The next wave: Postfederal local economic development strategies
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In the absence of significant federal economic development resources, local officials face complex choices about both the level and the orientations of their policy efforts. A national study of local economic development officials indicates that cities in this post federal period are characterized by increased local economic development activities even when relying on own-source revenues, by risk-taking rather than risk-aversive approaches, and by more diverse policy orientations emphasizing indigenous growth and job creation strategies. Cities using more entrepreneurial tools that demand active city roles appear to be more likely to have higher average job and firm growth rates than cities never using these tools.