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ED and finance
aicp ED and finance
| Question | Answer |
|---|---|
| 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. |
| 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 |
| Economic base analysis | looks at basic and non-basic economic activities. |
| Location Quotient formula | local employment in industry x divided by total employment in area / national employment in industry x divided by total national employment |
| Basic activities | economic activity that can be exported, such as automotive manufacturing. |
| Non- basic | economic activity that can not be exported…hair salon. |
| 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 |
| 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. |
| 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 |
| 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 |
| 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. |
| Grant Thornton | business climate rankings of the 48 states - NC rated top business climate |
| Push analysis | determines sales capacity of a market area; it determines if the introduction of a new business will generate additional customers. |
| If location quotient is greater than one | area is exporting this good or service |
| If location quotient is less than one | area is importing this good or service |
| 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 |
| 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 |
| 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 |
| Operating Budget | Everyday expenditures, keeping the lights on, employees, utility bills etc… |
| Capital Budget | Long term purchases…buildings, infrastructure….etc… |
| Capital Improvements Program | 5-10 years – things that will be completed over time, how they will be financed, etc… |
| Line-item budgeting | basic budget, costs of activities projected and inflation is added. |
| PPBS budgeting | Planning, Programming, Budgeting, Systems – based on accomplishing goals set by each department |
| 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 |
| 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. |
| 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 |
| Rerserve funds | funds reserved for future purchases |
| General Obligation bonds | bonds are issued after approval by voters. Tax revenue is then used to pay back bonds. |
| Revenue Bond | Use revenue from the thing you bonded for to pay off the bond. good example is baseball stadium. |
| TIF | increase in tax revenue used to construct improvements |
| 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 |
| 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. |
| Progressive tax | rate increases as income rises – i.e. -Tax the rich more than the poor. Income tax brackets |
| 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 |
| 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. |
| 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. |
| Telecommunications Act | 1996 clinton the first major overhaul of United States telecommunications law in nearly 62 years, amending the Communications Act of 1934. |
| New Markets Tax credits | provides tax credit incentives to investors for investing in communities that are economically distressed or have low-income populations. |
| Telecom hotels | A building that houses hundreds and thousands of Web servers for Web hosting organizations, large enterprises and other service organizations. |
| 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 |
| NAFTA | North American Free Trade Agreement |
| Input-Output Analysis | It shows how the output of one industry is an input to each other industry. |
| Fiscal Impact Study | efforts to estimate the budgetary effects of various types of land uses on local governmental jurisdictions or other local service providers. |
| 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. |
| Adjusted per capita method | Adjusts average based on expectations (subjective) |
| Disaggregated per capita method | assumes fiscal impact based on costs of different land uses. i.e. - Retail vs. residential |
| Dynamic method fiscal study | uses statistics and time, accounts for sales tax. |
| Revenue Bond | Use revenue from the thing you bonded for to pay off the bond. good example is baseball stadium. |
| 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. |
| Cost-effectiveness analysis | - CE Ratio = (cost new strategy - cost current practice)/(effect new strategy – effect current practice). |
| revolving loan fund | a pool of public- and private-sector funds that recycles money as loans are repaid. |
Created by:
gmcmillan