The Enterprise and Economic Development Glossary

a resource of the .network library

local:

... of or relating to the smallest area of consideration by comparison to those that are larger or more widespread. In an arrangement of various types governed places by size, for example, the expression local government may refer to that of a town whereas the government of a country would be at the national level. The scheme for organizing Area Development.in the Economic Development Network website is an example of an arrangement that takes users from the national (Nations of the World) to the local level.

local development authority

... an entity of government in a location defined by jurisdiction having legal or rightful power to represent tax payers or the people in matters of its purpose, such as economic development. A quasi-governmental authority is typically one that is managed or controlled by an independent organization. For example, a chamber of commerce may house a local development authority and provide staffing in agreement with local government.

local economic development

... the process as it takes place within a community or a group of contiguous communities represented by a local development organization.

local economic development organization

... an enterprise dedicated to the economic development of a locale at the local level.

local economy

... the elements of production, distribution, and consumption of goods and services within an area as it affects a specific location and the benefits derived therefrom by its citizenry.

local existing industries

An existing industry is typically a significant employers operating in an area and given recognition for the contribution it makes to the local economy (see the definition of local economy above). A place seeking economic development should be in position to supply an industrial directory or list of industrial enterprises to prospects. Interviews with local existing industries are often arranged behind closed doors for prospects so that they can get a first-hand impression of local work ethic and to analyze labor activity.

More definitions in Area and Local Development, Appendix G of the .network glossary

definition of local level / what is local economic development / definition of local economy

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