STATE ECONOMIC-DEVELOPMENT POLICY AND PRACTICE IN THE UNITED-STATES -A SURVEY ARTICLE

The states have taken an increasingly active role in economic developm ent policy during the past two decades. This article presents both a c omprehensive overview of the state strategies and a statistical overvi ew of the changing economic conditions from which they arise. The stra tegies can be grouped into three distinct orientations. Chasing and ac quisition focuses on bringing into the state businesses, export orders , federal facilities and contracts, tourists, retirees, and other exte rnal sources of growth. Self-improvement focuses on helping businesses and people in the state become more competitive by improving educatio n systems, stimulating research, helping firms adopt new technologies, providing venture capital, and improving roads, communications, and o ther infrastructure. Knowledge and process focuses on doing those thin gs better by making greater use of markets and business practices.