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Discussion of question - Essay Example

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Economic development is so vital to local governments and elected officials because it is the key to “sustainable growth, the reduction of poverty, the elevation of indices of wellbeing of a people and society.”1 In the study written by Levy, the author averred that “by…
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POSTING FOR RESPONSE TO DISCUSSION QUESTION Argue one reason why economic development is so vital to local governments and elected officials. Economic development is so vital to local governments and elected officials because it is the key to “sustainable growth, the reduction of poverty, the elevation of indices of wellbeing of a people and society.”1 In the study written by Levy, the author averred that “by improving the market for sites and structures, local economic development efforts contribute to aggregate economic performance.” 2 From the foregoing, it is evident that local governments and elected officials closely monitor standards or performance indicators that gauge the level of progress of the local or national economy being regularly monitored and assessed. As clearly expounded, one of the most easily identifiable measures of results is sales activities, which was defined therein as “activities that do not alter the physical, financial, or demographic realities of the community, but rather inform and persuade firms and investors. They include calls on firms, speeches to Rotary Clubs, public relations, advertising, writing and dissemination of brochures, attendance at trade shows and other events, and "networking."3 These activities, also synonymous with marketing activities are easily measured from one point in time to another. Thus, it is an effective gauge of an economy’s progress or regress, depending on the outcome that is measured.
However, from the article written by Blair and Reese, the authors have indicated that “enhancing quality of life is emerging as an important economic development (ED) strategy.” 4 Therefore, not only do government officials focused on aiming to generate sales activities, but more so, the need to address issues that enhance the quality of life, is of equal importance. These reasons actually “helps local government look good and it secures the position of the economic developer and his or her agency” 5
Economic indicators such as sales or marketing activities, as well as opportunities to enhance quality of life through greater access to health care, for instance, or immediate response by the police force in addressing criminality within the locality, are measures that make the image of economic legislators and policy makers either good or bad, in the perceptions of the citizens. Therefore, these government officials make economic development a priority in the list of government programs that are earmarked to be addressed on a year to year basis. Furthermore, as the economy grows, citizens and businesses give back to the community in terms of higher purchases and taxes which provide greater revenues. Through more revenues, more funds would be channeled for sustainable growth, reduction of poverty, and improving the overall wellbeing of members of the society.
BIBLIOGRAPHY
Blair, John P., and Laura A. Reese. "Customization and Macroeconomic Efficiency." In Approaches to Economic Development: Readings from Economic Development Quarterly, by John P. Blair, & Laura A. Reese, 307-311. 1999.
Levy, John. "What local economic developers actually do?" Journal of the American Planning Association, 1990: Vol. 56 Issue 2, 153.
Mendez England & Associates. "Our Experience and Approach to Local Economic Development." mendezengland.com. 2012. http://www.mendezengland.com/site/index.php?option=com_content&view=article&id=66 (accessed September 2, 2012). Read More
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