Sectoral Targeting: A Tool for Strengthening State and Local Economies

摘要

Steelmaking in Chicago and food processing and furniture manufacturing in the Northern Tier of Massachusetts are two industries examined in the report of localities which have targeted existing firms for growth. It examines sectoral targeting of this type, which it labels a 'new breed' of policies geared to particular industries and representing strategic planning for growth. Working with existing industries holds more promise for growth than strategies to attract new firms with offers of tax forgiveness, low cost infrastructure and loans. As states and local communities reduce their dependence on the Federal Government for assistance to generate jobs, more attention must be focused on helping existing firms and attracting allied industries.