Recently in Economic Development Category

Today the St. Louis Rams, 0-3 so far this season, pin their hopes on switching to a new starting quarterback in the effort to notch the first win of the season. A victory could not only lift the spirits of Rams fans, but could also put a little more money into the pockets of St. Louisans.

According to some recent research by Michael C. Davis, associate professor of economics at Missouri S&T, and Christian End, a former member of the S&T faculty who now teaches at Xavier University in Ohio, a winning NFL team can have a statistically significant effect on a metro area's personal income. David Nicklaus of the St. Louis Post-Dispatch discussed the research in a recent column.

If you ask Dr. Scott Grasman, associate professor of engineering management and systems engineering at Missouri S&T, he'll tell you he has just the tool you need.

Grasman is helping the Missouri Department of Transportation (MoDOT) develop software to assess future projects involving the state’s waterways. His is part of the transportation department’s study of freight optimization and development in Missouri. MoDOT hopes to develop a freight and logistics development process that focuses on waterways, but is transferable to other modes of transportation, such as trucking and railways.

The tool developed by Grasman scores each proposed improvement project based on a variety of factors, including economic impact, impact on existing operations, urgency of need and available funding.

Will a win for either Chicago or Indianapolis in tonight's Super Bowl mean an economic boost for the winning city? Perhaps not as much of an impact as a winning season might have on a community.

So says Michael Davis, an assistant professor of economics and finance at UMR. Davis is one of the sports economics experts quoted in a recent news article about the economic impact of a Super Bowl victory. According to the news report, Davis believes that "general team success, as defined by regular-season wins, is just as important as a Super Bowl victory."

Davis, an assistant professor of economics at the University of Missouri-Rolla, said the Bears' 13-3 record this season means a gain in per capita income of $142 for Chicagoans when compared against an 0-16 season.

Davis explains the rationale in more depth in this research paper (PDF) co-authored with former UMR faculty member and sports psychology expert Christian End. For his part, End believes winning teams breed economic returns because fans feel better about themselves -- and more competent -- after a victory. "If I believe I'm a winner and I go out on my sales call, that belief can lead to an increase in confidence and productivity." End said.

The future of Rolla's economic vitality hinges on the development of a technology park at UMR.

That was the message Elizabeth Bax, executive director of the Rolla Regional Economic Commission, presented to community leaders on Tuesday, Jan. 15, as part of an annual report to the community. Bax, who is beginning her second year as RREC's executive director, also pointed out that new commercial development in Rolla and the expansion of Hypoint Industrial Park east of Rolla were also crucial to the community's economic future.

But central to her theme was the development of a UMR tech park and the need "to pin our economic strategy to the university."

Full story at TheRollaDailyNews.com.