Two Senses of Location Based Approaches to Local Economic Development

The term "Location" is used in two senses in the area of Economic Development. First, it can be used to refer to a problem of "location" of a specific plant at a specific place in order to maximize its profitability and therefore benefit a region to its utmost. In this sense, the focus is on the problems of costs to the plant mainly, and that is its focus.

Second, it can be used to refer to the problems of a "location", usually a region of varying size. In this sense the focus is on the economic problems of a region, and what might be done to bring about an inprovement in that state of affairs, and that is its focus. The coming of a new plant to such a region may be a solution, but this is not necessarily so. There are many approaches to and perspectives about regional economic development.

Each of these two ways of looking at "location" are dealt with in the section links below. Both are very important, and may give new ideas as to how to best approach the next round of "economic development" in a specific situation.

• Location Approach to Local Economic Development
• Regional Approahes to Local Economic Development
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