Healthy Food Financing Initiative: An Innovative Approach to Improve Health and Spark Economic Development

Millions of Americans in low-income communities walk out their front doors and see nothing but fast food and convenience stores selling high-fat, high-sugar processed foods. Residents of rural communities sometimes face a complete lack of nearby options. The results are grim—these communities have higher rates of obesity, diabetes, and other related health issues. In addition, low-income communities are cut off from all the economic development benefits that accompany a grocery store: the creation of steady jobs at decent wages and the sparking of complementary retail stores and services nearby.

To address this issue, PolicyLink, The Food Trust, and The Reinvestment Fund joined together to promote a federal policy modeled after a successful state program – The Pennsylvania Fresh Food Financing Initiative. Evaluations and research projections have found that since 2004, the Pennsylvania program helped develop 78 new or improved grocery stores and other healthy food retail throughout the state, improving healthy food access for over 400,000 people and creating or retaining 4,800 jobs. Just $30 million in state seed money for one-time loan and grant financing has led to healthy food projects totaling more than $165 million. This presentation will highlight the Healthy Food Financing Initiative (HFFI) that has been proposed by President Obama and legislators in the U.S. Senate and House of Representatives. HFFI has great potential to improve health, create jobs, and spur economic development in underserved low-income communities across the nation. This presentation will highlight both the program and the steps needed to promote this important policy.