Tag: Economic Innovation Group

Welch Urges Gov. To Nominate Maywood As Economic Opportunity Zone

Tuesday, March 13, 2018 || By Michael Romain || @maywoodnews 

An area lawmaker is requesting that Gov. Bruce Rauner consider Maywood for a new federal tax incentive that its proponents say could lure jobs and economic development to distressed communities.

Continue reading “Welch Urges Gov. To Nominate Maywood As Economic Opportunity Zone”

Study: Maywood, Bellwood Ranked Among Most Distressed Communities in U.S.

Distress mapThursday, March 3, 2016 || Originally Published: Atlantic City Lab || 2/26/16 || By Richard Florida and Aria Bendix 

More than 50 million Americans live in economically distressed communities, according to a startling new report from the nonprofit Economic Innovation Group. The report, which examines economic distress across tens of thousands of ZIP codes, finds one-fifth them to be in economic distress. In the average distressed ZIP code, around 25 percent of adults lack a high school diploma, and a whopping 55 percent are not working.

The map below paints a stark picture of neighborhood distress and spatial inequality across the United States. Dark red shows the most distressed neighborhoods, light red reflects distressed places, relatively prosperous communities are in lighter green, and the most prosperous communities are in dark green. In the period of recovery following the Great Recession, the authors find, jobs in the median U.S. ZIP code grew at less than half the national rate. While some communities are currently enjoying the fruits of the recovery, others have sunk further into poverty. According to the authors, this pattern of distress vs. prosperity not only “diverges between cities and states but even more starkly within cities at the neighborhood level.”

The report’s findings are based on a new Distressed Community Index, which maps community well-being in the U.S. down to the neighborhood level. It covers over 26,000 ZIP codes, 3,000 counties, and nearly 800 cities based on data from the U.S. Census Bureau. Areas are scored based on an equal weighting of seven variables, including poverty rates, housing vacancy, unemployment, and changes in the number of local businesses.

To read more, click here. VFP

COMMUNITY DATA BY SELECT MUNICIPALITIES/ZIP CODES IN PROVISO TOWNSHIP

MAYWOOD

  • Population || 24,160
  • Density || Very High
  • No High School Degree || 21%
  • Housing Vacancy Rate || 17%
  • Adults Not Working || 50%
  • Poverty Rate || 21%
  • Median Income Ratio || 77%
  • Change in Employment || 1.5%
  • Change in Businesses || 1.3%
  • Distress Score || 84.4
  • Distress Rank || 4107 of 26290 || 16th percentile 

BELLWOOD 

  • Population: 19,080
  • Density || Very High
  • No High School Degree || 17%
  • Housing Vacancy Rate || 10%
  • Adults Not Working || 42%
  • Poverty Rate || 13%
  • Median Income Ratio || 89%
  • Change in Employment || -16.7%
  • Change in Businesses || -2.2%
  • Distress Score || 72.4
  • Distress Rank || 7247 of 26290

BROADVIEW

  • Population: 7,950
  • Density || Very High
  • No High School Degree || 9%
  • Housing Vacancy Rate || 7%
  • Adults Not Working || 45%
  • Poverty Rate || 11%
  • Median Income Ratio || 94%
  • Change in Employment || 10.1%
  • Change in Businesses || 7.2%
  • Distress Score || 30.1
  • Distress Rank || 18384 of 26290 

MELROSE PARK

  • Population: 25,590
  • Density || Very High
  • No High School Degree || 34%
  • Housing Vacancy Rate || 8%
  • Adults Not Working || 38%
  • Poverty Rate || 16%
  • Median Income Ratio || 80%
  • Change in Employment || 2.8%
  • Change in Businesses || 3.9%
  • Distress Score || 59.7
  • Distress Rank || 10608 of 26290