Performance Measurement in State Economic Development Agencies: Lessons and Next Steps for GDITT

The purpose of this project was to develop the basis for a comprehensive performance monitoring system for the Department of Industry, Trade and Tourism. This performance monitoring system involved the development of performance measures as well as methods and processes for the collection, maintenance and reporting of the related data. As a result of the work completed for this project, GDITT has a workable set of performance measures for its major divisions: Economic Development, Film, Video and Music, International Trade, and Tourism. Report #9

Firm Location Decisions and Information Needs

A significant portion of Georgia's economic development policy is targeted towards attracting businesses to locate in Georgia. In this process, businesses weigh their alternatives and select a location based on certain criteria. In order for businesses to accurately assess location alternatives, they must have appropriate information to assist in their decision process. In Georgia, a portion of this information comes from the Department of Industry, Trade and Tourism, and/or another economic development entity within the state. There is a gap in our knowledge, however, about how business prospects considering a location in Georgia perceive both the information that Georgia provides and the incentives that are offered in actual economic development deals. Business prospects include not only actual firms, but also the group of professional site location consultants around the country. In order to place Georgia in its most competitive position as well as to provide the most useful information to business prospects, it is important to understand the viewpoint of business prospects and the prospecting community in their business location decision process. This report documents the information needs of businesses seeking to relocate and perceptions of the usefulness of information provided in that process. Report #9