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Article: Benchmarking a Regional Economy: Bloomington and Monroe County.(Statistical Data Included)
- Article from:
- Indiana Business Review
- Article date:
- March 22, 2001
- Author:
CopyrightCOPYRIGHT 2001 Indiana University, Indiana Business Research Center. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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If you receive a 5 percent pay raise, should you be pleased or disappointed? The answer depends greatly on how your peers did. If others in your department all got 3 percent, then your 5 percent sounds pretty good. If everyone else got 10 percent when you were given just 5 percent, then maybe you have a problem.
Regional economic development can be viewed in the same way. If your region grew 5 percent (by some measure), that counts as good performance only if comparable regions mainly grew less than that. The question then is: which regions are comparable to my region?
Last year, the Bloomington Economic Development Corporation (BEDC) brought that ...