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Federal Reserve Bank of San Francisco
Community Development Investment Review
A vision for the future of rural developmental venture capital
L. Ray Moncrief
Grady S. Vanderhoofven
Abstract

The era of recruiting smokestack industries and getting deep subsidies from the federal government to revitalize local economies is over. The economic future of struggling economies across the country will come from those communities themselves, based on local assets, local ideas, and driven by local entrepreneurs. To spark this growth, rural communities will need community development venture capital (CDVC) to help bring them back into the economic mainstream.


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L. Ray Moncrief & Grady S. Vanderhoofven, "A vision for the future of rural developmental venture capital" , Federal Reserve Bank of San Francisco, Community Development Investment Review, issue 3, pages 29-35, 2006.
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