REGIONAL JOB CREATION POLICIES: The Empirical Evidence for Illinois Enterprise Zones*

Adrian Esparza and Martin Williams

Review of Urban & Regional Development Studies, 1990, vol. 2, issue 2, 163-173

Abstract: Federal, state, and local governments in the United States have established enterprise zone programs to promote economic development in depressed, localized economies. Although the program has been widely discussed during the last several years, analyses have been primarily descriptive or ideological. In this paper the enterprise zone program is examined within a more rigorous modeling framework. A theoretical profit maximizing model of the firm is developed to evaluate the impacts of local financial and development assistance within enterprise zones. The operational model uses 1988 data on forty Illinois enterprise zones. The results indicate that local financial and development assistance positively affect economic development, but in most cases the influences are not statistically significant. A sensitivity analysis was performed to identify potential estimation bias resulting from the influence of specific enterprise zones. None of the five potentially influential zones affected the stability of parameter estimates.

Date: 1990
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