Economic Innovation Group
@InnovateEconomy
Followers
13K
Following
6K
Media
2K
Statuses
12K
An ideas lab and advocacy organization working to forge a more dynamic U.S. economy.
Washington, D.C.
Joined September 2013
š¢ NEW REPORT: Government transfers now account for 18% of all personal income in the U.S., doubling over the past 50 years. What does this mean for American communities?. We dive into the details in our new report, The Great 'Transfer'-mation: š§µā¬ļø
1
8
19
A five-story Red Cross building in an Alabama #OpportunityZone has sat vacant for over 20 years. With the help of OZ funding, it will find new life through its redevelopment into 192 workforce housing units. Read more from @bhambizjrnl:
17
131
403
Tomorrow at 10 am ET, @stevenmnuchin1 and @SBAJovita will appear before the Senate Small Business Committee to discuss the #CARESAct and its impact on small business. Follow EIG's analysis of the hearing with #EIGLive .
In preparation for the @SmallBizCmte hearing on the Implementation of Title I of the #CARESAct with @stevenmnuchin1 and @SBAJovita, we'd like to offer a few helpful links. [THREAD].
3
29
194
ICYMI: America is not āFULLā. In fact, EIGās new report shows the opposite: population growth has slowed to its lowest level since the Great Depression and half of all states experienced a net decline in prime age population over the last decade.
10
121
166
The Paycheck Protection Program is a critically-needed lifeline for American small businesses. EIG's @LettieriDC summarizes the program and explains why Congress may need to do more:
13
70
159
Ahead of the #Inauguration, see our analysis on #election2016 using data from DCI & our concentrated recovery report
6
52
137
#OpportunityZones, a systematic new way to connect investors w/ deals in distressed communities, were created by an unusual group of private and public leaders. Hear from @Sparker, @SenatorTimScott, @SenBooker, @MichaelDTubbs, @SteveCase & more in @Forbes:
7
50
129
1/ THREAD: More places worldwide are being left behind by the modern economy. What can policymakers do about it?.
12
49
108
Read this NYT article from @jimtankersley to learn how the new Opportunity Zones program, a bipartisan provision of the Tax Cuts and Jobs Act, can help revitalize neighborhoods and towns that are currently starved for investment.
8
50
83
We're proud to share our Distressed Communities Index mapping economic prosperity & distress
7
107
90
#OpportunityZones are the most significant new economic development tool introduced in decades. This program will get private capital off of the sidelines and put that money to work rebuilding the nationās left-behind communities.
15
28
63
Immigrants start more businesses than native-born Americans, providing jobs and growth. READ @bencasselman:
2
71
69
NEW RELEASE: EIG's latest report w/ @ModeledBehavior, "From Managing Decline to Building the Future: Could A Heartland Visa Help Struggling Regions?" Read:
10
35
73
Thanks @SenGillibrand for cosponsoring the #IIOA to bring investment to NY's distressed communities.
7
12
65
#NEW: @uscensusbureau data reveals counties across the country are experiencing demographic decline. Major coastal metros joined chronically struggling rural areas to see the biggest population losses. The Mountain West and major metros in the Sunbelt are leading in gains.
4
27
67
Today, EIG launched the Neighborhood Poverty Project with new research on the evolution of high-poverty neighborhoods in the United States since 1980. Learn more:
4
23
56
Today at 10 am ET, the Senate Small Business Committee will hear from @stevenmnuchin1 and @SBAJovita about the #CARESAct implementation and its impact on small business. Follow EIG's analysis of the hearing with #EIGLive.
In preparation for the @SmallBizCmte hearing on the Implementation of Title I of the #CARESAct with @stevenmnuchin1 and @SBAJovita, we'd like to offer a few helpful links. [THREAD].
0
8
55
In a recent visit to Columbia, SC @VP and @SenatorTimScott pointed to the growth #opportunityzones could bring to the local community. Read more about their visit here:
12
16
57
Today, EIG launched the interactive Opportunity Zones Activity Map, a tool that highlights innovative and impactful projects being catalyzed by the bipartisan #OpportunityZones policy in communities across the country. Explore the map here:
13
27
59
See our new report, "Is the American Dream Alive or Dead? It Depends on Where You Look."
