Defining "Economic Development"

How do you define "economic development?"

When in doubt, ask Google. Here is what the search engine turned up for me this morning. I have marked those definitions that appeal to me the most with two asteriks (**).

Personally, I believe it is high time we re-defined our business in light of technology and the global economy. Yes, a reference to employment generation should remain in our future definition, but we need to add some other elements that accurately reflect what we are all about.

Definitions of economic development on the Web:

-Efforts to increase employment opportunities by getting new businesses to relocate in a community or existing businesses to expand. Differs from job development in the sense that it seeks to in-crease the pool of available work rather than soliciting employers to post openings for jobs that already exist. (See also Job Development.)www.cdr.state.tx.us/Researchers/Automated/FieldGuide/glossary.html

– qualitative improvement of the economic subsystem of society that is concerned with the production, consumption and distribution of goods and services to meet human needs. www.cadi.ph/glossary_of_terms.htm

-The improvement of an areaÕs employment, production or industrial well being. The availability of public transit can play an important role in economic development. Employment Transportation Transportation specifically designed to take passengers to and from work or work-related activities. EZ/EC Empowerment Zones/Enterprise Communities: These areas, so designated by the Department of Housing and Urban Development (HUD) and the Department of Agriculture (USDA), are eligible for preferences and flexibility in many federal grant programs. EZ/ECs are chosen competitively based on community poverty characteristics and local strategic planning processes. www.ctaa.org/ntrc/glossary.asp

-Any effort or undertaking which aids in the growth of the economy. Topic areas:Fundraising and Financial Sustainability, Staff Development and Organizational Capacity www.nonprofitbasics.org/CompleteGlossary.aspx

-The process of raising the level of prosperity and material living in a society through increasing the productivity and efficiency of its economy. In less industrialized regions, this process is believed to be achieved by an increase in industrial production and a relative decline in the importance of agricultural production. www.indiana.edu/~ipe/glossry.html

-The process of improving the quality of human life through increasing per capita income, reducing poverty, and enhancing individual economic opportunities. It is also sometimes defined to include better education, improved health and nutrition, conservation of natural resources, a cleaner environment, and a richer cultural life. www.agtrade.org/defs.cfm

-is any effort or undertaking which aids in the growth of the economy. envision.ca/templates/profile.asp

**-To promote the stabilization, retention or expansion of the economic base and quality employment opportunities. www.lic.wisc.edu/shapingdane/facilitation/definitions.htm

-the process of growth whereby countries raise incomes per capita and become industrialised (also refers to the branch of economics that studies this process) (chapter 19)www.johnwiley.com.au/highered/eco2e/macro/lect-res/glossary.html

**-A rise in real income per person; usually associated with new technology that increases productivity or resources.highered.mcgraw-hill.com/sites/0072452706/student_view0/glossary.html

-"is the sustained, progressive attempt to attain individual and group interests through expanded, intensified and adjusted use of available resources." (Shaffer)agecon.uwyo.edu/EconDev/glossary.htm

**– actions taken to improve the ability of people to more productively use capital and natural and human resources in the production of goods and services. www.whitehall.k12.mi.us/curriculum/socialstudies/glossaryofterms.htm

– Organized efforts to attract new business into an area or to encourage existing business to expand.www.altusgroup.com/electricityglossary/e.asp