ABSTRACT

Economic growth does not occur overnight. Often, it requires several stages, each of which may require years before substantial-or, at least, the most significantresults can been seen. is should not serve as a deterrent because there can also be accumulating results in the course of the process. It is merely meant to serve as a warning that economic development and economic growth are not overnight phenomena for which immediate results can realistically be anticipated. Lightbourn and White express the situation regarding the pace of change: “History tells us that urban economies do not turn on a dime. Decades are required to change the fundamental economic structure of a city.”1