Economic Innovation Group

Economic Innovation Group
Name	Economic Innovation Group
Founded	2016
Location	United States
Type	Nonprofit public policy research organization
Focus	Economic revitalization, policy reform, regional growth

Economic Innovation Group is a nonprofit public policy research organization established to address regional disparities and promote inclusive economic growth in the United States. The organization engages in policy research, data-driven advocacy, and programmatic initiatives aimed at revitalizing distressed areas, enabling capital formation, and informing legislative debate. It collaborates with policymakers, philanthropic institutions, academic centers, and private-sector actors to translate empirical analysis into actionable reform proposals.

History

The organization was founded in 2016 amid debates following the 2016 United States presidential election and heightened attention to regional distress in the 2010s. Early work built on analytic approaches used by think tanks and policy institutes such as Brookings Institution, Urban Institute, and American Enterprise Institute while responding to research trajectories advanced by scholars at Harvard Kennedy School, Princeton University, and University of Chicago. Founding leaders drew on networks spanning Silicon Valley, Wall Street, and Capitol Hill, engaging stakeholders from organizations including Goldman Sachs, McKinsey & Company, and major philanthropic actors headquartered in New York City and San Francisco. Initial publications and congressional testimonies sought to influence debates in the United States Congress and discussions inside executive branch offices and state capitols, intersecting with legislative efforts like the Tax Cuts and Jobs Act of 2017 and debates over federal redevelopment programs.

Mission and Activities

The group’s mission emphasizes revitalizing economically distressed communities through data-driven policy, targeted capital deployment, and regulatory reform. Its activities bridge research and advocacy by producing empirical products similar to those of Pew Research Center and RAND Corporation, while convening cross-sector coalitions reminiscent of initiatives supported by Bill & Melinda Gates Foundation and John D. and Catherine T. MacArthur Foundation. The organization engages with state governments such as the administrations of Michigan, Ohio, and Pennsylvania as well as local governments in cities like Detroit, Cleveland, and Pittsburgh to pilot programs. It also provides testimony before committees of the United States Senate and the United States House of Representatives, and collaborates with university urban planning departments at institutions including Massachusetts Institute of Technology, Columbia University, and University of Pennsylvania.

Policy Research and Publications

Research outputs include data reports, policy memos, interactive mapping tools, and white papers aimed at foundations, legislators, and municipal leaders. The organization’s publications analyze geographic patterns of distress using methodologies comparable to those used by scholars at National Bureau of Economic Research, Council of Economic Advisers, and Federal Reserve Bank of St. Louis. Notable reports examine county-level indicators, small business capital gaps, and workforce outcomes; these studies have been cited in hearings before the Senate Banking Committee and in commentary from policy voices at The Wall Street Journal and The New York Times. The group has produced tools inspired by geospatial analytics from projects at Esri and data visualizations akin to work at ProPublica and FiveThirtyEight. Collaborative pieces have appeared with university centers such as Brookings Metropolitan Policy Program and academic journals connected to University of Michigan and Duke University.

Programs and Initiatives

Programmatic initiatives include efforts to connect capital to underserved places, pilot small-business assistance platforms, and advocate for tax and regulatory reforms designed to spur investment in distressed regions. The organization has promoted policy constructs similar to Opportunity Zones debates and engaged in dialogue with municipal revitalization efforts akin to Promise Zones and state economic development agencies like California Governor's Office of Business and Economic Development. It has convened summits featuring leaders from JP Morgan Chase, BlackRock, and regional development corporations such as New York State Homes and Community Renewal and Chicago Community Trust. Pilot projects have operated in metropolitan and nonmetropolitan areas, including collaborations with local chambers of commerce in Columbus, Ohio, workforce intermediaries affiliated with Cleveland Clinic, and community lenders comparable to Community Development Financial Institutions Fund partners.

Leadership and Organization

The organization’s leadership has included public figures with backgrounds in finance, policy, and philanthropy; boards and advisory councils feature executives from investment banks, law firms, and academic institutions. Leadership appointments have drawn attention from national media outlets such as Bloomberg and The Washington Post and have involved interactions with federal officials from agencies like the Department of the Treasury and the Department of Commerce. Organizational structure integrates research teams, policy advocacy staff, and program managers who liaise with state economic development offices in jurisdictions such as Kentucky and Arizona and with nonprofit intermediaries including Enterprise Community Partners.

Funding and Partnerships

Funding has come from a mixture of philanthropic gifts, corporate sponsors, and foundation grants, with partners and donors that include major philanthropic organizations and private-sector firms. The group has partnered with universities, municipal governments, and national nonprofits; collaborative projects have involved institutions like Harvard University, Stanford University, and national associations such as the U.S. Conference of Mayors. Grant relationships and program partnerships follow models used by philanthropic intermediaries such as The Rockefeller Foundation and Carnegie Corporation of New York and engage investors from the asset management community including firms similar to Vanguard and Morgan Stanley.

Category:Public policy think tanks in the United States