While it is relatively easy to construct industrial development strategies and concessions to entice industrial clients, some incentives are not based on sound economic principles and may ultimately cost a local government more than the benefits derived from attracting the industry. Financing Economic Development in the 1980s provides a broad base of information on business trends, factors underlying location decisions, cost-effectiveness of public incentives, and the outlook for local government in declining areas, particularly the Midwest.

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NORMAN WALZER is Professor of Economics and Director of the Illinois Institute for Rural Affairs at Western Illinois University. He is the editor or coeditor of the following titles: Rural Health Care (Praeger, 1992), Rural Community Economic Development (Praeger, 1991), and Financing Rural Health Care (Praeger, 1988).

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