January 23, 2009

Market-Based Urban Development

The integration of market principles and economic development holds promise for innovative solutions to urban challenges.

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The Urban Markets Initiative (UMI) at the Brookings Institution Metropolitan Policy Program aims to improve the quality of the information available on urban communities and use it to unleash the full power of those markets while connecting them to the economic mainstream. Information influences investment decisions made in communities every day—whether to open a new store, to expand a warehouse, a bank’s decision on personal and business loans, or a family’s decision to purchase a new home. When information to make these decisions is inaccurate, unavailable, or inaccessible to urban investors, urban markets fail to thrive.

by Greg Berry

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