Ross DeVol
Region can excel with plan, report says

To generate such an economic recovery strategy, Heartland Forward (HF) has undertaken an extensive and detailed analysis of the NWA region’s strengths, challenges and opportunities.

On today's show, we hear about a new report from Heartland Forward that lays out a strategy for economic recovery from the COVID-19 pandemic for the Northwest Arkansas region.

Dave Shideler and Jonas Crews
Initial unemployment claims rose significantly last week, as nearly 80,000 more people applied for unemployment insurance benefits than in the prior week.

Initial unemployment claims remained steady with last week; seasonally adjusted claims fell by 1.1 percent, but unadjusted claims rose by 0.7 percent.

By Julie Trivitt
Nationwide data indicates the economic effects of the pandemic have been disproportionately harmful to women’s careers.

Dave Shideler and Jonas Crews
While retail businesses in 10 states across the Heartland received a share of PPP loans greater than or equal to their share of total firms, retail businesses in the other 10 states and other services businesses in all states did not receive their fair share.

“You can’t separate the economy’s performance from the performance of keeping COVID-19 infection rates and death rates down. Clearly, they’re related,” said Ross DeVol, president and CEO of Heartland Forward.

Dave Shideler and Jonas Crews
Manufacturers in Ohio had the highest participation rate in PPP among Heartland states.

Dave Shideler and Jonas Crews
Hospitality industry businesses across the Heartland likely did not receive their fair share of loans in PPP.

Ross DeVol, president of Heartland Forward, a think tank in Arkansas, described the situation in Idaho Falls and other small cities like it as “to some extent, they got lucky because of their underlying industry structure.”

A recent study from Heartland For­ward demonstrates, outside of Florida and the southeast coast, the cities growing fastest have been in the Heartland—Dallas–Fort Worth, Houston, Austin, Nashville, Columbus, Indianapolis, and Des Moines.

“The truth is that to some extent they got lucky because of their underlying industry structure,” says Ross DeVol, president of Heartland Forward, a think tank in Bentonville, Ark., focused on improving the economy in the center of the country.

Brit Morse
The results are even less positive in the South and Midwest. Black- and Latinx-owned businesses represent about one-fifth of all companies in Alabama, but received just 7 percent of PPP loans, according to a new report from Heartland Forward, a Bentonville, Arkansas-based nonprofit focused on improving economic performance in the Midwest.

"Knowledge-intensive young firms have a higher probability of achieving middle-market status where they can generate rapid job gains for their communities," per Heartland Forward.

Declining economic mobility for low-income households is a well-documented phenomenon with roots in overall rising inequality. But with this report, we take the conversation a step further, focusing on the Heartland region and exploring the factors behind economic opportunity.

Recent research from think tank Heartland Forward draws a clear link between strong entrepreneurial ecosystems and economic success. Cities with a higher share of employment at young firms, and particularly where employees at those young firms have a bachelor’s degree or higher, saw notably faster employment growth over the past decade.

A report in May by Heartland Forward, a think-tank of the Walton family (who own Walmart), laments that old, big companies do well in the region, but young firms rarely flourish. That is especially true in places that fail to encourage research and innovation.

Page 4 - Recent research from think tank Heartland Forward draws a clear link between strong entrepreneurial ecosystems and economic success.

That new claims for Arizona jobless benefits have mostly leveled out in recent weeks might indicate Arizona's tourism sector hasn't been hit as hard as those of many other states, said David Shideler, chief research officer at Heartland Forward, which tracks economic activity in middle America.

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Young firms born out of entrepreneurship today are our country's large employers tomorrow. Moreover, new Heartland Forward analysis draws a clear link between strong entrepreneurial ecosystems and economic success.

Millennials are also looking for places that have invested in public infrastructure like parks, and recreational and cultural activities. And they’re interested in jobs with a future.

Omaha is a rising star in the race for a new generation of entrepreneurs, according to Ross DeVol, who runs Heartland Forward, an institute focused on economic renewal in the Midwest.

On behalf of Innosphere Ventures and Heartland Forward, you are invited to join us for a webinar as we discuss two new reports on venture capital, dig into the data behind recent VC trends, and talk about how startups and entrepreneurs can power the economic recovery.

Ross DeVol, Guest columnist
Recent research from think tank Heartland Forward found that cities with strong entrepreneurial ecosystems see notably faster employment growth.

Heartland Forward, identified 20 top entrepreneurial ecosystems across America based on the share of employment by small firms, and the number of college-educated employees in those firms.

Richard Florida, Heartland Forward Senior Fellow, University of Toronto Professor, and NYU Fellow, discusses his co-authored 10-point plan on how cities can prepare for the future.

Jonas Crews, Ross DeVol, Richard Florida and Dave Shideler

Panelist Ross DeVol and others provide insight into the COVID-19 Heartland aftermath.

Heartland Forward Senior Fellow Joel Kotkin and his contributors address a fundamental topic for future economic success in the Heartland