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Championing Economic Development


What is Economic Development

Economic development is the intentional practice of improving a community’s economic well-being and quality of life. It includes a broad-range of activities to attract, create, and retain jobs, and to foster a resilient, progrowth tax base and an inclusive economy. The practice of economic development comprises of a collaborative effort involving industry, government and myriad community stakeholders.

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Why Invest in Economic Development

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IEDC is proud to provide this resource, Why Invest in Economic Development, to our members, elected officials, public servants and all those interested in supporting economic development.

The federal government has always played a key supporting role in local and regional job creation. Included in this publication are only a fraction of federally funded programs which are leading the way as we work toward our common objective: a stronger, more resilient, more inclusive economy for all. For a modest investment of taxpayer dollars, these programs consistently offer a high rate of return. Equally as important, they are often working in communities and policy areas that might be otherwise overlooked by larger agencies and programs. By targeting specific services, regions or demographics, these examples of federal economic development efforts are able to be more impactful and would not be easily absorbed or duplicated by other agencies. These programs are an essential part of a broader effort to maximize opportunity for every American.

Federally funded economic development programs included in this publication are not just worthy of our support, but more so, they should be championed.

Use of logos throughout this publication does not necessarily imply affiliation or endorsement.