Document Type
Working Paper
Publication Date
1996
College/Unit
Regional Research Institute
Document Number
9623
Department/Program/Center
Regional Research Institute
Abstract
Several arguments in the local economic development policy literature criticize practitioners for their continuing reliance on industrial recruitment, sometimes referred to as smokestack chasing. Why might practitioners rationally prefer this method over other available techniques? One theory is that practitioners face pressure to accomplish something within a short time frame, resulting in a high discount rate for economic development projects. A survey of local economic development practitioners using the contingent valuation technique supports the theory, finding that developers' discount rate is roughly 20%. The survey tests other theories as well.
Digital Commons Citation
Loy, Beth and Loveridge, Scott, "Local Economic Developers’ Preferences for Industrial Recruitment: A Contingent Valuation Approach" (1996). Regional Research Institute Working Papers. 198.
https://researchrepository.wvu.edu/rri_pubs/198