For immediate release
Contact: Kelly Antonacci, Media Relations
Philadelphia, PA — The Federal Reserve Bank of Philadelphia today launched its fourth Reinventing Our Communities (ROC) Cohort Program in 11 communities across the country. Each cohort of cross-sector community leaders is developing a locally tailored, multiyear plan to expand economic opportunities and strengthen their regional economy.
Participants are focused on improving regional access to workforce development programs or affordable rental housing. Participating communities include Camden, NJ; Easton, PA; Lancaster County, PA; and Lebanon County, PA.
During the 14-month program, communities are also engaging in webinars, coaching from national community development leaders, racial equity training, and peer learning.
The Philadelphia Fed is partnering on the program with the Federal Reserve Banks of Atlanta, Chicago, Kansas City, San Francisco, and Richmond, in addition to Equitable Cities Consulting, NeighborWorks America, and Race Forward.
Communities focusing on workforce development are:
- addressing the structural barriers that limit the full potential of workers and communities of color,
- ensuring that workforce development programs lead to jobs that pay living wages and support upward economic mobility,
- partnering with local employers to support workforce development strategies, and
- learning best practices for attracting and retaining talent to foster inclusive economic growth in rural and small urban areas.
Communities focusing on rental housing are:
- addressing the structural barriers that limit access to quality, safe, and affordable rental housing;
- partnering with local housing organizations to ensure that housing programs and tenant-based supports mitigate rental housing challenges; and
- exploring potential financing options and interventions that can increase housing opportunities within the community.
2024 Cohort Program Participants
- Camden, New Jersey*
- Central Oregon and the Confederated Tribes of Warm Springs
- Choctaw County, Oklahoma
- Decatur, Alabama*
- Easton, Pennsylvania
- Lancaster County, Pennsylvania
- Lebanon County, Pennsylvania*
- Linn County, Iowa
- Purple Line Corridor, Maryland
- Salt Lake County, Utah*
- Southwest Wisconsin
*Cohorts focused on workforce development.