An environmental scan on exploring new rural economic development frameworks : defining the success factors

Abstract

There is no single recipe for economic prosperity. This is true for all rural areas, whether new economy winners or not. Research relevant to rural development shows that many industrialized countries are effective in adapting to their current economic distress while others are not. This paper’s purpose is to examine new rural economic development approaches and initiatives through an environmental scan of Canada and the United States. The study identifies factors contributing to the success of new rural development initiatives as well as barriers, issues, and challenges that rural communities face and how they may overcome them. The scan revealed that rural communities, facing a similar economic decline as Nova Scotia, have found effective approaches to not only handle the poor economic condition but in fact prosper in spite.The findings from this study suggest that the prospering rural communities, despite being unique in many variables , all share at a minimum at least four commonalities, an increase in innovation, investment in people, products and places, perseverance, and connections amongst people, institutions and places.