Community economic development

Community Economic Development (CED) is an approach that recognizes that economic, environmental and social challenges are interdependent, complex and ever- changing. To be effective, solutions must be rooted in local knowledge and led by community members. CED promotes global approaches, addressing individual, community and regional levels, recognizing that these levels are interconnected. CED has emerged as an alternative to conventional approaches to economic development. It is founded on the belief that problems facing communities - unemployment, poverty, job loss, environmental degradation and loss of community control - need to be addressed in a global and participatory way.

Essential characteristics of CED Corporations:

• Strong knowledge of the community;
• Integrated and global approach;
• Democratic and participatory governance involving a variety of stakeholders, partners and the population;
• Activities and services adapted to the needs and the capacity of people and organizations;
• Social innovation;
• Community partnerships, mobilization, empowerment and accountability;
• Local management of public funds.

http://www.lescdec.qc.ca/data/downloads/Fev_07_socialeconomy.pdf