Used in a regional context, economic development focuses on the recruitment of business operations to a region, assisting in the expansion or retention of business operations within a region or assisting in the start-up of new businesses within a region. In addition to economic models, the needs of constituency groups guide economic developers actions. For example, a local economic developer working out of a mayor's office may act towards decreasing unemployment by attracting businesses with large labor needs (call centers).


In its broadest sense, economic development encompasses three major areas:

  1. Policies that governments undertake to meet broad economic objectives such as price stability, high employment, expanded tax base, and sustainable growth. Such efforts include monetary and fiscal policies, regulation of financial institutions, trade, and tax policies.
  2. Policies and programs to provide infrastructure and services such as highways, parks, affordable housing, crime prevention, and K-12 education.
  3. Policies and programs explicitly directed at job creation and retention through specific efforts in business finance, marketing, neighborhood development, small business development, business retention and expansion, technology transfer and real estate development. These policies may be directed by central government [3]. This third category is a primary focus of economic development professionals.

Common Questions

Does your community want to become a more attractive tourist destination?


Economic Development Contacts

  1. Teresa Cameron

Economic Development Resources