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Business retention and expansion (BRE) is regarded as the most practical and accessible method for economic development at the city, town, or neighborhood scale. This comprehensive volume centers on the belief that BRE is the top responsibility for a community economic development official. BRE is an asset-based approach designed to systematically strengthen the connection between businesses and the community while encouraging each business to continue operations and expand in the community. It focuses on the community’s existing businesses instead of those it doesn’t have. This book illustrates many different facets of BRE, from big-picture and theory to lessons learned about BRE from practitioners and academics with diverse perspectives and backgrounds. The authors demonstrate diverse ways of reaching out and responding to existing businesses. They explore several topics related to or at the very heart of BRE including: business clusters, entrepreneurship, community outcomes, business assistance, transportation systems, energy efficiency, business succession, and defining BRE success. These include research, program evaluation, and case studies. This book offers both theoretical and applied points of views, and will be of great interest to local practitioners, state/provincial officials, and students of economic development. It was originally published as a special issue of the journal Community Development.
Bartik provides a clear and concise overview of how state and local governments employ economic development incentives in order to lure companies to set up shop—and provide new jobs—in needy local labor markets. He shows that many such incentive offers are wasteful and he provides guidance, based on decades of research, on how to improve these programs.
This compelling book provides concrete examples and practical guidelines for addressing the most serious economic challenge facing the United States and every community in the nation: growing good jobs and enabling people to function effectively in these occupations. Each year, U.S. cities and states spend billions of dollars on incentives intended to create jobs. Are the strategies being implemented outdated? Is there a better way to create jobs? Rather than focusing on individual aspects of economic development such as entrepreneurship and start-up companies or workforce development, this book provides a comprehensive systems perspective for economic development that identifies how the new model of economic development for America is both a top-down and a bottom-up process that requires effective engagement with the community. The book begins with a broad explanation of why economic development strategy and practices need to change, and then discusses and critiques current practices using the state of Maryland as a case example. Two in-depth case studies at the city level follow, detailing leading practices that support the proposed values-based economic development model. The final section presents a framework that policymakers can use to assess and improve their current strategies and practices along with guidelines for implementing these improvements to make them more efficient, effective, and sustainable.