What are the most effective policies and programs for urban economic development?

A Place based approach like Placemaking Initiatives that work with community and neighhoods is an effective way for Urban Planners to get feedback from the execution of their plans, progress, maintenance & unintended consequences. Also this bottom up approach from local to national and regional gives Urban Planners clarity about the needs of the communities and neighhoods so that they can integrate into their Master Plan for City and Region. This two-way process of planning is synergistic based on the communication of Planners about the benefits of their Plans as well as feedback that gives them an indication how it is working and can adapt to changing requirements - social, cultural and environmental. This adds resilience & sustainablity

To boost urban economic development, focus on a few key moves. Invest in education and job training to ready folks for the jobs businesses are hungry for. Use tax breaks and grants to attract new companies and support local startups. Upgrading infrastructure, like roads and digital networks, makes your city a better place to do business and live. Embrace public-private partnerships to pool resources for big projects. Lean into the green economy with eco-friendly policies—it's good for the planet and jobs. Plus, making your downtown lively with affordable living, shopping, and culture attracts people and investment. These steps can rev up a city's economic engine.

Human Capital Development is essential for Economic Development as now the World Economic Development is dependent on Knowledge Workers who to deal with population growth and diminishing Non-Renewable Resources as well as environmental problems of Global warming and Climate Change. To develop Human Capital requires emphasis on Lifelong education from early childhood to adulthood through schools, colleges, universities, research, updating knowledge and skills for technology and social innovation to the challenges of the 21st century.

To solve Urban problems requires Entrepreneurs who can see opportunities in those problems. By solving the problems they create Economic Development. It is by invention in technology and innovation in social organisations - business, commerce, non-profits and government that can lead to Sustainable Development. This requires observing gaps in technology, organization management processes, willingness to experiment in small areas and then scaling up. This requires courage to take risks and this is what entrepreneurs are for. We need all kinds of entrepreneurs - solopreneurs and social-entrepreneurs for NGOs, and a Collaborative entrepreneurs, for it is through them that Economic Growth in new areas and human progress is possible.

Fair share planning approach is one of the most effective planning strategies to improve connectivity, accessibility, and to develop economically, socially, and environmentally sustainable infrastructure (Litman, 2023). Fair share planning approach in simple terms, encourage resource allocation for each transportation modes based on the following; 1) Mode split 2) Long term planning objectives 3) Overall sustainability 4) Other needs specific to the area concerned. Currently most urban areas allocate more resources (including land) for automobile usage, than it's 'fair share' based on the above. However, if fair share planning approach was incorporated for the planning process it could improve the economic development of urban areas.

For a sound urban economic development, it is important to go beyond participation but consider sharing roles and responsibilities with all urban actors that shape the economic ecosystem, from both a ecological, economic and social point of view. Looping in entrepreneurs, finance and investment, and captains of society can facilitate creating a long term framework that can weather political changes, but can also be challenged on how to combine policies, programs, participation, incentives, space for innovation, ownership, responsibility and liability. Economic development might benefit from a shared solutions rather than a mitigating impact approach. Lastly, meta cities that impact new ways of working and living should also be discussed.