Managing Local Economic Development: Cases in Decision Making: Renaissance and Reality: Redevelopment of the Homestead Works Site poses the ultimate questions that must be asked of any proposed economic development project: Will the revenues from the proposed project exceed the costs? Will the benefits from the project be greater than what must be invested in, or forgone because of, the project? Only if positive answers-based on solid, empirical evidence-can be given to both questions can any economic development project be justified.