16
17
49
The U.S. Treasury has issued proposed regulatory guidance on investments in #OpportunityZones. This is a significant step in the right direction that will help unlock market activity in low-income communities across the country. View the guidance:
5
20
53
Read @SenToddYoung & @ChrisMurphyCT statement in support of Bidenās forthcoming executive order towards limiting non-compete agreements here:
0
12
48
Contrary to popular opinion, #millennials are not involved in startups like past generations were. READ @johnwasik:
0
3
47
Today, EIG welcomed Jason Segedy as our inaugural Legacy Cities Fellow and launched the Legacy Cities Series, a collection of research and insights into Americaās older industrial cities. Read @JasonSzegedi's first dispatch from Akron, Ohio:
2
10
52
#OpportunityZones are an important tool for revitalizing left-behind communities. Tomorrow's #ForbesOppZones Summit will help accelerate best practices for investors, policymakers, and community leaders to ensure OZs fulfill their potential. Read more:
2
12
51
We're proud to share our Distressed Communities Index mapping economic prosperity and distress. See the NYT report:
4
56
48
š Good Read: Canada's new high-skilled immigration pathway is poaching American H-1B recipients by offering what the U.S. immigration system does not: stability. Via @zhoyoyo in @PostOpinions:.
4
18
49
"High-skilled immigrationāwith high probabilityācreates more inventors, more entrepreneurs, and a more skilled workforce," said EIGās @ModeledBehavior. Listen to the full conversation on immigration, economic dynamism and more with @genemarks via @Paychex:
0
4
28
Greater enforceability of #noncompetes reduces new firm entry by 18 percent, and those firms that do start have fewer employees at launch and are more likely to die in their first 3 years. The threat of enforcement appears to particularly dampen entrepreneurship among women.
The evidence is clear: #noncompetes depress wages, hinder entrepreneurship, and chill innovation. Workers in states that enforce non-competes earn less than equivalent workers in states that do not enforce them.
1
24
45
Weāre thrilled to support the #IIOA, putting private capital to work revitalizing America's distressed communities.
3
18
45
#NEW: Total U.S. business establishments are 7% above pre-pandemic levels as of Q3 of 2021, EIG analysis of @BLS_gov Quarterly Census of Employment and Wages (QCEW) data finds. Explore the key findings by @cojobrien ā¬ļø
3
20
40
The pandemic reshaped where Americans chose to live. Newly available data reveals how the movement of peopleāand their incomesāimpacted tax bases across the country between 2020-2021. @Axios local reporters highlight key findings from EIG's analysis by @cojobrien š§µā¬ļø
2
25
42
#Millennials on track to be least entrepreneurial generation. We can change this. READ @AnaSwanson: #MillennialEcon.
5
27
40
Congratulations @CoryBooker, @SenatorTimScott, @RepRonKind, @PatTiberi on introducing #IIOA. Join the conversation:
2
22
39
The first phase of #OpportunityZones implementation is complete, and the map of investable communities has come into focus.
1
34
40
The evidence is clear: #noncompetes and no-poach agreements depress wages, hinder entrepreneurship, and chill innovation. Read EIG & @evanpstarr's recent research that shows how this settlement can positively impact workers, wages and entrepreneurship:
1
20
39
"Americans are changing jobs less often, starting fewer companies and moving less frequently." READ @bencasselman:
1
24
39
From @emmabwiles and @johnjhorton: āThere is a fair bit of evidence from the economics of AI literature that when you give people access to AI tools, the lowest-skilled people are the ones who benefit the most.ā. Check out the latest American Worker Project essay to learn more:
3
13
41
Fewer startups are being created in small counties, a trend that jeopardizes our economic future, via @jimtankersley
6
36
38
"We are talking about the economic futures of 35M Americans living in #OpportunityZones, and whether these communities will thrive or continue to fade as others prosper. Our collective goal is to create lasting economic opportunities in these communities." --@franseegull.
0
14
33
#OpportunityZones is the largest community development initiative in a generation. However, size isn't the programās only strength; it is the flexibility of this policy that makes it a potential game changer for communities.
3
21
33
#OpportunityZones have attracted $75B in private investment, according to a new @WhiteHouseCEA report. But improvements are needed:. ā
reporting requirements.ā
removing high-income tracts.ā
community support.ā
tax deadline extension. Read more:
0
17
34
Champion of #OpportunityZones @SenatorTimScott chats with @morningmoneyben about how the program will help revitalize rural America via @politico
0
2
35
OP-ED: How the Investing in Opportunity Act will spur local growth better than expensive corporate tax incentives:
1
23
33
Immigration has already dropped significantly during the Trump presidency and recent efforts to restrict workers and students are antithetical to economic recovery efforts. EIG's latest release explains the vital role that immigration plays in the economy.
1
13
32
Newark Mayor @RasJBaraka, @RaymondChambers, @Prudential's Ommeed Sathe, @RockefellerFdn's @RajShah, and @NewarkAlliance's @Aisha_Glover share how collaboration between policymakers, philanthropy, and investors is setting #OpportunityZones up for success at #ForbesOppZones Summit.
