Results from a recent national Fed survey show that community development financial institutions (CDFIs) and the communities they serve are facing less severe disruptions than last year. Still, staffing and other challenges are preventing CDFIs from fully meeting growing demand for their products and services.
Investment Connection is a program that introduces public and private funders in the regions served by the Federal Reserve Bank of Richmond to proposals from community-based organizations and small businesses that benefit low- and moderate-income, distressed and underserved communities.
Different people have disparate experiences in accessing credits. Exploring ways to close this credit access gap could provide more economic opportunities for underprivileged areas.
As legal gambling options proliferate, commercial casino expansion is less likely to induce economic growth.
The New River Valley Regional Commission is an example of how a regional development organization can galvanize innovative, sustainable regional and local housing strategies to serve its small towns and rural communities.
Small businesses remained challenged throughout 2021 and those that sought financing to bridge funding gaps experienced a higher rate of denials than before the pandemic.
Regulators are considering changes to how the 1977 law is implemented
The Fed’s Community Impact Survey reveals COVID-19 disruptions to community organizations’ operations and the low-income communities they serve.
Carrie Cook describes the role of the Federal Reserve System in the community development sector and how the Federal Reserve Bank of Richmond partners with communities to fulfill this role. Cook became the Richmond Fed's community affairs officer and vice president of community development in May 2022.
Kelly Bowers, economic development director for Hertford County, N.C., discusses the challenges and opportunities facing her community. She highlights the importance of collaboration across state lines and the need for infrastructure such as broadband and affordable housing to support growth.
Tressa Gardner provides an overview of the Southeastern Institute of Manufacturing and Technology (SiMT), the business incubator and other programs that it operates, and its role in supporting economic development in northeastern South Carolina. Gardner is associate vice president of SiMT.
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