aicp ED and finance
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| NAICS | The North American Industry Classification System- used by business and government to classify and measure economic activity in Canada, Mexico and the United States. six-digit code.
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| UDAG | Urban Development Action Grant 1978-1989 grants to cities and urban counties which are experiencing severe economic distress to help stimulate economic development activity needed to aid in economic recovery
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| Economic base analysis | looks at basic and non-basic economic activities.
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| Location Quotient formula | local employment in industry x divided by total employment in area / national employment in industry x divided by total national employment
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| Basic activities | economic activity that can be exported, such as automotive manufacturing.
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| Non- basic | economic activity that can not be exported…hair salon.
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| Four main parts of ED | 1.Retaining existing business and industry;2.Attracting business;3.nurturing small and start-up business;4Developing and financing facilities that help capture business or recycle local funds
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| ED focused on _______through the 70’s but now focuses on ______ | manufacturing jobs through the 1970’s – is shifting now towards service sector jobs, smaller businesses, and entrepreneurial ventures.
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| 10 leading economic indicators | unemployment, housing starts, Consumer Price Index (a measure for inflation), industrial production, bankruptcies, Gross Domestic Product, broadband internet penetration, retail sales, stock market prices, and money supply changes
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| Major geographic shifts based on economic activity | Move from older manufacturing towns to sun belt;Move from urban core to suburbs and exurbs – now in the midst of the back to the city movement;Large metro areas to non-metro communities
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| Small Business Administration (SBA) | makes loans directly to businesses and acts as a guarantor on bank loans.also makes loans to victims of natural disasters, works to get government procurement contracts for small businesses assists businesses with management,technical and training issues.
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| Grant Thornton | business climate rankings of the 48 states - NC rated top business climate
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| Push analysis | determines sales capacity of a market area; it determines if the introduction of a new business will generate additional customers.
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| If location quotient is greater than one | area is exporting this good or service
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| If location quotient is less than one | area is importing this good or service
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| Shift-share technique | allocates a portion of the projected expansion to sub-regions or population centers based on the center's present share of the employment
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| Title 32 District | metro district to provide ambulance services, fire protection, hospital, mosquito control, park and recreation, safety protection, sanitation, street improvements, television. General Improvement District
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| Gross national product and Gross Domestic product | value of all final goods and services produced in a country in one year (gross domestic product) plus income that residents have received from abroad, minus income claimed by nonresidents
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| Operating Budget | Everyday expenditures, keeping the lights on, employees, utility bills etc…
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| Capital Budget | Long term purchases…buildings, infrastructure….etc…
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| Capital Improvements Program | 5-10 years – things that will be completed over time, how they will be financed, etc…
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| Line-item budgeting | basic budget, costs of activities projected and inflation is added.
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| PPBS budgeting | Planning, Programming, Budgeting, Systems – based on accomplishing goals set by each department
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| ZBB | Zero Based Budgeting – department starts with zero, and every request for funds is evaluated for it’s impact on “the mission”. Decision packages are created
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| Performance based budget | funding increases as departments meet set goals i.e. the planning department gets more money for plan review as they successfully review a certain number of plans.
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| Pay as you go finance | financing where budgetary restrictions demand paying for expenditures with funds that are made available as the program is in progress
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| Rerserve funds | funds reserved for future purchases
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| General Obligation bonds | bonds are issued after approval by voters. Tax revenue is then used to pay back bonds.
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| Revenue Bond | Use revenue from the thing you bonded for to pay off the bond. good example is baseball stadium.
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| TIF | increase in tax revenue used to construct improvements
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| Special Assessments | specific group is assessed to pay for a specific improvement. i.e. upgraded landscaping on a specific city street. Street residents are assessed to pay for the upgrades
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| Lease Purchase | “rent to own” when gvt. Doesn’t want to borrow $ to fund big improvements, they might pay the lease rate until they are ready to pony up. i.e. new park equipment.
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| Progressive tax | rate increases as income rises – i.e. -Tax the rich more than the poor. Income tax brackets
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| Proportional tax | rate is equal regardless of value – i.e. property tax is 10% if you own a 1 million dollar house or 100,000 dollar house
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| Regressive tax | Tax rate decreases as income rises – i.e. –cigarettes – I have $10 of disposable income, and tax is $1 it’s 10% of my budget. If I have $20 of disposable income, and tax is $1, tax is five percent. Person with more money has a decreased rate.
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| E government | the use of information and communication technology to provide and improve government services, transactions and interactions with citizens, businesses, and other arms of government.
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| Telecommunications Act | 1996 clinton the first major overhaul of United States telecommunications law in nearly 62 years, amending the Communications Act of 1934.
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| New Markets Tax credits | provides tax credit incentives to investors for investing in communities that are economically distressed or have low-income populations.
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| Telecom hotels | A building that houses hundreds and thousands of Web servers for Web hosting organizations, large enterprises and other service organizations.
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| Coupon rate | It is the interest rate that a bond issuer will pay to a bondholder.if you hold $10,000 nominal of a bond described as a 4.5% loan stock, you will receive $450 in interest
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| NAFTA | North American Free Trade Agreement
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| Input-Output Analysis | It shows how the output of one industry is an input to each other industry.
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| Fiscal Impact Study | efforts to estimate the budgetary effects of various types of land uses on local governmental jurisdictions or other local service providers.
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| Average per capita method | take the budget for a town, divide by the number of constituents to determine, per capita expenses for town. Take how many people new development will bring, multiply by average to determine entire fiscal impact.
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| Adjusted per capita method | Adjusts average based on expectations (subjective)
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| Disaggregated per capita method | assumes fiscal impact based on costs of different land uses. i.e. - Retail vs. residential
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| Dynamic method fiscal study | uses statistics and time, accounts for sales tax.
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| Revenue Bond | Use revenue from the thing you bonded for to pay off the bond. good example is baseball stadium.
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| Cost-benefit analysis | – ratio of cost to complete project vs. financial benefit of project. Everything must be put in monetary value, which is hard with environmental and social.
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| Cost-effectiveness analysis | - CE Ratio = (cost new strategy - cost current practice)/(effect new strategy – effect current practice).
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| revolving loan fund | a pool of public- and private-sector funds
that recycles money as loans are repaid.
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