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Increasing The Economic Development Benefits Of Higher Education In Michigan, Timothy J. Bartik
Increasing The Economic Development Benefits Of Higher Education In Michigan, Timothy J. Bartik
Timothy J. Bartik
This paper considers how a state such as Michigan can increase the economic development benefits of higher education. Research evidence suggests that higher education increases local economic development principally by increasing the quality of the local workforce, and secondarily by increasing local innovative ideas. These economic development benefits of higher education can be increased by: 1) competent management of conventional economic development programs that focus on business attraction and retention; 2) policies that focus on increasing local job skills by educating the state's residents, as opposed to attracting in-migrants; 3) policies that address specific "market failures" in how higher education …
Investing In Kids: Early Childhood Programs And Local Economic Development, Timothy Bartik
Investing In Kids: Early Childhood Programs And Local Economic Development, Timothy Bartik
Timothy J. Bartik
Early childhood programs, if designed correctly, pay big economic dividends down the road because they increase the skills of their participants. And since many of those participants will remain in the same state or local area as adults, the local economy benefits: more persons with better skills attract business, which provides more and better jobs for the local economy. Bartik measures ratios of local economic development benefits to costs for both early childhood education and business incentives. He shows that early childhood programs and the best-designed business incentives can provide local benefits that significantly exceed costs. Given this, states and …