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Sustaining Prosperity
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Communities can thrive and grow, or they can struggle and decline, but what causes these two outcomes? Attracting and nurturing businesses and organizations is essential to creating vibrant economies, successful communities, and a higher quality of life. Political leaders and average community residents should know about economic and community development; shared knowledge and full participation from everyone will ultimately help communities flourish. In Rebooting Local Economies, the authors use their experience helping domestic and global communities prosper to offer a practical guide for others who want to help communities reach their goals and thrive; each chapter gives real-life examples and suggests concrete actions anyone can take within any community. In a constantly changing environment, communities and even larger regions can attain and maintain prosperity through better jobs, public services, and amenities. Chapter 5 offers a summary of key lessons from the text and provides more examples of successful communities. COVID-19 created different challenges for different communities around the world, and long-term changes (a "new normal") may differ between communities. In order to build a prosperous community, what is being built needs to be defined; strategic and budget decisions should be based on the community's vision and definition of prosperity. Community development, or community building, can create a foundation for a prosperous-ready community to build off of with economic development. Once a community achieves its prosperity goals, it needs to continue putting in the work to maintain and support that prosperity.