No Magic Bullet for Prosperity

So says William Fulton, mayor of Ventura and longtime writer on economic development issues. He says that economic growth is a "mysterious process" that can't be won by wooing a big employer to your town.

So what is the secret to good economic development?

Fulton writes:

"The fact that some communities are prosperous and some are not is hardly an accident. In large part, success is the result of deliberate effort on the part of business organizations, nonprofit entities such as research institutions and universities, and - yes - government agencies to nurture the growth and sustainability of particular businesses and particular types of economic activity in particular locations. "

Full Story: City and State Smokestack Chasing Blows Mostly Smoke

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