THE OPPORTUNITY

The Great Recession of 2008-2009 was the sharpest downturn in economic activity since the Great Depression. While many parts of the country have since recovered, the gap between the richest and poorest American communities has widened since the Great Recession ended. America is suffering from deepening geographic inequality linked to economic inequality – distressed areas are faring worse as the most prosperous areas have enjoyed tremendous growth. As gains continue to consolidate in the largest and most dynamic counties, other areas are left behind, searching for their place in the new economy. We must find a new toolkit for ensuring broad access to opportunity and helping both people and places realize their economic potential.

THE PROJECT

The Economic Innovation Group’s (EIG) mission is to advance solutions that empower entrepreneurs and investors to forge a more dynamic economy throughout America. EIG is a bipartisan public policy organization, founded in 2013, combining innovative research and data-driven advocacy to address America’s most pressing economic challenges. From its headquarters in the nation’s capital, EIG convenes leading experts from the public and private sectors, develops original research, and works to advance creative policy proposals that will bring new jobs, investment, and economic growth to U.S. communities.

Through a grant to New Venture Fund, the Parker Foundation supports the charitable portion of EIG’s work. EIG is a leading voice in bringing geographic inequality into the national conversation, analyzing the impact of the decline in entrepreneurship and economic dynamism, and exploring the future of the economy. Most recently, EIG spearheaded the Opportunity Zones initiative, which are a new community development program established by Congress in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in low-income urban and rural communities nationwide.