Public Banks: Bank of North Dakota

The state-owned Bank of North Dakota operates as a kind wholesale bank by offering partnership loans that effectively expand the lending capacity of local banks and credit unions. Thanks in large part to BND, North Dakota has the largest number of local banks and credit unions per capita of any state, and these local financial institutions account for a remarkable 83 percent of the market. Our research shows that having a robust local banking system pays off in big ways for North Dakota, including by providing a significantly higher volume of loans to finance local businesses and farms. … Read More

Internet Sales Tax Fairness — Economic Nexus and Marketplace Nexus — Washington

In September 2015, Washington passed a law that creates an economic nexus in the state. It expanded that law in July 2017. Washington also passed a law, effective January 1, 2018 — the first of its kind to take effect in the nation — that requires platform or “marketplace” companies to either collect sales tax on goods sold by third-party sellers to Washington purchasers through their platform or follow requirements for use tax notice and reporting. … Read More

FCC Opinion and Order Strikes Down Local Authority Limits in TN and NC

March 13, 2015 – The FCC has found that it has the authority to remove aspects of Tennessee and North Carolina law that limit local authority to build or expand Internet networks. While the ruling extends only to communities in Tennessee and North Carolina, it stands to benefit communities all over the nation that want to reap … Read More

Customer Cooperatives

One way that residents of a community can jointly capitalize a new local business is by starting a cooperative, a business that is owned by its member-customers, who provide the necessary capital in the form of member dues, govern the business democratically, and receive a share of any surplus or profits.… Read More

Community-Owned Stores

Another approach to community ownership of commercial spaces is to create a community-owned store that is structured as a local stock corporation. There are at least a dozen examples of these around the country. One of the best-known is the Powell Mercantile in Powell, Wyoming. Founded in 2002, this profitable downtown department store is owned by about 800 local families who capitalized the business by buying shares priced at $500 each.… Read More

Investment Cooperatives

In the vacuum left by traditional economic development and Wall Street’s approach to finance, investment cooperatives allow communities to put their capital to work in their local economy, catalyze the creation of new jobs, re-imagine their neighborhoods, and earn a return on their investment.… Read More

Community Ownership of Commercial Spaces

Community ownership of commercial spaces offers benefits that include new jobs in the neighborhood, strong incentives for people to shop locally, local sources for key goods, closer ties with neighbors, and in some cases, a return on investment.… Read More

Protecting Chain Retail Workers

Enacted at the end of 2014, the San Francisco Retail Workers Bill of Rights requires large retail and restaurant chains to give workers advance notice of their schedules and offer part-time employees access to more hours before hiring additional people.… Read More

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