Tuesday, October 05, 2004
Here's an interesting article from Dallas on the economic value of an NFL team. Read more.
Citing a recent study by the Federal Reserve Bank in Philadelphia, the Dallas article explains that stadiums induce relatively little "new" spending. That's because people tend to have a fixed budget for entertainment. If they go to a football game, they cut back on going to a concert or going out to eat. Download the FRB study. (Warning: noneconomists might gag on the language.)
(The same rationale applies to the local market for a casino. That's why casinos make economic development sense only if they are clearly going to attract large numbers of people outside the region. A casino may make sense for Tupelo, but not for Detroit.)
Some Background on EDPro Weblog
The purpose of this weblog is to help economic development professionals -- EDPros -- keep up with the changes sweeping our profession. Strap on your goggles. It's a whole new game. There are no experts any more. The only place to learn about economic development is from other EDPros who are doing it.
One other point: the prevaling approach (paradigm, if you like) in economic development is shifting from competition to collaboration. There are a lot of reaasons underlying this shift, but here's the important insight: You, your community, and your region will do better by collaborating and sharing information.
If you are using a news reader, here is the link to syndicate this site:
Here's the link if you are a bloglines subscriber:
Speaking and workshops on Open Source Economic Development
As the idea of Open Source Economic Development starts spreading, more people are asking about it. Visit the I-Open web site to learn more. My colleagues and I are happy to explain the basic concepts in a talk or a workshop. E-mail Susan Alshuler if you'd like to learn more about workshops and speaking.
Background on Ed Morrison
Download some background information on me here.
The economic value of an NFL team
