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 many rural communities have been buffeted by the increasing prominence of automation and the knowledge-based economy, along with long-term challenges arising from lower educational levels, remoteness and other factors. As a result, many communities are at a crossroads, wondering which direction will lead to prosperity for all. Investing in Rural Prosperity seeks to help people living in rural areas navigate the challenges and opportunities they face to achieve a prosperous future.

View highlights from our 2023 Investing in Rural Prosperity event below.

Publication

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Investing in Rural Prosperity, published by the Federal Reserve Bank of St. Louis in collaboration with the Federal Reserve Board of Governors, seeks to help rural individuals and communities achieve shared economic prosperity.

By outlining a framework for how to approach rural development successfully and showcasing stories of progress in different communities—as well as highlighting opportunities for policymakers, practitioners, funders and researchers—the editors and authors hope to advance this important goal.

The book includes contributions from 79 authors in the United States and abroad who represent financial institutions, nonprofits, philanthropies, academia and government agencies.

The chapters touch on a wide range of topics, including entrepreneurship support, workforce development, energy-efficient manufactured housing and digital inclusion. The book delves into the challenges of our past and the promise of our future. Ultimately, Investing in Rural Prosperity is a call to action, so we can realize that promise—together.

The views expressed in the book do not necessarily reflect the views of the Federal Reserve Bank of St. Louis, the Board of Governors of the Federal Reserve System, or the Federal Reserve System.

Topic Summaries

A series of one-page documents summarizing key insights and lessons using content drawn from Investing in Rural Prosperity.

• The TRIC Framework (PDF)
• Capacity-Building (PDF)
• Economic Resilience (PDF)
• Inclusive Rural Development (PDF)
• Small Business and Entrepreneurship (PDF)

Podcasts

• 

  Rural Prosperity Series: This five-part series on the future of investing in rural prosperity is produced through a collaboration between the St. Louis Fed, the Federal Reserve Board of Governors and Rural Matters.

• Part I: Achieving Rural Prosperity. Released June 21, 2022.
• Part II: Driving Collaborative Investment in Rural Prosperity. Released Sept. 7, 2022.
• Part III: Breaking Infrastructural Barriers to Rural Prosperity. Released Sept. 12, 2022.
• Part IV: Advancing Rural and Native Prosperity. Released Sept. 29, 2022.
• Part V: Realizing Rural Prosperity. Released Nov. 9, 2022.

• Also listen to:

• A Framework for Rural Economic Development.
  Richmond Fed, Speaking of the Economy series, Nov. 10, 2021.
• Economic Equity: Rural Prosperity in Focus.
  St. Louis Fed, Timely Topics: Economic Equity miniseries, Oct. 13, 2021.

Articles and Blogs

• Recipes for Rural Prosperity as Populations Change.
  Sam Evans and Heather Hennerich. Open Vault, Dec. 13, 2023.
• Centering tribal values to improve prosperity in Native American communities.
  Andrew Dumont and Andrew Huff. FedCommunities, Nov. 9, 2022.
• Bucking the Trends, Some Rural Areas Thrive.
  Jennifer Wilding. Kansas City Fed, Community Connections, June 15, 2022.
• Building Rural Capacity for an Inclusive Recovery.
  Andrew Dumont and Sam Evans. St. Louis Fed, Open Vault, May 18, 2022.
• Supporting Entrepreneurship for Rural Economic Development.
  Andrew Dumont and Marysol McGee. Fed Communities, Feb. 10, 2022.
• Insights on Advancing Shared Rural Prosperity.
  Andrew Dumont and Sam Evans. St. Louis Fed, Open Vault, Dec. 8, 2021.
• New Book Shares Success Stories, Action Steps for Rural Prosperity.
  Jeremy Hegle. Kansas City Fed, Community Connections, Nov. 23, 2021.
• Why Inclusive Development Matters to Rural Communities.
  Sam Evans. St. Louis Fed, Bridges, Nov. 17, 2021.
• The “TRIC” to Fostering Shared Economic Prosperity in Rural America.
  Daniel Davis and Andrew Dumont. St. Louis Fed, Open Vault, Oct. 31, 2021.

Events

• 

  Investing in Rural Prosperity: A Framework for Advancing Shared Economic Prosperity in Rural Communities across the United States.
  Connecting Communities® webinar, Nov. 16, 2021.

• Investing in Rural Prosperity.
  Hosted by the Federal Reserve Bank of New York, May 24, 2022.

• Investing in Rural Prosperity: Successful Approaches to Demographic Shifts.
  Hosted by the Federal Reserve Bank of St. Louis, Nov. 14-15, 2023.
  Watch the event highlights.

Additional Resources

• 

  Rural community and economic development presentations, research, publications, speeches and related information from the Federal Reserve Board of Governors.

  Questions? Contact the Community Development Team.