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Industrial Corridor
An industrial corridor is a package of infrastructure spending allocated to a specific geographical area, with the intent to stimulate industrial development. An industrial corridor aims to create an area with a cluster of manufacturing or another industry. Such corridors are often created in areas that have preexisting infrastructure, such as ports, highways and railroads. These modalities are arranged such that an "arterial" modality, such as a highway or railroad, receives "feeder" roads or railways. Concerns when creating corridors include correctly assessing demand and viability, transport options for goods and workers, land values, and economic incentives for companies. Infrastructure corridors generally deliver services such as communications, transport, energy, water, waste management. The development of infrastructure corridors is often a link between rural areas and urban growth. In the 21st century, industrial corridors are often viewed as opportunities for jobs and eco ...
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Infrastructure
Infrastructure is the set of facilities and systems that serve a country, city, or other area, and encompasses the services and facilities necessary for its economy, households and firms to function. Infrastructure is composed of public and private physical structures such as roads, railways, bridges, tunnels, water supply, sewerage, sewers, electrical grids, and telecommunications (including Internet access, Internet connectivity and Broadband, broadband access). In general, infrastructure has been defined as "the physical components of interrelated systems providing Commodity, commodities and services essential to enable, sustain, or enhance societal quality of life, living conditions" and maintain the surrounding environment. Especially in light of the massive societal transformations needed to Climate change mitigation, mitigate and Climate change adaptation, adapt to climate change, contemporary infrastructure conversations frequently focus on sustainable development and gre ...
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Economic Stimulus
In economics, stimulus refers to attempts to use monetary policy or fiscal policy (or stabilization policy in general) to stimulate the economy. Stimulus can also refer to monetary policies such as lowering interest rates and quantitative easing. A stimulus is sometimes colloquially referred to as "priming the pump" or "pump priming". Concept During a recession, production and employment are far below their sustainable potential due to lack of demand. It is hoped that increasing demand will stimulate growth and that any adverse side effects from stimulus will be mild. Fiscal stimulus refers to increasing government consumption or transfers or lowering taxes, increasing the rate of growth of public debt. Supporters of Keynesian economics assume the stimulus will cause sufficient economic growth to fill that gap partially or completely via the multiplier effect. Monetary stimulus refers to lowering interest rates, quantitative easing, or other ways of increasing the amount of ...
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Industrial Sector
In macroeconomics, the secondary sector of the economy is an economic sector in the three-sector theory that describes the role of manufacturing. It encompasses industries that produce a finished, usable product or are involved in construction. This sector generally takes the output of the primary sector (i.e. raw materials) and creates finished goods suitable for sale to domestic businesses or consumers and for export (via distribution through the tertiary sector). Many of these industries consume large quantities of energy, require factories and use machinery; they are often classified as light or heavy based on such quantities. This also produces waste materials and waste heat that may cause environmental problems or pollution (see negative externalities). Examples include textile production, car manufacturing, and handicraft. Manufacturing is an important activity in promoting economic growth and development. Nations that export manufactured products tend to generate h ...
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Manufacturing
Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of secondary sector of the economy. The term may refer to a range of human activity, from handicraft to high-tech, but it is most commonly applied to industrial design, in which raw materials from the primary sector are transformed into finished goods on a large scale. Such goods may be sold to other manufacturers for the production of other more complex products (such as aircraft, household appliances, furniture, sports equipment or automobiles), or distributed via the tertiary industry to end users and consumers (usually through wholesalers, who in turn sell to retailers, who then sell them to individual customers). Manufacturing engineering is the field of engineering that designs and optimizes the manufacturing process, or the steps through which raw materials are transformed into a final p ...
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Port
A port is a maritime facility comprising one or more wharves or loading areas, where ships load and discharge cargo and passengers. Although usually situated on a sea coast or estuary, ports can also be found far inland, such as Hamburg, Manchester and Duluth; these access the sea via rivers or canals. Because of their roles as ports of entry for immigrants as well as soldiers in wartime, many port cities have experienced dramatic multi-ethnic and multicultural changes throughout their histories. Ports are extremely important to the global economy; 70% of global merchandise trade by value passes through a port. For this reason, ports are also often densely populated settlements that provide the labor for processing and handling goods and related services for the ports. Today by far the greatest growth in port development is in Asia, the continent with some of the world's largest and busiest ports, such as Singapore and the Chinese ports of Shanghai and Ningbo-Zhou ...
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Highway
A highway is any public or private road or other public way on land. It is used for major roads, but also includes other public roads and public tracks. In some areas of the United States, it is used as an equivalent term to controlled-access highway, or a translation for ''autobahn'', '' autoroute'', etc. According to Merriam Webster, the use of the term predates the 12th century. According to Etymonline, "high" is in the sense of "main". In North American and Australian English, major roads such as controlled-access highways or arterial roads are often state highways (Canada: provincial highways). Other roads may be designated "county highways" in the US and Ontario. These classifications refer to the level of government (state, provincial, county) that maintains the roadway. In British English, "highway" is primarily a legal term. Everyday use normally implies roads, while the legal use covers any route or path with a public right of access, including footpaths etc. Th ...
