Economic Growth and Development Outcomes Related to Vibrancy: An Empirical Analysis of Major Employment Centers in Large U.S. Cities
Malizia, Emil
Economic Growth and Development Outcomes Related to Vibrancy: An Empirical Analysis of Major Employment Centers in Large U.S. Cities - Sage, 2019. - Vol.33, Issue 4,2019;(255-266 p.)
Economic developers are well aware of the live-work-play dynamic affecting downtowns and many other major employment centers across the country. This study of 90 employment centers, including 48 central business districts, offers a rigorous analysis of this dynamic. The authors first present a definition of vibrancy and show its connections to the fields of urban economics, economic geography, and urban design. Second, the authors offer face-valid measures of vibrancy that practitioners can replicate in their jurisdictions. Most important, the authors show that vibrancy is an important factor influencing economic development. The vibrancy index measured with 2010 data is positively associated with subsequent employment growth, property inventory expansion (tax base), and income growth. Economic developers should consider becoming more involved in downtown redevelopment by finding effective ways to serve economic-base companies and emerging entrepreneurial firms. As a result, major employment centers could become more productive and innovative places
vibrancy index,
economic development outcomes,
downtown redevelopment
Economic Growth and Development Outcomes Related to Vibrancy: An Empirical Analysis of Major Employment Centers in Large U.S. Cities - Sage, 2019. - Vol.33, Issue 4,2019;(255-266 p.)
Economic developers are well aware of the live-work-play dynamic affecting downtowns and many other major employment centers across the country. This study of 90 employment centers, including 48 central business districts, offers a rigorous analysis of this dynamic. The authors first present a definition of vibrancy and show its connections to the fields of urban economics, economic geography, and urban design. Second, the authors offer face-valid measures of vibrancy that practitioners can replicate in their jurisdictions. Most important, the authors show that vibrancy is an important factor influencing economic development. The vibrancy index measured with 2010 data is positively associated with subsequent employment growth, property inventory expansion (tax base), and income growth. Economic developers should consider becoming more involved in downtown redevelopment by finding effective ways to serve economic-base companies and emerging entrepreneurial firms. As a result, major employment centers could become more productive and innovative places
vibrancy index,
economic development outcomes,
downtown redevelopment