What is the Economic Development Capacity Index?
The Economic Development Capacity Index (EDCI), developed through a partnership between the Economic Development Administration (EDA) and Argonne National Laboratory (Argonne), uses publicly available data to assess critical elements that contribute to a county’s overall economic development capacity. Economic development capacity is comprised of the knowledge, skills, assets, and resources that foster prosperity, innovation, entrepreneurship, and high quality of life in a community.
What does the EDCI Measure?
The EDCI brings together 53 indicators across five major capacity areas:
- Human Capital
- Industry Composition
- Institutions and Partnerships
Specifically, the EDCI provides county-level quantitative and qualitative scores by capacity area, as well as the national percentile for each individual indicator. Argonne and EDA identified each of these capacity areas and the associated indicators through engagement with economic development subject matter experts, a review of economic development literature, and an evaluation of publicly available data.