Member-only story

Community Economic Development in the United States

Ken Follett

·6.3k Followers· Follow

Published in Community Economic Development In The United States: The CDFI Industry And America S Distressed Communities

5 min read

634 View Claps

84 Respond

Save

Listen

Community economic development (CED) is a process by which communities work together to improve their economic well-being. CED can take many forms, but it typically involves working to create jobs, improve infrastructure, and promote economic growth. In the United States, CED is often carried out by local governments, community organizations, and non-profit organizations.

Community Economic Development in the United States: The CDFI Industry and America’s Distressed Communities

by History Highlights

4.7 out of 5

Language	:	English
File size	:	1446 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	253 pages

History of CED in the United States

The roots of CED in the United States can be traced back to the early 20th century, when social reformers began to advocate for government intervention to address poverty and social inequality. In the 1930s, the New Deal brought a wave of federal programs aimed at stimulating economic growth and creating jobs. These programs included the Public Works Administration, the Works Progress Administration, and the Tennessee Valley Authority. The New Deal helped to lay the foundation for modern CED, and many of the programs created during this period continue to operate today.

Principles of CED

CED is based on the following principles:

Community involvement: CED involves the active participation of community members in the planning and implementation of economic development initiatives.
Local control: CED decisions are made at the local level, with input from community members and elected officials.
Sustainability: CED initiatives are designed to promote economic growth that is sustainable over the long term.
Equity: CED initiatives benefit all members of the community, regardless of race, gender, or income level.

Types of CED Initiatives

CED initiatives can take many forms, but they typically fall into one of the following categories:

Job creation: CED initiatives can create jobs by attracting new businesses to the community, expanding existing businesses, or providing training and support to entrepreneurs.
Infrastructure improvement: CED initiatives can improve infrastructure by investing in roads, bridges, water systems, and other public works.
Economic growth: CED initiatives can promote economic growth by increasing investment, innovation, and productivity.

Benefits of CED

CED can provide a number of benefits to communities, including:

Increased economic growth: CED can help to create jobs, improve infrastructure, and promote economic growth.
Improved quality of life: CED can lead to improved housing, education, healthcare, and other quality of life indicators.
Increased social cohesion: CED can help to bring people together to work towards a common goal and build stronger communities.

Challenges to CED

CED can be a challenging undertaking. Some of the challenges that communities face include:

Lack of resources: CED initiatives often require significant financial and human resources, which can be difficult for small communities to secure.
Political opposition: CED initiatives can sometimes face opposition from elected officials or other community leaders who do not support the goals of the initiative.
Community apathy: It can be difficult to engage community members in CED initiatives, especially if they do not see the immediate benefits of the initiative.

CED is a vital tool for communities that want to improve their economic well-being. CED can take many forms, but it typically involves working to create jobs, improve infrastructure, and promote economic growth. CED is based on the principles of community involvement, local control, sustainability, and equity. CED initiatives can provide a number of benefits to communities, including increased economic growth, improved quality of life, and increased social cohesion. However, CED can also be a challenging undertaking, and communities must be aware of the challenges before they embark on a CED initiative.

Community Economic Development in the United States: The CDFI Industry and America’s Distressed Communities

by History Highlights

4.7 out of 5