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A Research Approach for Tracking Local Economic Conditions in Small-Town America

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  • John M. McGrath
  • Ronald Vickroy

Abstract

This article describes a practical, low-cost research approach for tracking economic conditions in a small community. The federal government and even some state and large city governments have already addressed this issue with national and regional economic forecasts. But what about the fate of small, isolated metropolitan areas? National and regional forecasts that provide information of a macro nature do not contain data relevant to businesses in a small community. This article describes an approach used in a small Pennsylvania community that has employed a longitudinal study of local economic conditions extending over the past 8 years. The information obtained from this study has proven beneficial to local businesses, economic development agencies, elected officials, and others who are involved in improving the economic health of the community. The approach is technically and financially within reach of local organizations with modest research budgets and can be adapted readily to help other small communities.

Suggested Citation

  • John M. McGrath & Ronald Vickroy, 2003. "A Research Approach for Tracking Local Economic Conditions in Small-Town America," Economic Development Quarterly, , vol. 17(3), pages 255-263, August.
    • Handle: RePEc:sae:ecdequ:v:17:y:2003:i:3:p:255-263
    DOI: 10.1177/0891242403255082
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    References listed on IDEAS

    as
    1. Rebecca Winders, 2000. "Small Business Development and Nonmetropolitan Job Growth in Georgia," Growth and Change, Wiley Blackwell, vol. 31(1), pages 82-107.
    2. Stephan Weiler, 2000. "Information and Market Failure in Local Economic Development: A New Role for Universities?," Economic Development Quarterly, , vol. 14(2), pages 194-203, May.
    3. Stephan Weiler, 2001. "Unemployment in Regional Labor Markets: Using Structural Theories to Understand Local Jobless Rates in West Virginia," ILR Review, Cornell University, ILR School, vol. 54(3), pages 573-592, April.
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