the monetary worth of a property for the purposes of taxation. Total assessed valuation denotes the sum of the monetary worth of all taxable properties within a jurisdiction.

economic connections among companies; backward linkages involve the purchase of inputs by a given firm from another, and forward linkages involve the sale of the given firm’s outputs to another company.

also known as “export” or “primary” industries, base industries sell or export their products and services outside the community and bring new dollars into the community, increasing the total dollars that circulate within the community and that are spent on non-base industries.

a certificate of debt issued by a government or corporation guaranteeing payment of the original investment plus interest by a specified future date.

environment of a given community that is relevant to the operation of a business; usually includes tax rates, attitudes of government toward business, and availability.

economic development strategy that focuses on encouraging the formation of new companies that are locally based and will remain in the community and grow.

entity that nurtures and supports young companies until they become viable, providing them with affordable space, technical and management support, equity and long-term debt financing, and employment. The three basic objectives in creating an incubator are (1) to spur technology-based development; (2) to diversify the local economy; and (3) to assist in community revitalization.

developing the ability of a community-based neighborhood organization to effectively design economic development strategies through technical assistance, networks, conferences, and workshops.

the central business district of a locality. Usually this is an area with the highest concentration of businesses, including financial institutions, shops, offices, theaters, and restaurants.

U.S. Small Business Administration program that encourages highly active and expert lenders to provide funds to borrowers.