The University of Minnesota has compiled ten principles of economic development through their State and Local Policy Program. Their introduction states,
“Economic Development is a concept whose definition often depends on who is doing the talking. Economists, elected officials, development professionals and citizens are all likely to have varying perspectives on the subject.
The basic framework begins with the assumption that the object of development is to create wealth, whether on a national, regional or local level. However, it is here that the many perspectives diverge. As a backgrounder, the SLPP presents ‘Ten Principles in Economic Development’.”