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New Strategies for Inner-City Economic Development

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  • Michael E. Porter

    (Harvard Business School/Initiative for a Competitive Inner City)

Abstract

Revitalizing America's inner cities requires an economic strategy to build viable businesses that can provide sorely needed, nearby employment opportunities. Economic development in inner cities will come only from recognizing the potential advantages of an inner-city location and building on the base of existing companies, while dealing frontally with the present disadvantages of inner cities as business locations. The economic potential in inner cities has been largely unrecognized and untapped. The private sector, which must play a central role in inner-city economic development, is just beginning to recognize this potential and has already begun investing. By improving perceptions and tackling long-neglected problems in the inner-city business environment, this trend can be accelerated. Government and community-based organizations have continuing, vital roles, but their efforts must be refocused from direct intervention to preparing and training the inner-city workforce and creating a favorable environment for business.

Suggested Citation

  • Michael E. Porter, 1997. "New Strategies for Inner-City Economic Development," Economic Development Quarterly, , vol. 11(1), pages 11-27, February.
    • Handle: RePEc:sae:ecdequ:v:11:y:1997:i:1:p:11-27
    DOI: 10.1177/089124249701100102
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    Cited by:

    1. Bates, Timothy & Robb, Alicia, 2008. "Analysis of young neighborhood firms serving urban minority clients," Journal of Economics and Business, Elsevier, vol. 60(1-2), pages 139-148.
    2. Sara C. Santos Cruz & Aurora A.C. Teixeira, 2007. "A new look into the evolution of clusters literature. A bibliometric exercise," FEP Working Papers 257, Universidade do Porto, Faculdade de Economia do Porto.
    3. Cuervo-Cazurra, Álvaro & de Holan, Pablo Martin & Sanz, Luis, 2014. "Location advantage: Emergent and guided co-evolutions," Journal of Business Research, Elsevier, vol. 67(4), pages 508-515.
    4. Ledenyov, Dimitri O. & Ledenyov, Viktor O., 2015. "Wave function method to forecast foreign currencies exchange rates at ultra high frequency electronic trading in foreign currencies exchange markets," MPRA Paper 67470, University Library of Munich, Germany.
    5. Murakami, Jin, 2010. "The Transit-Oriented Global Centers for Competitiveness and Livability: State Strategies and Market Responses in Asia," University of California Transportation Center, Working Papers qt19034785, University of California Transportation Center.
    6. Daniel Felsenstein & Aliza Fleischer & Adi Sidi, 1998. "Market failure and the estimation of subsidy size in a regional entrepreneurship programme," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 10(2), pages 151-165, January.
    7. Michael Darger & Alan Barefield & Brent D. Hales, 2017. "Business retention and expansion (BRE) today – research, application, and evaluation: Introduction to the special issue," Community Development, Taylor & Francis Journals, vol. 48(2), pages 160-169, March.
    8. Waldorf, Brigitte S., 2007. "The Effects Of Rurality And Industrial Specialization Income Growth: U.S. Counties 2000 To 2003," Working papers 7334, Purdue University, Department of Agricultural Economics.
    9. George Saridakis & Anne-Marie Mohammed & Sandra Sookram, 2015. "Does Crime Affect Firm Innovation? Evidence from Trinidad and Tobago," Economics Bulletin, AccessEcon, vol. 35(2), pages 1205-1215.
    10. Murakami, Jin, 2010. "The Transit-Oriented Global Centers for Competitiveness and Livability: State Strategies and Market Responses in Asia," University of California Transportation Center, Working Papers qt44g9t8mj, University of California Transportation Center.
    11. Timothy Bates, 2006. "Alleviating the lagging performance of economically depressed communities and regions," Proceedings: Community Affairs Dept. Conferences, Federal Reserve Bank of Kansas City, issue Jul, pages 1-16.
    12. Christopher Behrer & Colleen Kamen, 2012. "Navigating uncertainty and growing jobs: considering small employer firm resilience during challenging economic times," Community Development Working Paper 2012-06, Federal Reserve Bank of San Francisco.
    13. Ke Li & Chihning Chu & Derfang Hung & Chauchyun Chang & Songlin Li, 2010. "Industrial Cluster, Network And Production Value Chain: A New Framework For Industrial Development Based On Specialization And Division Of Labour," Pacific Economic Review, Wiley Blackwell, vol. 15(5), pages 596-619, December.

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