0
9
34
.@UrbanInstitute explains how #OpportunityZones will drive growth and productivity in Native American communities across the country that are often overlooked by investors:
6
14
31
A whopping 75% of 2023 Nobel laureates in Science live in šŗšø. Without immigrants, this number drops to 25%. š±. Discover how immigration policy can supercharge American innovation and competitiveness:
14
15
31
NEW research from EIG shows that Japan-level demographic decline is widespread across the US. Read our latest data brief here:.
2
16
33
NEW: EIG, along with 20 leading business groups, released a letter urging Congress to enact critical improvements to the Paycheck Protection Program. Read:
1
13
28
"There is no reason that a country as rich and as powerful as ours should have to choose between great wealth for the few and great opportunity for all of its citizens." Read @SenBooker's essay where he shares why he worked to make #OpportunityZones law:
0
10
32
Rep. @sethmoulton discusses small business creation and economic #dynamism on @crookedmedia with @jonfavs, @jonlovett, and @TVietor08:
1
11
29
Thatās a wrap on the inaugural #ForbesOppZones Summit! A big thank you to @Forbes, our phenomenal speakers, and guests who shared the impactful work they are doing in Opportunity Zones nationwide. Weāre excited to continue to work with you to make #OpportunityZones a success!
1
4
33
1/ THREAD: The Distressed Communities Index helps to better understand how economy, geography, & politics intersect.
2
36
30
Thank you @GovMurphy for your leadership on working to build stronger economies in NJ. We were excited to join you today to discuss #OpportunityZones.
Through policies like Opportunity Zones, affordable higher education, apprenticeships, & worker protections, NJ companies can lead in the innovation economy. I stand with @ChooseNJ, @SenBooker, and all who are working to make NJ even better for business.
4
5
27
9 out of 10 #OpportunityZones lack adequate access to high-quality early childcare & schools, safe places for children to live & play, and economic opportunity. EIG's new report explores local strategies for improving educational attainment in OZs.
5
11
25
.@HypothesisVC's @PeterBrack, @PhilaTEC's Della Clark, @USTreasury's Dan Kowalski, & @HangarIs @JoshMendelsohn illuminate the ways that entrepreneurs are Building Bold Businesses in #OpportunityZones. #ForbesOppZones
0
7
28
Read more on how @Habitat_org is making #OpportunityZones part of its strategy to raise capital for affordable housing and small business opportunities by creating a "blueprint for redevelopment without [displacement]":
0
15
28
The new Senate #Entrepreneurship Caucus is an important Congressional champion for American #entrepreneurs. EIG is excited to work with @SenatorTimScott, @SenAmyKlobuchar, and @startupsUSAorg to elevate this bipartisan effort. @DaneStangler in @Forbes:
0
13
29
Small businesses are stagnating, not recovering, with more firms firing than hiring. Read our takeaways on the last month of @uscensusbureau data here:
0
15
25
What can be done to revitalize counties left behind? The Investing in Opportunity Act is one bipartisan solution.
3
16
25
EIG's new Index of State Dynamism (ISD) charts state-level dynamism across 8 metrics over nearly 30 years. Key findings ā¬ļøš§µ.
1
6
27
Working Americans have the best chance to thrive in an economy that is quickly adapting and advancing to new frontiers. A new report by @kenanfikri + @LettieriDC lays out the worker-centric case for economic #dynamism:
2
11
27
2
13
23
For the latest insights on the Fed's position at #JacksonHole, explore the latest coverage from @vtg2 in @POLITICO featuring EIGās @ModeledBehavior, @elerianm, @fcastofthemonth, @FedGuy12, and more.
0
7
24
The rise of noncompete agreements is troubling, even for swim instructors! Listen to @theindicator explain why these contract clauses are proliferating and what economic effects they'll have. Via @NPR
2
5
25
šØ NEW analysis from EIG:. For the first time in half a century, U.S. manufacturing employment has fully rebounded from a recession, surpassing pre-pandemic levels. Read more here:
2
13
24
Cities across the U.S. are thinking about new ways to revive struggling economies. In Stockton, CA, the 8th most distressed city in America according to our Distressed Communities Index, @MichaelDTubbs is leading the way. Read more:
3
12
22
Last week's packed IRS hearing on #OpportunityZones made it clear: community stakeholders are excited by the new incentive, but want to see regulations that support investments in small businesses. Read our update.
