StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Economic Development - Essay Example

Cite this document
Summary
ECONOMIC DEVELOPMENT PLAN OF NEW JERSEY STATE Name: Instructor: Course: Date: An economic development plan is a mechanism that establishes a clear purpose and intent that guides a government towards the realization of set goals and objectives. A government utilizes it to uplift the economic state of its jurisdiction…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER97.1% of users find it useful
Economic Development
Read Text Preview

Extract of sample "Economic Development"

Download file to see previous pages

It is only by setting up and effectively executing proper economic development plans that these are achieved. New Jersey State employs a complex economic development plan. This encompasses both government initiatives and private sector initiatives. They all work in tandem towards the realization of a common goal which is uplifting the economy of the state. It is an intricate development plan that has so far worked out perfectly well. One of the arms of the intricate development plan of New Jersey State is the Department of Environmental Protection (DEP).

This is machinery for protecting and enhancing the environment of the state. The environment is a very key aspect of the economy. Economic development would come to a halt if the environment is not protected. Industries would pollute the air with toxic gases; the water bodies with lethal effluents; there would be unbearable noise; there would be uncontrolled deforestation among others. All these have dire consequences for the development of the state. The state would lose its work force due to the death or ailment of its citizens.

All sectors of the economy would thus be poorly managed. There would be poor schools, poor hospitals, and poor transport systems just among others. In short, there would be no development. In order to guard against this the state employs the use of a principal development plan, the Department of Environmental Protection. The BEDI program is seen as possible way to spur the return of brownfields to productive economic use through financial assistance to public entities in the redevelopment of brownfields.

It as well enhances the security and improvement of the viability of a project which has the financing of section 108 guaranteed loan authorities. Hence, due to this, the BEDI grants must be used in conjunction with a new section 108 guaranteed loan commitment. Section 108 is the loan guarantee provision of the Community Development Block Grant (CDBG) program. Another key economic development plan that the state of New Jersey uses is the Voluntary Cleanup Program (VCP). The private sector contributes to the environmental development of the state through this program.

It is an initiative that allows any interested parties to take part in a cleanup program of the state. This helps to alleviate filthy spots in the state. Any interested party that feels they are in a position to foot the challenges that come with cleaning up an identified site are welcome. They should have the will and the ability to conduct the exercise. There is a cleanup Memorandum of Agreement (MOA) for the state. The interested party enters into a cleanup Memorandum of Agreement with the state.

This works out the modalities of the exercise. Through these cleanup programs, the state is capable of enhancing the hygiene of its ambience. By so doing, a stimulus to economic development is inevitable. It is a proper economic development plan. The Brownfields Economic Development Initiative is another major economic development plan from which the state of New Jersey benefits. This could very well be the most outstanding of them all. It is used for the sake of promoting and stimulating economic developm

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Economic Development Essay Example | Topics and Well Written Essays - 750 words”, n.d.)
Retrieved from https://studentshare.org/engineering-and-construction/1450517-economic-development-develop-the-paper
(Economic Development Essay Example | Topics and Well Written Essays - 750 Words)
https://studentshare.org/engineering-and-construction/1450517-economic-development-develop-the-paper.
“Economic Development Essay Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.org/engineering-and-construction/1450517-economic-development-develop-the-paper.
  • Cited: 0 times

CHECK THESE SAMPLES OF Economic Development

Economic Development and Corruption

Running Header: Economic Development and Corruption: Name: Economic Development and Corruption Semester Module Economic Development is a broad concept.... Different people hold different views about the impact of corruption on the Economic Development.... Many people view it as a barrier to Economic Development while others believe that it does not impact the society and Economic Development much (Easterly 2006)....
5 Pages (1250 words) Essay

Europes Economic Development

In the essay “Europe's Economic Development” the author discusses the differences between raw materials and finished goods, and the role that each of them plays in a country's economy.... He discusses their different roles in Europe's Economic Development.... Trading and buying products have always helped to fund Europe's Economic Development and have allowed Europe to grow economically.... Discuss the differences between Northern and Southern Europe in terms of politics, economics, and social development....
2 Pages (500 words) Essay

Economic Development Processes in Greece

Economic Development may be defined as the process of wealth creation through improvement of citizen's well being within a country or region.... It should be noted that there are significant differences between the terms economic growth and Economic Development.... However, Economic Development refers to a much broader aspect.... Economic Development attempts to find the reasons behind the labour differences between countries or it may analyse why certain countries have higher levels of foreign investments compare to others....
13 Pages (3250 words) Essay

Democracy and Economic Development

The paper “Democracy and Economic Development” focuses on the correlation between Economic Development and democracy on the basis of per capita GDP in 2008 and the number of years spent under democracy.... A positive growth rate in GDP indicates the Economic Development of a country.... GDP is an important indicator of a country's Economic Development.... To avoid the effect of the population, per capita GDP is always a better indicator of Economic Development, rather than the total GDP of the country....
2 Pages (500 words) Essay

Economic Development Objectives

This therefore means that technological improvements are necessary conditions and not sufficient conditions since Economic Development is much wider than just economic growth (Kuznets, 419).... There is therefore need to factor in the structural changes associated with improved technology since the net change might be negative or zero after including the costs of structural changes to quantifying Economic Development.... Less developed economies should expect a high mobility and migration of labor in response to pursues Economic Development (Kuznets, 412)....
2 Pages (500 words) Essay

Local Economic Development

An author of the essay "Local Economic Development" reports that the center will facilitate in the education of the local people on how to use the modern form of technology, which will contribute towards attainment of the desired success by the local people.... nbsp;… Local Economic Development professionals have to focus sensitizing the community members to engage in community activities, which are appreciated at a global scene.... Local Economic DevelopmentLocal Economic Development professionals have to focus sensitizing the community members to engage in community activities, which are appreciated at a global scene....
2 Pages (500 words) Essay

Mali Economic Development

In light of this, it is clear that human capital has a significant impact on a country's Economic Development.... As such, Mali's Economic Development over the years lags behind in comparison to most sub Saharan states.... Thus, Mali's failure to possess enough human capital is a challenge and hinders its Economic Development.... Additionally, it is mandated with the development of rural areas via the provision of the necessary infrastructure such as a road network some areas like Segou, Kayes and Koulikoro....
4 Pages (1000 words) Research Proposal

Local Economic Development

ocal Economic Development (L.... This paper on Local Economic Development addresses various issues triggered off by the ongoing economic crisis ranging from its impact on U.... strives to augment competitiveness and thereby promote inclusive sustainable development.... The author of the following paper states that the world today finds itself caught up in probably one of the worst economic crises witnessed, since decades and as this economic catastrophe continues to unravel rapidly, governments all over the world are immersed in devising wide-scale measures....
13 Pages (3250 words) Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us