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May 15, 2006

Attracting good paying jobs

The number one objective of most economic developers is to get jobs with good salaries to come to a community. Dr. Mike Walden examines what economists have to say about the topic.

"This has been a subject of many, many studies a lot of head scratching and number crunching by economists, and I think we can come up with three summary ways to attract good paying jobs," says Walden, an N.C. State University economist.

"One, if you live in an area where there are a lot of educated people, an area where there are colleges and universities, those areas seem to ... have the easiest time attracting good paying jobs. That is, good paying jobs are still attracted to areas where there are highly educated people.

“Secondly, studies find that businesses in today’s very competitive world ... like to have flexibility. They like to have the ability to change the work schedule, to change the composition of the workforce, and so unions oftentimes impede that. So although this may sound controversial, it is nevertheless born out by the data, that businesses are attracted to areas where unions are not very strong.

"And then thirdly, areas with amenities -- and we are talking not just about commercial amenities and other businesses but natural amenities capitalizing on the area’s natural beauty. Those areas seem to have a better chance at attracting good paying jobs."

Posted by deeshore at May 15, 2006 08:00 AM

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