Can We Build Better Place-Based Policies? Theory and Evidence

Amid renewed policy interest, the academic literature on place-based programs has expanded dramatically in recent years. In this essay, the authors review recent theoretical and empirical work to assess when and why place-based job creation policies succeed or fail. Drawing on theory, the authors describe key dimensions on which place-based programs vary and discuss evidence on the consequences of different design choices. Several lessons are discussed for the next generation of place-based programs.