Lessons from resurgent cities

Yolanda Kodrzycki and Ana Patricia Munoz

Annual Report, 2009, 9-31

Abstract: In 2008, the Federal Reserve Bank of Boston began a project to help reinvigorate the city of Springfield, Massachusetts. This cross-departmental initiative uses the Boston Fed's research and convening capabilities to complement the efforts of other organizations dedicated to improving economic and social conditions in New England's fourth-largest city. As noted in an earlier joint Federal Reserve-Brookings Institution study, Springfield has one of the highest rates of concentrated poverty in the country: one-third of the city's poor live in neighborhoods where poverty rates exceed 40 percent. Thus, a particular focus of the Boston Fed project has been to support revitalization strategies that would enable more city residents, particularly those located in poor areas, to prosper. While the Boston Fed project focuses on the city of Springfield, we hope to devise approaches that can be replicated in other struggling mid-sized cites around New England and the nation. To this end, this essay reports on lessons learned from our research on older industrial cities that have adapted relatively well to economic challenges, and are recognized as vital communities today. We believe these \\"resurgent cities\\" provide relevant, inspiring insights on development strategies for urban America.

Keywords: Economic policy - Massachusetts; Economic policy; Cities and towns; Economic conditions - Massachusetts; Cities and towns - Massachusetts; Economic conditions (search for similar items in EconPapers)
Date: 2009
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