More broadly, place-based programs have not centered on advancing local ownership, empowerment, and wealth creation.14A brief history of federal place-based policyFederal place-based policy has significantly evolved over the past half-century.
The stated purpose of most place-based federal programs has generally been to drive business growth, job creation, and investment in low-income communities.
They would also be responsible for identifying the local partners, or partnership configurations (described below) to manage the local investment funds.35Alignment with Opportunity Zones.
The lead organization overseeing the local community investment funds must be a local entity with the capacity for managing investments.
Recent innovation has given rise to multiple structures39 that could be employed, depending on the state and local community development ecosystem.