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Crossroads' innovative Neighborhood Income Statement and Balance Sheetstudies
show how money
and resources flow through low-income locales.
Our studies of local economies place us at the forefront of Community Economc Development (CED) efforts nationally. Crossroads' thorough studies of local economies See Neighborhood Income Statement and Balance Sheet studies offer a powerful tool for community groups to use to assess the strengths and limitations of their local economy. Another useful tool is Crossroads' position paper "Neighborhood Commercial Development for the Long Term" showing that building strong neighborhood commercial districts involves building wealth for local residents. To order copies of Crossroads' Neighborhood Income Statement and Balance Sheet studies, Click here.
In these studies, covering 13 lower-income Twin City neighborhoods studied so far, a net total of $650 million EACH YEAR has been tracked flowing out of the neighborhoods as residents purchase daily essentials.
Five studies have been completed to date. These include:
To find a summary of these studies, click the link below for "Neighborhood Balance Sheets Assess Local Economies," a working paper written by Crossroads president Ken Meter [PDF format].
Further details on the neighborhoods studied:
Phillips is a very low income neighborhood of 17,000 just south of downtown Minneapolis, with a mix of Native American, African, African-American, Asian-American and European-American residents. Phillips contains one of the largest urban Native American communities in North America as well as a district of workers' homes (that have just been declared of historic value), several large former mansions, and two major hospitals. Until recently, it contained the world headquarters of the Honeywell corporation.
Frogtown is a very low income neighborhood in St. Paul located west of the Minnesota State Capitol. More than 14,000 African-American, Asian-American and European-American citizens dwell here. Regions Hospital, Gillette and Health East hospitals are also located in Frogtown.
Dayton's Bluff. Formerly a neighborhood of factory workers and downtown office staff, Dayton's Bluff boasts a rich and colorful history centered on Swedish, Mexican, Irish, and Italian immigrants. New African-American and Asian-American communities are growing rapidly, as is the largest Native American community of St. Paul. Here, Metropolitan State University has its main campus in this neighborhood of 19,000. A resident group created a visionary master plan for the revitalization of this neighborhood and a nearby creek.
Powderhorn is a neighborhood of 7,000 located just south of the Phillips neighborhood (south of Lake Street) in South Minneapolis. Powderhorn has a strong mix of African-American, Asian-American, and European-American residents living in homes that were primarily built in 1910 to 1930.
Camden Community consists of 9 neighborhoods in the northwest corner of Minneapolis, including the Cleveland, Folwell, Hawthorne, Jordan, Lind-Bohanon, McKinley, Shingle Creek, Victory, and Webber-Camden neighborhoods. This formerly white middle-income area is undergoing a rapid transformation as African-American and other new families move in. Camden has 27,000 residents and three industrial parks.
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Crossroads Resource Center / PO Box 7423 / Minneapolis, Minnesota USA / (612) 869-8664