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Chuck ShoopmanPresident,University Economic Development Association

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Tom GuevaraDeputy Assistant Secretary for Regional Affairs,U.S. Economic Development Administration

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Maryann FeldmanPrincipal Investigator and Heninger Distinguished Professor, Department of Public Policy, University of North Carolina

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Arthur BoniJohn R. Thorne Distinguished Career Professor of Entrepreneurship, Tepper School of Business, Carnegie Mellon University

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Bob StarzynskiDirector of Business Development,Innovation Works

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Defining Economic Development

A Long and Winding Road

Aligning Economic Development Administration (EDA) Mission

Economic Development is the expansion of capacities that contribute to the advancement of society through the realization of individual, firm and community potential.

Economic Development is a sustained increase in prosperity and quality of life through innovation, lowered transaction costs, and the utilization of capabilities towards theresponsible production and diffusion of goods and services.

Economic development requires effective institutionsgrounded in norms of openness, tolerance for risk, appreciation for diversity, and confidence in the realization of mutual gain for the public and the private sector. 

Economic development is essential to creating the conditions for economic growth and ensuring our economic future.

Economic Development Logic Model

Objective of Economic Development Prosperity High Quality of Life

EDA Investments & Programs

Capacities Community Capacity Firm and Industry Capacity Entrepreneurial Capacity Innovative Capacity

Implications for Measurement

How do we define Success?

How do we measure Success?

Its important to get this right!

Measurable Increases in Capacity

Value Chain Augmentation

Social Capital: Dealmakers

Regional Identity

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Lexis/Nexis Search

But what are they saying?

Labor Force Analytics

Supply Jobs posted Wage rates Skills

Sought Days job

open

Demand Job seekers Skills

available Degrees/

Training/Certification

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