What Is Community Capital?
The Center for Community Capital takes its name from the concept of “community capitalism.” This term was coined in the 1990s by a group called the American Assembly. In their book, Community Capitalism: Rediscovering the Markets of America’s Urban Neighborhoods, the American Assembly writes that:
“By community capitalism we mean a for-profit, business-driven expansion of investment, job creation, and economic opportunities in distressed communities, with government and the community sectors playing key supportive roles. These supportive roles include, among others, rationalizing the regulatory environment, investing in public infrastructure and services that are normally available in nondistressed areas, improving the business environment, and assisting in developing a willing and work-ready labor force.”
This idea, that business, government, and community groups can work together to create shared prosperity, drives all our work today.