A New Definition For Economic Development

Posted by Guillermo Mazier on Oct 22, 2012 10:48:11 AM

Atlas is Redefining How We Look at Economic Development

Economic development is complex. But there are ways to better understand it – and be better at it. In order to understand it though, you first have to define it.

Atlas Advertising defines High Performance Economic Development as “the dedicated pursuit of any objective, no matter what the current objective may be, coupled with measured progress along the way.”

Nice, succinct definition. But how did we arrive here? Atlas -- along with help from our clients, advisors, many members of the IEDC, and 100+ communities -- set out to better understand economic development. Here’s how we did it:

  1. We developed a simple metrics framework based on activities in outcomes, focusing on communities of various sizes
  2. We collected data on those metrics from over 100 communities in the U.S. and Europe
  3. We also synthesized that data into performance benchmarks for communities of various sizes
  4. We then identified the highest performing communities in each population group
  5. And finally, we identified the highest performing, lowest-cost initiatives that drive the desired metrics

Curious about the results?

Download Atlas Advertising's complete 30+ page report HERE.

Topics: Online Marketing

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