Survey after survey reveals a large percentage of Americans remain concerned about their economic well-being. Our research shows these anxieties are not misplaced. The U.S. economy has become less dynamic since the Great Recession — more businesses have closed than opened, the rate of new business formation remains near an all-time low, and workers are finding it more difficult to change jobs, move to other states, and earn higher wages.
Sure, the economy has grown, but this growth has been heavily concentrated in major cosmopolitan metro areas, largely bypassing the 50 million Americans living in economically distressed communities.
The good news is that Rep. Pat Tiberi is leading the charge to reverse these trends for Ohio residents living in distressed areas by sponsoring the Investing in Opportunity Act. This bipartisan legislation is designed to inject new life into America’s economic engine through an innovative approach that connects “left behind” communities with the long-term private capital investments they desperately need. This legislation will be particularly helpful for Ohio, where 17 percent of the population lives in economically distressed zip codes and continues to face economic headwinds despite years of national recovery.
At a time when the American Dream seems in doubt for many, Rep. Pat Tiberi deserves credit for working to ensure every Ohio community has a chance to thrive.
John Lettieri is the co-founder of the Economic Innovation Group, a bipartisan research, policy, and advocacy organization in Washington D.C.
By: John Lettieri, The Columbus Dispatch
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