Local Officials Guide to Defense Economic Adjustment
Abstract
The reductions in defense spending are a direct result of changes in federal policy. More than that, they will represent a significant change in the way of life in hundreds of communities nationwide that are home to defense prime contractors and subcontractors, as well as defense installations. Economic adjustment -- the process of responding to and rebounding from the defense reductions -- presents both challenges and opportunities for communities and their elected leadership. Economic adjustment is a complex and difficult undertaking involving employee issues, industry policies and practices, and the overall economic competitiveness of not only a community, but also a region, as economic change does not respect geographic boundaries. It is the interrelationship of these problems and the need to balance all interests at once that makes determining the appropriate strategies so difficult. Local officials should use this Guidebook as a roadmap for communities undergoing, or likely to undergo, local economic changes as a result of changes in defense spending or changes in any other significant market forces such as demand, technology, or global competition. The guidebook is designed to do the following: (1) raise the consciousness of local officials and others about the significance of changes in the defense budget; (2) begin to define the magnitude of the effect of these changes on local economies; (2) outline a process and provide tools to help local officials define their community's dependence on defense dollars; (4) outline an action-oriented process of local economic adjustment that is founded on developing a diversified local economy and integrates parallel adjustment strategies for the community, industry, and employees; and (5) define the local officials' critical role in successful local economic adjustment.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jan 01, 1992
- Accession Number
- ADA259332
Entities
People
- Virginia M. Mayer