Explain in detail the strategies of economic growth
Answers
STATE ECONOMIC DEVELOPMENT STRATEGIES
States invest in three areas to encourage job and wage growth: the marketplace, the workforce, and the community. Successful economic development strategies coordinate all three types of investment. This report shows governments how to better unify these strategies, track results, and direct resources to programs that achieve desired outcomes.
Successful economic development strategies will coordinate investments, making sure to align goals and approaches across different agencies and programs. Governments should target their resources toward gaps in support that businesses cannot fill through the private marketplace. Business assistance and tax incentives are common tools that governments use to promote devleopment, but workforce and community investments can also help create the conditions for sustainable economic growth.