Fact Sheet Making the Case: The Link between Residents’ Financial Health and Cities’ Inclusive Growth
Martha Fedorowicz, Kathryn Reynolds, Diana Elliott, Caleb Quakenbush
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A city’s ability to grow inclusively is tied to its residents’ financial health. When residents are financially insecure, they don’t have the same opportunity to benefit from and contribute to a city’s economic growth. To achieve inclusive growth, a city needs a fiscally sound budget that can fund city services and programs without placing undue burden on residents struggling to make ends meet; residents of all incomes who are financially stable; residents who can weather shocks (e.g., job loss, natural disasters, or a housing market crash); and a diverse group of engaged, empowered, and civically involved residents from all parts of the city.
Research Areas Economic mobility and inequality Wealth and financial well-being Neighborhoods, cities, and metros
Tags Asset and debts Financial products and services Wealth inequality Opportunity and ownership Community and economic development Financial stability
Policy Centers Center on Labor, Human Services, and Population Research to Action Lab