What a Year! EIG’s 2016 in Review.
When the Economic Innovation Group launched in March 2015, we were a tiny organization with a simple premise: offer a new, bipartisan paradigm for policies that leverage American entrepreneurs and investors in solving urgent economic challenges. Our founders, advisors, and staff were motivated by the idea of combining innovative research and data-driven, “free agent” advocacy to bring new investment to distressed communities and reverse the national decline in entrepreneurship.
Looking back on 2016, we couldn’t be more proud of the progress EIG has made with your help. Below are a few highlights we wanted to share:
RESEARCH
Our research last year grappled with the thorny issues of geographic inequality and fading business dynamism — and, in the process, shed light on the economic anxiety that was prevalent throughout the 2016 presidential campaign. EIG was a leading voice in diagnosing that geographic inequality needs to be as much a part of the national conversation as income inequality; that the decline in entrepreneurship is approaching a national crisis; and that the future of the economy — the Millennial generation — feels increasingly apprehensive about their economic opportunities.
EIG released a series of projects to unpack these phenomena, including:
The Distressed Communities Index (DCI) — a new and interactive way to visualize economic distress and prosperity across 25,000 zip codes in the U.S.
The New Map of Economic Growth and Recovery — a jarring look at the limited and concentrated nature of new business creation since the Great Recession.
The Millennial Economy — a survey of Millennials’ views on everything from their personal financial situations to the jobs available in their communities to the trustworthiness of American institutions.
ADVOCACY
Armed with our research, EIG worked closely with policymakers on both sides of the aisle to develop the bipartisan Investing in Opportunity Act (IIOA), legislation that would incentivize tens of billions of dollars in new private investment in distressed communities throughout the country.
In just a few months, IIOA earned the support of over 70 congressional cosponsors in the House and Senate, hailing from 30 states, and spread across the entire political spectrum.
PRESS
Our work and commentary has been featured extensively in the media, touching nearly every state, including feature stories in:
Poorest Areas Have Missed Out on Boons of Recovery, Study Finds, by Nelson D. Schwartz, The New York Times, 2/24/16
The Recovery’s Geographic Disparities, by Bourree Lam, The Atlantic, 2/26/16
Legislation aims to boost investment in economically distressed areas, by Mary Troyan, USA Today, 4/27/16
A very bad sign for all but America’s biggest cities, by Jim Tankersley, The Washington Post, 5/22/16
This chart explains why coastal elites and middle America see the economy differently, by Timothy B. Lee, Vox, 5/29/16
Dear Next President: Lend a Hand to Our Entrepreneurs, by Steve Glickman and John Lettieri in a five-part series of partnered content with The Daily Beast, 7/29/16
We expect millennials to do great things. Maybe we shouldn’t., by Ana Swanson, The Washington Post, 9/22/16
EVENTS AND OUTREACH
We kicked off 2016 working with the Kemp Forum on a presidential candidate forum on poverty and economic opportunity in Columbia, South Carolina hosted by Speaker Paul Ryan and Senator Tim Scott, organized a celebration of entrepreneurship with The Daily Beast at Reading Terminal Market on the sidelines of the Democratic National Convention in Philadelphia, partnered with EY for a discussion on Millennials and the economy at Georgetown University’s Institute of Politics and Public Service, and ended the year with a celebration of the passage of the 21st Century Cures Act with the Parker Foundation at Andrew W. Mellon Auditorium in Washington, DC.
In between, we traveled to communities throughout the country, hearing the stories of local leaders and entrepreneurs in Baltimore, Cleveland, Columbus, Denver, Detroit, Las Vegas, Los Angeles, New York, Omaha, Philadelphia, Salt Lake City, San Antonio, and San Francisco.
THE EIG TEAM
From our new office in DC’s Chinatown, our small-but-mighty team worked long days and nights to make all of this happen: Amanda Byrd, whose media savvy ensured our work was seen throughout the country; Kenan Fikri, our researcher extraordinaire; Liz Hipple, who helped build our coalition on the Hill and beyond; and Milica Cosic, the consummate EIG’er and glue that holds everything together.
We were also lucky to find a whip smart and energetic group of fellows and interns: Brady Gartmen, Perry Hamilton, Kat Ignatova, Grace Mausser, Hugh Monahan, Elizabeth Packer, Angela Reyes, Sara-Paige Silvestro, Kellee Wicker, Max Greenberg, Shelley New, and Drew Dushkes. We want to salute our friends and former colleagues, Matt Lockwood and Jessica Guzik, who played critical roles in EIG’s early success before heading off for new challenges and adventures.
Last, but not least, we could not have accomplished these milestones without you: our friends and colleagues in the research, advocacy, investor, entrepreneurship, and policymaking communities.
We deeply appreciate all of your support, ideas, and encouragement.
It’s never been more important to find new approaches to solving the complex economic challenges this country faces. We want to hear from you about new ways we can work together to help more people achieve the American Dream.
To hear the latest from us, make sure to sign up for our updates at EIG.org and follow @InnovateEconomy on Twitter.
