WASHINGTON, January 15, 2014 — The Obama Administration has announced that it has added San Antonio, Philadelphia, Los Angeles, southeastern Kentucky, and the Choctaw Nation of Oklahoma to his “Promise Zone Initiative”.
This allegedly means that these “zones” will be given increased federal funding, tax incentives and grants to “improve education, access to housing, and “help reduce crime”.
Each of the Promise Zone regions are said to be “tied with a major employer.”
In the eastside of San Antonio is a partnership with St. Philip’s College. In west Philadelphia, the program includes Drexel University.
This is a good idea on paper. The problem is that it simply doesn’t work because it is not a true free market solution and does nothing to develop and cultivate true economic independence.
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