Affiliations: [a] Associate Professor of Economics, National City
Research Fellow, and Executive Director, School of Economics and Public Affairs,
University of Louisville, Louisville, KY 40292 USA. Tel.: +1 502 852 4841; Fax:
+1 502 852 7672; E-mail: pacoom01@athena. louisville.edu
Abstract: In this paper, I describe a system of comparative economic performance indicators
that have been used to guide economic policy in the Louisville metropolitan
area. Nine dimensions of metropolitan area performance are identified:
geographic, demographic, economic structure, economic performance, cost of
business, cost of living, human capital, physical capital, and quality of life.
Hundreds of measures were assembled across these categories for the Louisville
metro and its eighteen prime competitor markets. Data were obtained from the
standard public databases, but also from trade associations, accounting reports,
research studies, and private surveys. This wider approach to metro data
organization was rich in content and policy-oriented insights. As comparative
measures were assembled for each dimension, qualitative statements were composed
that exposed Louisville's strengths and weaknesses. Business and political
leaders found the scope, depth, and implications of the measures assembled
compelling enough that local economic development policy and institutions have
since been realigned to address the newly evident challenges.
