Economic Planning for Multicounty Rural Areas: Application of a Linear Programming Model in Northwest Arkansas
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A linear programming economic development model can help regional planners influence the most desirable type of growth for rural areas. Optimal resource use, investment, and industry mix for manufacturing, services. government. and agriculture are reviewed for nine regional macroeconomic goals, with the tradeoffs evaluated for attaining one objective over another. Multiple regression analysis allows the most desirable industries to be identified by economic characteristics such as capital output and value added/labor rather than product type. Although the results are specific for a region in northwest Arkansas, the general conclusions should be valid for other areas as well.