This model continues with us today. Public-private partnerships have become more common because they are often necessary to help revitalize downtown. The partnerships usually involve people from many different walks of life concerned about a particular issue. Corporations can t do it alone either. All constituencies in a community must play a part and, in some cases, pay the costs.
Competition is fierce today for economic development of urban areas.
In this discussion, we again see the importance of downtown to the identity of the entire region. This quality of life usually translates to certain amenities for the company s employees, things like museums, theaters, concert halls, restaurants and shops. In most cities, these are located in the downtown district. Even if the company won t be located downtown and none of its employees will live downtown, the inner city affects this quality of life. Companies are not likely to be enticed to a city that hasn t taken care of its downtown.