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Measuring for success - Monitoring incentives performance


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Ellen Harpel, Smart Incentives - C2ER Annual Conference (June 2017, Denver). An overview of economic development incentive evaluation themes.

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Measuring for success - Monitoring incentives performance

  1. 1. Measuring for Success – Monitoring Incentives Performance ELLEN HARPEL, SMART INCENTIVES C2ER ANNUAL CONFERENCE JUNE 2017 – DENVER, CO
  2. 2. About us  Business Development Advisors
 is an economic development
 consulting firm  Smart Incentives helps communities
 make sound decisions 
 throughout the incentives process © 2017 SMART INCENTIVES 2
  3. 3. Economic development and incentives  Why do we use incentives? To achieve our community’s economic development goals
 ◦  Jobs ◦  Business Development ◦  Investment ◦  Downtown revitalization ◦  Brownfield redevelopment ◦  Quality of life and quality of place ◦  Strengthen tax base  Incentives are not just about winning a deal. Smart incentive use is always connected to a larger economic development strategy. © 2017 SMART INCENTIVES 3
  4. 4. © 2017 SMART INCENTIVES 4
  5. 5. Effectiveness & accountability  What are we getting out of our incentives spending? ◦  Is the incentive helping us meet our economic development objectives? ◦  Did the benefits outweigh the costs? ◦  How could our incentive program design or administration be improved?  Reporting is a critical part of accountability ◦  Collaborative approach to evaluation – and reporting ◦  Using reporting to improve decision making, not punish/get punished © 2017 SMART INCENTIVES 5
  6. 6. State tax incentive evaluations © 2017 SMART INCENTIVES
  7. 7. Selecting performance metrics  Jobs & investment remain the dominant metrics – regardless of program type or intent  Need for new metrics beyond jobs and investment tallies  Seeking metrics that indicate opportunity and prosperity for targeted businesses and residents resulting from economic development program activities © 2017 SMART INCENTIVES 7
  8. 8. What makes a good metric?  Outcome-oriented ◦  Based on economic development strategy ◦  What are you trying to achieve?  But with reasonable a connection to program inputs ◦  Logic model to demonstration the linkages  Data availability ◦  Appropriate timeframe ◦  Reasonable cost to obtain ◦  Data quality/validity © 2017 SMART INCENTIVES 8
  9. 9.  To identify ways that economic and workforce development programs can safely and securely access administrative data to support rigorous policy analysis and program evaluation. © 2017 SMART INCENTIVES 9 State Data Sharing Initiative
  10. 10. Contact  Ellen Harpel
 @SmartIncentives © 2017 SMART INCENTIVES 10