What is economic development program?
Economic Development Assistance Programs (EDAP) Provide distressed communities and regions with strategic investments to support economic development, foster job creation, and attract private investments. Funding supports construction, non-construction, technical assistance, and revolving loan fund projects.
What is economic development example?
Economic development is the process by which emerging economies become advanced economies. During the development, there is a population shift from agriculture to industry, and then to services. A longer average life expectancy, for example, is one of the results of economic development.
What is the role of economic development?
An economic developer is responsible for planning, designing, and implementing economic development strategies, as well as acting as a key liaison between public and private sectors and the community. They also provide information on the community needed by local industries and the private and public sectors.
What are the three indicators of economic development?
The indicators of economic development are:
- Growth rate of National Income:
- Per Capita Income (PCI):
- Per Capita Consumption (PCC):
- Physical Quality Life Index (PQLI) and Human Development Index (HDI):
- Industrial progress:
- Capital formation:
What are the various measures of economic development?
The human development index (HDI), composed of three indicators: life expectancy, education (adult literacy and combined secondary and tertiary school enrollment) and real GDP per capita. (Note: for our purposes, GNP and GDP mean the same thing and they are synonymous with income.)
What is the best way of measuring economic development?
Economists usually measure economic growth in terms of gross domestic product (GDP) or related indicators, such as gross national product (GNP) or gross national income (GNI) which are derived from the GDP calculation.
What is economic development strategy?
A comprehensive economic development strategy (CEDS) is a strategic planning document and planning process that helps guide the economic growth and development of communities and regions.
What is economic development incentive?
Economic development incentive. An economic development incentive can be strictly defined as “cash or near-cash assistance provided on a discretionary basis to attract or retain business operations.
What is an economic development fund?
The Economic Development Fund (EDF) finances projects and programs that create or retain jobs, improve the local or regional tax base, or otherwise enhance the quality of life in the community. EDF gives priority assistance for physical improvements in support of job creation or job retention as well as downtown/commercial center revitalization.
What is a community economic development project?
The Community Economic Development (CED) program provides funding for projects aimed at business development opportunities and creating employment for low-income individuals located in geographic areas with a demonstrated need. Bonus points will be awarded to projects…