Cincinnati Innovation District, Lightship
Foundation, Mortar, Cincinnati Center City Development Corp. and
Cincinnati Regional Chamber cited as leading the way
CINCINNATI, April 7, 2022 /PRNewswire/ -- Cincinnati was nationally recognized today in
a report published by the Brookings Institution for its efforts to
advance inclusive economic growth.
The new study, Institutionalizing inclusive growth: Rewiring
systems to rebuild local economies, was designed to understand
public, private, and civic efforts to build inclusive local
economies in Heartland cities. These efforts are called "systems
rewiring" because they create new connections (i.e., wires) between
organizations—and between organizations and the communities they
support—to more systematically generate inclusive growth. In
addition to Cincinnati, the
authors of Brookings Metro's new report also studied Akron, OH, Birmingham, AL, St.
Paul, MN and Syracuse NY,
arguing that "older industrial cities are critical—yet
overlooked—bellwethers for the nation's economic prosperity and
social stability."
In Cincinnati, Brookings Metro
profiled a range of organizations working to catalyze quality job
growth and business creation, invest in inclusive talent
development, and support connected, vibrant neighborhoods. Examples
include: the University of Cincinnati's
major investments in inclusive innovation and entrepreneurship via
the Cincinnati Innovation District (CID); investment in
underrepresented entrepreneurs operating promising tech-driven
companies through Lightship Foundation and Mortar; 3CDC, a
long-running effort to invest in downtown and the Over-the-Rhine neighborhood; and how a new
approach at the Cincinnati USA
Regional Chamber is improving job quality and talent through both
the Workforce Innovation Center and the Minority Business
Accelerator.
The University of Cincinnati powered
an entire innovation ecosystem by developing the CID – now the
model for the state. By building the place and connecting companies
to talent, the CID's interconnected platform for industry,
researchers and students has been integral in the rewiring of the
system through its own evolution.
"Universities are in a unique position to bring together
multiple constituents to solve challenges and seize opportunities
in new and unexpected ways," said University
of Cincinnati President Neville G.
Pinto. "Having a dedicated innovation district enables
us to do that; it's a space where these collisions can occur."
Adds David J. Adams, University of Cincinnati Chief Innovation Officer
and Executive Director, CID, "Place matters. The district itself is
living proof of how close proximity and access to industry and
innovation centers can improve the economic outlook and create new
jobs."
Lightship Foundation, a non-profit foundation focused on
providing tech entrepreneurs of color with meaningful guidance and
funding, brings minority business leaders and creatives from all
over the world to make Ohio the
place where ideas are born and can thrive in the long term.
"We couldn't have done this anywhere else," said Candice Matthews Brackeen, Founder and CEO of
Lightship Foundation. "Our partnership with the CID along with the
presence of organizations like Mortar and the Chamber's Minority
Business Accelerator are addressing the gap in resources for
founders of color. Lightship is proud to be at the forefront of
Cincinnati's inclusion focused
growth."
The Cincinnati Center City Development Corp. (3CDC), a private,
non-profit real estate developer whose mission and strategic focus
is to strengthen the core assets of downtown by revitalizing and
connecting Cincinnati's Central
Business District and Over-the-Rhine neighborhood, has played a
direct role in more than $1.6 billion
in development projects in these two neighborhoods. This investment
has yielded 198 buildings restored, 49 new buildings constructed,
17 acres of restored civic space, and two civic buildings restored,
among other accomplishments.
"3CDC's commitment to creating an inclusive local economy can be
seen through its work developing affordable and supportive housing,
working with minority- and woman-owned contractors on our
development projects, and filling our street-level commercial
spaces with minority- and woman-owned small businesses,"
Adam Gelter, Executive Vice
President of Real Estate for 3CDC, said. "We're fortunate to be
able to collaborate with so many great organizations in
Cincinnati to make these important
initiatives a reality."
The Cincinnati Regional Chamber has implemented effective
initiatives to advance inclusion, including Apprenti Cincinnati,
which encourages local businesses to adopt new pipelines for
untapped talent; the Workforce Innovation Center, which creates
tailored plans to help companies adopt inclusive and effective
practices; and the Minority Business Accelerator, which works to
grow, build, attract, and create minority-owned enterprises in the
region.
"Great things are happening here in the region, and the Minority
Business Accelerator looks forward to continuing to do its part to
advance the collective business and economic interest of the
community," said Darrin Redus, Chief
Executive Officer, Minority Business Accelerator. "While
there's much more work to be done to address ongoing economic
disparities in the region, I believe this report exemplifies our
strong foundation, great progress, and shared desire to create an
inclusive economy that works for all of its citizens."
Audrey Treasure, Executive
Director, Workforce Innovation Center, agrees. "This report
demonstrates that the Cincinnati
region is leading the way as a community dedicated to improving the
economy for all people. The Workforce Innovation Center continues
to help employers solve their most pressing talent issues with
inclusive practices that work for their business and support their
employees. The more employers adopt this approach, the more it puts
Cincinnati on the map as a hub for
inclusive capitalism."
Inclusive growth is a matter of civic and economic necessity and
collaboration among a variety of institutions with a shared purpose
is required to generate positive outcomes. "Every sector can
contribute to systems rewiring," argues Brookings Metro Fellow and
Director of Applied Research Joseph
Parilla. "Now, armed with a once-in-a-generation infusion of
federal dollars, local leaders can use this playbook to build the
institutional and systemic capacity to ensure their economies are
working for all."
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SOURCE Cincinnati Innovation District