Organising Local Economic Development
The Role of Development Agencies and Companies
Development processes occur within a wider geographical area than local government, and in some cases encompass a broader scope than provincial or national governments. Thus substantial inter-governmental co-operation and public-private partnership are needed. This book identifies how development agencies and companies work, what they do and what constitutes success and value added. It explores international practices in a variety of locations and contexts, and defines both the success factors and the challenges associated with economic development agencies and companies.
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The value-added of development agencies
Given their unique characteristics, development agencies can offer much to local leaders. This chapter links the theoretical discussion of how and where development agencies add value to local development systems to practical examples of the impact of these organisations on the ground in a variety of operating environments. First, the functions of development agencies are divided into eight categories, which range from branding and international promotion to human capital development and social or green initiatives. Then, key performance indicators are used from agencies in each of the five typologies identified in Chapter 2 to demonstrate the depth and breadth of the practical contribution development agencies can make to the local development process.
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