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Economic Development Survey: Fed Efforts Fall Short

By John S. McClenahen Although 62% of economic development professionals responding to survey last month said economic conditions in their communities or regions were good, 54% rated the overall U.S. economic environment as poor or very poor. What's more, 80% of those responding to questions posed by the International Economic Development Council in cooperation with Greater Phoenix Economic Council stated the Bush Administration's tax stimulus had had little or no impact-or a negative impact -- on their communities. And an overwhelming majority -- 86% -- said the federal government needed to be more aggressive in addressing the economic needs of cities and states and making the country more competitive in the international contest for jobs and investment. However, the respondents indicated protectionist U.S. trade policies weren't the answer. They gave priority to investment in education, investment in infrastructure and entrepreneurial development. Some 912 people responded to the survey, which was conducted between Oct. 7 and Oct. 17.

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