State &
Local Investments
ARTICLES
Phil Angelides, “A California Investment Policy for the 21st Century.”
California Policy Issues Annual, Nov. 2001, pp. 3-10.
article-angelides.pdf
(157KB)
Ralph Brave, “It’s a CalPERS world: Can the investment behemoth
pursue social goals, as well as mind the bottom line for its retirees?”
Sacramento News & Review, May 17, 2007.
article-brave.pdf
(220KB)
U.S. Department of Labor (DOL), 29 CFR 2509.94-1 – Interpretive
bulletin relating to the fiduciary standard under ERISA in considering
economically targeted investments. Washington, D.C.: DOL, 1994.
www.dol.gov/dol/allcfr/Title_29/Part_2509/
29CFR2509.94-1.htm
Mark Drabenstott, “Rethinking Federal Policy for Regional Economic Development,”
Economic Review, Kansas City, MO: Federal Reserve of Kansas City, first quarter
2006, pp. 116-142.
article-drabenstott.pdf
(193KB)
Chris Gabrieli, “Economically Targeted Investments: Key Factors for Success.”
Boston: Northeast State Treasurers and the National Association of Unclaimed
Property Administrators Conference, Aug. 22-25, 2004.
article-gabrieli.pdf
(120KB)
William Greider, “The New Colossus.” The Nation, February 28,
2005.
www.thenation.com/docprint.mhtml?i=20050228&s=greider
Lisa A. Hagerman, Gordon L. Clark, and Tessa Hebb, “Investment Intermediaries
in Economic Development: Linking Public Pension Funds to Urban Revitalization,”
Community Development Investment Review, San Francisco, CA: Federal Reserve,
vol. 3, no. 1, pp. 45-65.
article-hagerman-et-al.pdf
(364KB)
Doug Hoffer, “Public Pensions: The Multiplier Effect,” Communities
& Banking, Fall 2006, pp. 12-14.
article-hoffer.pdf
(169KB)
Gene J. Koprowski, “State-Run Venture Funds Picking Up Slack for Private
VCs,” Tech News World, May 13, 2005.
article-koprowski.pdf
(64KB)
Dan Loague, “Enterprising Capital: Bringing the Knowledge-Based Economy
Home.” Economic Development America, Spring 2004, pp. 16-18.
article-loague.pdf
(350KB)
Victor B. MacFarlane, “Urban Real Estate: From Investment Fringe to Mainstream
Strategy, PREA Quarterly, Fall 2007, pp. 68-70, 72, 74.
article-macfarlane.pdf
(692KB)
Athena D. Merritt, “N.J. businesses and retirees to benefit from investment fund.” Philadelphia Business Journal, September 24, 2007.
article-merritt.pdf (100KB)
Richard H. Moore, “State Treasurer Richard Moore Announces
Landmark Public Pension Fund Investment Initiative.” Raleigh:
North Carolina Department of State Treasurer, July 1, 2002.
article-moore.pdf
(225KB)
*NEW*
Anna Steiger, “Linking Institutional Investors to Communities,” Communities & Banking, Boston, MA: Federal Reserve Bank of Boston, summer 2008, pp. 13-15.
article-steiger.pdf (135KB)
BOOKS
Susan E. Clarke and Gary L. Gaile, The Work of Cities. Minneapolis:
University of Minnesota, 1998.
Peter K. Eisinger, The Rise of the Entrepreneurial State: State
and Local Economic Development Policy in the United States. Madison:
University of Wisconsin, 1988.
*NEW*
Richard M. McGahey, “Regional Economic Development in Theory and Practice,”
In Richard M. McGahey and Jennifer S. Vey, Editors, Retooling for Growth: Building
a 21st Century Economy in America's Older Industrial Areas, Washington, DC:
Brookings Institution, March 2008.
chapter-mcgahey.pdf (150KB)
Robert Shively, Economic Development for Small Communities. Washington,
D.C.: National Center for Small Communities, 2004.
