Slideshow on “Economic development” for Sustainable Planning & Development – © Mark M. Miller, Professor of Geography; School of Biology, Ecology, & Environmental Science; The University of Southern Mississippi

1. http://www.theadp.com/economic-development/
Introduction to local economic development
© Mark M. Miller
World Regional Geography
Dept. of Geography & Geology
The University of Southern Mississippi

2. https://www.usm.edu/business/finance-real_estate-
business_law/about-master-science-economic-development

3. How do we create more jobs and better jobs in local communities?

4. “Jobs to people” vs. “People to jobs”

5. People to jobs?
• Spatial mismatch & transportation equity
• Public housing policy transformation
• Gentrification

6. Jobs to people?
• Lack of mobility
• Sense of place
• Your job as a local planner, economic developer,
politician

7. Economic base theory
•Basic firms
•Nonbasic firms
•Multiplier
•Leakage

8. Economic base theory
100 basic jobs
x multiplier (say, 1.8)
= 180 total jobs (including 80 nonbasic jobs)

9. Economic base theory
Loss of 100 basic jobs
x multiplier (say, 1.8)
= loss of 180 total jobs (including 80 nonbasic
jobs)

10. How can we keep and create jobs? A.C.R.E.
•Retention
•Expansion
•Creation
•Attraction

11. How can we keep and create jobs? A.C.R.E.
•Retention
•Expansion
•Creation
•Attraction

12. How can we keep and create jobs? A.C.R.E.
•Retention
•Expansion
•Creation
•Attraction

13. Nurture local
entrepreneurs

14. https://www.grameenamerica.org/

15. Mississippi Historical Society. Mississippi
History Now. Retrieved 9/27/05:
http://mshistory.k12.ms.us/features/feature52
/economic.htm
How can we keep
and create jobs?
A.C.R.E.
•Retention
•Expansion
•Creation
•Attraction &
incentives

16. Mississippi’s 1936 “Balance
Agriculture with Industry” Act
Mississippi Historical Society. Mississippi History Now. Retrieved
9/27/05: http://mshistory.k12.ms.us/features/feature52/economic.htm

17. “Smokestack chasing”?
Nissan Canton. Retrieved Sep 10, 2013: http://www.nissan-canton.com

18. http://www.theadp.com/economic-development/

19. Other theories of economic development
Economic clusters: the greater economic environment
Michael Porter’s industrial cluster:
Porter, Michael. 2000. Location, competition, & Economic Development. Economic Development Quarterly (p. 20)

20. Silicon Valley
Retrieved 9/27/05: http://www.wwwebport.com/citygates/sv/svfullview.html

21. San Diego Biocluster
University of California San Diego CONNECT. Retrieved 9/27/05: http://www.connect.org/

22. https://www.lvcva.com/

23. Tourism

24. Salon.com. 5/1/07:
http://dir.salon.com/story/books/int/2002/06/06/florida/index.html?x

25. Retrieved September 5, 2012:
http://www.treehugger.com/corporate-responsibility/worlds-
largest-solar-tower-now-powers-10000-homes.html
Sustainable
development

26. Social capital
• Bonding capital
• Bridging capital
• Linking capital

27. “Happiness”
• Richard Layard. 2005. Happiness: Lessons From a New Science.
Penguin Press.
• Bhutan’s “Gross National Happiness” index
Revkin, Andrew. 2005. A new measure of well-being from a happy little kingdom. New York Times.
Retrieved 10/5/05:
http://www.nytimes.com/2005/10/04/science/04happ.html?ex=1129089600&en=de859301f49c121d&ei
=5070&emc=eta1

28. Growing income inequality?
Wills, Matthew. 2014. The road to capital in the 21 Century. JSTOR Daily. August 1:
http://daily.jstor.org/the-road-to-capital-in-the-twenty-first-century/