Defining Local Economic Development (LED)
LED can be defined as the plans, strategies, actions or interventions that are initiated or pursued at local or community levels to achieve economic growth, i.e. to enhance the economic capacity and well-being of residents and its constituent communities. Key outputs include job and wealth creation, and poverty reduction. LED is therefore an important contributor to creating sustainable livelihoods and communities and helps to accelerate the pace of economic growth in a country, by bringing new persons, opportunities and neglected areas into the mainstream of the productive and developmental processes.
LED is not an alternative to or substitute for the classical national economic development model, nor is it in competition with that model. Rather, LED is complementary and is pursued in close alignment with national development strategies and programmes.
Role and Functions of Local Authorities and Partners in the LED Process
The Clarendon Municipal Corporation and its local partners have played an importan role in promoting and facilitating LED in the parish and its constituent communities. The Corporation have not only taken direct responsibility for local economic development, with the establishment of a permanent LED unit at our offices. But everyday we in fact carry out functions that impact greatly on this area.
Depicted below are some of the projects we have implemented thus far to drive local economic development: