State and local officials have long sought to diversify the mix of industries in their regions, hoping to reduce short-term volatil­ity in their communities’ economic growth rates and poten­tially boost overall long-term growth. ; While theory does suggest that industrial diversity can...

Local governments, which rely heavily on property taxes and fund transfers from state governments, continue to struggle with slowing revenues - a situation that is likely to persist over the next few years. As new property tax assessments reflect declines in house prices, local property tax...