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Brooklyn businesses got a boost last Wednesday when the Brooklyn Economic Development Corporation teamed up with the Initiative for a Competitive Inner City (ICIC), a national not-for-profit, to unveil the Initiative for a Competitive Brooklyn (ICB), an economic development plan. The ICB will use a model developed in part by Michael Porter, Harvard Business Professor and founder of the ICIC, to attract business to Brooklyn and create more jobs for its residents. Rather than using government to reduce poverty through social services, he suggests making the city more business-friendly and allowing the private sector to create jobs and wealth. By gathering the right leaders from all sectors, conducting research, and including low-income residents, ICB hopes to build a prosperous future for the borough. Target clusters include food processing, hospitality, tourism, arts and culture, real estate development, and health services. ‘It’s not rocket science,” said Porter, it’s about “rolling up your sleeves.”
-C. Menchacha