Government and Neighborhoods: Programs Promoting Community Development

Abstract

A transformed economy is the most critical issue facing communities of all sizes in many states, keenly affecting the quality of life in neighborhoods hit by the tangible effects of economic change—closed plants, lost jobs and reduced wages, and plummeting demand for local goods and services. Accordingly, promoting job creation and economic development activities has become a top priority for mayors and community leaders. This article looks at the components of the neighborhood economic development climate, and provides a snapshot analysis of the types of current public sector efforts to spur neighborhood development activities-such as development, financial assistance, and targeted development programs. It examines a number of federal and state policies and programs that have substantial impact on neighborhood-level economic development, and describes emerging public and private development tools being used in neighborhoods to stimulate new economic activity.