The organization and interrelations of economic development organizations in Buffalo, New York: A case study
Casullo, Erin Michele
MetadataShow full item record
Economic development has become one of the most important fields within planning as the transition into the new economy increases the necessity for competitive advantage. However, economic development policy in cities and regions is typically fragmented among many organizations. Organizations have realized the benefit of joining forces in order to maximize economic development efforts. It is important to understand how such collaboration works. Using the example of economic development organizations within the City of Buffalo this study documents multiple incidences of collaboration. The empirical work also shows the mechanisms through which collaboration happens. Some of these mechanisms are: direct organizational control, shared board of directors, combined or shared plans and strategies, and joint projects. Although empirical and practical, this study parallels ideas that go collectively under the "New Institutionalism," the body of knowledge that uses a transaction cost perspective to justify collaboration. The empirical work with Buffalo organizations validates this by showing that organizations collaborate to lower transaction costs. The study finds that reduction in risk and increase in total organizational benefits are some of the advantages of collaboration. This thesis ends by recommending that educational programs and economic development practitioners become more aware of the opportunities for interorganizational collaboration.