ASSET-BASED ECONOMIC DEVELOPMENT AND BUILDING SUSTAINABLE RURAL COMMUNITIES

This ICMA Center for Sustainable Communities briefing paper outlines an asset-based economic development framework tailored for small towns and rural communities, emphasizing how local strengths can drive long-term sustainability. The six-part series explores strategies that build on regional advantages, including developing industry clusters, leveraging natural resources and amenities, revitalizing existing infrastructure and cultural assets, adaptively reusing underutilized buildings and sites, strengthening transportation networks, and advancing renewable energy initiatives. By focusing on the unique assets already present, the framework provides a pathway for rural and small communities to overcome challenges such as population loss, limited economic opportunities, and remoteness, while fostering resilience and sustainable growth.