RECOMMENDED SERVICE EFFORTS AND ACCOMPLISHMENTS (SEA) REPORTING INDICATORS FOR ECONOMIC DEVELOPMENT

Economic development can have multiple aims. Most commonly discussed areas within economic development activity are: 1) business attraction and marketing; 2) financial assistance programs; and 3) export programs. Below follow GASB recommended Service Efforts and Accomplishments indicators for Business Attraction/Marketing Programs (Hatry et al. 1990: 80-82).

 INPUTS

• Dollars spent on the program's activities (current and constant dollars)

• Number of staff-hours expended by the program

 OUTPUTS

• Number and percentage of business prospects identified that may be interested in locating

• Number of businesses from target industries that are interested in locating

• Number of contracts made with firms interested in locating

• Number of firms that received assistance from the program (by type of assistance)

• Percentage of leverage (non-governmental) funds used to finance the project

OUTCOMES

Intermediate Outcomes

• Number of visits by interested businesses that received assistance

• Number and percentage of responses to advertising or direct mail solicitations

Longer-term Outcomes

• Number and percentage of firms that received ascetic and located elsewhere

• Number and percentage of firms receiving assistance that located in jurisdiction and that felt that assistance contributed to their location decision

• Number of actual jobs created by assistance 12 months/24 months after their initial contact with the program (and comparison with projected number of jobs created)

• Average wage of jobs created by locating firms that receive assistance

• Dollars of capital investment made by locating firms receiving assistance 12 months/ 24 months after the announcement of their location decision

• Amount of added tax revenue relating to assisted firms that located in the jurisdiction

• Percentage of clients rating the timeliness of each service they received as excellent, good, fair, or poor

• Percentage of clients rating the helpfulness of each service they received as excellent, good, fair, or poor

• Percentage of clients locating elsewhere for reasons over which agency had some influence

• Estimated number of workers displaced by assisted firms that located

 EFFICIENCY

• Program expenditures per actual jib created at 12 months/24 months after receiving assistance

• Program expenditures per estimated tax dollar generated by client firms

 EXPLANATORY INFORMATION

Federal indicators of economy, such as

• GDP

• Interest rates

• New housing starts

• Consumer price index, etc.

Local economic conditions

• Prevalence of certain types of industry

• Availability of labor force

• Special attractions in the jurisdiction, etc.

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