Public Policy Institute
August 23, 2010
An article in the Des Moines Register looks at the impact of adopting quasi-public economic development groups.
John Krauss, a law professor at Indiana University, believes Iowa would find more advantages than disadvantages with a program like the Indiana Economic Development Corp., a public-private group created in 2005.
The state's CEO - the governor - leads its economic development board. The governor appoints the Economic Development Corp.'s CEO, who is empowered to make deals and seize opportunities that create jobs, said Krauss, director of Indiana University's Public Policy Institute. The result is that Indiana's agency now acts more like a streamlined business, Krauss said.
Budget cuts have trimmed hundreds of millions from education and other programs in Indiana, he said, but the development corporation can tap a nonprofit foundation to help market the state. Indiana's foundation raises as much as $1 million annually.
"It gives the agency the flexibility to go after opportunities that traditional state agencies can't," Krauss said.
To read the full article please click here.