Economic Development: Connecting to Opportunity – From Conversation to Action

The nation's cities and towns have changed over the past few years due to the COVID-19 pandemic and global economic conditions.

Communities are presented with new opportunities, including unprecedented federal infrastructure investments, evolving work patterns, and systemic changes in how people of all ages and life stages choose to live, work and play. 

Meanwhile, communities of all types and sizes are also faced with vacant office buildings and commercial spaces, a tight housing supply and, sometimes, the need to attract new residents.

As the nation’s population ages, elected officials and local leaders throughout the United States are changing the way they think about the economy so it actively includes the contributions of older residents. Unlike past generations, today's older adults are healthier than ever, and they possess talents, skills and experiences that are valuable to employers as well as organizations in need of skilled volunteers.

It was in this context that, on September 27 and 28, the virtual 2023 AARP Livable Communities Workshop: Economic Development — Connecting to Opportunity convened more than 1,300 local leaders, economic development practitioners and AARP staff and volunteers. 

With a focus on how places and people contribute to economic development, more than 25 speakers addressed the workshop’s core themes of the The Built Environment, Digital Connections, Work and Jobs and Local Economies — and shared inspiring next steps for meeting the economic development needs of a changing nation.

Following are some key takeaways and calls to action from the event.

Livable communities are good for people — and the economy

Walkable communities with diverse housing types and digital infrastructure (i.e., high-speed internet access) have strong fiscal impacts.   

• As noted during the workshop’s Built Environment panel, urban sprawl costs the U.S. economy $1 trillion a year (per a report by The New Climate Economy) — but even a one-point increase in a neighborhood’s Walk Score can increase a property’s value by as much as $3,000. 
  
  
• When workshop attendees were asked which livability features contribute the most to economic development, walkability was the top response.
  
  
• As the demographics of the United States shift, access to high-speed internet can provide economic opportunities that are crucial for smaller, more rural or remote places.

Zoning reform encourages flexible economic development strategies

• Antiquated zoning laws make it difficult for smaller, incremental-scale development by what Built Environment panelist Marques King calls the “neighborhood farmers.” These are the residents who know their communities’ assets and are well-equipped to build value for themselves and their community. 
  
  
• During her Keynote Address, Ilana Preuss shared that zoning changes are critical to growing small-scale manufacturings. For example, by allowing for the creation of smaller, more affordable storefronts, communities can make it easier to create spaces that fit the needs of new retailers and entrepreneurs. 
  
  
• Enabling Better Places: A Handbook for Improved Neighborhoods, a publication by AARP and the Congress for New Urbanism (or CNU), is a free guide about incremental zoning code reform. A zoning code update could allow for the creation of walkable communities that include housing types that serve residents of differing ages, incomes and household sizes. Discovering and Developing Missing Middle Housing,  by AARP with Opticos Design, is an information- and photo-filled guide about a housing style that is needed but has been prohibited for decades due to outdated zoning codes. 

This is a transformational moment for positive change to local economies

Engaging with residents of all ages and backgrounds to learn about their housing and infrastructure needs can help make neighborhoods more inclusive. 

• Communities can survey their Main Street businesses to determine if they represent the demographics of the entire community. Ilana Preuss’s Keynote Address highlighted the potential of small-scale manufacturing to create more equitable access to storefront properties and fill vacant spaces. 
  
  
• The AARP Community Challenge Grantee Interview featuring Lloyd Purdy, the economic development manager of Tigard, Oregon, demonstrated how the city's "Launch Pod" initiative enables the community to both activate a public space and support local entrepreneurship.
  
  
• Builders and developers in the United States are still geared toward serving the needs of the "nuclear family" (i.e., two adults and their children). Doing so fails to reflect the household diversity of the U.S. population. Making Room, a publication by AARP and the National Building Museum, explains the disconnect between America's existing housing stock and (as confirmed by data from the U.S. Census Bureau) the housing that's desperately needed.

Older adults are an economic force

They contribute to community change and fuel economic growth. They bring their wisdom, experience and needed skills to communities. 

• As noted in the Work and Jobs session, many older adults choose to become an entrepreneur as their “What’s next?” (According to the AARP report Building a  Competitive Future for All: The Business Case for Healthy Longevity, the average age of an entrepreneur is 45.)
  
  
• Older adults contribute to their communities in a variety of ways.  According to the AARP Longevity Economy Outlook, 56 cents of every dollar spent by American households is attributable to the 50+ population. 
  
  
• In addition to fueling the economy through consumer spending, panelists from the Local Economies session shared how older adults make important unpaid contributions by serving as community volunteers and caregivers.

Diversity and inclusion are key to successful economic development

By investing in people and places that have faced disinvestment, entire communities become more prosperous. 

• As noted in the Work and Jobs session, employers benefit when they prioritize creating a diverse workforce. According to research explained in the Harvard Business Review, diversity in age, gender and race is linked to innovation and market growth. 
  
  
• In the Digital Connections conversation, Mignon Clyburn, a former commissioner of the Federal Communications Commission, explained why high-speed internet (also known as broadband) is an equity issue since development and infrastructure investments are not occurring for everyone — particularly people in rural communities. The business case for implementing high-speed internet access continues to follow economic and racial lines, leaving some communities and people out.  
  
  
• Developed by Institute for Local Self-Reliance with support from AARP, the Exploring Digital Equity Fact Sheets unpack the issues, challenges and opportunities for expanding internet access across the country. 

Listen and tell your community's story

Creative solutions that ask community members to identify assets and share what makes where they live unique are key to attracting investment and fostering a thriving economy. 

• Throughout the workshop, speakers discussed the importance of listening, learning and responding to resident needs. In her Keynote Address, Deb Socia told stories about local entrepreneurs in the Chattanooga Innovation District and demonstrated how listening to and sharing success stories help build a supportive small business ecosystem. 
  
  
• Learn more about how to host a successful listening session by ordering the AARP Community Listening Session Tool Kit. 

^{Rebecca Delphia is a senior advisor and Samantha Kanach (AICP) is a consultant for AARP Livable Communities.} 

Visit the workshop's landing page for links to the workshop videos. »

If you attended the 2023 AARP Livable Communities Workshop live, or engage with the event by watching the videos, and you learn something valuable (and, hopefully, actionable) for your community, please let us know.

• Email us at Livable@AARP.org
  
• Or tag us on Facebook (/AARPLivableCommunities) or X (@AARPLivable)