The Hexagon of Local and Regional Economic Development

It is possible to organize the main concepts and instruments of local economic development (LED) along a number of triangles. This is useful because it helps to memorize the key issues.

Going through this triangles does not imply a sequence of activities. The Hexagon is not a method where you follow a series of steps and end up with a strategy. It is rather useful to subsume the triangles under three main headers:

• The triangles "target group and "locational factors" are about the core of local economic development processes, i.e. the basic instruments.
• The triangles "policy focus and synergy" and  "sustainability" are very useful in adding an innovative twist, a wider perspective and a broader scope to LED.
• The triangles "governance" and "planning, M&E" are about practical issues in implementing an LED initiative.

 

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Promotion of
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Fomento
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regional

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Promotion
economique
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