WHY IS LEADERSHIP IMPORTANT?
Strong leadership is essential for success in energy projects. Leadership comes from the right combination of vision and consistent follow-through. This foundation will inform the community’s direction on economic development. A sound economic development strategy depends on many factors.
WHAT IS AN ECONOMIC DEVELOPMENT STRATEGY?
An economic development strategy is the coordinated and systematic series of decisions and actions taken by leaders, policy makers and community members that promotes the economic health and standard of living of a specific area. Having a sound economic development strategy is a way of creating a system for assessing economic development opportunities. Without that system, any community will be forced into a position of reacting to the moves of others, instead of cohesively generating and assessing possibilities.
FACTORS TO CONSIDER
- How is economic development structured and strategized?
- How does governance framework support economic development?
- What are the capacity issues?
- How can capacity issues be mitigated?
- How does leadership engage with community on designing an economic development strategy?