The traditional approach to state-level economic development has often included a reliance on tax incentives. Yet, research examining these state-level practices has documented their relative ineffectiveness, and increasingly, states are shifting their economic development strategies. Read More

This article originally appeared on SSTI.org From Main Street businesses to technology startups, research has shown the rate of new business formation in the United States has plummeted since the 1970s. In the past year, the Digest has frequently cited research from the Economic Innovation Group (EIG), the Kauffman Foundation, and the Federal Reserve on the impacts of declining ... Read More

Yolanda Jones gets to the office at Yolanda’s Construction Administration & Traffic Control (YCAT-C), which she founded in 2010, every day at 6 a.m. There’s a lot happening. YCAT-C has $6 million in contracts earned or lined up for this year, its biggest year so far. She’s got something in the pipeline that could add another $10 million in annual revenues and perhaps 20 more employees in the next year. And, oh, NBA star LeBron James gave Jones a shout-out recently on Facebook and Twitter. She won a small business contest he held last fall. Read More

The city of Lima, Ohio has a long industrial legacy. In the 1920s, Lima thrived with strong demand for its steel. The city was also a hub of innovation, producing most notably the “Lima A-1,” which became the prototype for the modern steam locomotive. By 1930, the city was home to an estimated 93 industrial companies that collectively employed more than 8,000 local residents. Read More

As America’s workforce ages, new industries in need of cutting-edge skills are growing rapidly. Businesses are primed for hiring and creating new jobs, yet many workers find themselves in need of training and education to take advantage of these emerging opportunities. However, employer demand for skilled labor has started to align with the workforce’s appetite for training in ways that produce mutually beneficial outcomes. Read More