Economic Development: Efficiency and Effectiveness of Fragmented Programs Are Unclear

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Testimony issued by the Government Accountability Office with an abstract that begins "This testimony discusses the potential for duplication and fragmentation in economic development programs. In March 2011 and more recently in May 2011 we reported on potential duplication among federal economic development programs. We are involved in ongoing work focusing on economic development programs because if they are administered efficiently and effectively, they can contribute to the well-being of our nation's economy at the least cost to taxpayers. Absent a common definition for economic development, we had previously developed a list of nine activities most often associated with economic ... continued below

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United States. Government Accountability Office. May 25, 2011.

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Description

Testimony issued by the Government Accountability Office with an abstract that begins "This testimony discusses the potential for duplication and fragmentation in economic development programs. In March 2011 and more recently in May 2011 we reported on potential duplication among federal economic development programs. We are involved in ongoing work focusing on economic development programs because if they are administered efficiently and effectively, they can contribute to the well-being of our nation's economy at the least cost to taxpayers. Absent a common definition for economic development, we had previously developed a list of nine activities most often associated with economic development. These activities include planning and developing strategies for job creation and retention, developing new markets for existing products, building infrastructure by constructing roads and sewer systems to attract industry to undeveloped areas, and establishing business incubators to provide facilities for new businesses' operations. Our recent work includes information on 80 economic development programs at four agencies--the Departments of Commerce (Commerce), Housing and Urban Development (HUD), and Agriculture (USDA) and the Small Business Administration (SBA). SBA administers 19 of the 80 programs. According to the agencies, funding provided for these 80 programs in fiscal year 2010 amounted to $6.2 billion, of which about $2.9 billion was for economic development efforts, largely in the form of grants, loan guarantees, and direct loans. Some of these 80 programs can fund a variety of activities, including such non-economic development activities as rehabilitating housing and building community parks. This testimony today discusses our work on (1) the potential for overlap in the design of these 80 economic development programs, (2) the extent to which the four agencies collaborate to achieve common goals, and (3) the extent to which the agencies have developed measures to determine the programs' effectiveness."

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Government Accountability Office Reports

The U.S. Government Accountability Office (GAO) is an independent, nonpartisan agency that works for the U.S. Congress investigating how the federal government spends taxpayers' money. Its goal is to increase accountability and improve the performance of the federal government. The Government Accountability Office Reports Collection consists of over 13,000 documents on a variety of topics ranging from fiscal issues to international affairs.

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  • May 25, 2011

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  • June 11, 2014, 5:03 a.m.

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United States. Government Accountability Office. Economic Development: Efficiency and Effectiveness of Fragmented Programs Are Unclear, text, May 25, 2011; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc294875/: accessed December 15, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.