Book Description

This book is designed to provide an introductory understanding of challenges, goals, processes, and procedures for economic developers, particularly economic development volunteers, in rural areas and small towns. Chapter 1 defines economic development and basic terms. Chapter 2 describes major economic, social, and demographic trends that influence the development prospects of small communities and rural areas. Chapter 3 discusses 10 common denominators of success for development organizations and steps in getting started. Common problems are addressed in Chapter 4. Chapter 5 reviews the basics of site selection and describes a 12-step process. Chapter 6 discusses in detail a strategic planning process that is composed of a cycle of eight steps. Focus of Chapter 7 is on the rationale behind targeting and on data sources and techniques to select target industries. Chapter 8 provides information on business retention, expansion, and creation programs. Chapter 9 describes a comprehensive approach to marketing as applied to economic development based on the strategic planning and targeting frameworks and an understanding of the site selection process presented in earlier chapters. Each chapter concludes with references to books, articles, and organizations that are particularly relevant to the topics covered. Twenty exhibits supplement the text, and a 107-item annotated bibliography lists relevant books, articles, government publications, and development organizations. The book is intended to be a useful reference book for local government officials, community leaders, educators, and others involved in the community economic development field. (YLB)