Mastercard Launches Toolkit to Help Community Leaders Drive Sustainable, Inclusive Growth
Groundbreaking Inclusive Growth Toolkit reveals new insights about the nature and potential of Qualified Opportunity Zones (QOZs)
Toolkit provides more timely, local data-driven insights for community leaders to encourage sustainable, long-term investment
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(Graphic: Business Wire)
For the first time, the new Inclusive Growth Toolkit brings together a clear, simple view of social and economic growth in underserved communities across the U.S., at the census-tract level. This was created in response to growing demand from community leaders for more evidence-based insights, to help them steer impact investment dollars to locally-led economic development initiatives, unlock the potential of neighborhoods, and improve quality of life for all.
The Inclusive Growth Toolkit includes:
- The Inclusive Growth Score, an interactive online map where users can view measures of inclusion and growth and then download a PDF Scorecard for any of the QOZs at census tract level
- A deep-dive analytics consultancy service that provides community leaders with customized insights to inform policy decisions, prospectus development, and impact investor discussions
The initial design of the toolkit is focused on driving sustainable growth for the more than 37 million people living in the 8,700+ QOZs throughout the U.S. This comprehensive picture reveals that neighborhoods can look very different and may require different types of interventions to achieve successful and sustainable growth.
To date, stakeholders have often relied on generalized, outdated sources of information that aren’t connected. This new approach provides one simple view, bringing together a broad set of sources, including publicly available information1, firmographic data from third party data providers and unique and timely insights based on Mastercard’s anonymized and aggregated transaction data.
“To achieve better outputs we need to ensure better inputs,” said
The Inclusive Growth Score uses 18 different metrics under three pillars (place, economy and community) to reflect the social and economic profile of a neighborhood and the potential it may hold. It also provides a baseline from which to understand change as investments start to flow. Example metrics include: percentage of affordable housing, growth in small business loans, growth in spending and early education enrollment. Scores for both inclusion and growth can be viewed and compared against all QOZs in the U.S., in the same state, in the same metro area, or in the same urban code.
The methodology was developed with input from the
Local Community Engagement
“Initially, outside consultants recommended a 20-25 year development plan. But thanks to Opportunity Zones and other factors, such as Mastercard’s data-driven insights, we have shortened this development plan to 5 years,” said
“When we’re trying to create economic activity in challenged areas, we’re often held back by perceptions,” said
“The insights can help local advocates fight the battle of perceptions in the developer and investor communities. These insights are not for what the community was, but for what can be. It allows us to forecast a better life in these communities,” said
1 Data from the
Source: Mastercard Investor Relations