New from The Democracy Collaborative
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Inaugural Teach-Ins & Curriculum Release
The Next System Project kicked off the inaugural Teach-In Initiative in Madison, Wisconsin and New York City, bringing together over 400 students, activists, academics, and practitioners to learn about systemic alternatives grounded in environmental, racial, and economic justice. Presenters during the New York City teach-in opening plenary panel included: Democracy Collaborative co-founder Gar Alperovitz; Deyanira Del Rio, co-director of the New Economy Project; Autumn Marie, a Black Lives Matter activist; Ed Whitfield, co-managing director of the Fund for Democratic Communities; Frances Fox Piven, Distinguished Professor at CUNY; and Sarah Leonard, Editor of The Nation. The Next System Project also published a Teach-In curriculum which features a Facilitator’s Guide and a System Change Guide.
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Co-op Conversions: A $10 Trillion Investment Opportunity
As baby boomers retire, an estimated 70 percent of all private businesses are predicted to transfer ownership in the next five to 20 years. This represents a $10 trillion market opportunity for lenders as well as an opportunity to anchor jobs in the community. This new brief, published by the Cooperative Fund of New England, Project Equity, and the Democracy at Work Institute, provides a primer on worker co-ops and guidance for underwriting worker cooperative conversions. It also includes five case studies of cooperative conversions with details on loan terms, debt and equity ratios, sources of capital, and collateral requirements.
READ THE FULL BRIEF
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Worker Co-Ops Double in New York City
The city government of New York recently released an assessment on the first year of New York City’s Worker Cooperative Business Development Initiative. The $1.2 million in municipal investment has led to the creation of 21 new worker cooperatives—doubling their number in the city—and has helped to build the capacity of existing cooperatives and businesses. It is estimated that over 141 new worker-owner positions have been created and over 900 entrepreneurs have received training in co-op development. Encouraged by this success, the New York City Council increased the initiative’s funding to $2.1 million for Fiscal Year 2016.
READ THE FULL REPORT
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Growing Anchor Institution Local Food Purchasing in Baltimore
Commissioned by the Baltimore Integration Partnership, a collaboration of anchor institutions, nonprofits, and public organizations focused on inclusion in Baltimore, this report from Karp Resources describes how anchors can create opportunities for local food vendors and strengthen the local economy. To help local vendors gain contracts with anchor institutions, which typically work with large food service providers, the report encourages anchors to create local preference requirements within their requests for proposals (RFPs), to support the certification of local- and minority-owned enterprises, and to institute local food price preferences.
READ THE FULL ARTICLE
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“Homegrown” Jobs Spur Economic Growth
Jobs created by out-of-state businesses represent less than one-sixth of local total job creation. In contrast, “home grown” firms, those already existing or starting up within a state, produce more than 80 percent of total new jobs. These figures uncovered by Center on Budget and Policy Priorities researchers Michael Mazerov and Michael Leachman suggest a reconsideration of corporate subsidies and tax breaks to encourage business relocation. The authors recommend re-directing those investments towards workforce development and improving the living conditions of local communities.
READ THE FULL PAPER
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2016 Assets and Opportunity Scorecard
Published by the Corporation for Enterprise Development (CFED), the 2016 Assets and Opportunity Scorecard assesses current levels of economic opportunity in the United States. In addition to a summary report, the site features interactive tools that allow users to view results by various issue areas--from financial assets and income to healthcare and education. The website also includes a map which highlights state level policy changes that are affecting economic opportunity. Learn more at http://assetsandopportunity.org/scorecard/
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Build With Prospect Inc.
Founded in in 2013, Build with Prospect, Inc. is a minority-owned worker cooperative based in New York City specializing in sustainable design, construction, and retrofit. The website includes a portfolio of past projects as well as media stories about the co-op. Learn more at http://www.buildwithprospect.com/worker_co-op.html
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