Look what’s developing – How municipalities are fostering economic development

Source: Robert Barkin, American City & County, Vol. 129 no. 4, April 2014

…As the nation’s economy emerges from the worst recession since the Great Depression, governments are increasingly looking to their economic development operations, which come in many forms, to give them firmer financial footing as they try to rebuild service and functions that were slashed to balance budgets damaged by falling tax revenues.

Even more importantly, economic development has emerged as a critical function that draws on all the resources and functions of government and, in many ways, is a bellwether of how well a government is delivering services to its business community. And, the way that economic development is organized within a government or a region tells a great deal about inter-government cooperation and the prospects for success….