5th Annual Summit of the Inner City Economic Forum to Focus on Mobilizing Capital for Inner City Revitalization.Only National Forum Focused on Market-Led Inner City Revitalization BOSTON -- A broad coalition of corporate, civic, and academic leaders from around the country will gather in Philadelphia today at the fifth annual Summit of the Inner City Economic Forum (Forum), the nation's only U.S. forum focused on market-led inner city revitalization. The Forum was founded by the Initiative for a Competitive Inner City, a national non-profit founded in 1994 by Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. Professor Michael E. Porter and other strategic partners including Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , the Ewing Marion Kauffman Foundation, The Rockefeller Foundation Rockefeller Foundation, philanthropic institution established (1913) by John D. Rockefeller, Sr., to promote "the well-being of mankind throughout the world." During its first 14 years the foundation received $183 million from Rockefeller. and Yucaipa Capital Access Funds. The highlighted focus of the 2007 Summit will center on "Mobilizing Capital for Inner City Revitalization" and the very real problem of access to capital. Over the last two decades, tens of billions of dollars of American capital have flowed to global emerging markets but only in the last few years has capital finally begun to trickle into America's own emerging market--its inner cities. Yet, even that trickle is in danger of drying up if sufficient thought and energy is not put into developing strategies that promote the absorption of capital. This year's Summit faces the hard question head-on: what can be done to balance supply with demand? How can all the stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. of inner city economic development work together to ensure that America's inner cities get an increasing and fair share of America's investable capital? Capital that creates jobs, income and wealth for inner city residents and makes America's inner cities a dynamic, competitive emerging market. The Forum, modeled after the World Economic Forum, brings together business and civic leaders and marshals their resources to create private sector engagement and promote adoption of ideas and actions Ideas and Action is an anarcho-syndicalist journal that was founded in 1981 as a result of numerous conferences organized by the Libertarian Workers' Group and the Strike! collectives. In 1984, the newly formed Workers Solidarity Alliance took over publication of the journal. that accelerate inner city economic development. Professor Porter, chairman and founder of ICIC ICIC Initiative for a Competitive Inner City ICIC International Cancer Information Center ICIC I See, I See ICIC International Council for Internet Communications ICIC Interexchange Carrier Industry Committee ICIC Intercalibrations-Intercomparisons , will launch a new piece of based on comprehensive research of the Real Estate and Construction, Housing (REACH) cluster in 100 of the country's largest cities. This seminal research shows that REACH, long suspected to be a strong foundation of economic revitalization for inner city economies now emerges as one of the single largest economic drivers for urban revitalization. The study, which for the first time scopes out the REACH cluster in inner city economies, preliminary data shows that not only is the cluster the 3rd largest in total inner city employment but also during 1998-2005 the employment in this cluster grew at 9 percent, while overall inner-city employment had zero growth. Not only does this cluster bring real, tangible infrastructure to inner city economies, it creates, jobs, income and wealth for inner city residents. In an exclusive speech at the Summit, SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government Administrator Steve Preston Steven C. Preston (born ca. 1961) is the 22nd Administrator of the U.S. Small Business Administration. President George W. Bush nominated him to the post.[1] He was confirmed by the U.S. Senate by unanimous consent on June 29, 2006, and was sworn in on July 10, 2006. will announce several initiatives to spur economic growth in inner cities. As part of a broader focus on underserved markets, the agency is working to accelerate entrepreneurship in inner cities through new and improved SBA programs and activities that fall into four main tracks: improving entrepreneurial literacy and technical assistance in inner city communities; enabling access to capital across underserved communities; providing advanced technical assistance to emerging growth companies in inner city communities; improving access to government contracting opportunities for minority-owned firms. Sessions at the Summit will bring together current and former City and State Treasurers from California, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , and Pennsylvania; Private Equity providers from organizations such as Bank of America, Citibank, and JP Morgan Chase; non-profit professionals from The Reinvestment Reinvestment Using dividends, interest and capital gains earned in an investment or mutual fund to purchase additional shares or units, rather than receiving the distributions in cash. 1. In terms of stocks, it is the reinvestment of dividends to purchase additional shares. Fund and others; and practitioners from CalPERS, CalSTRS, and other public pension institutions. In addition to Professor Porter and Administrator Preston, 2007 Summit speakers include former HUD Hud (h  d), a pre-Qur'anic prophet of Islam. Hud unsuccessfully exhorted his South Arabian people, the Ad, to worship the One God. Secretary Henry Cisneros, and Victor MacFarlane MacFarlane or Macfarlane is a surname shared by:
For more information about the 2007 Summit visit www.icic.org. About The Initiative for a Competitive Inner City The Initiative for a Competitive Inner City (ICIC) is a national, non-partisan, not-for-profit organization founded in 1994 by Harvard Business School Professor Michael E. Porter, following several years of pioneering research on inner-city business and economic development. ICIC's mission is to promote economic prosperity in America's inner cities through private sector engagement that leads to jobs, income and wealth creation for local residents. ICIC brings together business and civic leaders to drive innovation and action, transform thinking and accelerate inner city business growth and investment. For more information, please visit our web site at www.icic.org |
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