Dallas’ initial economy relied on farming, the Fort Worth Stockyards, and it’s strategic location on Native American trade routes. That changes in the 1870s when several rail lines opened up access to the country and the city became the largest inland cotton market in the world.
Its economy began to diversity and in 1914 Dallas was selected as the seat of the Eleventh Federal Reserve District. Petroleum was discovered in the 1930s and Dallas became a hub of the oil market. The Dallas-Fort Worth metroplex then became a telecommunications leader and became home to AT&T. The metro area led the nation in apartment construction though real estate would ride the boom and busts of the oil industry.
Dallas’ wealth is symbolized by the fact that has more shopping centers per capita than any other US city. Yet, 30% of African Americans live in poverty and half of the city’s census tracks are home to 90% of the city’s poverty.
Commonwealth Dallas is building impact investing deals to bring more economic opportunity to all Dallas citizens.
Commonwealth is a city-based platform designed to create a market of high impact impact investing deals. Our model is predicated on the notion that impact investing is a good news/bad news scenario. The good news is escalating capital being formed for these investments. The bad news is the short supply of quality deals to deliver both strong economic returns and meaningful social impact.
Through two techniques — a venture competition and an online marketplace — Commonwealth will create first-ever visibility into the quality deals that already exist and use its consulting services to make more deals market-ready.
We believe that enterprise is the surest solution to poverty. Therefore, Commonwealth Dallas is creating and managing a market of high-quality impact investing deals all over the city.