Investing in Economic Inclusion to Unlock Broad-Based Growth
Though Long Beach has benefited from a recent economic boom, a disparity exists in median household income among the city’s diverse communities, in which nearly 70 percent of residents are African American, Asian, and Latino. To advance economic equity, Long Beach devised a 10-year strategic plan that prioritizes access to economic opportunities in low-income communities.
Armed with research and analysis of best practices, the city already has begun tackling the challenge. FUSE executive fellow Daniel Han will build on this work by helping provide access to inclusive capital to minority- and women-owned small businesses in low-income communities. He will identify key financial players in Long Beach, develop lender and investor profiles, and connect these financial institutions to those small business owners seeking capital to acquire and improve real estate, as well as grow their businesses in Long Beach. Additionally, Daniel will develop recommendations for gaining access to inclusive capital programs that are impactful and sustainable, and he will provide a plan for implementation.