Economy of Kazakhstan ECN3189 L, Mussurov Altay

strategic paradigm of economic development that focuses on retaining firms already in the community and on creating new businesses.

a loan secured by a second mortgage on a property, sometimes used to refer to any financing techniques other than equity and first-mortgage debt.

equity money supplied to help a company get off the ground. The money is almost always supplied by an entrepreneur and his/her family, friends, and relatives. Used to help attract (leverage) other investment.

the efficient use of all available assets. According to the American Planning Association, smart growth involves efficient land use; full use of urban services; mixed use; mass transportation options; and detailed, human-scaled design.

in economic development, linkages between and among business development service providers and the companies they assist; these linkages are both internal, within a given-service provider organization, and external, between an organization (and its clients) and external service providers and businesses.

costs of a project that benefit a specific group of properties may be assessed to those individuals and accounted for in the special assessment fund.

company in the first stage of the evolution of a business.

funds that help nascent enterprises acquire space, equipment, supplies, and other inputs needed to launch a business.

explanation of economic development that focuses on reducing costs of production to lure capital to a new location; typical strategies include tax abatements, reductions, and exemptions; guaranteed and direct loans; and reduced regulation.

development that does not destroy or eventually deplete a location’s natural resources. Sustainable development helps ensure a better, healthier living environment and contributes to an area’s quality of life, one of the main goals of economic development.