The Positive Impact Of The Economic Development – ALBUQUERQUE, N.M. — The City of Albuquerque Economic Development Department is issuing criteria for evaluating when and how businesses receive city incentives. The department has developed strategic guidelines to grow our economy and will apply the new criteria to all projects seeking incentives and other assistance from the city’s economic development department.
“We bring focus to our economic development efforts by scoring public projects based on a straight forward return on investment approach,” said Mayor Tim Keller. “By measuring each project against these standards, we can create an economy that works for everyone by playing to our strengths and being realistic about what will work in Albuquerque.”
- 1 The Positive Impact Of The Economic Development
- 2 Negative Growth: Definition And Economic Impact
The Positive Impact Of The Economic Development
“Growing Albuquerque’s economy requires a multi-faceted approach,” said Synthia Jaramillo, Director of the City of Albuquerque Economic Development Department. “Our approach is about doing what’s best for Albuquerque and our residents—not chasing national trends or saying yes to every project that comes to town. We will focus resources on the highest net return for the city.”
Negative Growth: Definition And Economic Impact
Companies that seek incentives to build on our known strengths will have a competitive advantage that will make them better investments. We’re looking for businesses that want to capitalize on our key assets: our unique local culture, stunning natural beauty and valuable technology assets, including the intellectual property developed in universities and labs.
We will focus economic and community development on returning disinvestment to key city locations with the most potential to create value. We will prioritize projects that do not create additional taxpayer burdens, leverage existing public and private sector investments, and engage relevant communities to drive economic growth and development.
We are targeting sectors where we have an existing competitive advantage to make Albuquerque a unique destination for these industries. Possible sectors include directed energy, photonics, biomedical research, development and manufacturing, software development and Tribal business.
We deploy resources for the highest net return for the city and its residents. Reliable ROI projects have data to support their economic impact and equity, which can withstand third-party scrutiny. This in turn will foster a better understanding among city staff, City Council and the public of measurable benefits and evidence-based strategies to grow our local economy.
Advantages And Disadvantages Of Population Growth
We emphasize recurring economic base jobs that grow the size of our local economy by building exports and increasing the amount of new money they bring in from outside our local economy. This “net new income” to the local economy can then be spent on business and consumer services locally. High-tech, manufacturing and creative economic jobs tend to be economic base jobs; Retail and service jobs probably won’t.
Locally owned businesses spend an average of 25 cents on the dollar more in the local economy than their out-of-state counterparts, and for too long, our city has tried to import of other cities’ economic development strategies that are not always taken into account. consider our unique local strengths and challenges. We know that finding the right mix of homegrown companies and out-of-state businesses will yield a better rate of return.
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What Is Economic Growth? And Why Is It So Important?
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Editor’s Choice articles are based on the recommendations of scientific editors of journals from around the world. The editors select a small number of articles recently published in the journal that they believe will be of particular interest to readers, or important to their respective research area. The aim is to provide a snapshot of some of the most exciting work published in the various research areas of the journal.
By Kristina Matuzeviciute Kristina Matuzeviciute Scilit Preprints.org Google Scholar * and Mindaugas Butkus Mindaugas Butkus Scilit Preprints.org Google Scholar *
Globally Unequal Effect Of Extreme Heat On Economic Growth
Received: 13 June 2016 / Revised: 1 November 2016 / Accepted: 22 November 2016 / Published: 1 December 2016
This paper aims to enrich the field of research on the topic of the impact of remittances on long-term economic growth. Using an unbalanced panel data covering a sample of 116 countries with different levels of development during the period 1990–2014, we study the relationship between remittances and the level of economic development, as well as its impact on long-term economic growth—since the impact of remittances can be influenced by the level of development of recipient countries. At the same time, we explore the hypothesis about the reduction of a country’s capacity to use remittances for promoting long-term economic growth as remittances increase. To control for endogeneity while estimating the effect of remittances on long-run economic growth, we used OLS (ordinary least squares) with FD (first differences) transformation and FE (fixed effects) approach and other long-run growth controls . Our results showed that in general remittances have a positive effect on long-term economic growth, but the effect differs based on the level of economic development of the country and the abundance of remittances in the economy.
International migration leads to various social, economic, and cultural consequences. One of the migration channels of economic growth is remittances. The increasing flow of remittances has attracted the interest of researchers and policy makers; thus it requires an understanding of their impact on long-term economic growth. Most studies on remittances focus on three main issues. The first group focuses on the direct impact of remittances on income distribution and individual well-being. The second group focuses on the impact of remittances on trade and the country’s current account balance. A third group of research examines the impact of remittances on national economic growth.
According to World Development Indicators (WDI) data in 2014, 528 billion USD of remittances were transferred globally through official channels compared to only 68 billion USD transferred in 1990. For many developing countries, the remittances represent a significant part of the country’s GDP (in Tajikistan, Kyrgyz Republic, Nepal, Tonga, Moldova, Liberia, Haiti, and Gambia they represent more than 20 percent). The size of remittances indicates that they can have a significant impact on economic growth.
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Although there are many scientific papers investigating various aspects of the relationship between remittances and economic growth, little attention has been given to empirical evidence that examines the impact on long-term growth in countries with different different levels of economic development and different remittances-to-GDP ratios. We therefore aim to examine the importance of remittances in promoting long-term economic growth, paying special attention to analyzing the relationship between remittances, level of development, remittances-to-GDP ratio, and long-term growth.
Researchers have found both positive [1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13] and negative [14, 15, 16] effects of remittances on growth. of the economy. Also, there are studies that show that there is no effect of remittances on economic growth . So there is no definitive answer about their impact on economic growth: the situation of different findings is possibly the result from the many channels through which remittances can affect economic growth. The effect of remittances depends on the socioeconomic conditions of a country [18, 19, 20], and the channels through which the effect of remittances on economic growth are complex and tend to be country specific  . It is important to know which factors shape this effect in order to properly regulate this process. Special attention is usually paid to the financial development of the country [21, 22]. As a universal theory or model that explains the interaction between remittances and a country’s economic growth, our research provides insight into the potential channels through which remittances affect long-term growth, and aims to examine how the level of development and the abundance of remittances in the economy, as two socioeconomic conditions, shape the effect of remittances on long-term growth.
This paper aims to examine the relationship between remittances and long-term economic growth and also a country’s ability to use remittances for promoting long-term economic growth. Using panel data from 116 countries with different levels of development and remittances-to-GDP ratios, this paper provides an econometric analysis of the impact
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