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Chicago Booth Study Charts U.S. Bank Success in Revitalizing Pullman
A new study from the University of Chicago’s Booth School of Business says U.S. Bank’s “place-based investments” in the South Side’s Pullman neighborhood provide a model that can be replicated in revitalizing other communities. The Chicago Booth study’s key recommendation, “Invest big—no drops in the bucket,” calls for a long-term commitment to the community.
“We believe banks are in business to do three things: economic development, workforce development and community development,” said Zack Boyers, president and CEO of U.S. Bank subsidiary U.S. Bancorp Community Development Corporation. “When we think about a time where all three of those come together, we think about our work in the Pullman community.”
Over the past decade, U.S. Bank has invested more than $120 million, driving $400 million in investments in the Pullman community. Among other results, these investments have helped drive down Pullman’s unemployment rate at a faster rate than Chicago as a whole.
Pictured: Gotham Green facility in Pullman.
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- ◦Economy
- ◦Financing
