Community economic development

It has been suggested that Community economic analysis be merged into this article. (Discuss) Proposed since December 2023.

Community economic development (CED) is a field of study that actively elicits community involvement when working with government and private sectors to build strong communities, industries, and markets.^[1] It includes collaborative and participatory involvement of community dwellers in every area of development that affects their standard of living.

Community economic development encourages using local resources in a way that enhances economic opportunities while improving social conditions in a sustainable way. It equally facilitates the effective exploration and utilization of local resources for optimal community advantages. Often CED initiatives are implemented to overcome crises and increase opportunities for communities who are disadvantaged. An aspect of "localizing economics," CED is a community-centered process that blends social and economic development to foster the economic, social, ecological, and cultural well-being of communities. For example, neighborhood business organizations target growth in specific commercial areas by lobbying government authorities for special tax rates and real estate developments.^[2]

Community economic development is an alternative to conventional economic development. Its central tenet is that "problems facing communities—unemployment, poverty, job loss, environmental degradation and loss of community control—need to be addressed in a holistic and participatory way."^[3]