Public Administration and Revenue Policy: How Vital is it to Develop Revenue Policy Aligned with Community Values? Economic development is a vital aspect of a local economy that is healthy. Economic development is defined as "the process of creating wealth through the mobilization of human, financial, capital, physical and natural resources to generate marketable goods and services. The economic developer's role is to influence the process for the benefit of the community through expanding job opportunities and the tax base." (Business Park Land Strategy Technical Report, City of Davis, nd) According to the California Association for Local Economic Development (CALED) economic development can be defined as "…"…local economic development involves the allocation of limited resources - land, labor, capitol and entrepreneurship in a way that has a positive effect on the level of business activity, employment, income distribution patterns, and fiscal solvency." (Ibid, nd)

I. Economic Development: Roles and Responsibilities

Economic development is a collaborative effort, which includes actors such as the "responsible governing body is a city or county to influence the direction of private sector...