Community Economic Development (CED) is defined as community-driven efforts to improve the quality of life and prosperity of the community. Generally, CED initiatives take into consideration three factors: economic impact, social impact and environmental impact. Initiatives are assessed based on these three factors to ensure improvements in one area do not cause hardship in another — a comprehensive review of development.
This process can only be achieved through local initiative. Community needs and opportunities are determined by individual and collective input, which reflect local attitudes and values that are of focus and interest to everyone. Community involvement is sparked when community members recognize a need or opportunity and proceed to take action to address the situation, using appropriate and available resources.