PAPERS
Gar Alperovitz and Steve Dubb, "City, County, and State Policies and Actions
that Build Community Wealth," The Democracy Collaborative, April, 2005.
paper-alperovitz.pdf
(154KB)
Michael Calabrese, “Building on Past Success: Labor-Friendly Investment
Vehicles and the Power of Private Equity,” The Second National Heartland
Labor Capital Conference, Washington, DC: Heartland Labor Capital Research Project.
April 1999.
paper-calabrese.pdf
(113KB)
Gordon L. Clark and Tessa Hebb. Why Do They Care? — The Market for Global
Corporate Responsibility and the Role of Institutional Investors. Presented
at the Using Pensions for Social Control of Capitalist Investment conference.
Madison: The Havens Center-University of Wisconsin, June 2004.
paper-clark.pdf
(100KB)
*NEW*
Lisa A. Hagerman, More Than a Profit? Measuring the Social and Green Outcomes
of Urban Investments, Labor & Worklife Program Harvard Law School, July
2007.
paper-hagerman.pdf (1MB)
Lisa A. Hagerman, Gordon L. Clark, and Tessa Hebb, Investment intermediaries
in economic development: Linking pension funds to urban revitalization, Oxford,
England and Cambridge, MA: University of Oxford, School of Geography at the
Centre for the Environment and Harvard Law School, Labor and Worklife Program,
Pensions & Capital Stewardship Program, February 2007.
paper-hagerman-et-al.pdf
(1.2MB)
Lisa A. Hagerman, Gordon L. Clark, and Tessa Hebb, “New York Case Study:
Competitive returns and a revitalized New York,” Pension Funds and Urban
Revitalization, Cambridge, MA: Harvard Law School, Labor and Worklife Program,
October 2005.
paper-hagerman05.pdf
(960KB)
Lisa A. Hagerman, Gordon L. Clark, and Tessa Hebb, “Massachusetts Pension
Reserves Investment Management Board: urban investing through a transparent
selection process,” Pension Funds and Urban Revitalization, Cambridge,
MA: Harvard Law School, Labor and Worklife Program, May 2006.
paper-hagerman06.pdf
(540KB)
Lisa A. Hagerman, More Than a Profit? Measuring the Social and Green Outcomes
of Urban Investments, Cambridge, MA: Harvard Law School, Labor and Worklife
Program, July 2007.
paper-hagerman07.pdf (1MB)
Sean Harrigan, “Economically Targeted Investments: Doing Well and Doing
Good,” CALPERS Presentation from Capital That Works Conference, Montreal,
Quebec: Canadian Labour and Business Centre, January 16, 2002.
paper-harrigan.pdf
(85KB)
Tessa Hebb, “CalPERS’ California Urban Real Estate Initiatives,”
Pension Funds and Urban Revitalization, Oxford, England and Cambridge, MA: University
of Oxford, School of Geography at the Centre for the Environment and Harvard
Law School, Labor and Worklife Program, Pensions & Capital Stewardship Program,
October 2005.
paper-hebb05.pdf
(372KB)
Tessa Hebb, “Private Equity: CalPERS’ California Initiative,”
Public Pension Funds and Urban Revitalization, Oxford, England and Cambridge,
MA: University of Oxford, School of Geography at the Centre for the Environment
and Harvard Law School, Labor and Worklife Program, Pensions & Capital Stewardship
Program, May 2006.
paper-hebb06.pdf
(376KB)
Teresa Hebb and Gordon L. Clark, editors. U.S. Public Sector Funds and Urban
Revitalization: An overview of policy and programs. Oxford, England: University
of Oxford, School of Geography and the Environment. Paper presented at conference
in New York held by the Rockefeller Foundation. November 4, 2004.
paper-hebb.pdf
(375KB)
John Logue and Steve Clem, “Putting Labor’s Capital to Work: Capital
Strategies for Ohio Employees,” Prepared for the workshop Should Ohio
Establish an Economically Targeted Investment Fund? Kent, OH: Ohio Employee
Ownership Center. Kent State University, May 30, 2006 (paper presented in Columbus,
Ohio, on June 6, 2006).
paper-logue-clem.pdf
(212KB)
*NEW*
Kathryn Manley, Tessa Hebb, and Ted Jackson, Targeting Investing: Financial
and Collateral Impacts, Ottawa, ON: March 2006.
