ISSUE 147 | March 9, 2022

The Institute is an economic research and applied research and consulting group that provides customized client solutions and strategies to facilitate decision making and planning that enhances growth, impact, and sustainability for organizations.

From Around the Region and the State Economic and Policy News

PA among 21 states investigating use of cryptocurrency  Miami’s cryptocurrency, MiamiCoin, has generated over $21 million in just a few months. Dividends will be shared as cryptocurrency, and residents may be able to use the currency to pay taxes and fees in the future. PA’s HB1724, among others, involves establishment of a task force to evaluate the use of digital coin as well as ethics and disclosure as they relate to public office and the use of crypto. Click here to read the full article Influx of refugees and immigrants has sparked growth in Lancaster Between 2009 and 2014, 2,154 refugees settled in Lancaster. They contributed $1.3 billion to the county GDP in 2014 and over 1,000 are self-employed. As they tried to find safe communities to raise their families, they have created major economic impact – such as increased housing values and population growth while the majority of the Commonwealth is on the decline.  Click here to read the full article Philly initiative for homeless LGBT youth is nearing sunset The Way Home Project, based in Philadelphia, has successfully housed dozens of LGBT youth. It still struggles to accommodate demand while ensuring sufficient landlord participation, however. The program, funded by Cares Act dollars, subsidizes rent for up to one year.  Click here to read the full article

From Around the Nation and the Globe Economic and Policy News

Cities struggle to attract remote workers – except Tulsa Cities across the nation are competing to attract remote workers, with Tulsa among the most successful. The city acquired funding from private foundation grants, and offers incentives of $10,000 while also building parks and a special program for Black residents to train in tech fields. With the help of state funding, the program is being replicated in other Oklahoma cities.  Click here to read the full article Federal Bank of Atlanta assesses systemic racism through benefits cliff  Structural racism still affects people at all levels of the wealth-building process. An article from the Federal Reserve Bank of Atlanta explains how higher effective tax rates, benefit cliffs and plateaus, and gaps in safety net programs adversely impact people of color. The publication concludes with recommendations for practice and policy. Click here to read the full article Evidence suggests that soda taxes are effective  In is the most comprehensive study on soda taxes yet, years of shopping data suggest that purchase of sugary drinks in Seattle has declined by nearly 20 percent. The study used a control group and measured sugar content by drink to evaluate the drop. Data was gathered on pre-tax and post-tax bases, from 45 percent of the city’s grocers. Click here to read the full article

Research Spotlight! The Institute's Education and Workforce Development Task Force has recently explored the nuances of remote workforce attraction in Northeastern Pennsylvania. Use the link to read the study, titled 'Talent Attraction, Development, and Retention' - along with more than a decade of research! Click Here

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