An Economic Development Organisation (EDO) is a public or public-private body that works to improve the economic wellbeing of a place — typically a city, region or nation — by supporting business growth, attracting investment and creating jobs. EDOs play an important role in shaping local economies through advocacy, developing strategies, funding programmes and supporting partnerships across economic agendas like enterprise, skills, employment, urban regeneration, infrastructure and innovation. EDOs may manage public funding streams or endowments, and potentially have a role in land-use planning decisions.

In the UK, EDOs have taken various forms. Local Enterprise Partnerships (LEPs) operated across England from 2011 until their functions were absorbed into local government in 2023. Despite the name, LEPs worked across a range of issues, bringing together councils and businesses to drive regional economic priorities. Combined Authorities — a form of regional government usually led by a directly elected Mayor — have dedicated economic development teams. Growth Companies (GCs), focused on business support and ‘account management’ of large employers, also provide an EDO-type service in some UK city regions. In devolved UK nations, bodies like Scottish Enterprise and the Welsh Development Agency (now part of the Welsh Government) have played similar roles. In the United States, philanthropic foundations play an important role in some places, operating alongside publicly funded EDOs. Destination Management Organisations (DMOs) are a specialised form of EDO focused on promoting places to the outside world. 

For entrepreneurs, engaging with an EDO can unlock access to mentoring, finance, workspace and networking opportunities, making them a key ally in starting or scaling a business.

Further reading

This entry was written by Mike Spicer. Mike is the Founder and Managing Director of Policy Department.