Thesis
Strategies to effect change in the minority owned business ecosystem using opportunity zones as a framework for impact investing in marginalized communities
Master of Science (M.S.), Drexel University
Jun 2020
DOI:
https://doi.org/10.17918/00001090
Abstract
This research is meant to determine marginalized communities within Opportunity Zones can be developed into thriving, economically stable communities through initiatives and incentives that create, promote and support minority entrepreneurs within the community itself. By supporting minority owned businesses, it may be possible to achieve multigenerational family wealth and the growth and wealth of the broader community. The research methodology employed includes applied research conducted through numerous sources and include government websites, research papers, professional journals, literature reviews, white papers, journals, organizational websites, prior academic research, and research conducted by multiple foundations; qualitative research was accomplished through interviewing more than 25 key stakeholders across multiple industry sectors; and quantitative analysis from the U.S. Census Bureau as well as local data site, Open Data Philly, the Pew Charitable Trust and other verified sources to report on demographics and household data identifying low-income communities. Economic development in low-income neighborhoods has been challenging to fund. Long-term institutional disinvestment has created communities with high rates of poverty and unemployment stemming from policies based on discrimination from decades ago. Systemic racism, and all its economic and social implications, has created urban neighborhoods that continue a cycle of poverty and reliance on subsidies and assistance. Strategies to effect change in this ecosystem are part of a very complex set of social and economic issues. These distressed neighborhoods are predominantly minority populations with high unemployment rates and low educational opportunities. These factors create barriers to accessing higher wage-earning jobs and restrict community members to low skill, low barrier to entry positions in service and hospitality industries. Defining these strategies to create a fundamental shift in the existing ecosystem is the first step in a process that has gained national attention and become part of both the political and social discourse around the country. It is the responsibility of our local representatives and community members to create a synergistic environment where economic development and innovative inclusion pave the way to prosperity for all.
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Details
- Title
- Strategies to effect change in the minority owned business ecosystem using opportunity zones as a framework for impact investing in marginalized communities
- Creators
- S. Denise Kelly
- Contributors
- Andrew Zitcer (Advisor)
- Awarding Institution
- Drexel University
- Degree Awarded
- Master of Science (M.S.)
- Publisher
- Drexel University; Philadelphia, Pennsylvania
- Number of pages
- vi, 73 pages
- Resource Type
- Thesis
- Language
- English
- Academic Unit
- Urban Strategy; Architecture, Design, and Urbanism; Drexel University; Antoinette Westphal College of Media Arts and Design
- Other Identifier
- 991014695234304721