Saturday, February 18, 2017

Urbanization has led to disproportionate economic growth in the largest US metro areas

The question here is where do we see this economic growth via Brookings Institute:
One such change economic developers must grapple with is the federal political landscape, which has shifted dramatically following the 2016 elections. Though the impacts of policies from the Trump administration and GOP-led Congress on cities remain unclear, two outcomes seem likely. First, there will be fewer dollars flowing to localities. The Trump administration and GOP-led Congress are reportedly considering across-the-board cuts to federal non-discretionary spending, which has declined steadily as a percentage of GDP since the recession and is already approaching 50-year lows. Second, there will be more discretion provided to states and local communities. President Trump has indicated a preference for block grants and devolving power from the federal government, declaring in his inaugural address that “today… we are transferring power from Washington, D.C. and giving it back to you, the people.” Both outcomes would place a greater burden on local actors to create good jobs and close income disparities in their region. In other words, the work of economic developers and their partners at the metropolitan and regional scale has never been more important.
h/t Newsalert

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