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A
frequent misconception of economic development
policies is that the only and ultimate goal
is to create more jobs in the state. Adding
more jobs is vitally important, especially in
a state such as Louisiana that suffers from
severe out-migration. However, the ultimate
goal of economic development policies must be
to boost income levels, personal assets, and
the quality of jobs for all citizens of Louisiana.
If more citizens have higher quality jobs, personal
income (and per capita personal income) increases,
enabling more people to enjoy a better quality
of life, purchase their own homes, save money
for retirement, and provide for their children’s
futures. Moreover, policies must also provide
avenues for wealth-creation and asset-building
for all citizens, particularly those with lower
incomes. |
