The Benson Project: Urban Economic Renewal Strategies in Practice

Abstract

Efforts to stimulate economic renewal should include a consideration of renewal strategies to ensure their effectiveness and ultimate success. The following study presents four tenets of economic renewal, developed from the research and recommendations of scholars with expertise in the area of economic renewal. These tenets form the framework for the Benson Project. The four tenets of economic renewal are: 1) Provision of Sustainable Jobs/Wages, 2) Elimination of Spatial Mismatch, 3) Community Involvement, 4) Efforts to Recycle Resources. The Benson Project will practically apply these tenets of renewal through the development of a business plan for a business that will provide jobs and economic opportunities within an impoverished urban community in Atlanta, Georgia. The business plan will incorporate the four tenets of economic renewal to create positive and lasting change within the target community. The study presents a detailed discussion of the four tenets of economic renewal and provides examples of their practical application in renewal efforts in Savin Hill, Massachusetts and Norristown, Pennsylvania. Additionally, the study identifies resources available to aid in the implementation of the four tenets, and provides a detailed description of the goals of the Benson Project based on the framework of the four tenets. Finally, the study concludes with a presentation of the business plan that will serve as a practical application of the four tenets of economic renewal. [From Introduction]