Over the past few days, I’ve been thinking a lot about domestic emerging markets—areas of the country that have potential future opportunity but only a small amount of current prosperity. Though Detroit is the primary example used in many discussions on this topic, The Upshot highlighted some of the other lesser known domestic emerging markets when it studied the hardest places in the U.S. to live based on a selection of criteria including unemployment and obesity rates along with median income, education level, disability rate, and average lifespan. They include: Eastern Kentucky along with parts of Mississippi, Louisiana, Georgia, Arkansas, and West Virginia.
When I consider how we could make an almost immediate and sustainable impact in these areas, my mind immediately turns to job creation. People in these areas need to have ways to earn income to get themselves out of their difficult financial situations. Venture for America is an interesting experiment placing young entrepreneurs with startups in areas such as New Orleans and Detroit. The Department of Commerce is also spending a lot of time studying these areas and potential ways to remedy their long struggles with a lack of opportunity.
But what about the middle ground? Startups and government can’t do this alone. These challenges are too complicated, extensive, and pressing. I’d like to see mid-size and large companies also jump in and make investments in these areas. And maybe that’s where some of my future work lies—jumpstarting structured businesses with resources, talent, and tested know-how to set up shop in geographic areas that have potential and need our attention.
Christa Avampato 