paper-manley-et-al.pdf (340KB)
Anna Steiger, Tessa Hebb, and Lisa Hagerman, The Case for
the Community Partner in Economic Development, Community Affairs,
Discussion Paper 07-5, Boston, MA: Federal Reserve of Boston,
November 2007.
paper-steiger-et-al.pdf
(664KB)
Michael A. Stegman and Aaron McKethan, Escheats Funds: An Overlooked Source
of Public Capital for Business Development in North Carolina, Chapel Hill, NC:
Center for Community Capitalism, The Frank Hawkins Kenan Institute of Private
Enterprise, Kenan-Flagler Business School, University of North Carolina, September
12, 2005.
paper-stegman-mckethan.pdf
(200KB)
*NEW*
Kendra Strauss, Gordon L Clark, Tessa Hebb, Lisa Hagerman, U.S. Public Sector
Pension Funds and Urban Revitalization: An overview of policy and programs,
Oxford, London: University of Oxford, November 2004.
paper-strauss-et-al.pdf (370KB)
Susan M. Wachter and Kevin C. Gillen, Public Investment Strategies: How They
Matter for Neighborhoods in Philadelphia, Philadelphia, PA: Wharton School of
Business, University of Pennsylvania, October 2006.
paper-wachter-gillen.pdf
(220KB)
Elizabeth Zanglein, “Overcoming Institutional Barriers on the ETI Superhighway.”
The Second National Heartland Labor Capital Conference, Washington, D.C.: Heartland
Labor Capital Research Project. Apr. 1999.
paper-zanglein.pdf (162KB)
REPORTS
Applied Research Center, The Economic Impacts of CalPERS Investments on the
California Economy, Sacramento, CA: California State University, Sacramento,
September 2007.
report-arc.pdf
(520KB)
Gregory B. Fairchild, In Your Own Backyard: Investment Opportunities in Emerging
Domestic Markets, Council of Urban Investors Institute, 2004.
report-fairchild.pdf
(996KB)
Robert G. Heard and John Sibert, Growing New Business with Seed and Venture
Capital: State Experiences and Options. Washington, D.C.: National Governors
Association. 2000.
report-heard.pdf
(176KB)
Doug Hoffer, A Survey of Economically Targeted Investments: Opportunities
for Public Pension Funds: A report for the Vermont State Treasurer
and the State Retirement Boards. Montpelier, VT: February 16, 2004.
report-hoffer.pdf
(121KB)
Jennifer Malkin and Johnnie Aseron, Native Entrepreneurship in South Dakota:
A Deeper Look–A Report to the Northwest Areas Foundation, Washington,
DC and St. Paul, MN: CFED and Northwest Area Foundation, December 2006.
report-malkin-aseron.pdf
(1.4MB)
U.S. General Accounting Office (GAO), Public Pension Plans: Evaluation of
Economically Targeted Investment Programs. Report GAO/PEMD-95-13. Washington,
D.C.: GAO, 1995.
report-gao.pdf
(521KB)
George F. Pappas Commission (Report of the Governor's Commission on Development
of Advanced Technology Business), The Magnitude and Impact of the Technology
Industry in Maryland. Baltimore, MD: Maryland Department of Business and Economic
Development, January 2004.
report-pappas.pdf
(2.8MB)
Susan P. Strommer and George Lipper, with Daniel Sandler, Seed and Venture Capital:
State Experiences and Options, Chicago, IL: National Association of Seed and
Venture Funds, May 2006.
report-strommer-lipper.pdf
(416KB)
Jennifer Vey, Restoring Prosperity: The State Role in Revitalizing America’s
Older Industrial Cities, Washington, DC: The Brookings Institution Metropolitan
Policy Program, May 2007.
report-vey.pdf
(2.2KB)
Rachel Weber and David Santacroce, The Ideal Deal: How Local Governments Can
Get More for Their Economic Development Dollar, Washington, DC and Chicago,
IL: Good Jobs First and the University of Illinois at Chicago, Center for Urban
Economic Development, March 2007.
report-weber-santacroce.pdf
(1.8MB)
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