LED in the Context of Cities from the easiest to the most difficult A Great City generates much more wealth than it consumes for mere existence. A Great City generates enough wealth to support growth in the city as well in its surrounding region.
Create a great place to live and to develop economically
The City will do the rest
The Five Economic Forces Exerted by Cities on Their Own Regions
City developed technology
Transplanted city work
City generated capital
Perfect situation for ToD
ToD in the Center of Regional Towns of a Great City
A great way to leverage the five forces and accelerate LED
Stockholm The Gr Stockholm Transit Oriented Metropolis The Gr Copenhagen Transit Oriented Metropolis The 1961 National Capital Plan for Gr Washington BC Is Beer-Sheva a Great City? What about rail stations in the center of the towns?
The purpose of local economic development (LED) is to build up the economic capacity of a local area to improve its economic future and the quality of life for all . It is a process by which public, business and non-governmental sector partners work collectively to create better conditions for economic growth and employment generation.
At the threshold of the 21st century, cities and towns headline the World Bank's development campaign.
Within a generation, the majority of the developing world's population will live in urban areas, while the number of urban residents will double, increasing by over 2 billion inhabitants.
Cities and towns are not only growing in size and number, they are also gaining new influence .
The urban transition offers significant opportunities to improve the quality of life for all individuals, but whether this potential is realized depends critically on how cities are managed and on the national and local policies affecting their development.
We must have strong cities to have a strong America.
CEOs for Cities is a national network of urban leaders dedicated to creating next generation cities that hold the answers to many of the challenges our nation faces.
If you care about keeping America globally competitive, fostering innovation, providing citizens access to opportunity and education, combating climate change, improving healthcare outcomes and learning how diverse people can co-exist peacefully, then you must be concerned about cities because that is where the solutions to these challenges will be met.
You can’t have a strong America without strong cities.
Which Programs Do Not Work (But We Still Keep Using Them!)
Unfortunately there are countless examples of failed LED strategies and projects. These include:
Expensive untargeted foreign direct investment marketing campaigns
Supply-led training programs
Excessive reliance on grant-led investments
Over-generous financial inducements for inward investors (not only can this be an inefficient use of taxpayers money, it can breed considerable resentment amongst local businesses that may not be entitled to the same benefit).
Business retention subsidies (where firms are paid to stay in the area despite the fact that financial viability of the plant is at risk)
Reliance on "low-road" techniques, e.g., cheap labor and subsidized capital
Government-conceived, -controlled, and -directed strategies
Cities are engines of economic growth . As a nation's primary source of job creation and wealth generation, cites produce goods and provide services which strengthen economic opportunities for the entire country. Local Economic Development (LED) is a process of planning and implementation that seeks to increase the economic potential of a city, town, or region. LED aims to improve the economic future and the quality of life for all local residents and businesses. Although the process can be time-intensive, it is important to bring the public, business and civil society sector together to work collectively in creating better conditions for growth and employment generation. This ensures that all available local resources are accessed and that there is sufficient buy-in across all sectors to increase the chances of sustainability .
Much of a city's potential competitive advantage lies in its various forms of capital (human, natural resources, land, location, and infrastructure).
Decentralization has forced local governments to take more responsibility for designing their own economic development strategies, usually in partnership with the private sector.
Entrepreneurship: A Catalyst for Urban Regeneration
Entrepreneurship and urban regeneration policy have traditionally been treated as separate fields. This volume is one of the first to focus explicitly on the links between the two , examining how policy can help regenerate inner cities and other areas of urban distress by stimulating entrepreneurship. It sets out recent policy developments in North American and European cities in: - Financing entrepreneurship. - Providing advice, training and mentoring to entrepreneurs. - Using special zones and area-based policies to grow new and small firms. - Supporting social enterprises.
This book presents a 'toolbox' of instruments for entrepreneurship development in what often appear to be the most hostile environments for economic development in our cities, showing how entrepreneurship can indeed prosper given the right stimulus.
The Congress for the New Urbanism views disinvestment in central cities, the spread of placeless sprawl, increasing separation by race and income, environmental deterioration, loss of agricultural lands and wilderness, and the erosion of society's built heritage as one interrelated community-building challenge.
Local Economic Development, Human Development, and Decent Work Best practices and trends
Based on the review of hundreds of LED programs from 24 organizations Worldwide
The most significant item that characterizes them is the participatory approach .
… participation is now considered the base, the condition sine-qua-non for fostering local economic development strategies and actions.
A new trend is, however, coming along: participation is not seen as an instrument for building consensus , but as a way of good governance . The accent on good governance, in fact, is more and more evident in the most recent initiatives, such as the Ilo, Undp and Unops Ledas, the World Bank, South Africa and it, in fact, also responds to the human development aims of United Nations.
Objectives, strategies and tools, of course, vary from case to case.
Also in this case traditional objectives could be recognized in the improvement of employment , when job creation, promotion of micro and small local enterprise, attraction of external investment, territorial revitalization are mentioned. However a new typology of advanced objectives is recognizable: the improvement of the quality of life of the citizens in a more integrated approach, which includes human development, decent work, inclusion of the socially excluded people and the protection of the environment.
Participatory approach including all stakeholders and sectors, led by local government
Focus on quality of life
Growth of local businesses
Promotion and support of innovation and entrepreneurship (both business and social)
Business friendly policies
Focus on cities and urban regeneration
The MIU approach
Charrette, Quality in Density Toolbox, Mayors Institute
Creating sustainable and humane cities and communities in Israel
In order to improve the quality of living in Israel, while contributing to the global sustainability effort, the MIU promotes quality urban living based on compact, quality and sustainable urban environments.
Diversity and walk-ability
Focus on making the local environment great for the locals
compact, quality and sustainable urban environments provide opportunities and breed innovation
We view the city as the key mechanism that provides people the opportunities to fulfill their inherent potential