How Cities Can Thrive In The Age Of Populism
Responsibility for addressing some of the world’s hardest challenges is being pushed down to cities and metropolitan areas, often without compensating resources or structural authority. As a result, problem solving is increasingly bottom up rather than top down and delivered by networks of institutions and leaders rather than the public sector alone.
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The New Localism provides a roadmap for change that starts in the communities where most people live and work. In their new book, The New Localism, urban experts Bruce Katz and Jeremy Nowak reveal where the real power to create change lies and how it can be used to address our most serious social, economic, and environmental challenges.
IFF.org · May 3
IFF: Briefly, what is “the new localism”?
Jeremy Nowak: New Localism is the term we use to describe the shift in power that is taking place today from the Feds downward to metropolitan communities; horizontally across public, private, and civic networks; and globally along circuits of capital, talent, and innovation. For us, Localism does not refer only to local governments, but to the interplay of multiple sectors. Most importantly, we view New Localism as a problem-solving practice focused on the major challenges of our time, including growth, sustainability, and social integration.
Bruce Katz & Jeremy Nowak, Commissioned for The Governance Project · March 9
The Tax Cuts and Jobs Act of 2017 established an Opportunity Zones tax incentive, which provides a federal capital gains tax deferral and partial exemption for investments in designated Opportunity Zones. Governors in each state will select Opportunity Zones from an eligible group of low-income census tracts. Selections must be made by the third week of March 2018 (or third week of April 2018 if an extension is requested). Given the significant interest among many private investors, it is possible that Opportunity Funds will attract tens of billions of dollars in private capital, making this one of the largest economic development programs in U.S. history.
This policy brief puts forward four principles to guide the selection and development of Opportunity Zones. The principles are designed to enable the greatest job creation potential and the most significant advantages for lower income resident employment, both, inside and outside the eligible zones. Throughout the document we stress the use of data analytics, local knowledge, and the need to see these incentives as just one part of a broader economic development strategy.
Harvard Kennedy School PolicyCast · March 19
Bruce Katz explains why cities have avoided populism and partisan bickering to become hubs of policy innovation.