Growing income inequality and stagnating wages are issues faced by the world’s leading economies. Recent research by the Brookings Institute shows that knowledge economies (the 4th Industrial Revolution) will continue to exacerbate this gap. According to scholar and urbanist Richard Florida, inequality is a fundamental feature of cities.
To build more inclusive economies, cities are embracing community wealth building strategies, such as anchor institution agreements, to create jobs to assist in remedying the significant shifts in the new economy. According to three studies by the IMF, London School of Economics and University of California, economic inclusivity is the most significant indicator supporting innovation and long-term economic growth.
In an effort to create more local wealth, Cleveland created the Evergreen Cooperative Model in partnership with the Cleveland Foundation, Cleveland Clinic, Case Western Reserve University, and University Hospitals.
Learn more about their journey: