An economic development corporation (EDC) is a common organization in the United States. With a great deal of work placed on promoting economic growth and development within a certain geographic area these 501(c)(3), non-profit organizations are in the industry for the benefit of the people in their own area. Basically, their work is promotion and advocacy for economic improvement in favor of the people’s interests.
A Deeper Definition of Economic Development
Progress in the economy is something that takes effort from many corners of the geographic area being addressed. There are also a number of economic development strategies available to apply these steps, which are created by economic development corporations. These strategies are based on the area of the economy, or societal issue, which that particular EDC addresses. The issue addressed, or final goal of the economic development strategy may not necessarily be about the gain of profit or improving their own organiza