Photo: Submerge
Communities that are primarily dependent upon one large employer – whether it’s a military base, large factory or major corporation – are at risk, as evidenced by struggling Rust Belt communities.
Investing in local entrepreneurs and nourishing a diverse array of small businesses can help safeguard against changes in demand for products and services and can provide increased resiliency to changing workplace needs. Providing grants to incubate new business concepts (such as Sacramento’s “Calling All Dreamers Competition”), reduce costs (as with San Jose’s Storefronts Initiative), or reduce barriers such as parking requirements can encourage local businesses and help diversify the local economy.
See the November 2013 Livable Places Update for more information.