Improve economic vitality of businesses and individuals
Identify Key Indicators of Success
How citizens measure success sets the decision framework. For example, longer life expectancy or lower incidence of disease would indicate to most people that the population was healthier. Similarly, high employment rates usually signal that the economy is doing well.
Identify Proven or Promising Strategies
Research and experience suggest that certain strategies are more likely to help us achieve the identified success indicators. We evaluate whether currently budgeted strategies and activities accomplish what was intended.
Develop a Results-Based Prioritization of Activities
This framework provides the criteria for choosing activities that best accomplish desired outcomes. With limited resources, we invest in activities that connect to chosen strategies.
Indicators & Measures
1. Increase percentage of people employed
a. Percent of Prime Working Age Population Employed
c. Percent state labor force employed
2. Increase percentage of prosperous individuals
3. Increase percentage of profitable businesses
a. Percent of new businesses that survive the first three years.
Purchase Strategies
Successful businesses
Reduce costs
Moderate business cycle
Increase productivity and quality
Vibrant communities
Diverse economy
Provide amenities and services
Care for vulnerable people
Healthy people
Prosperous individuals
Good jobs
Temporary income supports