The Market for Local Economic Development

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Abstract
Suburbs are now active participants in the market for economic development. They use local policies to compete with one another for the location of business and for the growth of local employment. Despite the fact that suburbs support a wide range of policies to lure business growth, empirical and theoretical issues remain regarding the effectiveness of their pro-growth policies. This article investigates the growth of the retail sector in a sample of suburbs in the years 1972-1982. The effects on retail growth of local tax and service packages are estimated and compared to the effects of other forces over which local governments have less direct control. It is argued that the limits on the efficacy of local policy in attracting retail development are severe.

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