Document Type

Thesis - Open Access

Award Date

1974

Degree Name

Master of Science (MS)

Department

Economics

Abstract

Communities can pursue a program of industria1 deve1opment by attracting new industry and/or encountering the expansion of existing industry. Shaffer felt that a community should consider two sets of questions before actively assisting additional industry to locate within the community. "The first set of questions pertains to the feasibility of the business. The second set of questions involves determining the economic impact of the business on the community.” The first set of questions is not within the scope of this study; however, the second set will be considered and data. Shaffer felt that a community should consider two sets of questions before actively assisting additional industry to locate within the community. "The first set of questions pertains to the feasibility of the business. The second set of questions involves determining the economic impact of the business on the community.” The first set of questions is not within the scope of this study; however, the second set will be considered. Overall, South Dakota experienced a decline of 2.2 percent in its population during the 1960-70 decade. During the same time frame the urban area of Brookings experienced a population increase of more than twice the national average of 26.6 percent. The projected population for urban Brookings is 20,900 by 1985, a 46 percent increase from the 1970 census count of 14,300. This growth will be induced and supported largely by an expansion of existing industry (currently Brookings is the home of 26 manufacturers and processors) and/or the introduction of additional industry into the community. This study is concerned with estimating the annual economic impact of this industry on the economy of the Brookings Community. Due to expansion plans and possible addition of more new industry to the economic base, Brookings is confronted with making the determination of what costs will be incurred and what benefits can reasonably be expected from the added industry. Estimates of costs and benefits obtained comprise vital economic data needed to determine whether or not this particular addition to the economy has been beneficial and whether or not inducements are warranted for future additions to the economy. The general objective of this study was to implement a model which measures changes in the Brookings Community's private and public sectors induced by the addition of Minnesota Mining & Manufacturing Co. to the local economy and to estimate the annua1 economic impact. Specifically, the objectives were as follows: 1) To develop an economic profile of employees. 2) To determine the net gain (loss} to the community's private sector.

Library of Congress Subject Headings

Minnesota Mining and Manufacturing Company

Community development -- South Dakota -- Brookings

Brookings (S.D.) -- Economic conditions

Format

application/pdf

Number of Pages

112

Publisher

South Dakota State University

Share

COinS