Local Economic Development (LED) is a process by which public, business and non-governmental sector partners work collectively to create better conditions for economic growth and employment generation. The purpose of LED is to build up the economic capacity of a local area to improve its economic future and the quality of life for all.
What is the impact of LED to LGUs?
LGUs can increase income and create more jobs in their community by providing and enabling environment for LED – an environment that will encourage public, community and private business to prosper and for investors to come in. Increase income that is invested towards more effective delivery of services will in turn improve the community’s quality of life.