Local economic development
Economic development at the local level is a set of activities focused on the addressing of issues and problems of the private sector within one area. These activities include market interventions and development of the private sector contrary to the regular activities of local administration, i.e. provision of public services to the citizens.
Successful local economic development requires appropriate capacities related to the organisational arrangements and skills of staff. The economic development capacity implies an understanding of the needs of companies in different business sectors, and use of the tools such as economic trend analysis or added value chain analysis. At the same time, local economic development involves cooperation with a number of stakeholders and it depends on the pace of implementation of the development measures and initiatives.
EU ProLocal provides support to the partner local self-governments (municipalities and towns):
- Create sustainable organisational structures for the local economic development;
- Strengthen staff capacities in these structures;
- Use tools tailored to the needs of the different target groups: local growing and exporting companies, start-ups and investors;
- Develop and implement development initiatives;
- Introduce new and improve existing services for the companies.