What Should EDA Fund? Developing a Model for Pre-Assessment of Economic Development Investments

Brad R. Watts (), George Erickcek, Jacob Duritsky, Kevin O’Brien, Claudette Robey and Jim Robey
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Brad R. Watts: W.E. Upjohn Institute for Employment Research
Jacob Duritsky: TeamNEO
Kevin O’Brien: Cleveland State University
Claudette Robey: Cleveland State University
Jim Robey: TeamNEO

No 09-155, Upjohn Working Papers from W.E. Upjohn Institute for Employment Research

Abstract: This 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.

Keywords: regional economic development; economic impact; assessment model; EDA; z-score (search for similar items in EconPapers)
JEL-codes: O21 (search for similar items in EconPapers)
Date: 2009-07
New Economics Papers: this item is included in nep-ppm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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