IDEAS home Printed from https://ideas.repec.org/p/osf/socarx/anqut.html
   My bibliography  Save this paper

Regional Economic Development

Author

Listed:
  • Gray, William

Abstract

This paper is an analysis of one major local economic development policy in New York City. NYCEDC (New York City Economic Development Corporation) recently is implementing a program “UrbanTech NYC” to support entrepreneurs and innovators to help them find solutions for challenging problems in sectors of energy, transportation, water, waste, and agriculture in the city. UrbanTech NYC provides shared spaces and resources, equipment, pilot opportunities, prototyping, and learning opportunities to let these entrepreneurs and innovators being innovative in smart technologies. They provide two hubs, one in Manhattan, and one in Brooklyn with over 100,000 square feet of affordable and flexible space along with prototyping and piloting equipment. The paper also identifies three other policy options that New York City can adopt and implement instead of the current policy option. They briefly include maintaining the status que, providing tax incentives to big established well-known companies, and investing in implementation and provisions of smart infrastructure to attract entrepreneurs and firms to create a smart industry cluster in the city. Each of these policy options have positive and negative aspects that will be discussed in details through the paper. In addition, this paper provides an evaluation of the current policy option accompanying by alternative policy options. The paper will be concluded that the preferred policy is the current policy. The current policy, “UrbanTech NYC”, is a novel platform for new entrepreneurs and innovators that aligns with other simultaneous policies and programs in New York that together they can be successful in their goals. Since these new policies try to deal with newly identified problems in the city with novel solutions and perspective, they are actively involved in knowledge spillover and information, reducing regulatory burdens on entrepreneurs, so they are worth trying.

Suggested Citation

  • Gray, William, 2016. "Regional Economic Development," SocArXiv anqut, Center for Open Science.
    • Handle: RePEc:osf:socarx:anqut
    DOI: 10.31219/osf.io/anqut
    as

    Download full text from publisher

    File URL: https://osf.io/download/5b5f4ce2f63e21000eef5167/
    Download Restriction: no
    File URL: https://libkey.io/10.31219/osf.io/anqut?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Timothy J. Bartik, 2007. "Solving the Problems of Economic Development Incentives," Book chapters authored by Upjohn Institute researchers, in: Ann Markusen (ed.), Reining in the Competition for Capital, chapter 5, pages 103-139, W.E. Upjohn Institute for Employment Research.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mark D. Partridge & Dan S. Rickman & M. Rose Olfert & Ying Tan, 2015. "When Spatial Equilibrium Fails: Is Place-Based Policy Second Best?," Regional Studies, Taylor & Francis Journals, vol. 49(8), pages 1303-1325, August.
    2. Timothy J. Bartik, 2009. "The Revitalization of Older Industrial Cities: A Review Essay of Retooling for Growth," Growth and Change, Wiley Blackwell, vol. 40(1), pages 1-29, March.
    3. Nathan M. Jensen & Michael G. Findley & Daniel L. Nielson, 2020. "Electoral Institutions and Electoral Cycles in Investment Incentives: A Field Experiment on Over 3,000 U.S. Municipalities," American Journal of Political Science, John Wiley & Sons, vol. 64(4), pages 807-822, October.
    4. Scott Loveridge & Janet Bokemeier & Peter Kakela & Elan Satriawan, 2010. "Are All Discount Rates Equal? A Note On Time Preferences Across Public And Private Benefits In Michigan'S Upper Peninsula," Journal of Regional Science, Wiley Blackwell, vol. 50(4), pages 858-871, October.
    5. Carlianne Patrick, 2014. "Does Increasing Available Non-Tax Economic Development Incentives Result in More Jobs?," National Tax Journal, National Tax Association;National Tax Journal, vol. 67(2), pages 351-386, June.
    6. Paul Rothstein & Nathan Wineinger, 2007. "Transferable tax credits in Missouri: an analytical review," Regional Economic Development, Federal Reserve Bank of St. Louis, issue Nov, pages 53-74.
    7. Accetturo, Antonio & de Blasio, Guido, 2012. "Policies for local development: An evaluation of Italy's “Patti Territoriali”," Regional Science and Urban Economics, Elsevier, vol. 42(1-2), pages 15-26.
    8. Yuanshuo Xu & Mildred E. Warner, 2022. "Crowding Out Development: Fiscal Federalism after the Great Recession," Environment and Planning A, , vol. 54(2), pages 311-329, March.
    9. Donghyuk Kim, 2023. "Interjurisdictional Competition and Coordination: Evidence from Kansas City," NBER Chapters, in: Policy Responses to Tax Competition, National Bureau of Economic Research, Inc.
    10. Russell S. Sobel & Gary A. Wagner & Peter T. Calcagno, 2024. "The political economy of state economic development incentives: A case of rent extraction," Economics and Politics, Wiley Blackwell, vol. 36(1), pages 104-151, March.
    11. Bukenya, James O., 2009. "Employment Growth in the Rural South: Do Sectors Matter?," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 45903, Southern Agricultural Economics Association.
    12. Shaoming Cheng & Hai (David) Guo & Cathy Yang Liu, 2020. "Incentivized for Leveling the Playing Field: Do State Economic Incentives Compensate for High Taxes?," Economic Development Quarterly, , vol. 34(2), pages 101-115, May.
    13. Tammy Leonard & Xi Yang & Lei Zhang & Connor Reed, 2020. "Impact of Property Tax Abatement on Employment Growth," Economic Development Quarterly, , vol. 34(2), pages 209-221, May.
    14. Janet Hammer & Gary Pivo, 2017. "The Triple Bottom Line and Sustainable Economic Development Theory and Practice," Economic Development Quarterly, , vol. 31(1), pages 25-36, February.
    15. Kaitlyn Harger & Amanda Ross, 2016. "Do Capital Tax Incentives Attract New Businesses? Evidence Across Industries From The New Markets Tax Credit," Journal of Regional Science, Wiley Blackwell, vol. 56(5), pages 733-753, November.
    16. Mikhail Ivonchyk, 2022. "Local Economic Development Policies and Business Activity: Dynamic Panel Data Analysis of All County Governments in the State of Georgia," Economic Development Quarterly, , vol. 36(2), pages 92-107, May.
    17. Timothy J. Bartik, 2020. "Using Place-Based Jobs Policies to Help Distressed Communities," Journal of Economic Perspectives, American Economic Association, vol. 34(3), pages 99-127, Summer.
    18. Amanda Ross & Kaitlyn Wolf, 2014. "Do Market-Based Tax Incentives Attract New Businesses? Evidence from the New Markets Tax Credit," ERSA conference papers ersa14p653, European Regional Science Association.
    19. T. William Lester & Nichola J. Lowe & Allan Freyer, 2014. "Mediating Incentive Use," Economic Development Quarterly, , vol. 28(2), pages 132-146, May.
    20. Francois K. Doamekpor & Julia Beckett, 2015. "Federal Economic Development Transfers to State and Local Governments," Economic Development Quarterly, , vol. 29(1), pages 49-64, February.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:osf:socarx:anqut. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: OSF (email available below). General contact details of provider: https://arabixiv.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.