This paper presents a model of land prices for the Valdosta-Lowndes County Industrial Authority, with the goal to recommend the parcels it should purchase to meet 2030 industrial employment projections. This model is coupled with a separate multi-criteria analysis by the South Georgia Regional Development Center that uses geographic information system data, which allows us to determine parcel development suitability for industrial purposes. Using these two different data sources with no overlapping variables, the hedonic regression model and parcel suitability study are used jointly to predict the similar parcels should be purchased and developed by the Industrial Authority.
Author: Clifford A. Lipscomb
Originally published in the Southern Business & Economic Journal, Vol. 31, No. 1&2 (2008).