One Theory Underlying Economic Vitality Dashboards

August 5, 2010 at 9:50 am Leave a comment

There are many ideas in circulation about how various factors influence economic growth and vitality in a county or region. Here is the thinking underlying Northeast Ohio’s Economic Dashboard. Please not the assumptions relate specifically to the NEO Region. Snohomish County must form its own.

NE Ohio Economic Dashboard

Several key lessons emerge from this analysis, which are important for developing a shared regional vision and agenda for Northeast Ohio.

  1. There is no silver bullet that will turn a slow-moving economy based on traditional industries into a vibrant, high-performance one.
  2. A skilled workforce and strong business dynamics are most highly correlated with regional economic growth.
  3. The pursuit of social goals, such as racial inclusion and income equality, can enhance regional economic growth.
  4. While positively related to per capita income growth, locational amenities are not as important to regional growth as the other factors included in the analysis.
  5. The region’s growth is impeded by legacy costs, which are the result of an aging infrastructure and an unpopular climate.
Advertisements

Entry filed under: Economic Dashboard, Economic Theory, Performance Metrics. Tags: , , .

On Nonprofit Mergers and Consolidations Florida Space Coast Approach to Measuring Economic Vitality

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Trackback this post  |  Subscribe to the comments via RSS Feed


Archives

Calendar

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 17 other followers


%d bloggers like this: