Great Rural Economy Study

According to a study prepared by SRI International in Washington, D.C., rural America is in a unique position to rediscover its economic value. Working in several rural places across the country, I agree. Yet, I also see enormous challenges ahead, especially for those rural places lacking strong economic development assets.

The study suggests a renewed, stronger focus on assets and opportunities for rural America to reclaim its prosperity. The study also identifies policy and program steps that can be taken to enable economic growth in rural areas. These include consolidating multiple programs, avoiding duplication and making them easier to find and use; greater flexibility in terms of assistance and timeframes, and co-investment by rural communities, businesses, and institutions. Many rural communities, like those in urban America, are addicted to government grant programs. This is also true for Indian tribes in my experience.

On the whole, rural America has several assets on which to build. The SRI study has these include: steadily improving education achievement, low cost of doing business, high quality of life, and increasingly high levels of entrepreneurship and small business development. Liabilities faced by rural areas include declining population, difficulty retaining educated residents, and lack of employment opportunities, particularly in growing economic sectors.