By OECD. Published by : OECD Publishing
ISBN-10: 9264017313
ISBN-13: 9789264017313
This ebook offers a 'toolbox' of tools for entrepreneurship improvement in what usually seem to be the main adverse environments for fiscal improvement in our towns, displaying how entrepreneurship can certainly prosper given the perfect stimulus.&nb
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Extra info for Local Economic and Employment Development Entrepreneurship: A Catalyst for Urban Regeneration (Local Economic and Employment Development)
Example text
The entire burden of distressed area revitalisation must not fall on the government, foundations, and financial intermediaries. Expanding the use and availability of the New Markets Tax Credit would continue to attract more private investment capital from traditional and non-traditional sources. Lack of debt and equity funding prevents new firm creation and growth, one of the main sources of new investment in distressed neighbourhoods. Without that investment, how are these neighbourhoods going to climb back to economic health.
The 504 programme cannot be used for working capital or inventory, consolidating or repaying debt, or refinancing. The CDC San Diego works with more than 50 bank funding partners throughout its region to share the risk of real estate investments in distressed areas. Ninety percent of the financing produced by CDC San Diego is fixed rate financing. It is able to pre-select most borrowers through an online interactive application process in under 72 hours. This turn around time is significantly faster than most traditional financial institutions.
4 billion retail spending power. Moreover, they identified that 15% of Milwaukee’s workforce was underemployed based on skill level. Most significant was the analysis of Milwaukee’s inner city economy. Four industry clusters were selected as a starting point for their work: health services, construction & development, business process service centres, and manufacturing retention and renewal. Additionally, the consultants decided to address two cross-cutting business environment issues: workforce development and entrepreneurship.