Think Locally, Invest Locally

(Philadelphia Citizen)

The Nowak Metro Finance Lab Director introduces his big idea for 2019: Using local wealth to grow local wealth in cities like Philadelphia

The Nowak Metro Finance Lab Director introduces his big idea for 2019: Using local wealth to grow local wealth in cities like Philadelphia

― and a group of fellow travelers—have become virtually obsessed with building a new set of local institutions that align with our 21st century economy and society and unlock and deploy capital for a new kind of purposeful growth.

About six weeks ago, the Philadelphia Industrial Development Corporation co-hosted a workshop at the Navy Yard with the new Drexel Metro Finance Lab for U.S. and European practitioners. At the opening session, John Grady, the CEO of PIDC, described how his remarkable corporation was initially founded 60 years in order to carry out the federal urban renewal program.