393 | Economic Development - Leading Through Uncertain Times with Elyse Cherry
Bio: Elyse Cherry has served as the CEO of BlueHub Capital since 1997. Under Cherry’s leadership, BlueHub has invested over $3.2 billion, leveraged an additional $16.1 billion, and built a national tax credit practice to: finance affordable housing, health centers, schools and other community facilities; create jobs; benchmark and drive down energy and utility costs.
This episode is sponsored by the coaching company of the host, Paul Zelizer. Consider a Strategy Session if you can use support growing your impact business.
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Transcript of Economic Development - Leading Through Uncertain Times with Elyse Cherry
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Key Takeaways in Economic Development - Leading Through Uncertain Times with Elyse Cherry
Mission-Driven Growth and Sustainable Impact:
BlueHub Capital's journey from a $3,500 neighborhood fund to nearly $20 billion in capital leveraged is rooted in a steadfast commitment to aligning money with mission—prioritizing projects that uplift communities while maintaining financial sustainability.
"And so pretty early on, right, really right from the beginning, we understood that we needed to function as an intermediary and that money and mission needed to be aligned. And we couldn't simply say, as a mission matter, we're going to do this, even though when we look at the particulars, it doesn't really make any sense financially. We always had to be aligned on that."
Resilient Leadership Through Uncertainty:
Over four decades and multiple economic downturns, Elyse Cherry emphasizes that courage, adaptability, and community alignment are key to navigating challenges and maintaining organizational strength—especially in unpredictable times.
"When everybody's aligned, lending is easier. When folks are out of alignment, it's really a big problem. And you really have to stand for the communities that you're serving. It's a time that can require personal courage and that really causes people to understand whether that's available in their organization."
Measuring Impact with Both Numbers and Narrative:
The success and credibility of mission-driven investing relies equally on rigorous impact measurement and compelling storytelling, ensuring that both quantitative outcomes and lived experiences communicate progress and reinforce trust with stakeholders.
"Numbers suggest a specificity, which is important, but they don't necessarily register for anybody, right? What registers really is narrative and stories and things that people can attach their understanding to in some way that is consistent with the lives they lead. And so what we try hard to do is both. We capture all of the numbers, we scrub them, we try to be really, really careful that we're accurate there...and we try to tell the stories that make those numbers come to life."