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

Brad R. Watts, George A. Erickcek, Jacob Duritsky, Kevin O'Brien, Claudette Robey, Jim Robey
2009 unpublished
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
more » ... 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. JEL Classification: O21
doi:10.17848/wp09-155 fatcat:odxuvneyqbbwdgonkqbnoqafwu