At CLTRE, we are committed to driving Inclusive Economic Development—a concept that ensures that all individuals, especially those historically excluded, have access to the resources and opportunities they need to thrive. Inclusive economic development is about more than just economic growth; it’s about creating equitable pathways for everyone in our community to benefit from and participate in that growth. For the past year, we have had the opportunity to be on the leading edge of Inclusive Economic Development with a nationwide cohort – L.E.A.P. Initiative – spearheaded by the New Growth Innovation Network.
What is Inclusive Economic Development?
To us – inclusive economic development is the intentional process of fostering growth that reaches every member of the community, particularly those in underserved and underrepresented groups. This approach seeks to bridge the gap between opportunity and accessibility, ensuring that economic benefits are shared by all. For CLTRE, this means prioritizing BIPOC communities, supporting local entrepreneurs, and developing housing solutions that keep long-standing residents in their neighborhoods.
Community-Led Real Estate Projects: A Catalyst for Change
One of the key ways we practice inclusive economic development is through community-led real estate projects. Our recent acquisition of a property along the Del Paso Blvd corridor is a prime example of this approach. This project isn’t just about constructing buildings; it’s about giving residents a voice in shaping their environment. By securing this property, we’re taking a significant step in ensuring that development happens with the community, not at the expense of it. This project will provide affordable housing and communal spaces, all while preserving the cultural fabric of the neighborhood.
Supporting Small and Minority-Owned Businesses
Another critical component of inclusive economic development is fostering entrepreneurship within BIPOC communities. Our EveryDay Creative Program is dedicated to helping small businesses grow by offering storefront space, training, and mentorship. We know that small businesses, especially minority-owned businesses, play a pivotal role in creating vibrant local economies. By providing access to capital, development resources, and a supportive community, we ensure that these businesses can thrive and continue to contribute to the economic health of the community.
Affordable Housing as a Cornerstone of Inclusion
At CLTRE, we understand that housing is foundational to creating inclusive communities. Our CLTRE Keeper Program directly addresses the need for affordable housing by empowering families to become homeowners. Through financial education, down payment assistance, and personalized coaching, we make homeownership more attainable for families who have been historically left out of the housing market. By doing this, we prevent displacement and create opportunities for families to build generational wealth, a key component of inclusive economic growth.
Public-Private Partnerships: Leveraging Collective Power
Inclusive economic development requires collaboration. We believe in the power of public-private partnerships, and our work with institutions like U.S. Bank and the City of Sacramento has allowed us to expand our programs and offer more comprehensive services. These partnerships enable us to combine resources and expertise to create more sustainable, inclusive growth in our communities. From funding our First-Time Homebuyer Program to supporting creative and entrepreneurial ventures, these collaborations are essential to fostering long-term economic equity.
Why Inclusive Economic Development Matters
Inclusive economic development is about leveling the playing field and making sure everyone has the opportunity to succeed. At CLTRE, we believe that when all members of a community can participate in economic growth, the entire community becomes stronger and more resilient. By focusing on inclusive strategies, we aim to create a future where economic opportunity is not limited by race, income, or geography.
CLTRE’s commitment to inclusive economic development goes beyond just offering programs; it’s about creating lasting change. Through our community-led real estate projects, support for BIPOC entrepreneurs, affordable housing initiatives, and partnerships, we are building a future where everyone has the opportunity to benefit from growth.