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Railroad
Rail transport (also known as train transport) is a means of transport that transfers passengers and goods on wheeled vehicles running on rails, which are incorporated in tracks. In contrast to road transport, where the vehicles run on a prepared flat surface, rail vehicles (rolling stock) are directionally guided by the tracks on which they run. Tracks usually consist of steel rails, installed on sleepers (ties) set in ballast, on which the rolling stock, usually fitted with metal wheels, moves. Other variations are also possible, such as "slab track", in which the rails are fastened to a concrete foundation resting on a prepared subsurface. Rolling stock in a rail transport system generally encounters lower frictional resistance than rubber-tyred road vehicles, so passenger and freight cars (carriages and wagons) can be coupled into longer trains. The operation is carried out by a railway company, providing transport between train stations or freight customer facili ...
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Artery (road)
An artery (plural arteries) () is a blood vessel in humans and most animals that takes blood away from the heart to one or more parts of the body (tissues, lungs, brain etc.). Most arteries carry oxygenated blood; the two exceptions are the pulmonary and the umbilical arteries, which carry deoxygenated blood to the organs that oxygenate it (lungs and placenta, respectively). The effective arterial blood volume is that extracellular fluid which fills the arterial system. The arteries are part of the circulatory system, that is responsible for the delivery of oxygen and nutrients to all cells, as well as the removal of carbon dioxide and waste products, the maintenance of optimum blood pH, and the circulation of proteins and cells of the immune system. Arteries contrast with veins, which carry blood back towards the heart. Structure The anatomy of arteries can be separated into gross anatomy, at the macroscopic level, and microanatomy, which must be studied with a microscope ...
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Economic Incentive
In general, incentives are anything that persuade a person to alter their behaviour. It is emphasised that incentives matter by the basic law of economists and the laws of behaviour, which state that higher incentives amount to greater levels of effort and therefore, higher levels of performance. Divisions Incentives can be broken down into two categories; intrinsic incentives and extrinsic incentives. The motivation of people's behaviour comes from within. In activities, they are often motivated by the task itself or the internal reward rather than the external reward. There are many internal rewards, for example, participating in activities can satisfy people's sense of achievement and bring them positive emotions. An intrinsic incentive is when a person is motivated to act in a certain way for their own personal satisfaction. This means that when a person is intrinsically incentivised, they perform a certain task to please themselves and are not seeking any external reward, nor ...
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Chicago
(''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = Country , subdivision_name = United States , subdivision_type1 = State , subdivision_type2 = Counties , subdivision_name1 = Illinois , subdivision_name2 = Cook and DuPage , established_title = Settled , established_date = , established_title2 = Incorporated (city) , established_date2 = , founder = Jean Baptiste Point du Sable , government_type = Mayor–council , governing_body = Chicago City Council , leader_title = Mayor , leader_name = Lori Lightfoot ( D) , leader_title1 = City Clerk , leader_name1 = Anna Valencia ( D) , unit_pref = Imperial , area_footnotes = , area_tot ...
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Economic Corridor
Economic corridors are integrated networks of infrastructure within a geographical area designed to stimulate economic development. They connect different economic agents in particular geographic area. Corridors may be developed within a country or between countries. Corridors exist in Asia, Africa, and other areas. Economic corridors often feature integrated infrastructure, such as highways, railroads and ports, and may link cities or countries. Corridors may be created to link manufacturing hubs, areas with high supply and demand, and manufacturers of value-added goods. When implemented, economic corridors are often one of a package of different measures including infrastructure development, visa and transport agreements, and standardisation. Consideration of social needs, such as housing, is often considered. The Asian Development Bank coined the term in 1998. In practice the term "Economic Corridors" has most often been used to connote road highways (e.g. East-West Economic ...
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Industrial Park
An industrial park (also known as industrial estate, trading estate) is an area zoned and planned for the purpose of industrial development. An industrial park can be thought of as a more "heavyweight" version of a business park or office park, which has offices and light industry, rather than heavy industry. Industrial parks are notable for being relatively simple to build; they often feature speedily erected single-space steel sheds, occasionally in bright colours. Benefits Industrial parks are usually located on the edges of, or outside, the main residential area of a city, and are normally provided with good transportation access, including road and rail. One such example is the large number of industrial estates located along the River Thames in the Thames Gateway area of London. Industrial parks are usually located close to transport facilities, especially where more than one transport modes coincide, including highways, railroads, airports and ports. Another commo ...
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