0
16
27
Today, EIG is launching The American Worker Project to forge a much-needed consensus rooted in data that transcends partisan and ideological divides. The project features original EIG analysis, public opinion research, and a series of expert guest essays. Learn more:
1
10
27
We were glad to participate in an insightful discussion on an impact framework for #OpportunityZones convened by @NewYorkFed, @BeeckCenter, and @ImpactInvestUS. Read the synopsis, with insights from @kenanfikri here:
0
10
26
Still going through Treasury's proposed regulations on #OpportunityZones? We've outlined the key takeaways for you:
0
12
25
#NEW: Today, EIG is excited to unveil a reimagined edition of a flagship research product: the Distressed Communities Index. The DCI is an interactive tool that allows users to explore the geography of community well-being across America. Start exploring:
2
10
26
Just released! EIGās latest report, #Dynamism in Retreat: Consequences for Regions, Markets and Workers. READ:
0
22
25
#SaveTheDate: EIG is excited to partner with @Forbes to host the Forbes Opportunity Zones Summit: Investing for Impact in Newark on May 21! #FORBESOPPZONES Read more here:
0
6
24
Distressed communities across the country are primed for an influx of capital and economic growth in #OpportunityZones. @LettieriDC explains to @Governing why the debate on OZs so far has distracted from important efforts to lift up left-behind areas.
1
13
24
Good Read: @BPC_Bipartisan estimates that the growing green card backlog is depriving the U.S. of an estimated $3.9 trillion in GDP growth. From @kreighbaum in @blaw:
1
8
22
Renaissance Equity Partners is launching a $50M opportunity fund to to help spark the transformation of HBCU neighborhoods around the country.
0
13
22
ā#OpportunityZones can become the biggest economic development program this country has seen in at least a generationā - @SenBooker speaking at #CBCALC18
0
9
21
3 states receive the majority of VC investment but entrepreneurial talent and investment opps exist in communities across the country. Tune into @60Minutes on Sunday to learn about @SteveCase & @Revolutionās @RiseOfRest efforts to empower entrepreneurs all across the country!.
ā75% of venture capital money went to three states: California, New York and Massachusettsā¦ not in the middle of the country and we just have to change that.ā Billionaire investor Steve Case looks to bring that change, Sunday on 60 Minutes
1
12
24
#NEW: The first economic impact analysis of the largest remote worker incentive program, @tulsaremote. The āāfirst cohort of members will contribute $62 mil. in new local earnings in 2021āa near-14x return for each $1 spent on the incentive š§µā¬ļø.
1
14
25
š”Immigration policy is innovation policy. RSVP to join EIG, @IFP, @JoinFAI, @startupsUSAorg, @FAScientists, @NiskanenCenter, & @KauffmanFDN for a reception highlighting the impact of immigrant entrepreneurs feat. remarks from @SteveCase and @LettieriDC.
0
17
22
On behalf of a broad coalition of leading private sector and philanthropic stakeholders, EIG submitted new recommendations to @USTreasury for data collection and impact measurement in #OpportunityZones. Read EIG's statement here:
2
8
24
Weāre thrilled to announce our new Policy Council of leading public & private sector experts
0
16
23
Drop in mobility attributed to:. 1) Slowing economic growth. 2) Rising income inequality. @BenCasselman:
5
22
18
We're thrilled to be a part of the Opportunity Zones Task Force with @Sorenson_Impact, @ImpactInvestUS, @LISC_HQ, @BeeckCenter, @DevelopAdvisors, and Business Alliance for Local Living Economies.
1
6
23
NEW: Could the international boom in #remotework lead to the offshoring of white-collar jobs?.Read the latest analysis from @andrewvandam in @washingtonpost featuring insight from EIG's @ModeledBehavior:
1
7
20
#NEW: 2021 was the slowest year for population growth (0.1%) in U.S. history according to new @uscensusbureau data. Major declines in international #immigrationācoupled with COVID deaths + declining birthratesāare driving the numbers down. Key takeaways ā¬ļø
1
12
22
About half of U.S. counties are losing population outright each yearāa historically high proportion. EIG's report outlines other demographic trends putting economic growth and dynamism at risk in communities across the U.S.
1
13
22
In a new policy brief, @LettieriDC, @ModeledBehavior, and @cojobrien tackle how to design a Heartland Visa program that advances the interests of struggling regions and the broader U.S. economy:
1
13
22
Today, EIG launched the interactive Opportunity Zones Activity Map, a tool that highlights innovative and impactful projects being catalyzed by the bipartisan #OpportunityZones policy in communities across the country. Explore the map here:
3
16
24
As small-town banks continue to disappear, rural entrepreneurs are left with few sources of capital to get their businesses off the ground. @RossBaird argues that new tools like #OpportunityZones are needed to connect job-creators with much needed capital
1
7
22
āWhile college workers continue to earn a significant urban wage premium, even after housing is taken into account, that is not the case for those with a high school degree or less," notes @stanveuger in a new American Worker Project essay. Learn more:
1
8
22
Start-up rates, new bank formations, and small business lending never recovered after the '09 financial crisis. As we stand on the precipice of another downturn, @KenanFikri highlights important lessons in policymaking from the Great Recession:
2
14
22