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- W141555874 abstract "One of the problems in a seminar such as this, with people from all over the country, is that we are talking about problems that are national in scope, but where the solutions vary tremendously from locality to locality. We are dealing with widely varying forms of demography, geography and community organization. What I would like to do for you today is to outline what I believe are the functions of what we will call an economic development corporation, and describe to you how the Economic Development Corporation of Greater Detroit functions in the unique Detroit environment; I will then try to draw some guidelines that we can use perhaps to convert this type of description into assisting you in analyzing the problems and arriving at possible solutions in your communities. Very broadly, an economic development corporation can be defined as a privately-financed group established for the purpose of marshaling and enlisting business and other resources to aid the establishment and growth of inner city businesses. In general, an economic development corporation operates in the context of the three elements of production. These are, men, money and markets. And as has been graphically illustrated in the two preceding days here, all of these elements for all the various historical reasons are in distressingly short supply in the black sector of our society. One highly encouraging factor is the emergence of what we call for convenience sake, black planning groups. These are groups of black people who plan for the economic needs of certain sections of the black community. In Detroit there is what I believe is an outstanding example of such a group. It is called Inner City Business Improvement Forum. The acronym for it is ICBIF and that is how I will refer to it. ICBIF is not in the business of building individual rich black businessmen. Its focus is distinctly on community economic development, working on a premise of comprehensive economic development planning. Now, this is illustrated by the types of projects they have undertaken. They are working presently on a black-owned and black-controlled bank which should open its doors at the end of this year; various substantial manufacturing enterprises; a supermarket; a computerized accounting and promotional service; a comprehensive business survey to" @default.
- W141555874 created "2016-06-24" @default.
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- W141555874 date "2016-01-01" @default.
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- W141555874 title "ECONOMIC DEVELOPMENT CORPORATIONS" @default.
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