The economic development of community Definition The process of creating wealth through the mobilization of human, financial, capital, physical and natural resources to generate marketable goods and services. The economic developer’s role is to influence the process for the benefit of the community through expanding job opportunities and the tax base. The purpose of community development is to produce assets that may be used to improve the community, and the purpose of economic development is to mobilize these assets to benefit the community GROWTH VS DEVELOPMENT Growth by itself could be either an improvement or a detriment to a community. For instance, a facility that paid very low wages might open in an area and the population and overall size of the economy might increase, but per capita, incomes might fall, and the quality of life might suffer. Such growth could bring more congestion, pollution, and other negative externalities without a commensura...
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