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Economic Development

Economic Development

By Alejandra Guzmán

Click aqui para español- >El Desarrollo Económico

As we enter the new year, many of us will reflect on what personal goals we want to accomplish in the coming months. As we go through this process, thinking about what we could accomplish as a community will be extremely valuable because our individual success is tied to the overall success of our community. Economic development is a fundamental component of every community, and it matters because people matter. It promotes well-being, quality of life and opportunities to develop human potential.

Creating the right conditions for economic development is a complex task that requires the participation of various sectors within our community. It requires a deliberate, holistic approach that should be centered on people. This approach to economic development recognizes that participants work together within a system and interact with each other. Participants include businesses and other sources of employment, workforce, and infrastructure. Each works independently from the rest, though they are all a requirement for development. A holistic economic development will matter only to the extent that it touches and changes the lives of all citizens. Cities that lead in attracting financial and human capital are able to expand access to economic opportunity. However, it is also important to consider that development requires intentional action across multiple generations to allow change to happen in all neighborhoods.

Everyone should have an opportunity to thrive and to be successful. In order to create opportunity for all, leadership in all sectors must ask essential questions: How can cities yield more positive outcomes for all urban residents, small business owners, and long-term stakeholders? What can we do to catalyze and accelerate more growth in the lower income and/or higher crime neighborhoods? How do we ensure that all members of our communities are involved in these discussions, so we can create more inclusive economic opportunities?

Although New Orleans is no stranger to the spirit of continual re-invention that animates American cities, the city’s leaders must continue to seek answers to the hard questions and take action to remain on a trajectory of equity and growth.

A great way to get involved in economic development is through the New Orleans Business Alliance Ambassadors Program. This program provides an in-depth insight into the work of growing and diversifying the city’s economy. For seven weeks, participants connect with industry experts and business leaders across all facets of economic landscape in New Orleans. This program can serve as inspiration on what can be done at the individual and community levels to support the economic development of our city.

Check out nolaba.org for additional details on this program and the application process.

Consider economic development as one of your 2020 goals!

Alejandra Guzman

Writer/Escritora 

Economic Development/Desarrollo Economico

@aleguzman

Mexico

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