Community Economic Development
In creating a new Rural Development Strategy, the Province is committed to the principles of Community Economic Development (CED), which involve a holistic, integrated approach to improving economic, social and environmental conditions in rural communities. The five key principles of Community Economic Development are as follows:
- Sustainability: Is this a long term solution?
- Sustainability refers to environmental, social, cultural and financial continuity, and community well-being. CED involves analysis and planning to implement policies and practices that will make communities resilient for the long-term.
- Community Based: Does it serve the interests of the broader community?
- Community-based in CED means an enterprise or community-wide planning process that is focused on the common interests of the broader community, as well as the individual participants. CED facilitates community control using a grass roots, bottom-up process.
- Participatory: Have a broad and diverse range of community members been involved?
- Participation in CED is by a broad and diverse range of community/project members in terms of class, age, culture, gender and ability. CED invites and ensures active and inclusive participation in the planning and implementation of strategies.
- Asset-Based: What are the community’s resources and assets?
- In CED, the resources, talents and abilities of the community form the foundation for planning and developing projects. CED builds on local community resources and assets as well as meeting needs.
- Self-Reliance: Does it reduce economic dependence?
- CED reduces economic dependence of communities by analyzing the flow of wealth in, out and within the community, identifying how leaks can be plugged and establishing trade links that benefit all partners.
Further resources on community economic development can be found here.