Evaluation Framework and Analysis of Economic Transformation Initiatives

The New York City Economic Development Corporation (NYCEDC) is at the cutting edge of urban economic development policy and program development. At the request of the NYCEDC, the Capstone team conducted an in-depth review of three types of programming – business courses, fellowship programs, and new venture competitions. The research included interviews with NYCEDC staff and project partners, analysis of contracts and other program materials, and research into peer programs and evaluation systems. The final report included: (1) a best practices comparison of 27 peer economic development programs and summaries highlighting key structural components; (2) a proposed framework to standardize program evaluation across programs with suggested indicators to use in measuring design, performance and impact; and (3) a playbook synthesizing our research which identified key issues and recommend strategies to address them during program implementation.