Economic Development Strategic Planning: Training Manual
Economic Development Strategic Planning: Training Manual
As cities assume greater responsibility for their own economic development, the need for economic development practitioners to set clear and attainable economic development goals and objectives and to design policies and programs to achieve them, increases in importance. Ever present fiscal constraints and competing demands for scarce resources also make it necessary to set priorities and develop more rational approaches to economic development. This training manual addresses how to plan local economic development strategically. In particular, it discusses the process of planning strategically and how an economic development strategy can improve the effectiveness of local development programs. The manual also addresses how to identify the potential strengths and weaknesses of a local economy in order to devise effective programs. It examines how to relate economic analysis to the formulation and design of policy and programs. By identifying and explaining the factors and methods critical to successful economic development planning, this manual attempts to assist public and private organizations to build stronger, healthier economies.

The objective of the manual is to provide economic development practitioners with the following knowledge base and skills:

- Understand the importance of planning for economic development;
- Conduct economic base analysis and other analysis including demographics, changes in technology, competition, socio-cultural changes, etc.;
- Develop aggressive yet realistic goals, objectives, and strategies that most productively focus community efforts;
- Evaluate different project proposals, identify those projects or policies that best meet local economic development goals and objectives and find local resources such as finances, staff capabilities, incentives and inducements;
- Demonstrate different approaches, tools and methods used to bring different local representatives into the planning process and build consensus; and,
- Incorporate monitoring and evaluation techniques to ensure project impact.
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