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Embracing Dynamism - The Next Phase in Kansas Economic Development Policy

Embracing Dynamism - The Next Phase in Kansas Economic Development Policy

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Published by Bob Weeks
Embracing Dynamism - The Next Phase in Kansas Economic Development Policy. A guide as to how Kansas can compete in the realm of economic development.
Embracing Dynamism - The Next Phase in Kansas Economic Development Policy. A guide as to how Kansas can compete in the realm of economic development.

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Categories:Types, Research
Published by: Bob Weeks on Jan 31, 2013
Copyright:Attribution Non-commercial

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08/04/2013

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Research Reort
 
Embracing Dynamism: The Next Phase inKansas Economic Development Policy
Arthur P. Hall, Ph.D.Executive DirectorCenter for Applied EconomicsUniversity of Kansas School of Businessarthall@ku.edu
Prepared for
February 2010 
 
 
 
Embracing Dynamism: The Next Phase in Kansas Economic Development Policy 
i
Table of Contents
Kansas, Inc. Board of Directors..................................................................................................................................iiExecutive Summary...................................................................................................................................................1Embracing Dynamism: The Next Phase in Kansas Economic Development Policy.................................................4Introduction and Historical Context............................................................................................................................5Embracing Dynamism: Moving from Benchmarking to Strategy...............................................................................9Embracing Dynamism: Economic Evidence in Support of a New Strategy..........................................................110Embracing Dynamism: A Strategy to Induce Maximum Commercial Experimentation..........................................19Measures.................................................................................................................................................................21Recommendations...................................................................................................................................................23Appendix A: Reprint of Legislative Testimony on HB 2751 (2008 Session)...........................................................31 Appendix B: About the Center for Applied Economics............................................................................................37
List of Figures, Tables and Maps
Figure 1: Shift in Kansas Regional Earnings, 1970 vs. 2007....................................................................................5Figure 2: Industry Shares of Kansas GDP, 1970-75 vs. 2000-05.............................................................................6Map 1: Growth in Shares of Kansas Employment, 1970-2007.................................................................................7Map 2: County-Level Employment Growth, 1970-2007............................................................................................7Table 1: State Economic Development “Tools”.......................................................................................................10Table 2: Kansas Net Job Creation by Business Establishment by Age of Firm that Owns the Establishment.......12Figure 3: Kansas Job Dynamics, 1977-2005..........................................................................................................13Table 3: Average Annual Net Job Creation by Firm Age and Size, 2000-2005......................................................14Figure 4: Economic Growth vs. Job Dynamism, 1990-2005...................................................................................14Table 4: Select Survey Responses from 549 Successful Entrepreneurs................................................................16Table 5: Capital Structure Choice in Initial Year of Operation: 4,163 Start-Ups.....................................................16Figure 5: Business Births and Deaths in Kansas over Recent 5-Year Period........................................................18Figure 6: Kansas Job Dynamics and Agency Results over Recent 5-Year Period.................................................18Figure 7: A Profile of Two Visions for Kansas Economic Development Policy.......................................................19Figure 8: Current Economic Development “Model”.................................................................................................29Map 3: Locations of Agency Offices........................................................................................................................30

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