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

Brad R. Watts, George A. Erickcek, Jacob Duritsky, Kevin O'Brien, Claudette Robey and James Robey
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Brad R. Watts: W. E. Upjohn Institute for Employment Research, Kalamazoo, MI, USA, watts@upjohninstitute.org
George A. Erickcek: W. E. Upjohn Institute for Employment Research, Kalamazoo, MI, 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

Economic Development Quarterly, 2011, vol. 25, issue 1, 65-78

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 EDAfocused 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.

Keywords: economic development administration; methodology; economic development incentives/tools; state and local economic development policy (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:sae:ecdequ:v:25:y:2011:i:1:p:65-78

DOI: 10.1177/0891242410377084

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