Raton, a town once surrounded by eight coal mines, now has a main street of boarded-up buildings. There is reason for optimism as the town diversifies its local economy, betting on "a mix of small manufacturing businesses, health care and specialty services, and hospitality for travelers" to endure the sudden decline in mining revenue. Its calculated revitalization may hold lessons for other towns.
Read MoreAn increasingly popular way to attract foreign direct investment is to let the world’s wealthiest trade cash and property investments for citizenship. The $2 billion-a-year industry allows the ultra-rich to buy passports that permit visa-free travel to nearly the entire world, often with no residency requirements. Highly controversial, the industry is marked by a lack of transparency and concerns about what happens to civic ties when citizenship can be bought and sold.
Read MoreSince the 2017 Tax Cuts and Jobs Act passed, investors, community leaders, and local governments have been talking about Opportunity Zones. These are low-income areas in each state--Alabama has 150--that will incentivize investor spending by providing tax breaks for longer-term investment in areas typically not on the highest priority list for traditional investors. Montgomery, Alabama is seeking input from local groups on where funding can best be spent. Though the opportunity zones legislation is in its early days, many are excited about the potential to stimulate economic growth.
Read MoreOver two million baby boomers own their own companies, and with retirement looming, the government stepped in with a solution. A portion of a 2018 federal bill included language that will push the Small Business Administration to help baby boomers transition ownership of their companies to their employees if they wish. This will mitigate job loss often associated with a retiring business owner putting the company up for sale. Employee owners on average make a higher salary and have higher job stability, supporting the idea that employee ownership is beneficial for everyone involved, as well as for the econom
Read MoreIn small town Nelson County, several economic development initiatives are working to put the region on the map. By promoting cideries, business owners can source apples from local farmers. Breweries, festivals, and hiking have all enticed out of town visitors. The focus on growing the economy while still keeping dollars local has helped the region grow in a sustainable way.
Read MoreThe Cooperation Group is a Detroit-based nonprofit that consults for worker-owned cooperatives. They also give advice to organizations even if they think a cooperative is not the best model, as they did with the nonprofit Soulardarity. Either way, they want what is best for the business and the people who work there. The Cooperation Group has mobilized a lot of support in Detroit for cooperatives, including foundations and local government.
Read MoreDespite being the birthplace of the Industrial Revolution, the UK passed the Climate Change Act in 2008, a move that reduced coal-fired electricity generation by 33 percent in only five years. The UK's carbon tax helped spur the phasing out of coal, but the political and economic conditions that enabled it are by no means universal.
Read MoreEurope's generous social policies, such as allowing employees to retain their salaries while taking sick time to care for themselves or family members, may help to mitigate the coronavirus outbreak while also safeguarding the economy. Although the long-term impacts are yet unknown, in the short term, government-provided incentives are helping people and businesses stay afloat.
Read MoreAfter an initial shock to business-as-usual, some independent booksellers are trying new methods to get their products in the hands of readers. Home deliveries, online sales, and fundraising efforts are keeping some longstanding institutions afloat, at least for now.
Read MoreEste reportaje cuenta y explica la solución energética de Ticino, un pueblo de la provincia argentina de Córdoba. Quemando biomasa (cáscara de maní), la manicera de la localidad, que es también la empresa más grande del lugar, genera energía eléctrica que vende al Estado para abastecer al pueblo y a zonas vecinas. Esta solución beneficia a cientos de familias y permitió que durante el gran apagón nacional de 2019, Ticino continuara con luz.
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