Table 3 DID regression results: Impact of monument designations on establishment and job growth rates in ZCTAs.

Treated sample: ZCTAs within 25 km of monument, measured border to border. Control sample: ZCTAs bordering treatment ZCTAs. Births include new establishments and establishments that move from another ZCTA; deaths include establishments that cease operations and those that move to another ZCTA. Regressions are weighted by 1995 number of establishments or jobs and include state by year fixed effects and ZCTA fixed effects. Robust standard errors, two-way clustered at the state and year level, in parentheses. *P < 0.10; **P < 0.05; ***P < 0.01.

EstablishmentsJobs
Net growth0.0092***
(0.0013)
−0.0050
(0.0172)
Births−0.0006
(0.0030)
0.0099
(0.0063)
Deaths−0.0098**
(0.0038)
0.0100
(0.0163)
Expansions0.0028*
(0.0012)
Contractions0.0076
(0.0044)
Net extensive−0.0001
(0.0124)
Net intensive−0.0048
(0.0056)
Job creation0.0127*
(0.0061)
Job destruction0.0176
(0.0213)
No. of observations10,45610,456
No. of zip codes435435