Economic development and community development are ways to build better places to live. It is equitable when community members can decide on and take action together. Economic development only focuses on the community’s economy. It is usually led by the government or business community. Community development’s goal is broader. The goal is to build a more healthy community with more opportunities for low-income, Black, Indigenous, and People of Color. It’s a way to support and empower communities. Both economic and community development can include building affordable housing and creating good jobs. But community development puts more focus on getting the community involved.
The below policies will promote more equitable economic development in communities.