In this second annual summary of the their work, the Investing in Community Initiative provides practical advice for community leaders and policymakers around four critical issues. First, how should local needs be defined? Chapter 1 argues that data about local economies can show whether communities are best served by creating new jobs, strengthening tech clusters, boosting education or training, or expanding housing supply. Chapter 2 explores a range of approaches for linking job creation and skills development. To enact these strategies, strong local leadership is needed, and Chapter 3 addresses how best to mobilize the right kind of local leadership. In Chapter 4, the authors emphasizes the need to understand if place-based strategies are working. Rather than viewing evaluation efforts as a "secret sauce" added at the end of an experiment, they urge leaders to integrate data collection, tracking, and evaluation into their community initiatives during the planning stages. The authors hope this report generates new thinking about how communities can pursue a jobs-based strategy for local prosperity by simultaneously investing in the skills of residents and providing targeted support to business. [For the first report, "Building Shared Prosperity: How Communities Can Create Good Jobs for All," see ED598173.]