Project Experience

Separate overall economic development plans (OEDP) for  each of three political jurisdictions within Micronesia were prepared.  The development of these plans involved an examination of regional economic relationships, the structure of the local economy, and government efforts to capitalize and expand private sector investment into the local economy.

Given the lack of primary production with each of these economies, particular attention was directed toward agriculture, manufacturing, fisheries and mariculture, and the visitor industry.  Economic development trends, opportunities and constraints were evaluated in each of these economic sectors.  Wholesale and retail trade trends and constraints were also analyzed because of this sector’s adverse impact upon each of three local economies.  In view of rapidly transitioning subsistence and cash economies, forecasts of future population and labor force participation were also prepared in an attempt to quantify future employment needs in the cash economy.

Priorities for short-term economic development activities were developed by local economic development committees that participated in an evaluation of specific economic development projects.  A significant portion of the project was devoted to the development of a matrix evaluation method for determining priorities and the integration of this process with existing methods of local decision-making.  Local planners within each jurisdiction were trained concerning how to continue and modify the newly-established priority process with local economic development committees.