Economic Development And Economic Growth

Decent Essays
Economic development has the potential to transform regions as it creates an enabling environment for economic growth. Economic development is also associated with expanding the capacity of individuals and communities to maximize the use of their available resources. The extent of economic growth depends on the type of the additional products that the economy produces from its investment projects. It has been an instrumental aspect in the growth of Cincinnati. Cincinnati is comprised of a diverse and thriving business ecosystem. Economic development has been essential in ensuring that Cincinnati has a prosperous economic future. It has urbanized at a much more rapid pace than most other states. The Uptown area of Cincinnati is one of the most vibrant areas of the city, including the neighborhoods of Mt. Auburn, Avondale, Fairview, Clifton, Corryville and Clifton Heights. Sectors, such as health care, have experienced steady growth trends to an extent that they have become consistent contributors to the economic growth of Cincinnati community. With one of the lowest costs of doing business in the U.S., Cincinnati has become a global business center with more than 450 foreign-based companies. Economic benefits have resulted from investment in infrastructure that has generated a sustainable flow of services valued by Cincinnati users.
Analysis of Economic Development in Cincinnati
Cincinnati has been one of the fastest-growing regions in the U.S. for all the metro economies.
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