Impact investors dedicated to strengthening local economies must change how they support local businesses—starting with redefining the problem the investors are trying to solve. It’s easy for impact investors to define success based on internal goals, such as filling the gaps between mainstream financiers, or creating a progressive “100% mission” portfolio. Instead, investors should define
ImpactAlpha, July 1 – Arctaris Impact Investors has launched a $40 million Opportunity Zone initiative invest in projects to revitalize the downtown corridor in Erie, Pennsylvania, including mixed-use real estate projects. The city of Erie has eight designated Opportunity Zones, “including some of the lowest-income zip codes” in the U.S., according to the Boston-based impact investor.
“It’s a great time for new entrants, but for those of us who’ve been doing this for a while it is equally urgent to raise our game right and to not get complacent,” said Margot Brandenburg of the Ford Foundation.