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Targets of state and local economic development policy


  • Tim R. Smith
  • Deron Ferguson


State and local policymakers typically have three targets for their economic development policies: outside businesses, existing businesses, and new start-up businesses. Attracting outside businesses especially large manufacturing plants has long been a popular economic development activity, but increasingly this approach has come under fire. As policymakers reexamine the effectiveness and appropriateness of economic development policy, an understanding of how resources are currently allocated among the three main targets is essential.

Suggested Citation

  • Tim R. Smith & Deron Ferguson, 1995. "Targets of state and local economic development policy," Regional Economic Digest, Federal Reserve Bank of Kansas City, issue Q III, pages 4-11.
  • Handle: RePEc:fip:fedkre:y:1995:i:qiii:p:4-11

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