Understanding Local Economic Development

This book offers insights into the process and the practice of local economic development. Bridging the gap between theory and practice it demonstrates the relevance of theory to inform local strategic planning in the context of widespread disparities in regional economic performance. 
The book summarizes the core theories of economic development, applies each of these to professional practice, and provides detailed commentary on them. This updated second edition includes more recent contributions - regional innovation, agglomeration and dynamic theories – and presents the major ideas that inform economic development strategic planning, particularly in the United States and Canada. The text offers theoretical insights that help explain why some regions thrive while others languish and why metropolitan economies often rise and fall over time. Without theory, economic developers can only do what is politically feasible. This text, however, provides them with a logical tool for thinking about development and establishing an independent basis from which to build the local consensus needed for evidence-based action undertaken in the public interest. 
Offering valuable perspectives on both the process and the practice of local and regional economic development, this book will be useful for both current and future economic developers to think more profoundly and confidently about their local economy.

Malizia, Emil

Renski, Henry

Drucker, Joshua

Feser, Edward J.

Reference

Routledge

Economic development encompasses a wide range of concerns. As practiced at the local level it is a technique-dominated field concerned with increasing jobs and the tax base, primarily by marketing the location to prospective and existing employers. The political culture in which most developers operate emphasizes short-term solutions. As such, the practice of economic development is strikingly similar across the United States as economic developers try to keep up with the competition. This book gives current and future economic developers and community leaders in the United States knowledge they can use to understand both the process and the practice of local economic development. The work presents an historical sketch of US development practice, as well as the fundamental definitions and concepts needed to understand economic development theory. It also discusses key theories of the local economic growth and development process. While most existing books on economic development theory are concerned with less-developed countries; the authors focus on the US from a practitioner’s perspective. The book is organized to serve both as a text for in-service training or university courses and as a reference.

Business & Money

Economics

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