Community economic development encourages using local resources in a way that enhances economic opportunities while improving social conditions in a sustainable way. Often CED initiatives are implemented to overcome crises, and increase opportunities for communities who are disadvantaged. An aspect of “localizing economics,” CED is a community-centered process that blends social and economic development to foster the economic, social, ecological and cultural well-being of communities. For example, neighborhood business organizations target growth in specific commercial areas by lobbying government authorities for special tax rates and real estate developments." - Wikipedia
Simon, William H. . The Community Economic Development Movement: Law, Business, and the New Social Policy.