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Week Thirteen: Economic Development and IGRs

This week focuses on the intricacies of economic development policies and their effectiveness. Key topics include locational versus entrepreneurial approaches, the impact of incentives, and the role of intergovernmental relationships in development. A detailed case study examines the effects of changing HUD policies on economic opportunities. Additionally, we explore the conditions necessary for growth, strategies for successful outcomes, and future trends in development policy. Students will engage in discussions about the importance of adapting to local circumstances and addressing informational disparities.

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Week Thirteen: Economic Development and IGRs

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  1. Week Thirteen:Economic Development and IGRs

  2. Objectives for Week Thirteen • In-class Case from Week 12 • Challenges of Attracting Economic Opportunity • Locational v. Entrepreneurial Approaches to Economic Development Policy • Incentives and Strategies • Goals and Politics of Development Policy

  3. HASCO Case Study • Integrated program with case manager that coordinated services – local organizations would participate to help their clients receive Section 8 vouchers • Changes in HUD policy • Undermined partnerships, eliminated caseworker • Reduced # of participants, changed selection criteria

  4. Development Policy • What are the goals of economic development policy? • What are the conditions that promote economic growth? • What are the tools government uses to promote economic growth? • Salomon – Interdependence in Policy-making • Pluriformity • Self-referentiality • Asymmetric interdependencies • Dynamism

  5. Context of Development Policy • Local Characteristics • Presence of Competitive Pressures • Intense competition, today and historically • Mobility of capital and labor • Uncertainty in Impact of Tools • What matters? • Informational Disparities • What are others doing? What does the company want? What does the future hold? • Suboptimal outcomes = strong possibility

  6. Operating in a Constrained, but Competitive Environment • Match or surpass incentives • Improve informational position • Reduce out-migration of labor/capital • Enhance stock of labor/capital

  7. Strategies for Development • Locational (supply-side) • Reduce costs of doing business • Impact of tax incentives? • Entrepreneurial (demand-side) • Enhance attractiveness of location for potential industry • Workforce development • Retaining versus Recruiting • Adapting to changing context

  8. Institutional Impact of the Tax Reform Act of 1986

  9. Institutional Impact of the Tax Reform Act of 1986

  10. Adapting to the Surrounding Context • Adopt innovations and circumvent regulations • Diversity of development tools and diversification of local industry • Outcomes-based performance measures • Shift away from supply-side to demand-side

  11. How Do We Measure Development Policy Success?

  12. What Trends in Development Policy Might We Anticipate in the Coming Years?

  13. Course Concepts Implicated by Development Policy • Proper role and responsibility of different levels of government • Mobility of capital and population • Intergovernmental competitive pressures • Incentives and inducements are intergovernmental in nature • Externalities • Importance of information • Constraints on policy-makers

  14. Readings for Next Week • Chapters One, Three, Five and Six, Reflections on Regionalism, ed. Bruce Katz • Read Managing Urban Growth case (online)

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