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Government leaders · Action plan

Local Economic Development Action Plan

Local governments influence economic outcomes through who they buy from, how they treat land and zoning, and how they connect residents and businesses to capital.

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Steps

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Step 1
Audit municipal procurement dataReview the last full fiscal year of contracts to see the share and dollar amount awarded to minority- and Black-owned businesses.
Step 2
Identify barriers in the bidding processReview bonding requirements, insurance minimums, and contract size thresholds that may exclude smaller local vendors.
Step 3
Streamline local MBE/DBE certificationSimplify and publicize your local minority/disadvantaged business certification process so more firms can qualify to bid.
Step 4
Set measurable supplier-diversity goalsAdopt a specific, published target for the share of municipal contract dollars going to minority-owned businesses.
Step 5
Review land use and zoning policy for equity impactAssess whether current zoning, land banking, and disposition policy help or block minority business and homeownership access.
Step 6
Partner with local CDFIs and Black-owned banksBuild referral relationships with CDFIs and Black-owned banks so residents and businesses seeking capital have a clear path.
- CDFI Fund state awards locator
- OFN CDFI locator
Step 7
Explore a local loan guarantee or microloan fundLook at SBA-backed local loan guarantee or revolving microloan programs to lower the risk barrier for small business lenders.
Step 8
Designate a small-business liaisonAssign one point of contact residents and business owners can reach for permitting, licensing, and contracting questions.
Step 9
Bring in or connect to an MBDA Business CenterExplore whether your region can host or partner with a federally funded Minority Business Development Agency center.
- MBDA Business Center locator
Step 10
Publish an annual economic inclusion reportReport procurement, permitting, and capital-access outcomes by demographic group at least once a year, publicly.
Step 11
Hold a public economic development forumGive residents and local business owners a standing venue to raise barriers and priorities directly to decision-makers.
Step 12
Review targets annually and adjustRevisit goals, barriers, and results every year and adjust policy where targets aren't being met.

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