New England’s smaller cities and towns once hummed with industry. Beginning in the 1970s, many of these places began to experience a sharp decline in their core industries driven by economic globalization and the shift towards the knowledge economy. Cities closest to New York and Boston adapted by shifting their economies towards services, advanced manufacturing, and high-tech industries. But more remote cities were left behind. Today, these communities continue to face the challenges of population loss, unemployment, and underinvestment.
Despite these challenges, resurgence is graining momentum across New England’s smaller towns driven by ample housing/land affordability, a diversifying workforce, emerging small business ecosystems, and a strong ag economy and outdoor development potential. However, access to capital remains a critical barrier to growth for many. New capital sources and innovative delivery mechanisms are needed to advance inclusive economic opportunity in the region.
Join this panel led by the Boston Fed and Avivar Capital to learn more about current efforts to drive increased public, private and philanthropic investment strategies that can support a vibrant economy that works for all.
