The Enterprise and Economic Development Glossary a resource of the .network library

economic area:

... an economy defined within the context of a geography. For example, the EEA (European Economic Area) is a geography made up of a number of countries as member states of the European Free Trade Association (EFTA) and the European Union (EU). Wikipedia offers more information under European integration—CLICK HERE for the specific point in the article.

Using the EEA information as a guide indicates that any area defined by its economy may also be singled out as a site selection area. For example, an enterprise may determine that an economic area has potential as a market and initiate a search for a location for building a manufacturing and distribution facility. You won't see the expression used very often in the context of enterprise development. (Site selection is a process of enterprise development). Economic area is defined here, however, as a way of emphasizing that enterprise development leads to development within an economy. See the definition of enterprise and economic development.

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area economy:

... a defined geographic region with it population bound together by an effect in common which the production and distribution of goods and services has as accounted for through the gathering of data and generation of statistics that reflect economic and/or socioeconomic activity; the experience of a regional population in terms of wealth creation, retention, and use to the extent that, as a community, it changes and is, at least, sustainable.

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FYI: definition of economic area definition of area economy what is a regional economy what is an area economy what is an economic geography what does EEA stand for what is the European economic area what is the European area economy definition