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Economic Development
“...a process by which local government and/or community-based groups manage their existing resources and enter into new partnership arrangements with the private sector; or with each other, to create new jobs and stimulate economic activity in a well-defined economic zone.”
-Edward J. Blakely
Why is Economic Development Important?
- Economic development is necessary for sustaining the competitiveness of the local economy and raising overall productivity and incomes.
- Additional development can help maintain a high level of employment and job quality.
- It can help to create the jobs necessary for providing opportunities for the un-employed and under employed
- It can provide the earnings needed to make further investments in education, government services, amenities, infrastructure, and quality of life.
Typical Services of Economic Development Agencies
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