Preserving rural economies is key to national economic growth.

Last week, the Department hosted several members of the Organization for Economic Cooperation and Development (OECD) at USDA headquarters in Washington to highlight the findings of a new report, Promoting Growth in All Regions, that says investments in rural places are vital for aggregate national economic growth and in many cases, such investments have found that rural regions have, on average, enjoyed faster growth than urban regions.

For an OECD policy brief that outlines the report’s findings visit this link.

In this time of economic challenges, the United States and other members of OECD cannot leave significant growth opportunities in rural regions untapped. The authors of the OECD report are in Washington this month to launch the report and urge policy makers not to overlook this reality when crafting economic policy for the country.

President Obama and Agriculture Secretary Vilsack have long believed that “strong rural communities are key to a stronger America.” This study provides rigorous research and explanation for why regional rural economies are so important to a nation’s overall economic health. While this report is certainly not the first study to examine the importance of strengthening rural regions, it is notable for its comprehensive, longitudinal, and cross-national analysis.

The report’s authors point out that overlooking the economies of these regions may constitute a missed opportunity for significant economic growth. Missed growth opportunities are also missed revenue opportunities for governments facing budgetary shortfalls and rising deficits. Policy experts must develop comprehensive policy packages that integrate investments in infrastructure, human capital and the labor force to improve rural economies. Additionally, regions must identify their local assets and build a development plan based on those assets.