Economy

A broad category of content focused on economic-related topics in cities.

Examples: jobs, finance, public-private partnerships, business management, inequality/poverty, budgeting, micro/macroeconomics

How Urban Industry Can Contribute Green Solutions for COVID-Related Health Disparities

The best nature-based solutions on urban industrial lands are those that are part of a corporate citizenship or conservation strategy like DTE’s or Phillips66. By integrating efforts such as tree plantings, restorations, or pollinator gardens into a larger strategy, companies begin to mainstream biodiversity into their operations. When they crosswalk the effort to other CSR goals like employee engagement, community relations, and/or workforce development, like the CommuniTree initiative, the projects become more resilient.

Air quality in urban residential communities near industrial facilities will not be improved by nature alone. But nature can contribute to the solution, and while doing so, bring benefits including recreation, education, and an increased sense of community pride. As one tool to combat disparate societal outcomes, nature is accessible, affordable and has few, if any, downsides.

3 Ways Communities Can Bond with Residents in the Age of Covid & Beyond

There is a risk of further widening the gap between so-called ‘knowledge workers’ able to do their jobs remotely and afford to move, and those with place-based employment who cannot. Beyond that, retreating residents might take the very identity and uniqueness of the places they abandon with them.

Nurturing the community-resident bond could be an antidote to these dismaying departures, and new research sheds light on how. A recent report by the Urban Institute and commissioned by the Knight Foundation surveyed 11,000 residents of 26 U.S. metro areas to uncover what amenities created a “sense of attachment and connection to their city or community.” Three key recommendations emerged in Smart Cities Dive’s synopsis of the results.

COVID-19 Pandemic Highlighting the Essential Need for Playgrounds

Since our founding over 24 years ago, KABOOM! has worked hand-in-hand with communities to build incredible, kid-designed playspaces that help give kids in every zip code the opportunity to thrive. Right now, we’re in a scenario we never could have imagined: supporting public health recommendations that playgrounds remain closed.

The challenge of COVID-19 is tremendous, but it also presents an opportunity for the nation to rally around an urgent need: investing in the infrastructure of childhood. We believe that through deep partnerships with communities and a range of public, private, and philanthropic partners, we can achieve what we call playspace equity. Simply put, this means a world in which every kid has access to quality playspaces regardless of factors like race, ethnicity, income, or zip code.

Fighting COVID-19: How Gamification Can Reenergize Local Government and Help Save Small Businesses

The first COVID-19 related campaign that was designed to encourage local consumption was called “The Local Shoppers Challenge.” This one campaign generated $145,000 in local economic activity within just two weeks, at a time when COVID-19 was shutting down the economy. Colu launched this campaign in partnership with the Tel Aviv Foundation, which works to help disadvantaged communities in the city. The campaign features a digital punch card; when the card is used four times at local businesses for a transaction of at least NIS 20 (~US $6) each, residents are granted a one-time reward of 35 Tel Aviv coins (~US $10). This award is only offered to residents that complete the entire challenge (four qualifying transactions).

Planning for Arts and Culture in San Diego

The role of government, and the planning community, is perhaps to facilitate these kinds of partnerships and make it easier for serendipity to occur. While many cities mandate a portion of the development budget toward art, this will not necessarily result in an ongoing benefit to the arts community as in most cases the budget is used for public art projects versus creating opportunities for cultural programming.  

Rather than relying solely on this mandate, planners might want to consider educating developers with examples and case studies about the myriad ways that artists can participate in the development process. Likewise, outreach and education for the arts community about what role they can play in projects may stimulate a dialogue that can yield great results. In this sense, the planning community can be an invaluable translator in helping all parties to discover a richer, more inspiring, common language.

The Blueprint for Community Business Success

There is a lot that a city leader can do just by being a vocal champion for entrepreneurship. Mayors uniquely understand their communities’ assets and are therefore in a position to communicate and advocate on behalf of the city’s entrepreneurs. Engaging entrepreneurs and regulators in focus groups, appointing a special city official or liaison to entrepreneurship, and requiring city departments to review procurement and contracting, are all cost-effective tools that mayors have at their disposal to reduce the barriers for entrepreneurs.

Insurance Companies in the New Mobility Service Market

MaaS can create new channels and business opportunities for insurance companies. In the future, the main revenue stream of mobility insurance is expected to be fleet insurance, end-user related insurance (for on-road accidents, property loss and damage, third party and liability, trip cancellation, and delays), and insurance for the workforce. In order to unleash this new potential, the first step is to gain understanding of which products are already covered within the new mobility ecosystem, and which are not. MaaS Alliance is currently working on a gaps analysis to establish a clear picture of what elements in the new mobility ecosystem are covered by existing mandatory or additional insurance schemes.

Complex Climate Problems Call for Multi-Sector Solutions

It is increasingly clear that climate resilience cannot, and should not, be divorced from economic resilience. The siloed sectors that have worked to solve environmental problems in the past will not be enough to tackle our existential climate change challenges, which are intertwined with our racial and economic inequality. In Seattle, the team is supporting the development of a community-governed entity that will direct and leverage public, philanthropic, and private investments to create climate justice and economic opportunity while mitigating displacement. They are already advancing a pipeline of projects, including parks, housing, and neighborhood facilities, that will serve as a proof of concept for following a different process that centers community priorities. 

How Micro-Securitizations Can Bridge the Clean Tech Funding Gap

In their efforts to protect consumers from higher capital costs, utilities have racked up more and more debt and weakened their credit. Storms, wildfires, record heat waves, and cold fronts are pushing our electricity grids to the limit. The general public is demanding a wholesale shift to zero carbon energy to stop climate change. Meanwhile, new technologies are starting to erode the utilities’ traditional monopolies.

Fortunately, there is a tool that has been able to help reduce risks while providing capital at scale: securitization. Around since the 1970’s, securitization raises capital at scale by aggregating large numbers of similar assets together and creating liquidity for potential investors.

How Circular Economies Will Drive a New Urban Metabolism

In a circular city, “reduce-reuse-recycle” will replace “take-make-dispose”. Urban mobility will be carbon-neutral, relying on low- to zero-emission vehicles within a broader energy network powered by renewables. Cities and businesses will also generate savings from using recycled building materials and turning waste into fuel to power buses. 
In other words, circular cities will blend ancient approaches with modern technologies. But how will they do it, and where will the money come from?

How Green Banks Help Cities Transition to Clean Energy

The track record of state and local Green Banks in the U.S. shows how these financial institutions can move projects forward in cities. For example, consider a success story from the New York City Energy Efficiency Corporation (NYCEEC). A property management company that wanted to make improvements to six of its multifamily properties. Incentives from the local utility would cover part of the cost, but significant gaps remained, and the developer needed an affordable loan. NYCEEC provided a $1.3 million loan, which is due to be repaid within six years. The improvements will reduce greenhouse gases in an amount equivalent to removing 3,200 vehicles from the road, and will also reduce the emission of fine particulates which damage city residents’ health.

Glasgow’s 5 Key Takeaways on Innovative Procurement

Innovative procurement is a much more flexible and open process compared to traditional procurement. Instead of buying a specific product or service the local authority is given an opportunity to discover new approaches. It’s allowing them to have a greater influence on products and find solutions that are catered to solving particular challenges, but will it replace traditional procurement? Bax & Company is engaging with cities to hear their perspectives on innovative procurement in order to help them better manage this promising, but uncertain, process. They spoke to James Arnott, the Principal Officer in Development & Regeneration Services of Glasgow City Council (GCC) to hear about Glasgow’s experience.

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