Local Economic Development (LED) offers local government, the private sector, the not-for-profit sectors and the local community the opportunity to work together to improve the local economy. It aims to enhance competitiveness and thus encourage sustainable growth that is inclusive.
The World Bank’s support to client cities and local governments has ranged in recent years from assisting in preparing local economic development strategies, analyzing urban economies using economic base, location quotient and shift share analysis, and financing infrastructure for urban district, riverfront, and brownfield redevelopment. Support has also been provided to city-level local economic development agencies. Most recently the Bank has launched a pilot initiative to test out a data-mining technique intended to help post-industrial cities in developing market intelligence and using this to attract new retail services, financial services and real estate development, in addition to expanding their local tax base. Examples and case studies illustrating these approaches and techniques can be found on the LED website.
This website is designed to offer practical guidance to cities, by way of a toolkit, reference guide and primer, among others, as well as to show what the World Bank is doing on Local Economic Development.