Solid Gold Neighbor: Economic Development
by Jeremy Vickers, Associate Vice President, External Affairs
When you think of economic development, what comes to mind? Is it shiny buildings peppering the skies of metropolitan areas? Is it suburban sprawl with mini-malls and chain restaurants? When I think of economic development, two things come to mind.
First, I think about Main Streets across our country that were once thriving hubs of society, representing progress, independence, and American ideals. Perhaps that is the lover of all things Walt Disney and his dream of a “great big beautiful tomorrow” and communities that are both progressive and distinctly inclusive. What this represents to me is an urban hub, whether small or large, where entrepreneurs, educators, civic leaders, and families join together to love, serve, and benefit from their communities’ assets. This idea of entrepreneur as community leader is centric to my belief that economic development is most successful when an entrepreneur is the center of attention. This principle is why I most often view economic development through lens of entrepreneurial ecosystems and how we as members of a community support them. If entrepreneurs are successful in our city, so too will our city be successful. The reality is that most new jobs, much of the philanthropy, and often times a large portion of our goods and services come from entrepreneurs. Where did this love of entrepreneurs come from? Quite simply, I’m born of it. My father is a serial, small business entrepreneur while both of my uncles and grandfather are tradesmen-entrepreneurs as mechanics and tile masons. I grew up working odd jobs in these businesses, helping out on evenings, weekends, and summer holidays. What I saw from this was a fierce independence as well as a passion for community and family that inspired the love of entrepreneurship I possess today!
The truth is, however, that not all sides of economic development look like a Disney movie. In our community, like others across the country, we have parts of our town that have not received the benefits of economic and social progress at the individual or organizational level. These inequities are what drive me to seek change to ensure that all who strive are able to succeed. The other lens of economic development, in my mind, is that of financial empowerment. If our communities of color, who are most often disproportionately negatively affected by a lack of access to financial literacy and tools, may be empower to pursue their American dream and financial independence, then we are able see the full fruits of an economic development vision. Seeing financial empowerment lead to economic revitalization, while battling gentrification, is an important and beautiful picture of a truly thriving city!