Community Economic Development

What is Community Economic Development ? (CED)

Community Economic Development is the economic, social and environmental development of the community BY the community.

CED priorities are community-based, pursued through planning initiatives by community organizations that are developed in response to the priorities and values brought forth by the community members. CED happens when communities determine their own solutions to economic, social, and environmental issues/opportunities, and act on them.

CED Objectives :

Revitalize, renew, stabalize, and/or improve local economy.

CED Objectives:

Improve the quality of life and services for its residents
Create or increase employment
Retain and grow businesses
Increase locally owned businesses
Increase investment into the community
Generate wealth in the community
Develop local business links
Improve the physical & social environment of the community

Data is collected to make informed decisions and develop a strategic plan. A strategic plan helps us know what are the top community priorities, where we can invest our energy, and take action once we have a common goal or vision.

CED Strategies:

Business development
1. - identifying gaps
  - attracting investment
  - business assistance/advice
  - buy-local campaigns
Sustainable development
1. - development and protection of natural resources
Community revitalisation
1. - improving appearance
  - housing
Population development
1. - immigration
  - location incentives
  - public services, schools & daycares
Workforce development
1. - support for key individuals or industries
  - education programs
  - employment programs
Tourism/culture
1. - B & B's, recreation centres, parks, community festivals
Other/specific sectors
1. - technology/manufacturing...
Regionalization
1. - combining neighbouring communities for greater access to services
  - having common goals and priorities

Who is involved in CED strategies:

Local government (LUD, RM)
1. - budget & grants
  - land use planning
  - policies or by-laws
  - tax incentives
  - transportation infrastructure
Provincial & federal gov
1. - health, natural resources
  - education
  - land management
  - environmental incentives
  - programs for business owners
Economic Development Professionals
1. - Economic Development Officer, CDC, Chamber of commerce
  - research, analysis, planning, organizing, business administration, public finance, networking, advocating priorities, connecting business links, identifying opportunities, monitoring performance of strategic plans.
Community leaders and local champions
1. - committee members, volunteers, movers and shakers of the community, people often without official titles.

CED Strategies depend on many things including looking at the results to date and the capacity of the individuals in the community to carry out CED activities.