Concept of LED
Local economic development (LED) refers to the process in
which local governments engage to enhance economic prosperity and quality of life.
LED helps all citizens realize and equitably benefit from economic development. Canada has a long track record in LED.
Worldwide, there is a resurgence of interest and commitment to local economic development (leD) premised on the desire to not only more significantly foster broad-scale development, but most importantly to do so in a manner that engages local citizens and communities, fairly considers all citizen interests, prioritizes equitable and sustainable sharing of responsibilities and results in a greater realization and more equitable distribution of the benefits of economic development.