Budget Cuts in Government

The economic meltdown triggered a ripple affect among local governments, among others. Like many other departments the Economic Development had its annual budget reduced significantly. The lower budget impacted how the department could approach and plan development in Downtown Phoenix.

Economic research studies, marketing strategies and material, etc. cost a lot of money but are necessary to help convince corporations and businesses to Phoenix. Further, the Economic Development Department often has to vouch financial assistance. The capacity of the department to serve is substantially comprised in lieu of declining budgets. I wonder how innovation can be utilized in departments like the Community and Economic Development Department where seed money is required in order to get expected results.