Building Enterprising Communities: Community Economic Development
Going Local – Economic Solutions from the Inside Out
Economic development is often discussed in terms of stimulus packages, tax incentives, and cash injections. These methods rarely yield long-term stability and often result in temporary growth, large industry, or outside investment. Community economic development focuses on the needs of the whole community and uses internal resources to create lasting results.
Community economic development (CED) centres on local solutions to local problems, with communities using their own resources, skills, and abilities as the starting point for growth. CED involves the entire community in creating a long-term plan that includes environmental, economic, and social outcomes. It promotes local ownership and local capacity building so the benefits of economic growth stay in the community.
Images courtesy Marie Prebushewski