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about economic development
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spacerglossary directoryspacerabout an official definition of economic development
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A collection of various definitions is maintained on this page so that you can see all of the operative words for economic development together in one place. The Enterprise and Economic Development Library maintain an extraction of the collection's keywords and phrases.
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What is the definition of ...

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economic development:

... refers to the deliberate effort to improve the economy of a specified geographic area, which can be as large as an entire nation-state or as limited as a city neighborhood. Stating that it is a process, the source points out that it's a challenge put measures in place that would indicate whether or to what degree improvement take place in a location. The source notes that economic development may be an activity specifically undertaken but that ... the same intended consequences might also take place spontaneously, without any deliberate efforts to achieve them ... and attributes the existence of the practice of economic development to the observation that what locations desire don't often spontaneously appear.

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source: Centre for Community Enterprise / www.ccednet-rcdec.ca
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economic development:

... the thrifty use of resources, materials, wealth and labor (on behalf of a location).

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economic development:

... Economic development refers to a sustainable increase in living standards. It implies increased per capita income, better education and health as well as environmental protection (source page). Note that the blog providing this definition of economic development is identified with a name that appears to relate it to Joseph A. Schumpeter (1883-1950)dashsee the answer to the question of who coined the expression, economic development.

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source: Peter’s Business and Economy Issues / http://schumpeter2006.org
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economic development:

... any effort or undertaking which aids in the growth of the economydashmore.
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source: Nonprofit Good Practice Guide (glossary) / www.npgoodpractice.org
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economic development:

... the process of creating wealth through the mobilization of human, financial, capital, physical and natural resources to generate marketable goods and services. The (practitioner's) role is to influence the process for the benefit of the community through expanding job opportunities and the tax basedashAEDC/1984. After publishing the definition the American Economic Development Council later reaffirmed it, adding that practitioners are essentially involved in a specialized form of marketingdashresource file.
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economic development:

... (is about) jobs, income, and community prosperitydashis a continuing challenge to modern societydashmore of the quote from the aims and scope of its source.

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source: Economic Development Quarterly / about the publication
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economic development:

... is fundamentally about enhancing the factors of productive capacitydashland, labor, capital, and technology - of a national, state or local economydashmore.
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source: EDA/Economic Development Administration/ USA / www.eda.gov (resources)
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economic development:

... can be "described" by objectives of which the most common are the ... creation of jobs and wealth, and the improvement of quality of life. Economic development can also be described as a process that influences growth and restructuring of an economy to enhance the economic well being of a community.
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source: What is Economic Development? answered by IEDC / www.iedconline.org
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economic development:

... efforts to increase employment opportunities by getting new businesses to relocate in a community or existing businesses to expand. It differs from job development in the sense that it seeks to in-crease the pool of available work rather than soliciting employers to post openings for jobs that already exist.

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source: Texas Workforce Commission / more about the quote
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economic development:

... on the international level has been defined as a (growth process) ... whereby countries raise incomes per capita and become industrialized ...
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source: John Wiley & Sons Australia, Ltd. / source webpage no longer available
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economic development:

... (is a) process of raising the level of prosperity and material living in a society through increasing the productivity and efficiency of its economy. In less industrialized regions, this process is believed to be achieved by an increase in industrial production and a relative decline in the importance of agricultural production.
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source: The Politics of International Economic Relations / www.indiana.edu
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economic development:

... (is) actions taken to improve the ability of people to more productively use capital and natural and human resources in the production of goods and servicesdashmore.

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source: Glossary of Social Studies Terms and Vocabulary / more about the quote
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economic development:

... (is) the process of promoting, initiating, supporting, and/or facilitating the creation of wealth and employment opportunities.
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source: Steve Elledge, Wyoming Business Council / more Elledge thoughts
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economic development:

... (is) a rise in real income per person; usually associated with new technology that increases productivity or resources. This definition of economic development is one of several found in a glossary that was one time available online, but no more.
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source: Material Efficiency and the work of the Wuppertal Institute / by Holger Wallbaum
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economic development:

... (is) the stabilization, retention or expansion of the economic base and quality employment opportunities.
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source: Guide to Community Planning in Wisconsin / more about the quote
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economic development:

... ( is increasing the flow) of capital through the community and reducing its leakage.
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source: Economic Development Marketing Letter (2004) / Blane Canada Ltd.
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economic development:

... is the development of economic wealth of countries or regions for the well-being of their inhabitants. From a policy perspective, economic development can be defined as efforts that seek to improve the economic well-being and quality of life for a community by creating and/or retaining jobs and supporting or growing incomes and the tax base. (more from Wikipedia)

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economic development:

