May 11, 1999


“We want to provide the economic incentives necessary to create jobs, keep growth going in America, keep inflation low and go into that new century with everyone -- everyone -- walking hand-in-hand together.”

President Bill Clinton
May 11, 1999

Today, at the White House, President Clinton and Vice President Gore held a roundtable with 17 Chief Executive Officers from major American corporations and investment firms to discuss ways to mobilize new private investment in America's most economically underserved communities. The President discussed his New Markets Initiative, a plan to encourage investment in underserved inner city and rural areas. He announced that, in July, he will take a bipartisan delegation of CEOs and Members of Congress on a nationwide tour of economically distressed communities.

Challenging Corporate America to Invest in Untapped Markets. President Clinton's New Markets Initiative builds upon existing programs and helps create the conditions for economically successful investment in underserved inner city and rural areas. Included among the elements of the plan are:

Announcing a Nationwide Presidential Tour of Underserved Communities. President Clinton announced today that in July he will take a bipartisan delegation of CEOs and Members of Congress to untapped markets throughout America, touring economically distressed communities and highlighting new opportunities being created in these communities across the nation. As part of the trip, President Clinton will announce new commitments and innovative programs developed by companies, community leaders, non-profit organizations and investment firms around the country.

Building on Six Years of Work to Expand Economic Development. The Clinton-Gore Administration has made community development a priority since taking office. The efforts announced today build on a number of critical initiatives that have helped to expand economic development to communities across the country that need it most.

These efforts include:

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