Abstract:
Rustbelt cities all across America have been left reeling after what is now being referred to by many as "The Great Recession". Before the recession even began, though, the manufacturing industry had been moving towards automation and outsourcing, and many former industrial workers were left without jobs. Their respective communities are feeling the effects of that unemployment, and it shows. Economies of these small towns have moved away from being heavily industrialized and have become more geared towards the service industry. However, the residents who were once reliant on the manufacturing industry for employment are left without marketable skills, and do not know how to respond to the changing job market. The once bustling downtown areas of these communities are struggling, and becoming riddled with empty store fronts and for rent signs, further promoting the feeling of poverty and failure. How do the economies of these small rustbelt towns rebound from the various factors which have put their economies in this position? Could the strategic revitalization of the downtown, taken along with other factors, make a significant impact on the economic development and future ofa typical rustbelt city? Is the arts district approach feasible? If it is feasible, to what degree does it result in a creative class economy? This thesis, through extensive research on the subject of economic development and with an emphasis on Richard Florida's theory of the creative class, uses Michigan City, Indiana as a case study to find an answer to these questions.
