What Is the Economic Growth and Mobility Project?
The Federal Reserve Bank of Philadelphia works to strengthen our nation’s economy in ways that can create opportunity for all residents. The Economic Growth & Mobility Project (EGMP), a new initiative of the Philadelphia Fed, is a multilevel effort to bring entrepreneurial solutions to achieve inclusive economic growth and create pathways out of poverty in communities across the Third District and our nation. By leveraging the highly respected and valuable economic research produced by the Federal Reserve System and others, the EGMP will foster catalytic partnerships among public, private, and philanthropic stakeholders to achieve long-term economic improvements. The project will focus on the many ways that poverty influences the economy, highlighting the specific impacts of race and ethnicity, gender, and geography. A central component of the initiative will be in creating Research in Action Labs that promote research-informed practice, focusing specifically on community and individual solutions in the areas of job creation and job access, education and workforce, and affordable housing.