Keep the flame burning: Resilience in economic development

Recently I have found myself reflecting rather more on the meaning of what economic development professionals do and why. I wanted to share a reminder of why, despite setbacks and knocks, this job is still hugely rewarding.

Economic development is a field like no other, that demands patience, innovation, and an unwavering belief in the power of transformation. We often battle shrinking budgets, shifting political landscapes, and the ever-present scepticism from those who don’t quite understand the depth of what we do. There are days when it feels like you’re pushing a boulder uphill in a blizzard with little recognition. But here’s the truth: our work matters more than ever.

Local economies and high streets are at a crossroads.

• Consumer habit changes mean online shopping and out-of-town retail parks continue to challenge traditional high streets.
• Economic uncertainty persists where global events, inflation, tariffs and recessions put pressure on local businesses and investment prospects.
• A lack of prioritisation where economic development is often undervalued, seen as a slow-moving function when political and organisational attention shifts to more immediate concerns.

It’s frustrating when some decision-makers don’t recognise the importance of long-term economic strategy or localised economic development. But remember this: the impact of economic development is undeniable.

Every initiative you drive, every project you deliver, and every connection you foster creates real opportunities for real people.

• That business grant scheme you fought to launch? It helped a local entrepreneur hire two new employees, providing financial stability for two families.
• The town centre revival plan that took years to push through? It gave a struggling high street a second chance, creating a thriving hub for local businesses and communities.
• The inward investment strategy that others doubted? It brought in a company that now employs hundreds of people, boosting local wages and prospects.

These victories don’t always come with applause or thanks, but their impact echoes through the lives of the people we serve. You are the invisible architect of economic opportunity, and that is a legacy worth fighting for.

And this is a time when the need for stronger foundations comes in. As the iED rightly highlights in its Grow Local, Grow National manifesto, giving economic development statutory powers within local government is crucial. This isn’t just about bolstering our position within an organisation; it’s about ensuring that economic development is recognised as a core function, a vital service, a key driver of community well-being. Statutory powers would provide the stability and resources we need to truly address the challenges we face. It would empower us to plan for the long-term, to invest strategically, and to make a lasting impact on our local economies. It would help alleviate some of the very issues we’re battling on the front lines.

Resilience is not just a buzzword in our field – it’s a necessity. The setbacks will come, the challenges will persist, but your ability to adapt, innovate, and push forward is what sets you apart. We will need to stay focused on the bigger picture, educate and advocate for economic development, celebrate our small wins, and always remember our ‘why’. Because we’re not just pushing papers, we’re shaping the future of communities and people’s lives.

If you’re at the beginning of your career in economic development, don’t read this as a warning – read it as a glimpse of the incredible impact you will have.

This is a field like no other. One day, you’ll be shaping high street regeneration. The next, you’ll be pitching to international investors, supporting local entrepreneurs, or influencing government policy. It’s a career that is varied, rewarding, and deeply meaningful.

Yes, there will be challenges. But there will also be moments when you see a community transform because of your efforts. When a business opens its doors thanks to a programme you helped create. When people have jobs, opportunities, and a better quality of life because of your work.

So keep the flame burning. Keep pushing that boulder. Because even in the face of adversity, we have the power and the ability to create a brighter future for our communities and change lives. And that, my friends, is a truly remarkable thing.

Tom Jenkins is Economic Development Manager at Ashford Borough Council.

Would you like to write for the iED? As part of iED individual and organisation membership, ALL members have the opportunity to publish articles on our website. We are now seeking ideas for contributions from members, including those in our Early Career Network. These can be around any aspect of economic development, insights on work you are undertaking and project successes you would like to share, or any viewpoint you would like to express. If you have an article proposal, please email philsmith@ied.co.uk.