The economic power of narrative storytelling

Narratives act as invisible infrastructure that influences where capital flows and which businesses are seen as investable. Strong narratives grounded in abundance can attract institutional capital, encourage innovation, and support partnerships and collaboration. Treating narrative as an investable priority can reshape a city’s physical landscape. Some efforts fabricate narratives and relabel communities without residents’ assent, as seen in Denver’s shift from Five Points to River North to spur arts development. The branding succeeded in bringing economic development, restaurants, and higher-income residents, while also contributing to significant gentrification. Effective narrative work can improve places when done intentionally and focused on inclusive growth. National economic narratives can also be reframed to acknowledge the capacity of all communities to thrive.

"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."

"Our current national economic policy narrative seems to center on unpredictability and chaos. Yet the disruption of systems and expectations does allow us to create a new national narrative that acknowledges all people and every community have the capacity and potential to thrive economically."

Read at Fast Company