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Targets of state and local economic development policy
State and local policymakers typically have three targets for their economic development policies: outside businesses, existing businesses, and new start-up businesses. Attracting outside businesses especially large manufacturing plants has long been a popular economic development activity, but increasingly this approach has come under fire. As policymakers reexamine the effectiveness and appropriateness of economic development policy, an understanding of how resources are currently allocated among the three main targets is essential.
Continued strength at Tenth District banks
Commercial banks in Tenth District states continued to perform well in the first half of 1994. Profitability leveled off at a high level, asset quality improved, and loan growth accelerated. Based on these performance measures, banks in district states once again outperformed banks in the rest of the nation.
Welfare finance reform: District states could face funding challenges
Welfare finance reform could have a substantial fiscal impact on the budgets of some states in the Tenth district, although the ability to cope with reform will vary from state to state. This article discusses some of the proposed changes in welfare funding and the effect they may have on the states in the Tenth District. Each state's ability to offset potential reductions in welfare funding will depend on their own budget resources and whether additional funds are provided to states with limited resources and higher administrative costs.
Good times continue for Tenth District banks
Commercial banks in Tenth District states continued to perform well in 1997. Profitability remained high, loan quality improved, and loan growth and deposit growth were both strong. Banks in district states also outperformed banks nationwide by all four performance measures.
The future for automobile production in Tenth District states
Manufacturing job losses in the recovery: the District outperforms the nation
This article examines job growth in the district's key manufacturing industries and in the seven district states. The article shows that while thousands of manufacturing jobs have been lost since the recovery began, the decline in the district has been less than in the nation. The primary strength of the region's manufacturing sector has been the food processing industry.
Improved performance at tenth district banks
How important are small businesses in the Tenth District?
Small businesses were widely recognized in the 1980s as the driving force behind economic growth. One benchmark study estimated that small firms accounted for 80 percent of all new jobs in the nation in the late 1970s. Analysts predicted that small businesses would continue to provide most new jobs as the economy became more service-oriented and therefore dominated by firms that tended to be smaller in scale. ; The desire to promote small businesses as an engine of job growth was partly responsible for efforts in the mid-1980s to overhaul the tax system and deregulate business. Since then, ...
Solid performance at Tenth District banks
Commercial banks in Tenth District states performed well in the first half of 1997. Profitability and loan quality remained high, while loans continued to grow at a healthy pace. The only negative was that deposits grew sluggishly, adding to liquidity pressures. Banks in district states slightly outperformed banks nationwide in profitability and loan quality, while matching them in loan growth and deposit growth.
Exporting trends in Tenth District manufactured goods
The Tenth District has consistently outperformed the nation in the 1990s in the growth of manufactured exports. Foreign exports account for a large share of the district's sales of manufactured goods and have also helped the district retain many of its factory jobs.