Economic Development 101
Economic Development Australia – SA Chapter
Economic Development 101
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Economic development defined
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Case Study – Port Adelaide-Enfield
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Case Study – Charles Sturt
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Launch - LGA
Economic Development 101
EDA definition and Loddon Shire (Vic)
The purpose of local economic development (LED)
is to build the economic capacity of a local area to
improve its economic future and the quality of life
for all. It is a process by which public, business and
non-governmental sector partners work collectively
to create better conditions for economic growth and
employment generation.
Economic Development 101
Montrose Economic Development Corporation
(Colorado USA)
Economic development is a vital activity for any
community. It is the process of creating greater
wealth within a community by bringing in new
"outside" dollars. This is mainly achieved through:
 Retention, expansion, and recruitment of primary
jobs
 New capital investment
 Business creation and attraction
Economic Development 101
Planning Institute of Australia
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Economic development is the process by which
financial, social, human, natural, built and
institutional capital are brought together in more
creative and efficient ways to provide sustainable
and satisfying livelihoods for the community
The success of the work of Economic Developers
is ultimately measured in terms of the ability of
the local or regional economy to provide quality
employment for all who seek it.
Economic Development 101
City of Perth
Sustainable economic development forges a
stronger city, culturally and socially, with lasting
prosperity that improves the overall quality of living
Economic Development 101
Gold Coast City Council
Strategy prioritises economic opportunities to
deliver the following outcomes:
 business and investor confidence
 improved productivity
 employment
 diversification
 increased education and skills attainment
Economic Development 101
Economic Development 101
South Australian Centre for Economic Studies
Economic development refers to the process by
which economies evolve and change over time, with
particular focus on changes in economic and
industry structure, the rate of technological change
and overall rate of growth of activity levels and
employment opportunities. Understanding those
processes and their outcomes provides the basis for
economic development strategies.
Economic Development 101
Economic Development Model Guidelines June 2015
(Wattle Range Council and SED Advisory)
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Economic development is the process by which a
community or region can achieve structured and managed
sustainable economic growth and improved prosperity for
business and residents.
Economic development is generally the policy, strategy and
supporting actions set by governments and communities to
enhance economic and social prosperity.
Economic growth is the measure of economic activity such
as output, productivity, employment and community
prosperity that results from economic strategy.