Competitiveness and Economic Development
The competitiveness of a region largely consists of the quality of its economic foundations, including human capital and the physical infrastructure. The term “competitiveness” largely is synonymous with “business climate.” Economic development refers to efforts to improve the economic well-being and quality of life in a region by retaining and creating jobs, and by maintaining and increasing incomes.
Introduces the concept of economic competitiveness, discusses location factors important to businesses, and evaluates competitiveness in Arizona. The assessment of Arizona’s business competitiveness is mixed, consistent with the middle-of-the-states rank of the most-reliable business climate studies.
Projects Arizona’s economic competitiveness following legislative actions in 2011 and 2012. The recent packages of business tax reductions and enhanced incentives taken individually will boost competitiveness; however, this will be offset by an inability to provide the public infrastructure and services needed by businesses due to the reduction in government revenue.
Related Articles and Reports
Accelerating Infrastructure Investment Across the Country, Milken Institute, January 2021
Panel Database on Incentives and Taxes, W.E. Upjohn Institute
It’s Time for States to Invest in Infrastructure, Center on Budget and Policy Priorities, March 2019
State Competitiveness Report, Beacon Hill Institute, 2018
Five Things You Thought You Knew About Big Business vs. Small Business… But Didn’t, The Information Technology and Innovation Foundation, September 2018
Recognizing Infrastructure’s Role as a Local Economic Anchor, Brookings Institution, August 2018
Landing Amazon HQ2 Isn’t the Right Way for a City to Create Jobs. Here’s What Works Instead, Brookings Institution, August 2018
The Competitive Edge: A Policymaker’s Guide to Developing a National Strategy, The Information and Technology Foundation, December 2017
Time for Washington to Think Like a State, Forbes, January 2017
Restoring Investment in America’s Economy, The Information and Technology Foundation, June 2016
Transportation and Arizona, 106th Arizona Town Hall, April 2015
Drivers of Job Creation, Center for American Progress, June 2014
Competitiveness, Innovation and Productivity: Clearing Up the Confusion, The Information and Technology Foundation, August 2013
Building Arizona’s Future: Jobs, Innovation & Competitiveness, 96th Arizona Town Hall, April 2010
Charting A Course for Arizona’s Technology-Based Economic Development, Milken Institute, December 15, 2009