Community Economic Development

Paper Summary:

This paper discusses an empirical economic impact model based on market research at the community and municipality level. The writer discusses the belief that communities and municipalities require effective economic impact models in order to adequately build and estimate budgets as well as to plan for future development needs. The writer proposes a community based cooperative action program that emphasizes a three component economic analysis model.

Table of Contents:
Introduction
Impact Model Applicability
Economic Impact Analysis
Economic Impact Component
Community Impact Component
Fiscal Impact Component
Three Phase Process
Conclusion

From the Paper:

"The contemporary economic climate ensures that communities require ready and immediate access to information that allows them to respond more effectively to economic volatility. Community leaders as well as citizens within the community constantly are required to make decisions that impact various aspects of the community, such as business growth, dimensions of traditional industry activities, land use issues, and a host of other common community concerns (Gibbs 18). The growing observation is that all these issues and more also impact the overall economic indicators within communities as well which consist of employment/unemployment concerns, income issues such as poverty or affordable housing, or the demand for expanded public services. In researching these issues it becomes vital to identify the particular issue or problem which allows both the researcher and the community leader the ability to better address such issues specifically (Green, et al 6). Thus, developing effective economic models relies on cooperation between both researcher and, in effect, the researched."

Sample of Sources Used:

• Gibbs, David. Local Economic Development and the Environment. London: Routledge, 2002.
• Green, L., et al. "Reading 3.1." Background on Participatory Research.
• Lyons, Thomas S., and Roger E. Hamlin. Creating an Economic Development Action Plan: A Guide for Development Professionals. Westport, CT: Praeger, 2001.
• Stringer, Ernest. "Reading 3.3." Principles of Community Based Research
• Stringer, Ernest. "Three Approaches to Participative Inquiry." Reading 3.4 Cooperative Inquiry Participatory Action Research.

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