Monday, January 28, 2013
WHO? Working alongside the Indiana Association for Community Economic Development (IACED), and the Local Initiative's Support Corporation (LISC) the Institute is pleased to announce the Indiana Assets & Opportunity Network (Network).
WHAT?
The mission of the Network is to increase asset acquisition for low-wealth families and to strengthen local economies. The Network will deliver on its mission through policy advocacy and capacity building with local asset-building organizations and coalitions. The Network believes in financial education, access to mainstream financial services, and policies that provide income supports and asset acquisition.
WHY?
Prosperity in the 21st Century is based on creating and maintaining a sustainable standard of living and a high quality of life for all Hoosiers To meet this challenge comprehensive strategies are required. These strategies recognize the investment potential of the three sectors - public, private, and social sector. Comprehensiveness also recognizes the interdependence of family success, community prosperity, and economic competitiveness Collaborative work across sectors creates conditions for economic growth and employment generation. Currently, Indiana ranks 36th in the U.S. across 53 measures of the ability of its residents to achieve financial security. Here's a snapshot of Indiana data:
Prosperity in the 21st Century is based on creating and maintaining a sustainable standard of living and a high quality of life for all Hoosiers To meet this challenge comprehensive strategies are required. These strategies recognize the investment potential of the three sectors - public, private, and social sector. Comprehensiveness also recognizes the interdependence of family success, community prosperity, and economic competitiveness Collaborative work across sectors creates conditions for economic growth and employment generation. Currently, Indiana ranks 36th in the U.S. across 53 measures of the ability of its residents to achieve financial security. Here's a snapshot of Indiana data:
You can see the full 2012 Scorecard here.
Note: The 2013 Scorecard will be released on January 30th. To register for the release, please click here.
WHAT (can you do)?
For local asset-building organizations interested in partnering with the Asset and Opportunity network of Indiana, please click here.
WHAT (can Indiana do)?
- Increase Incomes and Encourage Savings: To address high income and asset poverty rates and boost net worth, Indiana should expand its Earned Income Tax Credit to maximize income for low-wage workers, and remove the disincentive for low-income families to save by lifting asset limits in public benefit programs.
- Protect Homeowners and Stabilize Communities: To address the high foreclosure and delinquent mortgage loan rates, Indiana should strengthen its policies around foreclosure prevention and protections.
- Create Jobs through Self-Employment: To help address unemployment and underemployment, Indiana should support microenterprises to create jobs through self-employment.
