We hosted a Financial Innovations Lab on July 15, 2018 to design new tools to achieve fiscal sustainability for Jerusalem and accelerate economic development projects. The Lab was hosted as a joint venture with the Ministry of Jerusalem and Heritage and included the participation of the Ministries of Finance and Interior, and the Municipality of Jerusalem.
The Lab hosted international experts, including Stephen Goldsmith, Director of the Innovations in American Government Program at Harvard’s Kennedy School of Government and former Mayor of Indianapolis and Deputy Mayor of the City of New York; Lois A. Scott, President of Epoch Advisors and former CFO of the City of Chicago; and Michael Colton, Managing Director of Lamont Financial Services, and formerly with Morgan Stanley. The preliminary results from the Lab produced an agenda for research and modeling by work teams on several work streams, including new revenue sources, cost savings, financing tools, and economic development strategy.