Investing in creativity is a wise move for leaders, says Tim Jones CEO of Artscape: “We believe artists create incredible value in communities and neighbourhoods. The trick is to capture a piece of that and invest it in them, so they can continue to make a place vibrant over time.”

This post is part of a major series from the Schwab Foundation looking at lessons from leading social entrepreneurs.

Tim Jones calls his work “creative placemaking” and says:

“It can be used in places that are going through rapid growth or gentrification, to embed creative people into the places that they’ve helped to create. But it also can be taken to places like Detroit, or to developing countries, to use the catalyst that creativity can provide to help build social cohesion and help local economies grow.”

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He adds: “It’s about leveraging the power of our culture and creativity to promote growth. We believe that’s a legitimate form of urban development. It builds off decades of being intentional about building quality of place.”

Author: Tim Jones, CEO, Artscape

Image: A girl walks along “Graffitti Way” at Prazeres slum in Rio de Janeiro March 24, 2014. REUTERS/Ricardo Moraes