The economic power of narrative storytelling

When we talk about infrastructure for a local economy, most people picture roads, sewer pipes, broadband, or parks. But there is an invisible type of infrastructure that shapes where capital flows and which businesses are considered investable. These are the narratives shape how a city talks about itself and its people.

Strong narratives rooted in abundance help attract institutional capital, spur innovation, and foster partnership and collaboration. When you treat narrative as an investable priority, you can reshape a city’s physical landscape. Seeking a quick return on investment, some fabricate narratives and relabel entire communities within cities without residents’ assent. In Denver, an intentional branding campaign shifted the name of a historically Black neighborhood (“Five Points”) to River North (or “RiNo”) with the hope that it would spur a local arts community. It worked—and brought in economic development, restaurants, and higher-income residents. But the campaign also helped the neighborhood become the second-most gentrified place in the country.

Click here to read the original article from Fast Company.