advancing_urban_policy
 Advancing Urban Policy:
Economic Development
January, 2013

Welcome
 

Welcome to Advancing Urban Policy, the new monthly e-newsletter of the Maxine Goodman Levin College of Urban Affairs at Cleveland State University. Our goal for this new tool is to provide you with news about current research and thought leadership on topics related to urban policy from across the country. Each month will highlight a different topic, including Economic Development (January), Community Development & Housing (February), Nonprofit Administration & Leadership (March), City Management (April), Environmental Policy/Management (May), and Public Finance & Budgeting (June). While each edition will be brief, we welcome your ideas and submissions. They may be sent to: r.bucymiller@csuohio.edu.

--Edward (Ned) W. Hill, Ph.D., Dean

 

 


Technology/Ecology of innovation/Manufacturing
 

Wood Mackenzie reports that expenditures on Eagle Ford Shale in Eagle Ford, Texas, will reach $28 billion in 2013. Eagle Ford Shale is a hydrocarbon producing underground formation that is significant for its ability to produce higher amounts of both, gas and oil than traditional formations. Wood Mackenzie reports that capital expenditure on this site could exceed that of capital expenditure on the entire Kashagan project in Kazakhstan. The Kashagan project is famous for being one of the most expensive standalone energy projects in the world. This expenditure points to the high amount of money energy corporations are pouring into U.S energy independence. Click here

Research by the Center for Economic Development at the Maxine Goodman Levin College of Urban affairs, Cleveland State University, revealed cautious optimism among Ohio's steelmakers. This optimism stems from a change in demand for regionally sourced products, particularly in the auto and energy sectors. The College further uncovered that Ohio steel mills and fabricators experienced a $1.1 billion growth in GDP during 2009 and 2010. This growth represents about one quarter of the growth associated with national economic recovery.  Click here 

Workforce Development 

 

In any week, workers in the United States are currently having multiple jobs at greater numbers than ever. According to the Cleveland Federal Reserve Bank, more than 5% of U.S. workers held more than one job, as of October, 2012. In most cases, people held two jobs, yet a significant number, about 10 percent worked three or four jobs. Reasons for holding multiple jobs include workers using multiple part-time jobs as a substitute for one full-time job. Another reason for holding multiple jobs is workers may view a second job as something they enjoy.  Click here 

Concerns about retirement financing are now more heavily concentrated among younger middle-aged adults than those closer to retirement age. In 2009, baby-boomers in their mid-50s were worried they would outlive their retirement nest eggs. Today, adults in their late-30s are more worried than baby-boomers, according to a survey conducted by the Pew Research Center. Pew's analysis of Federal Reserve Board data shows that, this age group suffered the steepest losses in household wealth in recent years. Click here 

 

Regional Economics/Cities/Clusters

 

 A recent report from the Federal Reserve Bank of Cleveland shows that since 2000, high-manufacturing-share-counties have experienced lower employment growth than the rest of the counties in the United States. These high-manufacturing counties are concentrated in the eastern half of the country, and around the Great Lakes region, and the South and Southeast. The report cites the Bureau of Labor Statistics' information that states shows that employment in high-manufacturing counties has fallen by 5% since 2000, while employment in the rest of the country has risen by 5 %, revealing a stark divergence. Click here 

MassBenchmarks, the journal of the Massachusetts economy published by the UMass Donahue Institute in collaboration with the Federal Reserve Bank of Boston,reports that the Massachusetts economy will no longer outpace that of the nation .Instead it predicts a slow outlook for Massachusetts for the rest of the fiscal year. Despite the slowing down of the economy, Massachusetts knowledge-based and technology sectors are expected to grow, with increased employment in computer systems, consulting, R&D, software and durable manufacturing. Click here 

Economic Development Strategies

 

Investing in metropolitan assets that drive trade is one in a range of strategies proposed by the Metropolitan Policy Program at Brookings.This strategy advises that metropolitan leaders invest in assets that drive trade like innovation, human capital and infrastructure. The report further highlights the efforts of municipal leaders in cities like Wichita, Kansas, to develop human capital or their export economy. Click here 

 Congress should enact legislation to encourage property assessed clean energy programs around the country, advises a report from the Metropolitan Policy Program at Brookings. Property assessed clean energy programs (PACE) are a financing structure made to enable states and local governments to use money raised using bond issues or other sources of capital to fund energy efficiency and renewable energy upgrades. Despite the promise of these programs, market barriers have depressed demand for PACE programs. Click here


Shortsightedness on the part of state leaders and politicians is seen as a hindrance to improving the image and success of the steel industry in Ohio. Focus group participants in the Maxine Levin Goodman College of Urban Affairs' Center for Economic Development's Ohio Steel study noted negative stories circulating about fracking in Ohio and the lack of effort among political leaders to allay concerns, as damaging the image of the energy and steel industries in the state. This perceived lack of political will to improve the image of the industry is identified as having made it difficult for Ohio steel companies and related industries to function successfully within the state. Click here 

Advancing Urban Policy: Economic Development was created with counsel from Edward Hill, Ph.D., Ziona Austrian, Ph.D., Iryna Lendel, Ph.D., Candi Clousse, Merissa Piazza; compiled by Hama Bbela, graduate assistant; edited by Roslyn Miller, consultant.

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