Agricultural Economics Department


Date of this Version

December 2003


Published in Cornhusker Economics, 12/10/2003. Produced by the Cooperative Extension, Institute of Agriculture and Natural Resources, Department of Agricultural Economics, University of Nebraska–Lincoln.


In rural economic development, the old way of doing business no longer works. There used to be a time when all a community had to do was have an adequate infrastructure, a supply of low-cost labor, some tax incentives and a few empty spec buildings, and they could attract new businesses. Granted, there was still competition between communities to attract new businesses, but the components that communities had to work with were known commodities to both the potential firms and to the community.