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Childcare Facility Financing: Perspectives from Three Decades of Supporting Childcare Centers
As part of the Federal Reserve Bank of Chicago’s Spotlight on Childcare and the Labor Market, this article focuses on the ways in which the lack of access to childcare is a barrier to employment in the Seventh District. We spoke with Joe Neri, CEO of IFF, a community development financial institution (CDFI) that has served the Midwest childcare sector for more than 30 years.
Community Development Snapshot: Working Alongside Rural Communities to Expand Housing Opportunity
The number of cost-burdened renters—those spending over 30% of their income on housing—has reached an all-time high. This trend is reflected in many communities across the Seventh Federal Reserve District: Renters in urban centers, such as Chicago, Detroit, and Milwaukee, as well as those in rural areas, face increasing rent costs that outpace wage growth.1 In many of these places, affordable housing supply remains limited, while demand continues to grow, exacerbating housing insecurity and reinforcing the need for inclusive housing solutions.
Perspectives of Small Business Intermediaries in Chicago: A Snapshot from Spring 2025
The small business ecosystem in the greater Chicagoland area includes over 130 business service organizations (BSOs) that offer advice, training, and workshops to entrepreneurs at various stages of business development. Small businesses make an important contribution to the U.S. economy, and they are often up against tremendous odds to survive. BSOs are a good source for identifying the concerns of the small businesses that they work with, and as the economic and policy environment evolves, BSOs themselves are facing a growing number of issues.