Reinvigorating Springfield’s Economy: Lessons from Resurgent Cities

73 Pages Posted: 9 Dec 2009

See all articles by Yolanda K. Kodrzycki

Yolanda K. Kodrzycki

Federal Reserve Bank of Boston - Research Department

Ana Patricia Munoz

Federal Reserve Bank of Boston

Lynn Elaine Browne

affiliation not provided to SSRN

DeAnna Green

affiliation not provided to SSRN

Marques Benton

Federal Reserve Bank of Boston

Prabal Chakrabarti

affiliation not provided to SSRN

David Plasse

affiliation not provided to SSRN

Richard C. Walker

Federal Reserve Bank of Boston

Bo Zhao

Federal Reserve Bank of Boston

Date Written: October 1, 2009

Abstract

As part of the Federal Reserve Bank of Boston's commitment to supporting efforts to revitalize the economy of Springfield, Massachusetts, this paper analyzes the economic development approaches of other mid-sized manufacturing-oriented cities during the past half century. From among a comparison group of 25 municipalities that were similar to Springfield in 1960, the study identifies 10 "resurgent cities" that have made substantial progress in improving living standards for their residents, and that are recognized as vital communities in a broader sense by experts on urban economic development and policy. These case studies suggest that industry mix, demographic composition, and geographic position are not the key factors distinguishing the resurgent cities from Springfield. Instead, the most important lessons from the resurgent cities concern leadership and collaboration. Initial leadership in these cities came from a variety of key institutions and individuals. In some cases, the turnaround started with efforts on the part of the public sector, while in other cases nongovernmental institutions or private developers were at the forefront. Regardless of who initiated the turnaround, economic redevelopment efforts spanned decades and involved collaborations among numerous organizations and sectors.

JEL Classification: R0, N0

Suggested Citation

Kodrzycki, Yolanda K. and Munoz, Ana Patricia and Browne, Lynn Elaine and Green, DeAnna and Benton, Marques and Chakrabarti, Prabal and Plasse, David and Walker, Richard C. and Zhao, Bo, Reinvigorating Springfield’s Economy: Lessons from Resurgent Cities (October 1, 2009). FRB of Boston Public Policy Discussion Paper No. 09-6, Available at SSRN: https://ssrn.com/abstract=1520544 or http://dx.doi.org/10.2139/ssrn.1520544

Yolanda K. Kodrzycki (Contact Author)

Federal Reserve Bank of Boston - Research Department ( email )

600 Atlantic Avenue
Boston, MA 02210
United States
617-973-3809 (Phone)

Ana Patricia Munoz

Federal Reserve Bank of Boston ( email )

600 Atlantic Avenue
Boston, MA 02210
United States

Lynn Elaine Browne

affiliation not provided to SSRN ( email )

DeAnna Green

affiliation not provided to SSRN ( email )

Marques Benton

Federal Reserve Bank of Boston ( email )

600 Atlantic Avenue
Boston, MA 02210
United States

Prabal Chakrabarti

affiliation not provided to SSRN

David Plasse

affiliation not provided to SSRN ( email )

Richard C. Walker

Federal Reserve Bank of Boston ( email )

600 Atlantic Avenue
Boston, MA 02210
United States

Bo Zhao

Federal Reserve Bank of Boston ( email )

600 Atlantic Avenue
T-10
Boston, MA 02210
United States
617-973-3061 (Phone)
617-619-8357 (Fax)

HOME PAGE: http://sites.google.com/site/bozhao/

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