Economic development is the process of improving the long-term economic well-being and quality of life of a community, region, or state. In practice, it encompasses a wide range of interconnected efforts: growing the workforce, supporting businesses and entrepreneurs, attracting and retaining investment, fostering innovation, developing infrastructure and expanding access to opportunity for all people.
Economic development is not a single program or agency, it's an ecosystem. It requires collaboration across government, higher education, the private sector and community organizations. It requires data to understand where gaps exist, relationships to bridge them and sustained commitment to see long-term strategies through. And it requires someone to play the role of convener — bringing the right people together, keeping efforts aligned and making sure the whole is greater than the sum of its parts.
