What is Community Economic Development?
Community Economic Development (CED) is a comprehensive, all-inclusive strategy by which communities can initiate and generate their own solutions for the revitalization and renewal of their community economies.
CED is:
- inclusive planning starting at the grassroots
- Responsive to locally defined priorities
- Focused on local control and local ownership of resources
- Flowing benefits of economic development equitably throughout the community
- Holistic in its approach by integrating the social, cultural, economic and environmental goals of the local community
Best practice characteristics of CED:
- Strengthening community control of local resources and businesses
- Providing reasonable access to financing for local business opportunities
- Building human resources through leadership development, literacy and pre-employment supports, skills training, and entrepreneurial development
- Building community capacity through planning, research, advocacy, strategic networking and partnerships
- Integrating social and economic goals for a more powerful impact
- Planning, action, reflection for effective results
- Directed by an organization that is non-profit, independent and non-government
