Dear Community,
In the wake of the 2024 presidential election, I want to take a moment to reflect on how the incoming administration’s policies may impact our organization’s ability to fulfill our mission and support the communities we serve.
While the future holds uncertainties, we anticipate that certain policy changes may present challenges. The administration’s historical emphasis on large tax cuts and the likelihood of inflation and increased interest rates could impact funding and resources for our initiatives. Additionally, we may face new hurdles in securing federal funding, as there are no indications that these will be prioritized in the administration’s policy platform. The economic shifts could affect Dorchester Bay EDC’s ability to raise funding, keep interest rates low for our small business loans, and manage potential increases in development costs for affordable housing. It will be essential for us to monitor these changes closely and adapt our approach accordingly.
Another significant concern, among many others, is the administration’s stance on immigration. Restrictive immigration policies can have a profound effect on our community, where immigrants are integral to our neighborhoods, workforce, and small businesses. Policies that dehumanize people and limit immigration could lead to workforce shortages, reduce entrepreneurial opportunities, and disrupt the support networks that help sustain our community’s vibrancy and diversity. We recognize the critical role that immigrants play in driving economic growth, and we will advocate for policies that honor their contributions and help keep our community whole.
As we move forward, it will be vital for Dorchester Bay EDC to be strategic in our fundraising efforts, exploring new partnerships and alternative funding sources to preserve our ability to access affordable capital for housing development, small business lending, and community programs.
Despite these potential challenges, here’s what I want you to know: our mission and purpose remain unchanged. We are committed to comprehensive economic development and to creating new initiatives and innovative solutions that address the evolving needs of our community. Grounded in our values of equity, dignity, and economic justice, we will continue building a strong and sustainable Dorchester Bay, regardless of any obstacles.
We will hold onto our mission and support each other through this uncertain time. Together, we’ll navigate whatever comes our way.
In solidarity,
Kimberly R. Lyle
Chief Executive Officer
Dorchester Bay Economic Development Corporation