Planning for economic diversification is an important undertaking to explore through your Comprehensive Economic Development Strategy. Too many places throughout the country and the world have built economies around a single sector or industry, leaving them vulnerable to both immediate shocks and longer, slow-moving chronic trends.
Economic diversification helps support regional resilience, a concept that should be woven into all aspects of your CEDS and can serve as a guiding framework for how your district approaches regional planning and economic development. Regions and communities that diversify their economies are much better positioned to face a mix of inevitable future shocks and disruptions.
This webinar tutorial provides the following:
- The basics of economic diversification
- How to measure diversification
- Best practices to support economic diversification
- Lessons learned from coal communities
- Key tips for revitalization through diversification
Download the presentation slides here (PDF).
For more information, contact NADO Research Foundation Associate Director Brett Schwartz at [email protected].
This tutorial was developed as part of NADO RF’s Stronger CEDS, Stronger Regions program, supported through a generous grant from the US Economic Development Administration.