DT #314: How Equity and Inclusion Boost Economic Recovery - Part 1

<p>Tracye McDaniel and Jaclyn Le with TIP Strategies join Dennis for a thought-provoking discussion on equity and inclusion in this economic environment.  See below for expanded show notes.</p> <p><a href="https://tipstrategies.com/">TIP Strategies</a></p> <p>Connect with <a href= "https://www.linkedin.com/in/tracyemcdaniel/">Tracye McDaniel</a></p> <p>Connect with <a href= "https://www.linkedin.com/in/jaclynle/">Jaclyn Le</a></p> <p><strong>PART 1.</strong></p> <p><strong> </strong><strong>CONTEXT</strong></p> <ul> <li>In today’s rapidly changing demographic, social, and economic environment, the need for equity and inclusion in economic development programs is particularly urgent.</li> <li>COVID-19, the current economic crisis, and national uprisings have altered life in every community and called greater attention towards racial and economic justice.</li> <li>If the economic development field does not take a more proactive approach to addressing racial inequity, then we run the risk of failing to meet our goals of improving our communities and fostering economic vitality.</li> <li>Traditional approaches to economic development have not benefited all populations — and, in many cases, the policies and programs have neglected or even shortchanged people of color, immigrants and low-income communities.</li> </ul> <p><strong>TERMS</strong></p> <ul> <li><strong>Equity</strong> – Providing fair access to resources and opportunity while eliminating systemic barriers that prevent full economic participation.</li> <li><strong>Inclusion</strong> – Creating an economy in which every individual and group is valued and able to fully contribute to your community’s economic vitality.</li> <li><strong>Under-resourced communities</strong> – communities that have been historically marginalized and excluded from economic opportunity because of their race or class. Specifically, this includes communities of color and low-income residents. While there is some overlap between these two groups, it is important to recognize that they