New Study: Funding Public Services is the Best Route to Prosperity Talking Union The New England states, can no longer afford to spend scarce resources on tax credits and other business giveaways. Instead, the region needs to focus its economic development efforts on rebuilding neglected infrastructure and improving education for people at all levels, from pre-school youngsters to older adult workers. Those are the conclusions of a new study released today by economist Jeffrey Thompson of the Political Economy Research Institute (PERI) at the University of Massachusetts, Amherst. Thompson’s paper is based on his extensive analysis of research on what works and doesn’t work to create jobs and strengthen state and regional economies. It suggests a better approach to economic development, one that the New England states should pursue as they slowly dig out from the Great Recession that began in late 2007.