ABSTRACT
This chapter presents data sources and analytic techniques used to understand the challenges and opportunities confronting the region, community or city. It provides the foundation for developing data-driven economic development strategies including traditional industry-based analyses, modern workforce assessments and the use of supply chain analysis to build viable strategies for business development and recruitment. The chapter explores traditional economic development research practices into critical areas of quality of life measures. It introduces students to techniques used to value the growth of industry in a region or locality. Site certification during the recovery from the Great Recession, several US Government economic stimulus programs provided funding for ‘shovel ready’ projects for constructing infrastructure and industrial building. The challenge with economic base modeling is determining which portion of employment is attributable to exports. Location quotient analysis is a good general technique for an initial assessment of local/regional economic competitiveness.
