ABSTRACT
Economic growth is a foundation of regional progress and well-being, which is a major reason why public leaders demonstrate a keen interest in nurturing, maintaining, and increasing economic activities. To that end, all units of American government engage in “economic development,” defined as “the intersection of public policy and commerce for creating jobs, prosperity, business, and wealth.” 1 Such efforts have transpired since the nation’s founding, yet they were too sporadic to form a discrete area of public policy. It was not until the Great Depression that the modern practice of state and local economic development emerged, driven largely by the attempts of southern states to improve their comparatively lagging economies. 2
