Weighing the Pros and Cons of Attracting New Business Communities use economic development software developed at Georgia Tech to analyze costs and benefits. By Lincoln Bates Competition is keen among communities for attracting business to town.
New firms mean more jobs, additional household income and a better tax base.
Screen capture from the LOCI fiscal and economic analysis software program. That's not always easy. These models are both unreliable for small economies and exclude the all-important cost side of the equation. For example, landing a new firm will stimulate the local economy, but with that growth comes more demand for services. LOCI supports the need for objective, cost-effective economic development, Lann says.