But he argued that the zoning change could be written to exclude unwanted developments, for example, by allowing only residential buildings on relatively small lots.
The study found that analysts provided the most added value in forecasts on technology companies, whose financial statements were the least informative about new product developments, for example.
Changes that have since been introduced to address some of the issues include a closer monitoring of short-term developments, for example by taking more notice of early signals from surveys and other anecdotal evidence.
There are, however, exciting developments, for example, a concentrated solar power plant that uses mirrors to boil water and a series of super-thin solar panels, some even printed on a roll like newspapers.
Fulton Homes' developments, for example, were so popular last year that it was able to raise prices on its new homes by $1,000 to $10,000 almost every week.
But while the stereotype may be a private, high-security fortress, academics have also identified other sub-types: some developments, for example, sell a "lifestyle", like country clubs and retirement villages; "prestige" communities, meanwhile, trade on status and a sense of luxury and exclusivity.
Take new product development, for example.
"They have great ideas but are lacking the infrastructure to do software development, for example.
Those assets included carry forwards of previous losses and tax credits, for research and development, for example.
"The tourism and hospitality sector is a key driver for our economic development, for example," says Biruta.
A half-acre of land in the secluded Peter Bay development, for example, is currently listed for $2.3 million.
