Investing in Rural Prosperity
Rural communities throughout the United States are vibrant places, with great people, rich culture and heritage, and deep social ties. But recent structural changes to the economy, along with long-term challenges, have left many in these communities at a crossroads, wondering which direction will lead to prosperity for all. Investing in Rural Prosperity, a forthcoming book from the Federal Reserve Bank of St. Louis and the Federal Reserve Board, seeks to help people living in rural areas navigate the challenges and opportunities they face to reach a future in which economic prosperity is a reality.
This chapter outlines a new framework for fostering shared economic prosperity in rural communities. The authors’ proposed approach to rural development—abbreviated with the acronym “TRIC”—is tailored to the specific goals, assets and organizational infrastructures of communities. It is designed to be resilient in changing circumstances; inclusive about who is at the decision-making table and who benefits from local development; and promotes a collaborative process. The chapter explores each of the principles in the TRIC framework, including their meanings, their interconnectedness and interdependence, and their ability to inform and shape rural development.
Resources and Events
If you have any questions, please contact a member of the Community Development Team.