What is Local Economic Development?

LOCAL ECONOMIC DEVELOPMENT (LED) is not a project. It is a PROCESS.

Most municipalities think development means building something — a road,
a market, a factory. LED is different. It asks: how do we build an ECONOMY
that creates lasting jobs and prosperity for our citizens?

The World Bank defines LED as a process by which public, business and
nongovernmental sector partners work collectively to create better conditions
for economic growth and employment generation at the local level.

In practice, for a municipality this means:

STEP 1: UNDERSTAND WHERE YOU ARE
STEP 2: KNOW YOUR STRENGTHS
STEP 3: SET A CLEAR DIRECTION
STEP 4: DESIGN FUNDABLE PROJECTS
STEP 5: MOBILIZE RESOURCES
STEP 6: MEASURE AND LEARN

Municipalities with complete LED plans receive significantly more international
grant funding. MuniGrowth walks you through every step.