Feb 9, 2023 7:39 PM
What to measure?
Economic development is a subject that has multiple measurement points that can be used. In a country where commissioning services from overseas firms it may be as simple as measuring the amount of money spent with in-country firms. In other cases it may be more to do with spending in a tighter geographic area, such as an economically deprived area of a city.
Most economic development initiatives tend to focus on the creation of jobs, as new jobs can provide administrators with reduced costs on social programmes and increased revenue from taxes and rates. For the purposed of this use case we will do the same.