What Should EDA Fund? Developing a Model for Pre-Assessment of Economic Development Investments
AbstractThis paper describes the completion of a “comprehensive study of regionalism” that was conducted by a joint team of economists and economic development specialists for the 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. Also, the authors discuss the creation of a quantitative assessment model utilizing 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 introducing 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 InfoPaper provided by W.E. Upjohn Institute for Employment Research in its series Upjohn Working Papers and Journal Articles with number 09-155.
Date of creation: Jul 2009
Date of revision:
regional economic development; economic impact; assessment model; EDA; z-score;
Other versions of this item:
- Brad R. Watts & George A. Erickcek & Jacob Duritsky & Kevin O'Brien & Claudette Robey & James Robey, 2011. "What Should EDA Fund?: Developing a Model for Preassessment of Economic Development Investments," Economic Development Quarterly, , vol. 25(1), pages 65-78, February.
- O21 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Planning Models; Planning Policy
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- 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, October.
- 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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