in poor rural communities today, data at the national level show a strong economy. unemployment is near a half - century low, and economic output is growing at a solid pace. but we know that prosperity has not been felt as much in some areas, including many rural places. the federal reserve can help by carrying out our monetary policy mission of supporting maximum employment and price stability. we also support strong communities by conducting research, promoting community development, and enforcing laws like the community reinvestment act, which helps ensure that people have adequate access to financial services wherever they live. we not only work with communities, we are in communities, through the presence of our 12 regional reserve banks. poverty remains a challenge in many rural communities. indeed, 70 percent of the 473 “ persistent poverty ” counties in the united states are rural. 2 unemployment and mortality rates remain high in these communities. along with lower incomes and wealth, the rate of business start - ups in these areas is lower. and their residents have less access for a history of the role of hbcus, see, for example, todd greene and ashley bozarth ( 2018 ), “ the critical role of historically black colleges and universities in workforce development, ” in stuart andreason, todd greene, heath prince, and carl e. van horn, eds., investing in america ’ s workforce, vol. 1 : investing in workers ( kalamazoo, mich. : w. e. upjohn institute for employment research ), pp. 189 - 94 ; and ronald a. johnson ( 2018 ), “ hbcus as pipelines for diversified intellect, creativity, and innovation, ” in stuart andreason, todd greene, heath prince, and carl e. van horn, eds., investing in america ’ s workforce, vol. 1 : investing in workers ( kalamazoo, mich. : w. e. upjohn institute for employment research ), pp. 195 - 204. as defined in pl 115 - 31 as counties where 20 percent or more of the population live in poverty as measured by the u. s. census bureau in the 1990 and 2000 decennial censuses ( for more information, see https : / / www. census. gov / programs - surveys / saipe / guidance / model - input - data / decennial. html ) and the 2011 - 2015 american community survey ( https : / / www. census. gov / programs - surveys / acs / technicaldocum

may have gained from industries in decline, into profitable small businesses. 10 one example of a community taking this approach is clarksdale, mississippi. about 10 years ago, civic and business leaders assessed what made clarksdale special and how those characteristics could help the community thrive. since clarksdale calls itself “ home of the blues, ” attracting tourists using the local blues culture seemed promising. over the years, clarksdale has created new jobs by investing to improve its downtown, and has supported local businesses that cater to tourists interested in the community ’ s musical heritage. this growth is also creating new businesses not directly related to tourism - businesses such as urgent and primary care of clarksdale. dr. mary williams opened her urgent care facility last spring, partly in response to the closure of nearby quitman such support systems generally include consistent and easily accessible ways for potential business owners to find the advice, financing, and education they need to be successful. see federal reserve bank of kansas city ( 2015 ), grow your own : entrepreneurship - based economic development for local communities ( kansas city, mo. : frb kansas city ), https : / / www. kansascityfed. org / ~ / media / files / publicat / community / gyo / entrepreneurship - econ - dev - localcommunities. pdf. - 6county hospital. dr. williams worked with local organizations to develop a business plan and obtain the financing needed to open a business that is critical to the community. dewitt, arkansas, is another rural community where entrepreneurship is sparking a local revival. dewitt is a town of about 3, 000 people. like itta bena and many small towns, it has seen a steady decline in population over the past few decades. the economy there is a mix of manufacturing and agriculture, and many families have farmed the land for generations, such as the family of tami and troy hornbeck. the hornbecks grew up in dewitt, starting and eventually selling a successful business built on a new soybean varietal that grows well in the south. more recently, they have been helping lead a new industry in their community using waste vegetable oil from local restaurants and oil pressed from camelina, a crop farmers are beginning to grow locally. this cooperative effort involves a partnership between a community college, a university, the local government, farmers and restaurants, and a community development financial institution, or cdfi, among others. 11 while still in the early stages, it