A Concise Guide To Local Economic Development

This book outlines some useful guidelines for LED practitioners, development planners, and Local Government Units (LGU) in conducting local resource inventory; in identifying the strengths, weaknesses, threats and opportunities of a local area; and in formulating a strength-based strategy to spur the economic development of an area. The development of the local economy in a decentralized system is a crucial and all-embracing process which justifies the need for close connection between local government authorities and other local development partners. The book demonstrates how to draw from the different development actors in a local area and weave that into the economic development process of the area. The expected role of key stakeholders in LED planning is well articulated and a framework of LED planning is also presented. The book also demonstrates the nexus between LED planning and spatial planning, which reminds development planners that development planning entails both physical and sectoral planning. This means a municipality should have a comprehensive land use plan that would complement its development efforts.