ABSTRACT
Community Economic Development may be defined as a plan of action to build new resources that will strengthen the local community internally as well as in its relations with the larger world. The tool of this strategy is often a Community Development Corporation (CDC) which is organised and controlled by local residents to develop the economy of their own community. This ‘third sector’ non-profit enterprise-as opposed to the governmental and private profit-oriented sectors-has these objectives: • to identify and develop local skills and talents; • to own and control land and other resources; • to start new businesses and industries to increase job opportunities; • to sponsor new community facilities and services; and • to improve the physical environment.
