Modeling industrial location decisions in U.S. counties

gional Economic Information System (REIS) database published by the Bu-
reau of Economic Analysis (Table CA30 and Table CA05). The number of
establishments at the 2-digit SIC level was obtained from the U.S. Bureau
of Census, County Business Patterns. The source for per capita property
tax is also the U.S. Bureau of Census, Census of Government. Land area is
from the Census Geographic Coding Scheme (GICS).

¹⁹The inclusion of time-sectorial dummies in the Poisson model imposes
the restriction that,

J

nkt =    exp(αkt + θ⁰yjt + β⁰zjkt),

j=1

where nk_t is the total number of investments in sector k at time t. Given
that njk_t = pjk_t.nk_t we may compute the marginal effects in terms of their
impact on nj_kt or pj_kt . Our explanatory variables are all in logarithmic
form what means that the estimated coefficients can be directly interpreted
as elasticities if we measure the impact on nj_kt. To obtain the elasticities in
terms of pj_kt one should multiply the estimated coefficients by (1 - pj_kt).

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