Site Visit to Mesa 14 July 2015 |
Federal Reserve Bank President John Williams believes the creative economy -- all the activities and institutions under the umbrella of arts and culture -- is a force for economic growth and the key to solving complex community problems.
A July 14, 2015 tour of Creative Place Making activities and opportunities in downtown Mesa [see an earlier post on this site from 01 August "Transit Means Smart Growth"] proved his point.
Here are some snippets, plus additional information and editing, from an e-announcement received earlier today, to encourage private lenders and investors to expand both their comfort levels and their understanding of and interest in community development.
Williams and other officials from the Federal Reserve Bank of San Francisco saw firsthand the problems and solutions for revitalizing downtown Mesa and the surrounding neighborhoods during a three-hour site visit organized by LISC Phoenix.
John Williams |
When a national monetary policy leader, a self-described pragmatic, data-driven financial expert, champions the merits of an emerging economic growth opportunity, lenders and investors should take note.
Increasing data that touts the vitality of the creative economy should compel private lenders and investors to expand their understanding of and interest in community development.
Public investment and foundation grants seeded much of the early success in creative placemaking. But a successful creative economy hinges significantly on banks and private investors acquiring a comfort level with a new type of community development investment. All businesses, including arts and culture based businesses, need the ability to borrow and to attract capital investment.
See this link for e-Announcement
What SF Fed Saw in Mesa
Here are some links to YouTube videos by SF FRB about Creative Placemaking
Creative Placemaking: Connecting Community Development and the Arts
https://www.youtube.com/watch?v=UaFfxpaCPTILINK TO THE COMPLETE PLAYLIST:
https://www.youtube.com/playlist?list=PL2mKVrKqc3YD3hjiLpC8Pd18k3FQ9MxzA
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