Local economic development definition

Local economic development means local and socio-economic development as contemplated in section 152 of the Constitution, 1998;
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Local economic development means an element of local development which emphasises the mobilisation of endogenous resources and local knowledge and skills in a manner that attracts investments to generate inclusive economic activities and growth and promotes the equitable redistribution of resources.
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Examples of Local economic development in a sentence

  • Local economic development in Ba-Phalaborwa Municipality has been founded on and guided by the principles and objectives of the National Spatial Development Perspective (NSDP), The National Development Plan (Vision 2030), Limpopo Development Plan and the District Local Economic Development (LED) Strategy, recommendations of the District Growth and Development Summit.

  • All were useful.• Climate – lack of expertise• Sex disaggregated data because it was very difficult to understand.• Stereotypes it is influenced by a host of factors e.g. background• Conflict – I have attended so many workshops on conflict• Communication – poor knowledge• Local economic development.

  • Local economic development strategies seek to realise the potential of the City in a managed way that reflects Oxford’s historic legacy.

  • Local economic development initiatives have been planned to support of SMMEs, that is, job creation opportunities, well-being and economic growth.

  • Local economic development is defined as „a process in which partnerships between local governments, community and civic groups and the private sector are established to manage existing resources to create jobs and stimulate the economy of a well defined area‟ (Helmsing, 2003).

  • This statute enables municipalities to fund infrastructure improvements to attract business and/or housing development.• Local economic development organizations can be created by municipalities or residents wishing to affect positive economic change.

  • Local economic development has gained adequate attention since the second phase of decentralisation implementation.

  • Local economic development agencies can leverage their understanding of their territory’s assets and productive specialization to encourage technology and know-how spillovers from existing SEZs and inform the planning of new ones.

  • Local economic development shall be encouraged as it could have a spillover effect, which will be beneficial to the municipality as a whole, triggering more investment.

  • Freshwater ecosystems are essential providers of food and recreation but these cannot be mapped within the pilot exercise; other ecosystem services, e.g. mediation of gas and air flows, are less relevant for this exercise and will not to be considered by 2014.

Related to Local economic development

  • Research and development means (1) theoretical analysis, exploration, or experimentation; or (2) the extension of investigative findings and theories of a scientific or technical nature into practical application for experimental and demonstration purposes, including the experimental production and testing of models, devices, equipment, materials, and processes. Research and development does not include the internal or external administration of radiation or radioactive material to human beings.

  • Land development means the erection of buildings or structures on land, or the change of use of land, including township establishment, the subdivision or consolidation of land or any deviation from the land use or uses permitted in terms of an applicable land use scheme;