... The adopted AEDC definition was "the process of creating wealth through the mobilization of human, financial, capital, physical, and natural resources to generate marketable goods and services.” Other definitions include: The purposeful intervention into an economy to improve economic well-being; The process that influences growth and restructuring of an economy to enhance the economic well being of a community; The creation of jobs and wealth, and the improvement of quality of life.
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source: Greg Last, Southlake, TX, Summary of Economic Development Terms
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economic development:

...the growth experience within a development economy which is brought about by the startup, expansion or productivity improvement of enterprises; therefore, the term enterprise and economic development is applicable to the .network mission statement.
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source: About Economic Development, page 1
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.network introduction [directory]
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http://www.eda.gov/Research/EcoDev.xml#Defining was where the original USEDA definition of economic development was found. At last check the URL address string produced a file-not-found message. Apparently the replacement definition quotes Harvard Professor Michael E. Porter who in The Competitive Advantage of Nations, 1990, stated that (economic development is a) ... long-term process of building a number of interdependent microeconomic capabilities and incentives to support more advanced forms of competition ... EDA source

Search the Web for ... Competitive Advantage of Nations and other keywords.

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Elledge points out in an online resource paper that the quote is his favorite definition of economic development. He also indicates that a traditional format for defining economic development would likely include a reference to involvement with ... some sort of a lending program. Elledge's paper also mentions political involvement by pointing out that ... politicians support “it”dashsee comments under the last acknowledgement on this page.

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URL address string www.johnwiley.com.au/highered/eco2e/macro/lect-res/glossary.html is no longer functional; however, two words in the quote, industrialization and countries, are worth dwelling on and offering related links. For example, industrialization is a prompt for pointing out that Industrial development is a term used in many locations around the world and is often interchangeable with economic development. Also, it may be worthwhile to point out that The Network is as much a global industrial development directory as it is an economic development directory. The first thing you see when you enter the Area Development section of Economic Development.net is a list of countries.

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Several quotes from emails sent to The Network by Blane Canada Ltd are published in its websites. Links were established to the consulting firm's newsletter archive at the time the quotes were first published but they are now seemingly dead ends, i.e., the links are broken. Look in the Global Registry of Contacts under Wheaton, IL for the consultant's listing.

One Blane Canada email answered the question of what economic development by stating that it is a process of increasing the flow of capital through a community while making an effort to keep it there (the actual quote). The rest of the answer to the question stated ... Other definitions are only pretenders to the crown. It then went on to pose the question: ... What have you done for your community today?dashThe Network has an answer.
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Economic development practitioners don't create the communities in which people are able to live, work, and share things in common. They make communities economically viable and sustainable by effecting opportunities for entrepreneurship and job creation, by helping to increase local wealth and distribute imported capital. In other words, practitioners make the processes of enterprise and economic development work better in the places they represent.
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Nancy Blane of Wheaton, IL once paraphrased the following BASF promotional phrase: We don't make a lot of the products you buy. We make a lot of the products you buy better! Her paraphrase envisioned communities made better through attraction, retention, expansion and investment. Taking a cue from Blane we(who we are) came up with the above paragraph to help explain what area and local development representatives do. Our explanation is just one way to define economic developer.

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The quote is the definition of economic development as an element of a planning process based on the Guide to Community Planning in Wisconsin by Brian W. Ohm.

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Additional definitions of economic development available in the resource paper, Material Efficiency and the work of the Wuppertal Institute, by Holger Wallbaum: (1) Economic development is the ... qualitative improvement of the economic subsystem of society that is concerned with the production, consumption and distribution of goods and services to meet human needs; (2) ... process of improving the quality of human life through increasing per capita income, reducing poverty, and enhancing individual economic opportunities. It is also sometimes defined to include better education, improved health and nutrition, conservation of natural resources, a cleaner environment, and a richer cultural life; and, (3) ... Organized efforts to attract new business into an area or to encourage existing business to expand.

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Glossary: http://www.indiana.edu/~ipe/glossry.html

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Glossary: www.whitehall.k12.mi.us/curriculum/socialstudies/glossaryofterms.htm.

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Quote is from a glossary which defines job development as well as economic development: www.cdr.state.tx.us/Researchers/Automated/FieldGuide/glossary.html

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Glossary E-page: www.npgoodpractice.org/Glossary/Default.aspx?index=E

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Acknowledgement: Don Iannone of Cleveland, Ohio at one time published several online answers to the question of how to define economic development. There are (1), (2), (3) definitions on this page also found in his blog. Iannone interviewed an economic development marketing guru and published the observation that the practice of economic development, at its best, requires political savviness. Perhaps there ought to be more information available about politics and economic development for sophomoric practitioners. If interested, see the list of keyword search suggestions in the .network library.

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Page 2 in a series. CLICK HERE.for a directory of About Economic Development.
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The process was industrial development before it was economic development. Page 5 in the series About Economic Development covers industrial development. The Enterprise and Economic Development Library has a section dedicated to the process.

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about us / copyrights © and all rights reserved / 11/13/2009