Local Economic Development - Essay Example

Local Economic DevelopmentLocal economic development professionals have to focus sensitizing the community members to engage in community activities, which are appreciated at a global scene. This includes organizing community groups to practice local projects, which contribute towards globalization. For example, community groups may be guided to establish an internet center within their reach, which will act as a means of communication and finding what is happening at a global scene. Further, the center will facilitate in education of the local people on how to use the modern form of technology, which will contribute towards attainment of the desired success by the local people.

Local economic professionals also have a role to play to ensure that the community groups that are formed do not only focus on poverty alleviation, but also on economic development. This includes making the community members pioneers of entrepreneur skills and job creation for other members. Economic professionals also have to provide assistance to local community groups in terms of access to technical and capital support and creating a link between private and public institutions of the community.

The North Texas area will impact marketing as a place for establishing new business. This is because a new environment is going to be created in this area, which means that customers in this area will have different wants and needs compared to customers from the other areas. As such, new businesses will be formed to satisfy the needs of customers in this environment. These include food, shelter and clothing. Therefore, entrepreneurs and business people dealing with such items will focus on delivery of the items and ensuring that the local people do not suffer of lack of such items.

The response to this challenge will involve conducting a market analysis of this new area. This will entail determining the various needs of the people, conducting feasibility study of the area, and establishing whether the area will provide sufficient market for new products and services. Results of this analysis will aid in making decisions as to whether to establish new businesses in the area or not to establish such businesses. Dallas is a city in the North Texas, which uses good urban planning policies and regulations that enhance attainment of sustainable economic development (Federal Reserve Bank of Dallas 1).

In this, Dallas has embraced a regional housing plan, which has enhanced continuous economic development through attainment of good housing facilities for all the community members. The policies and regulations have also contributed towards the development of a suitable cultural practice among the community members, establishment of recreation facilities and promotion of sports activities in the city. These contribute towards economic development of the city. Further, engagement of Dallas in policies pertaining to farming, business activities, housing and effective utilization of available space in the city has also enhanced economic development and attainment of success in economic development.

Moreover, the city has embraced suitable regulations in the fields of health, transportation, and education, which has contributed towards attainment of an overwhelming performance and desired success level in economic development. Works CitedFederal Reserve Bank of Dallas. Community Development Events. Web. 9 May, 2013.