Federal Reserve Conference Focuses on Economic Development

Why are some cities thriving while others are not? More than 140 civic and business leaders, researchers, educators, and economic development professionals grappled with that question at The Economics of Geography: Cities, Growth, and Economic Development, a conference hosted by the Federal Reserve Bank of Cleveland on April 3–4, 2008.

“With the help of our guest speakers, we hope to learn from one another what factors support dynamic economies in cities, and what factors inhibit dynamism,” said Mark Sniderman, executive vice president at the Bank, as he opened the conference.

The first day featured academic researchers who discussed concepts including: the relationship between IT adoption and the education level of a city’s workforce; the gentrification of urban centers; the role of cities in idea generation; the relationship between new plant openings and productivity at incumbent plants; the effects of tax and other business incentives; and enterprise zones and resident employment.

Today’s conference speakers included business and civic leaders who discussed the need for regional collaboration and what drives innovation.

The Federal Reserve Bank of Cleveland is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. As the nation's central bank, the Federal Reserve System formulates U.S. monetary policy, supervises certain banks and all bank holding companies, and provides payment services to depository institutions and the U.S. government. Payment services include check clearing, electronic payments, and the distribution and processing of currency and coin.

The Federal Reserve Bank of Cleveland, including its branch offices in Cincinnati and Pittsburgh, serves the Fourth Federal Reserve District, which includes Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia.

Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland is one of 12 regional Reserve Banks that along with the Board of Governors in Washington DC comprise the Federal Reserve System. Part of the US central bank, the Cleveland Fed participates in the formulation of our nation’s monetary policy, supervises banking organizations, provides payment and other services to financial institutions and to the US Treasury, and performs many activities that support Federal Reserve operations System-wide. In addition, the Bank supports the well-being of communities across the Fourth Federal Reserve District through a wide array of research, outreach, and educational activities.

The Cleveland Fed, with branches in Cincinnati and Pittsburgh, serves an area that comprises Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia.

Media contact

Doug Campbell, doug.campbell@clev.frb.org, 513.218.1892