Anchored in hope: How Toronto is learning from Cleveland's return to prosperity

In Sarasota, Florida, residents invested in change contend that for the poor to move beyond survival mode and break a multi-generational cycle, they need a wraparound strategy, rather than one-off or isolated services. The community is slowly growing programs like the Gulf Coast Community Foundation, which helps to fund and support comprehensive programs that build sustainable change. This article explores solutions being pursued by the county from job training for adults to after school support for students.

A multi-millionaire has poured money into his home suburb of Irlam, buying up empty stores, funding public art projects, and supporting the town center, sports center, health clinic, and train station. Employment is up, but this model of urban renewal raises ethical questions and may not be easily replicable.

Many cities have the potential to prosper under the 2017 Tax Cuts and Jobs Act, which created “opportunity zones” to increase investment in “distressed” areas. To maximize the potential for local investment, the Richland County Community Development Group united key players to ensure census tracts in the county would be considered. Though the opportunity zone program is in its early stages, Richland County led all the preparation work for local cities to receive big business investment for years to come.

To combat the rapid decline in Cleveland's economy after the manufacturing collapse co-ops have stepped in. Co-ops help residents of poor neighborhoods find jobs, build stability and buy houses. They benefit other organizations by helping them to invest in the community.

Michigan's roads have been in disrepair for years. Now with increased private sector funding and partnerships between companies and the government, the state could start to see improvements in its infrastructure.

There is a substantial argument for increased involvement of private companies in venture philanthropy. Unlike large government bodies and NGOs, private companies are more nimble and experienced when it comes to strategies in marketing, R&D, creating pricing structures, and adapting to rapid social change. Three companies in India are seeing real results by serving India's poorest customers with a market-based approach.

Brown's Super Stores operates seven profitable supermarkets in traditionally food desert neighborhoods in Philadelphia. The founder says it's because they brought together a group of community leaders and asked them exactly what they were looking for in a neighborhood grocery store, and used the information to truly create a space for the broader community that often includes health care clinics, banking services, event space, and more.

As gentrification has flourished and Baby Boomers age out of the workforce, “legacy businesses” struggle to find a way to maintain a presence in communities of color. In response, a multi-city fellowship called Shared Equity in Economic Development (SEED) was developed to educate business owners on transferring ownership to the employees to ensure its future. Four cities—Philadelphia, Atlanta, Durham, and Miami— paired three city employees with one community member to work together over a two year period to leave the city with “clear plans, clear roles and good foundations for future business conversions."

An Oakland nonprofit incubator, The Runway Project, addresses racial and economic injustices in entrepreneurship by offering flexible loans for people of color and low-income individuals looking to start a business. Borrowers benefit from flexible loan terms and qualifications, both of which are usually barriers to entry for people of color in the business world.

Governments in the United Kingdom, the United States, and elsewhere use crowdfunded donations to restore historic areas and fund new developments. The approach can build democratic participation and community cohesion while plugging budgetary holes from falling tax revenue.