This document proposes a new framework for efficient analysis of high-dimensional economic big data based on distributed feature selection. The framework combines methods of economic feature selection and econometric model construction to reveal patterns for economic development. It rests on three pillars: novel data pre-processing techniques, an innovative distributed feature identification solution to locate important economic indicators from multidimensional data sets, and new econometric models to capture hidden patterns for economic development. Experimental results on economic data from Dalian, China demonstrate the framework has superior performance in analyzing enormous economic data.