Introduction Have you ever considered what it actually means to have wealth? Usually when we say someone is wealthy, we mean that they have a lot of money. But wealth is a lot more than that. Wealth is defined more broadly as “the social worth of an economy’s entire productive base [which] consists of the…
Tag: economic development
Location Quotient (LQ) for Iowa Economic Development
Introduction The Location Quotient (LQ) is an interesting tool used in community development, economics, urban planning and related fields as part of what is called Economic Base Analysis. This is an important tool for local communities to understand, as it can help them with their economic and community development activities. Economic Base Analysis Economic base…