Economic Development For A Defined Area - 908 Words

Economic development for a defined area has three primary goals—foster employment opportunities for the area’s current residents, diversify the area’s economic and employment base, and stabilize the local economy (Blakely Leigh, 2013). By providing quality jobs for an area’s residents, versus the more costly alternative of bringing new firms to the area (which could also require a different skill set in their labor force than what the city currently has--rendering the city’s effort somewhat fruitless), the economic planning organization is looking to create employment diversity and opportunities from within their own community that are suitable for the area’s workforce. An area must also be highly aware of the business environment within the community to ensure that local economic stability is possible. If the city does not have a diverse infrastructure that firms require to conduct business than the locality will not be able to grow, retai n, or attract firms within or to the area. Diversity in the economic and employment base is also a complex and constantly evolving challenge for local economic development practitioners. The organization must be able to keep track and organize employment data within a locality to see where certain sectors of the economy are in the need of assistance to prevent employment gaps in the community. Planner’s should be constantly comparing their strategies and approaches to the three goals local economic development, and prevent any actionShow MoreRelatedQuestion: Define Economic Growth and Development and Explain the Characteristics of Each Giving Examples in Kenyas Case.956 Words   |  4 PagesEconomic growth is defined as a positive change in the level of production of goods and services by a country over a certain period of time. It is usually measured using GDP and labour earnings. Economic development is defined as sustainable increase in living standards. It entails increased per capita income, better education and health as well as environmental protection. Characteristics of economic growth 1. Education: A country with an educated populace generally records higher levels ofRead MoreEconomic and Social Impact of Tourism in the Case of Tourist Destinations in Carrying Capacity Issues645 Words   |  3 Pagesissues, including tourism management, environmental, economic and social impacts of tourism in the case of tourist destinations in carrying capacity issues. The subordinate topics of Tourism Carrying Capacity during Kadayawan 2013 in Davao City are: a.) Physical-ecological; b.) Socio-demographic; c.) Political-Economic. Tourism carrying capacity Markusen (1999) defined tourism as a slippery and fuzzy concept. It is quite complex to be defined perfectly because it depends on its purpose, use and analysisRead MoreThe Rural Urban Gap And The Policy Response Essay1689 Words   |  7 Pages ABSTRACT The rural-urban gap in development attainment has attracted the attention of many economists. Lewis, Fei-Ranis, and Harish-Todaro models focus on the rural-urban dualism in underdeveloped economies and proceed to illustrate how the economies get transformed in the process of development. When India attained independence in 1947, it was a predominantly rural, agricultural and colonially exploited poor country. During the last seven decades of development effort the country have achievedRead MoreUrban Development : The Asian Pacific Region1740 Words   |  7 PagesTopic 2 : URBAN DEVELOPMENT â€Å"The (Asian and Pacific) region remains host to over half of the world’s slum population...At the same time, the percentage of urban population living in slums (these are households with no durable housing, insufficient living area, no access to water nor sanitation) has skyrocketed since 1990 and reached 30.6 per cent in 2010 (about 500 million people). Poverty is now growing faster in urban than in rural areas.† STATEMENT OF THE ISSUE The Asian-Pacific region is uniqueRead MoreDisaster Essay1644 Words   |  7 PagesOPPURTUNITIES FOR DEVELOPMENT† DISASTER: Disaster can be defined as â€Å"The occurrence of a sudden or major misfortune which disrupts the basic fabric and normal functioning of a society, or community.† â€Å"An event or series of events which gives rise to casualties and/or damage or loss of property, infrastructure, essential services or means of livelihood on a scale which is beyond the normal capacity of the affected community’s ability to cope with out aid.† According to UNISDR Disaster is defined as â€Å"A seriousRead MoreWhat Is Inverse Spatial Conservation Prioritization1333 Words   |  6 Pagesof protected areas, it is used to identify areas that have the highest economic value but also the lowest ecological value. The reason why we are looking for alternative ways to protect unprotected areas is because there are not enough resources to protect entire landscapes and not every area that has ecological value can be protected. We cannot protect all areas and have none for humans to harvest resources. Therefore, the implementation of inverse spatial design to identify the areas that are mostRead MoreThe Problems of Defining Development Essay918 Words   |  4 PagesThe Problems of Defining Development Development is very difficult to define as it has a wide range of meanings and has therefore been used in a variety of ways, by different people or organizations at different times. For example, geographers will link development with improvements in human welfare e.g. greater wealth, better education and health. Many geographers will measure development in terms of the countries HDI (Human Development Index). However, on the otherRead MoreDevelopment Is Not A Synonym For Infrastructure1333 Words   |  6 PagesDevelopment is not a synonym for infrastructure. Yet, these two words are often used in interchangeably. Halifax, a small city in the province of Nova Scotia, Canada is currently taking on the project of building a new convention center to replace the old and derelict convention center. This project has been widely accepted and praised by many local government officials and business people as a tremendous step forward and a driver for the city’s growth. While this project can be defined as new infrastructureRead MoreEssay on Lesotho: The National Vision 20201211 Words   |  5 Pagesgovernment headed by Prime Minister Motsoahae Thabane. Although corruption is a major problem in Lesotho, there have been remarkable improvements since 2011, thanks to the creation of independent institutions such as Directorate on Corruption and Economic Offences. EESE survey data reveals that enterprises in Lesotho are usually considered to be socially responsible, especially larger multinational companies. Despite scanty data, cooperation in labour-employer relations are comparable to those ofRead MoreThe During The Mid 20th Century1657 Words   |  7 Pagesto numerous countries all around the world. Each country have experienced developments, both negative and positive, to the social, political, and economic state of themselves. The history of the later twentieth century can be defined with the idea of reformation. These reforms are most prominent in the political, economic, and social states of a nation. The history of the time period following World War II can be defined using the concept of political reformation. There were a myriad of countries