Measuring the Effectiveness of Equitable Economic Development Strategies

Abstract

Many funders seek to foster equitable and inclusive growth, encouraging grantees to prioritize efforts that will benefit those who have been disadvantaged by past policies and economic development strategies. Doing so, though, is challenging — there are many systemic barriers, localized obstacles, and a lack of evidence to highlight which EED strategies accelerate progress toward access, opportunity, and, ultimately, inclusive growth. This article laid out factors that have limited our ability to create a body of evidence for EED and provided strategies to move forward, including a sample measurement framework and principles for operationalizing a measurement strategy. If funders use their resources to ensure local stakeholders focus on equity in their economic development efforts and invest in measuring the effectiveness of this work, tracking outcomes for different groups of residents, business owners, or property owners, true learning and progress can be made toward equitable and inclusive growth.