New Study Released on Rural Economic Development in the New Economy

The Carsey Institute at the University of New Hampshire published Measures and Methods: Four Tenets for Rural Economic Development in the New Economy. The studies authors, Anita Brown-Graham and William Lambe, examine how rural communities are creating jobs, business and wealth in the face of economic challenges. As they relate:

In the past, much of rural economic development relied on exploiting natural resources or recruiting industry, often marketing cheap land and labor as community assets. In an era of global competition, those old approaches no longer yield sustainable results. This article offers four tenets for rethinking methods and measures that promote effective economic development in the twenty-first century.

• Innovation is key to driving growth and prosperity in today’s global economy
• Significant capital investments are required to put innovations to use
• Development efforts must seek to protect valuable natural assets
• Development is a “contact sport,” best pursued through dense networks of personal contacts.

Read more here.