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Week Thirteen: Economic Development and IGRs

Week Thirteen: Economic Development and IGRs. 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.

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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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