Why local economic development requires strategy

Traditional Strategies and Tools of Local Economic Development Business retention, revolving loan funds, tax increment financing, tourism, bond issuance, PILOTs, tax abatement… All are examples of the core strategies and tools utilized every day by most economic developers. Sometimes controversial, oftentimes boringly commonplace, often misunderstood— and almost always in need of some explanation as to why they work and why economic developers use them.

Why local economic development requires strategy

Businesses that invest in trees realize far reaching and ever growing returns: Employers find greater employee productivity, satisfaction and retention at businesses located on properties with trees and other vegetation.

By luring people outside, trees encourage increased physical activity. Studies suggest that attractive streetscapes and parks that include trees, can lead to an increase in physical activity. Urban trees can lower health care costs associated with asthma and other pollution-related health problems by providing cleaner, safer air.

Cars are the main polluters; each day, Atlantans daily drive more than million miles a day, causing the release of tons of nitrogen oxides.

Why local economic development requires strategy

Preserving and increasing tree cover can mitigate some of the impacts of driving related air pollution. Open Space in General Preservation of parks, forests, farms, stream valleys and trees increases the value of nearby houses, increases tax revenues, supports local businesses, decreases government spending through the natural provision of ecosystem services, decreases the cost of recreation, and creates jobs.

Preserved open spaces contribute to local economies and property values, create savings on health care and recreation, and perform valuable ecosystem services that naturally improve the air we breathe and the water we drink.

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In Southeastern Pennsylvania, these economic benefits include: It was based on sale prices between and Within meters of a house, open space had the most positive impact on house price, followed by large-lot single family residential land. Commercial, small-lot single family residential, and multi- unit residential were less desirable and the least desirable land use was industrial.

Between and meters away from a house, commercial land use had the most positive amenity impact, followed closely by large-lot single family residential housing. For open spaces, only government owned land and land protected by a conservation easement positively impacted residential property values.

Within meters of the house, open space with conservation easements are viewed less positively than open space without easements. This could be because this category includes agricultural conservation easements, and such land tends to be intensively managed, which may not be desirable to nearby homeowners.

Easements are perceived as a positive amenity if the parcel is located between and meters from the house. It designates a portion of receipts from offshore oil and gas leases into a fund for land conservation and recreation.

The Economic Benefits of Land Conservation The Trust for Public Land This report brings together scientists, economists, and researchers from academia, government, nonprofits, and industry to summarize the best current studies, present new research, and to suggest areas for further inquiry into the economic benefits of land conservation.

To show how a strategy of land conservation is integral to economic health, the report: Illustrates that parks and open space generate increased property tax revenue and yield a better return on investment than development:The World Bank Group works in every major area of development.

We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. Capacity building (or capacity development) is the process by which individuals and organizations obtain, improve, and retain the skills, knowledge, tools, equipment and other resources needed to do their jobs competently or to a greater capacity (larger scale, larger audience, larger impact, etc).Capacity building and capacity development are often used interchangeably.

Practitioner’s Guide. 5. Why Focus on Regions and Innovation? Regional Development. These four tools have been crafted to assist local practitioners in implementing regional approaches to. Rural Development Strategy for Upper Egypt: Rural Non-farm Economy: The importance of local ownership of the development process is however central to most local economic development approaches, which simultaneously views development within the context of governance and civil society at all levels.

Local economic development requires. What is local economic development? Local economic development (LED) is seen as one of the most important ways of decreasing poverty.

Why local economic development requires strategy

Local economic development must aim to create jobs by making the local economy grow. This means that more businesses and . The Business Commission draws upon the expertise of global private sector and civil society leaders to investigate, articulate and amplify the business case for sustainable development.

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