investments drive long-term prosperity and progress.

2022 offers a unique chance for inclusive entrepreneurship, fueled by federal investments like the State Small Business Credit Initiative and the Infrastructure Investment & Jobs Act. These funds target minority and women-owned businesses, promoting equitable local economies. The Nowak Metro Finance Lab, The Enterprise Center, and the National League of Cities developed a "Roadmap for Inclusive Entrepreneurship" to guide city leaders.

The Infrastructure Investment and Jobs Act (IIJA), signed into law on November 15, 2021, marks a historic $1.2 trillion investment in modernizing America’s infrastructure. While its passage was a significant achievement, the real challenge lies in implementation.