Over the last few decades, many parts of the American economy have grown with technology and globalization. But others have witnessed industries being gutted and jobs being lost, resulting in persistent economic distress. Federal policy in the past few years has responded to this with programs targeting distressed regions, leveraging the power of local economic development intermediaries. Fortunately, these economic development organizations are not new. We can learn from their decades of experience recruiting firms, creating ecosystems and partnerships, facilitating economic transformations, and responding in real-time to economic transitions.
In Spring 2025, Reimagining the Economy brought together leaders from regional economic and workforce development organizations, including winners and finalists of the Build Back Better Regional Challenge and the Recompete Pilot Program. The goal of this gathering was to take stock of recent place-based policies and interventions that aim to address economic distress and promote productivity.
- Taking Stock: What do we know about place-based policy?
- What is the future of U.S. industrial policy?
- Unpacking different models across the country
- Building the capacity to implement place-based policy in the context of distress
- Where do we go from here? Implications for policy, philanthropy, and the private sector