CENTER FOR SOCIAL VALUE CREATION

SMITH EXPERIENCE:COMMUNITY WEALTH BUILDING PRACTICUM

SARA HERALD, ASSISTANT DIRECTOR

October 1, 2014

Community Wealth Building Practicum

Learn about the worker cooperative business model

Work collaboratively across disciplines to start real businesses with transformative social implications

Cultivate relationship-building and leadership skills

Apply project management principles in real, dynamic situations

Present your work to multiple stakeholders

across the public, private, and nonprofit sectors

Community Wealth Building?A new approach to Economic Development that: promotes broader ownership of capital anchors jobs locally stops the leakage of dollars from communities supports individual and family wealth building reinforces stewardship leverages anchor institutions for community benefit contributes to local economic stability

BUILDING COMMUNITY WEALTH TOTRANSFORM CLEVELAND AND CHANGE LIVES

EVERGREEN COOPERATIVE INITIATIVE

Create Jobs Generate Wealth for Residents

Stabilize Neighborhoods

Bringing it to Baltimore: Background

2013: Initial research conducted 90 anchor and stakeholder interviews 40 potential business ideas generated

Spring 2014: First practicum (MBA/MSW) Initial feasibility studies on 12 business ideas Basic community outreach 5 ideas recommended for further analysis

Fall 2015: Cultivating a vision Legal research on worker cooperatives in MD Collaborative proposal

Bringing it to Baltimore: CWB Practicum

Work with business, law and social work students, along with a local community partner, to lay the foundation for one of the following businesses in West Baltimore: Greenhouse Furniture

Recycling/Refurbishment Compost Collection, Processing,

and Sales Interior Property Demolition Stormwater Management

Logistics (4 credit experience) 3 teams of 6 (2 business, 2 law, 2 social work)

6 MBA slots total, likely mix of FT and PT MBAs Mixture of class time and independent work Business launch plan for one business per team

Financials, capital requirements, financing options Site identification and regulatory requirements Identifying and educating community workforce

Presentation to wide array of stakeholders Possibility for summer work

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THANK YOU FOR YOUR TIME TODAY!

sherald@rhsmith.umd.edu

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