For Immediate Release: October 22, 2019
Contact: [email protected]
President Bill Clinton and Secretary Hillary Rodham Clinton to Host Domestic Policy Conference on Economic Inclusion and Growth at the Clinton Presidential Center in Little Rock
On November 20, the Clinton Foundation will host the conference, which will bring together leaders and bipartisan representatives from state and local municipalities, nonprofits, and the philanthropic and private sectors to discuss the evolution and successes of Community Development Financial Institutions, proven approaches for urban and rural economic revitalization, supporting entrepreneurs and small businesses and how to further economic growth in underserved communities.
Media registration is now open. To attend, please RSVP to: https://wjcf.co/nov20pressregistration.
Little Rock, AR – On November 20, President Bill Clinton and former Secretary of State Hillary Rodham Clinton will host “Economic Inclusion and Growth: The Way Forward,” a conference on domestic economic policy at the Clinton Presidential Center in Little Rock. It will emphasize the need for a collective effort to drive action and help financial growth partners scale impact; address the income gap and racial wealth disparities; and better support underserved communities, small businesses, and entrepreneurs.
The conference is being held as the Community Development Financial Institutions (CDFI) Fund marks the 25th anniversary of its creation, among other important economic milestones from the Clinton administration, including the development of Rural Empowerment Zones, establishment of the New Market Tax Credit, and more. Together with state and local municipalities, nonprofits, and the philanthropic and private sectors, these Clinton administration priorities were key in unlocking economic opportunity by focusing on efforts to address income inequality and creating an era of broad-based economic growth.
In addition to remarks by President Clinton and Secretary Clinton, the conference will include a series of panel discussions and networking events with CDFI leadership, leading impact investors, mayors, community organizations and former Clinton administration officials.
Media accreditation is now open. To attend, RSVP to: https://wjcf.co/nov20pressregistration.
About Clinton Administration priorities to unlock economic opportunity and inclusion:
Community Development Financial Institutions (CDFI) Fund: The Clinton Administration promoted the formation of more than 400 Community Development Financial Institutions (CDFIs) through the creation of the CDFI Fund. Through the passage of the Riegle Community Development Banking and Financial Institutions Act of 1994, the CDFI Fund was created within the U.S. Treasury Department to provide federal support for CDFIs serving low-income communities.
Since 1996, the CDFI Fund awardees have provided more than $29 billion in loans and investments across the country, including $6.1 billion in small towns and rural communities, $757 million in Native communities, and $726 million to women-owned businesses
Rural Empowerment Zones (EZs): To spur economic growth in areas with poverty rates about 20 percent, the Clinton Administration established the first three rural and six urban EZs in parts of Philadelphia-Camden, Baltimore, Chicago, Detroit, New York, Atlanta, and the rural regions of Texas’ Rio Grande Valley, the Mississippi Delta, and Appalachian Kentucky. Between 1997 and 2008, EZ and Enterprise Community (EC) tax credit dollars claimed by employers within both rural and urban EZs/ECs grew from just over $10 million to nearly $180 million.
New Market Tax Credit: President Clinton initiated a focus on ‘New Markets,’ which sought to integrate the efforts of several government agencies and private sector actors to ramp up investment and business development in underserved and marginalized economic areas in the United States.
In an announcement of the New Markets Tour in 1999, President Clinton said, “Our greatest untapped markets are not overseas; they are right here at home.” Areas were prioritized based on high proportions of low-income people and included Appalachian Kentucky, the Mississippi Delta, Pine Ridge Reservation in South Dakota, East St. Louis, South Phoenix, and the Watts area of Los Angeles.
About the Clinton Foundation
Building on a lifetime of public service, President Clinton established the Clinton Foundation on the simple belief that everyone deserves a chance to succeed, everyone has a responsibility to act, and we all do better when we work together. For nearly two decades, those values have energized the work of the Foundation in overcoming complex challenges and improving the lives of people across the United States and around the world.
As an operating foundation, we work on issues directly or with strategic partners from the business, government, and nonprofit sectors to create economic opportunity, improve public health, and inspire civic engagement and service. Our programs are designed to make a real difference today while serving as proven models for tomorrow. The goal of every effort is to use available resources to get better results faster – at the lowest possible cost.
We firmly believe that when diverse groups of people bring resources together in the spirit of true cooperation, transformative ideas will emerge to drive life-changing action.