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What Should EDA Fund?: Developing a Model for Preassessment of Economic Development Investments

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  • Brad R. Watts

    ()
    (W. E. Upjohn Institute for Employment Research, Kalamazoo, Ml, USA)

  • George A. Erickcek

    (W. E. Upjohn Institute for Employment Research, Kalamazoo, Ml, USA)

  • Jacob Duritsky

    (TeamNEO, Cleveland, OH, USA)

  • Kevin O'Brien

    (Cleveland State University, Cleveland, OH, USA)

  • Claudette Robey

    (Cleveland State University, Cleveland, OH, USA)

  • James Robey

    (TeamNEO, Cleveland, OH, USA)

Abstract

This article describes a comprehensive study of regionalism conducted by a joint team of economists and economic development specialists for the U.S. Economic Development Administration (EDA). The project consisted of two main activities: an examination of the factors associated with economic development success and the creation of a practical interactive tool for EDA project assessment and comparison. Findings from surveys, interviews, and project case studies are discussed in terms of their support for a positive relationship between successful economic development efforts and factors such as leadership and private investment. The authors also discuss the creation of a quantitative assessment model using well-known approaches such as economic impact multipliers and cluster theory. The primary contribution of this work to the existing body of EDA-focused research and evaluation literature is its introduction of a means of using standardized scores, also known as z-scores, to compare and assess economic development projects across both industries and regions.

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Bibliographic Info

Article provided by in its journal Economic Development Quarterly.

Volume (Year): 25 (2011)
Issue (Month): 1 (February)
Pages: 65-78

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Handle: RePEc:sae:ecdequ:v:25:y:2011:i:1:p:65-78

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Related research

Keywords: economic development administration; methodology; economic development incentives/tools; state and local economic development policy;

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  1. Mark D. Partridge & Dan S. Rickman & Hui Li, 2009. "Who Wins From Local Economic Development?," Economic Development Quarterly, , vol. 23(1), pages 13-27, February.
  2. Timothy J. Bartik, 1991. "Who Benefits from State and Local Economic Development Policies?," Books from Upjohn Press, W.E. Upjohn Institute for Employment Research, number wbsle, December.
  3. Martin, Randolph C & Graham, Robert E, Jr, 1980. "The Impact of Economic Development Administration Programs: Some Empirical Evidence," The Review of Economics and Statistics, MIT Press, vol. 62(1), pages 52-62, February.
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